March 20, 7:05 am
| | Flagstar Takes Over Signature, Minus Its Crypto Business
Following an unsuccessful first attempt by the FDIC to find a buyer for Signature Bank, the latter placed in receivership by the fiscal authority will be bought out by Flagsta Bank - a subsidiary of New York Community Bancorp, Inc.
Today, we entered into an agreement with a subsidiary of New York Community Bancorp, Inc., to purchase and assume deposits and assets out of Signature Bridge Bank. Read more https://t.co/bSshY93lBh. pic.twitter.com/b9RBvYtGF7
— FDIC (@FDICgov) March 19, 2023
Crypto Divestment Was Not Required
A Reuters report, which was later updated to reflect a statement on the matter from the FDIC, said unnamed sources stated that any buyer of Signature Bank would be forced to divest from the crypto industry. The FDIC responded that they merely warned potential buyers of the risk drawn from dealing with crypto and did not require potential buyers to ditch the asset class.
Whether required or not, Flagstar Bank has made the decision to exclude cryptocurrency-related customers from the deposits it took control of. Most of Signature’s assets will, for now, remain in the hands of the FDIC, who also received equity appreciation right in the form of common stock in Flagstar’s parent company worth about $300 million as part of the deal.
“The form...
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March 19, 10:00 am
| | Dutch Financial Regulator Vows Strict Treatment of Crypto Business Under...
The financial regulatory body of the Netherlands intends to maintain tough attitude towards the Dutch digital assets sector despite looser European rules. The head of the agency overseeing the industry doesn’t think crypto is good news and highlights its flaws in an article.Head of Dutch Financial Authority Says Cryptos Are Difficult to Fatho...
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March 18, 10:30 am
| | Africa-Focused Fintech Chipper Cash Weighs Possible Sale of Business
One of Africa's fintech giants, Chipper Cash, is said to be weighing the possibility of selling the business or bringing in new investors. According to the CEO of the FTX and Silicon Valley Bank-backed fintech startup, Chipper Cash had insignificant exposure to both SVB and Signature Bank. Chipper Cash 'Never Sought to Be Acquired'
The FTX and Sili...
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March 18, 12:30 am
| | Dubai Free Trade Zone Partners With South Korean Companies to Expand Web...
The Dubai Multi Commodities Centre, one of the biggest free trade zones in the world, signed agreements with governments and companies in South Korea to bring more Web3 and metaverse businesses to the emirate. The objective of this move is to consolidate the status of Dubai as an international blockchain hub in the region.
Dubai Free Trade Zone I...
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March 16, 11:04 pm
| | Signature's Potential Buyers Must Abandon Crypto Business (Report)
Companies willing to acquire the troubled Signature Bank will reportedly have to give up its cryptocurrency business. Those interested in purchasing the financial institution or Silicon Valley Bank (SVB) can submit bids by March 17.
Both entities, which acted as main lenders for numerous crypto organizations, revealed operational difficulties...
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March 03, 12:30 am
| | US Senators Probe Crypto Exchange Binance About 'Potentially Illegal Bus...
Three U.S. senators have asked crypto exchanges Binance and Binance US for documents and answers pertaining to 'potentially illegal business practices.' The lawmakers told Binance CEO Changpeng Zhao (CZ): 'Your actions have called into question the legitimacy of your business and the safety of your customers' assets.'U.S. Lawmakers Probe Binance
U....
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March 02, 7:00 pm
| | Aurora Labs Launches Turnkey Blockchain Solution for Businesses Transiti...
PRESS RELEASE. Aurora Cloud is the all-in-one cloud infrastructure solution bridging Web2 and Web3.
03/02/2023 Denver – Web3 infrastructure startup Aurora Labs announced the launch of Aurora Cloud, a platform and suite of products that allows today’s Web2 businesses to capture the value of Web3.
Aurora Cloud — Platforms like Amazo...
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February 02, 8:50 am
| | FTX Bid Deadlines for Japan, Europe Businesses Revealed (Report)
The FTX Group of companies undergoing bankruptcy proceedings extended the preliminary bid deadline for its Japan and Europe affiliates as administrators scramble to raise funds to help pay back creditors.
According to the Bloomberg report, the court filing said the new deadline has been set for March 8, while the auction date has been moved to Apri...
