US financial regulators are investigating whether beleaguered crypto-exchange FTX.com properly handled customer funds, as well as its relationship with other parts of Sam Bankman-Fried’s crypto empire, Bloomberg News reported Wednesday, citing people familiar with the matter. The investigations by the Securities and Exchange Commission and the Commodity Futures Trading Commission Read more…
In the United States, the lack of regulatory clarity threatens to slow down not just mainstream adoption of new technologies but also innovation in digital payment options, potentially cutting off consumers and businesses nationwide from sought-after conveniences, simply because regulators can’t keep up with how digital assets are being used Read more…
In the real world, the construction of the World Cup infrastructure in Qatar has been marred by extreme temperatures and migrant worker deaths. In the metaverse, however, a digital replica of Lusail Stadium in Doha has none of that baggage — and the virtual property can be raffled off as Read more…
Cryptocurrency exchange giant Binance is highly unlikely to go through with its proposed acquisition of struggling rival FTX after less than a day of reviewing the company, according to a person familiar with the matter. Binance’s non-binding letter of intent for the takeover — announced Tuesday as FTX’s financial position Read more…
Binance has signed a non-binding, letter of intent to acquire FTX, the two firms said, delivering a surprising twist amid the public feud between the world’s two largest crypto exchanges that contributed to several tokens taking a tumble Tuesday. The firms didn’t disclose the value of the deal, pending the Read more…
Hong Kong has proposed allowing retail investors to trade in cryptocurrencies and crypto exchange-traded funds and plans to conduct pilots in NFT issuance and CBDC as it looks to regain its status as a global financial hub. The city had last year proposed limiting crypto trade to professional investors, a Read more…
The Reserve Bank of India (RBI) will launch the pilot for a central-bank-backed digital rupee for the wholesale segment on Nov. 1, it said on Monday, identifying nine banks, including top lender State Bank of India, to participate in the project. The pilot’s use case will be to settle secondary Read more…