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January 30, 11:59 pm
| | BlockFi Wins Approval to Arrange Auction for Mining Business
Bankrupt crypto lending platform BlockFi received court approval to put its Bitcoin mining business up for auction.
The company plans to sell its equipment as fast as possible, to take advantage of currently favorable market conditions.
Selling While They Can
BlockFi lawyer Francis Petrie told US Bankruptcy Judge Michael Kaplan on Monday that...
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January 07, 11:59 pm
| | US SEC Charges 8 People and Businesses Linked to a $45 Million Crypto Sc...
The US Securities and Exchange Commission (SEC) charged Neil Chandran and seven other individuals and entities for orchestrating the fraudulent cryptocurrency investment scheme called CoinDeal.
The suspects allegedly defrauded investors with around $45 million over the years and used the money to buy real estate, cars, and a boat.
Halting the...
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January 06, 6:00 pm
| | MEXC 2022 Recap: Futures Business Grows by 1200% and Exceeds 10 Million ...
Recently, the cryptocurrency trading platform MEXC released two retrospective articles: Major Events in Cryptocurrency Market 2022，Which Affected You the Most? Blog-Top 10 Highlights of MEXC 2022, which respectively reviewed the cryptocurrency market in 2022 and the development of MEXC in one year.
2022 is the most dramatic year for the cryp...
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December 30, 4:10 pm
| | MEXC Futures Business Grows, Highlighting the Advantages of Liquidity an...
[PRESS RELEASE - Please Read Disclaimer]
In early December, the cryptocurrency exchange MEXC announced that its futures business made a significant breakthrough in 2022, with an average daily trading volume growth of 1200%. This data can be verified from third-party public data.
On December 20, CoinMarketCap's data showed that among the main excha...
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December 18, 11:00 pm
| | New FTX CEO Told Members of Congress SBF's Family 'Certainly Received Pa...
According to multiple reports, FTX co-founder Sam Bankman-Fried’s parents face scrutiny over their reported involvement with their son’s business operations. The two Stanford professors Joseph Bankman and Barbara Fried have not been charged with any wrongdoing, but the current FTX CEO, John J. Ray III, recently told members of the U.S. ...
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December 13, 4:03 pm
| | Business as Usual Says CZ, Confirming Over $1 Billion Daily Withdrawals
Changpeng Zhao - CEO of Binance - said clients had withdrawn approximately $1.14 billion worth of crypto today (December 13) from the platform.
The executive assured they handled the demand and that business continues to operate 'as usual.'
Zhao stated on Twitter that the recent withdrawal requests are not a black swan event, reminding that Binanc...
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December 13, 2:30 am
| | Sam Bankman-Fried Wants to Start New Business to Repay FTX Users —...
Former FTX CEO Sam Bankman-Fried (SBF) has revealed that he wants to start another business in the hope of earning money to repay FTX customers. 'I would give anything to be able to do that. And I'm going to try if I can,' he said.SBF Wants to Start a New Business
Sam Bankman-Fried (SBF), former CEO of the collapsed crypto exchange FTX, was asked i...
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December 12, 7:35 am
| | SBF Might Start a New Business to Earn and Be Able to Pay FTX Victims
The former CEO of crypto exchange FTX - Sam Bankman-Fried - said he is willing to start a new business venture to earn enough funds and pay back victims of the collapse.
He reiterated his position that what happened to the platform was not a fraud but rather a lack of management skills.
In a recent interview for BBC, SBF pledged to do everything h...
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December 06, 11:45 am
| | Goldman Sachs to Invest Millions in Crypto Businesses Following FTX Melt...
The American multinational investment bank - Goldman Sachs - intends to spend tens of millions of dollars to acquire or invest in cryptocurrency organizations.
Goldman's head of digital assets - Matthew McDermott - thinks the involvement of trustworthy regulated players in the crypto industry could improve its current condition.
Goldman Remai...
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November 22, 11:30 am
| | Billionaire Bill Ackman: Crypto Enables Creation of Useful Businesses an...
According to Bill Ackman, billionaire and CEO of Pershing Square Capital Management, while crypto tokens are used by unethical promoters to perpetuate fraud, they 'can enable the formation of useful businesses.' A previous critic of digital assets, Ackman insists that 'crypto is here to stay' and that society will benefit even more when it is prope...
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November 21, 4:30 am
| | Binance CEO: We Don't See a Viable Business in India
Binance CEO Changpeng Zhao (CZ) says India is currently not a viable business environment for his cryptocurrency exchange, citing a strict tax regime. The executive explained: 'Binance goes to countries where regulations are pro-crypto and pro-business.'Binance's CEO on Indian Crypto Environment
The CEO of cryptocurrency exchange Binance, Changpeng...
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November 21, 2:30 am
| | Amazon Founder Jeff Bezos Advises What Consumers and Businesses Should D...
Amazon founder and former chief executive Jeff Bezos has given some advice to consumers and small businesses about what they should do given that the U.S. economy is either already in a recession or is headed into one 'very soon.' The billionaire said: 'The economy does not look great right now. Things are slowing down. You're seeing layoffs in man...
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November 18, 11:30 pm
| | Big Four Company KPMG to Examine New Business Models in the Metaverse
KPMG, one of the 'big four' companies in the consulting and auditing business, is appointing a new head of metaverse futures. The new position, to be occupied by Alyse Sue, will be dedicated to the implementation of technologies such as metaverse and crypto to find fresh business models for the company, as other big four companies are already doing...
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November 12, 5:30 am
| | Japanese Regulator Slaps FTX Japan With Business Suspension Order
Japan's top financial regulator, the Financial Services Agency (FSA), has issued a business suspension order to FTX Japan, the Japanese subsidiary of FTX.com. The financial watchdog has also ordered the crypto exchange to submit a business improvement plan by Nov. 16.Japanese Regulator Takes Action Against FTX Japan
Japan's Financial Services Agenc...
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November 11, 4:30 am
| | Twitter Files for Payment Business — Elon Musk Says Platform Could...
Twitter has filed paperwork with the U.S. Financial Crimes Enforcement Network (FinCEN) to start a payment business. Tesla CEO and Twitter chief Elon Musk explained the social media platform could offer 'an extremely compelling money market account' in addition to 'debit cards, checks, and whatnot.'Elon Musk Shares Ideas for Twitter's Payment Syste...
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November 06, 11:30 am
| | Vietnam Businesses Urge for Blockchain Training of Students and IT Speci...
Members of the expanding blockchain sector of Vietnam have called on government and educational institutions to turn more attention to the deficit of talent. With the shortage of qualified personnel being a global challenge, they say the country needs to address the lack of training.Industry Players Highlight Growing Need for Blockchain Experts in ...
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November 01, 12:31 pm
| | CoinFLEX Announces Major Reform to Its Business Model
[PRESS RELEASE - Seychelles, Seychelles, 31st October 2022]
Cryptocurrency futures exchange CoinFLEX is restructuring to issue the majority of its shares to customers and adopt a community-led model. This change will give its community more voice and involvement in building the platform's future.
CoinFLEX’s transformation to a community-led p...
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October 27, 4:00 am
| | Google Admits Crypto Winter Is Hurting Ad Business
The digital asset market downturn that started the current crypto winter is negatively affecting search spending, Google has acknowledged. Ad growth in the third quarter fell to a low seen only once in almost a decade, the tech company revealed this week.With Fewer Crypto Ads, Google Registers 6% Ad Revenue Growth in Last Quarter
Online advertising...
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October 21, 11:25 am
| | MOOI Network Partners With a Global Film Festival to Expand its Business...
[PRESS RELEASE - Dubai, UAE, 21st October 2022]
MOOI Network, a social blockchain network, comes together and partners with Bucheon International Animation Festival (BIAF2022), the largest global animation festival, to release official, exclusive BIAF NFTs.
As the MOOI Network is an ecosystem centered around blockchain and culture, featuring specia...
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October 20, 10:30 am
| | German Crypto Bank Nuri Asks Clients to Withdraw Funds as It Goes Out of...
Digital asset platform Nuri has told customers to withdraw their funds in the next two months, after taking a hit from the crypto winter. Formerly known as Bitwala, the Berlin-headquartered cryptocurrency bank filed for insolvency earlier this year and failed to find a buyer.Nuri to Maintain Trading Until Last Day of November, Prepares to Close Dow...
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October 11, 9:30 am
| | Kenyan Firm Using Wasted Energy to Mine Bitcoin — Business Model S...
A Kenyan bitcoin mining company, Gridless, recently revealed how it is helping local communities reduce electricity costs by using excess generated power to mine bitcoin. The Gridless model has been hailed because it potentially helps to decentralize bitcoin mining as well as move some hashpower to Africa.Using Wasted Energy to Mine Bitcoin
Gridles...
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October 07, 5:00 am
| | Gofaizen & Sherle to Help Businesses Scale the New Lithuanian Cryptocurr...
PRESS RELEASE. In light of the strengthened supervision of the cryptocurrency sector by Lithuania, Gofaizen & Sherle, an international legal and management consulting firm based in Europe, has taken the initiative to assist businesses in navigating these new regulations. According to Lithuanian regulators, these new laws will go into effect in Nove...
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September 28, 6:43 am
| | Space And Time Secures $20 Million To Transform Central Business Logic D...
Space and Time paves the way for establishing a decentralized data warehouse with tremendous Web3 implications. The project secured an additional $20 million in funding to make smart contracts more robust.
A Big Step For Space and Time
The new $20 million in strategic funding is a big deal for the Space and Time team. It signifies the importance of...
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September 20, 6:30 am
| | Better Business Bureau Warns of Cryptocurrency Investment Scams on Tikto...
The Better Business Bureau (BBB) has warned about cryptocurrency scams on Tiktok. 'You are scrolling through Tiktok when you come across a video showing a pile of cash. The creator says they earned the stack of money in just a few days by investing in cryptocurrency,' the BBB detailed.Crypto Scammers Defrauding Tiktok Users
The Better Business Bure...
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September 17, 6:30 am
| | Thai SEC Proposes Banning Crypto Businesses From Staking and Lending Act...
The Thai Securities and Exchange Commission (SEC) has proposed banning businesses from engaging in crypto staking and lending activities. The regulator is seeking public comments on the proposal, noting that the purpose of this prohibition is 'to provide greater protection to investors and reduce associated risks.'Thailand Seeks Public Comments on ...
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September 14, 2:00 pm
| | Russian Businesses to Choose Which Crypto to Use for Cross-Border Settle...
Russian companies may start transacting in cryptocurrency with partners abroad as early as next year and will be free to pick the coin they want to use, officials in Moscow have indicated. The sanctioned country is preparing to legalize foreign trade settlements with digital assets and this could happen in the coming months. Russian Government Pois...
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August 15, 8:55 am
| | Volare Network Released Volare Business White Paper 1.0 With Volare Publ...
[PRESS RELEASE - Singapore - August 13, 2022]
Volare Project is a project to construct a vast ecosystem based on blockchain network (“Volare Network”) that proves the commercial viability of the new Equilibrium technology. Volare Network has released its first white paper 1.0 on August 1, 2022 (please see here).
Current blockchain platf...
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June 26, 4:33 pm
| | Deloitte and NYDIG Will Allow Businesses to Access Services Built on Bit...
Big four accounting firm Deloitte tapped Bitcoin-focused financial services firm New York Digital Investment Group (NYDIG) for a strategic alliance that aims to help companies access financial services built on Bitcoin.
The newly formed alliance will focus on offering Bitcoin-related financial services to companies of all sizes. Its targeted areas...
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June 25, 5:30 am
| | Japanese Virtual IP Firm Raises $10 Million to Accelerate Metaverse Busi...
Brave Group Inc., a Japanese virtual IP firm, recently said it had raised $10 million in new capital and that the company expects to use part of these funds to boost its 'solution services for clients in the metaverse marketing business.' Taking part in Brave Group's latest funding round were two local companies, foreign investment funds, as well a...
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June 16, 4:57 pm
| | Mark Cuban Explains Which Crypto Businesses Will Dissappear During the B...
Investors are increasingly concerned about the spillover effect in case of a potential collapse of the lending platform, Celsius. Weighing on the struggling ecosystem, the 'Shark Tank' star argued that more companies built on hype and lack of valid prospects will disappear.
More Losses Incoming
In an interview with Fortune, Cuban predicted another ...
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June 06, 5:36 pm
| | DEA Appoints Tatsuya Kohrogi Vice President & Head Of Global Business
Singapore-based GameFi ecosystem Digital Entertainment Asset Pte. Ltd. (DEA) has revealed the appointment of Tatsuya Kohrogi to the role of Vice President and Head of Global Business. Kohrogi will be leveraging his extensive experience to help DEA expand into new markets.
Commenting on the company’s latest talent acquisition, DEA CEO Naohito ...
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June 05, 12:00 pm
| | Localbitcoins User Pleads Guilty to Running Unlicensed Crypto Business &...
A cryptocurrency trader has been convicted in the U.S. for operating an unlicensed money-transmitting business using Localbitcoins and Paxful. He faces up to five years in federal prison and a possible $250,000 maximum fine.Crypto Trader Pleads Guilty
The U.S. Department of Justice (DOJ) continues to take action against crypto traders using service...
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June 02, 6:10 am
| | Three ways blockchain disrupts traditional business models
An essential component in business is adapting to technological trends and providing the best possible services for customers. This is known as providing a customer-centric experience.
Examples of adapting technology and focusing on customer-centric experiences are shown through Walmart and Amazon. These businesses traded at $400B (Walmart) and $24...
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June 02, 5:46 am
| | 5 Ways that Blockchain is Reshaping the Betting Business
If there’s one takeaway that society has gained from the betting industry, it’s that traditional casinos are not designed to favor the bettor—the house always ends up winning. At the end of the day, a casino is simply a business, and like any other business, it is designed to ensure profitability.
The reality is, traditional casin...
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May 24, 9:30 am
| | Major Japanese Bank Sumitomo Mitsui Trust to Launch Cryptocurrency Custo...
Sumitomo Mitsui Trust, one of the major banking institutions in Japan, will reportedly enter the cryptocurrency custody business. The company is entering a partnership with Bitbank, a Tokyo-based cryptocurrency exchange, to launch a new company that will focus on offering institutional-grade custody for digital assets and NFTs.
Sumitomo Mitsui...
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May 20, 1:11 pm
| | V2B Labs Judges the Eventful Blockchain Business Idea Pitch Day Alongsid...
[PRESS RELEASE - Please Read Disclaimer]
V2B Labs had an amazing time being part of Ideathon Pitch Day, a blockchain event organized by the Algorand in Tokyo on last May 14, 2022.
On May 14, 2022, Algorand successfully organized the Blockchain Business Idea Pitch, joined by well-known Japan Accelerator mentors, overseas Algorithm founders and VCs, ...
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May 04, 6:21 am
| | Retoken Announces Plans to Revolutionize Business Referral Systems
Retoken has unveiled its plans to revolutionize how businesses and individuals benefit from the manufacturer-buyer process. Using incentives, Retoken will attract sellers and consumers working in the market to promote your products and services.
CEO of Retoken, Sanan Hasanov, said:
“In order to bring measured results to these person-to-person...
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April 25, 1:15 pm
| | SeatlabNFT's Journey To Change The Event Business
From sports events, to live music, to stand-up comedy and beyond - the ticketing business has become profitable for few, clunky for most, and outdated for everyone. A new blockchain-based platform, SeatlabNFT, is changing that. For the fans SeatlabNFT aims to revitalize the ticketing industry by moving tickets on-chain, and leveraging growing NFT t...
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April 24, 11:30 pm
| | Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus
Exmo, a U.K.-based crypto exchange with extensive presence in Eastern Europe, is pulling out of Russia, Belarus and Kazakhstan. The trading platform, Exmo.com, says it's making the move to avoid jeopardizing its expansion in other regions by operating in high-risk markets like these. The business has been sold to a Russian vendor, alongside rights ...
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April 23, 8:30 am
| | Crypto Businesses Ask 27 EU Finance Ministers to Loosen Disclosure Requi...
Forty-six European crypto businesses and organizations have asked finance ministers in 27 European countries to loosen some regulatory requirements for the crypto industry. For example, they asked for decentralized finance (defi) projects to be excluded from the requirements to register as legal entities.
Crypto Industry's Letter to EU Policymakers...
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April 19, 7:46 am
| | SocialGood Is Good for Business
Businesses and brands are regularly looking for ways to improve their bottom line and increase sales. An increase in sales and “basket size”, is often achieved by not only getting new customers but retaining the existing ones too. When looking at the way businesses and brands are trying to achieve this, we regularly see the following: L...
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April 18, 5:30 am
| | Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Busi...
A bitcoin ATM operator has been indicted in New York for running an illegal business 'marketed towards individuals engaged in criminal activity.' The district attorney in charge described: 'Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk business as secret as possible to attract a clientele that would pay top dollar for anon...
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