CRYPTOCURRENCY
Bloomberg: Changpeng Zhao's Net Worth Surges to $37.2 Billion
Changpeng Zhao's net worth has risen $25 billion since December 2022, ranking him 35th in the Bloomberg Billionaires Index despite facing legal challenges.
BC Technology Group Shares Drop 30%, Company Clarifies OSL Sale Rumor
BC Technology Group Limited refutes rumors of considering selling its virtual asset trading platform, OSL, following a Bloomberg report, amidst a significant drop in its share prices on 17 October 2023. The company clarified there's no ongoing negotiation or consideration regarding the OSL sale, urging investors to exercise caution.
Enabling Innovation in Asset Management: SFC's Approach
Christina Choi of the SFC spoke at the Bloomberg Buy-Side Forum Hong Kong 2023, emphasizing the importance of balancing innovation with regulation in the asset management industry. She highlighted the SFC's ongoing work on guidelines for tokenization of investment products.
Bloomberg: FTX Bankruptcy Triggers 30% Profit Margin Drop for Crypto Market Makers
FTX's bankruptcy has reduced profit margins by 30% for crypto market makers, prompting reevaluation of risk profiles. Monthly spot trading volumes on centralized exchanges have plummeted 74%, causing firms to retreat.
Binance CEO Denies Bloomberg's Net Worth Report
Binance CEO CZ denies Bloomberg's finance rich list that reported his net worth to be $28.2 billion. He claims to have a lot less than what is reported by some media outlets. CZ also stated that he does not view FTX exchange as a rival and welcomes more well-run exchanges in the space. CZ has been critical of mainstream media's representation of the cryptocurrency industry and has repeatedly denied information from major sources like Bloomberg and Forbes.
US Congress needs to take control of crypto legislation
Blockchain Association CEO Kristin Smith said crypto regulation is occurring "behind closed doors" and asked for a more collaborative and "transparent approach."
FTX investors file class-action suit against Sequoia
FTX investor class-action lawsuit venture capital companies have a "tricky case," according to a crypto lawyer.
BlockFi to Sell $160 Million in Bitcoin Mining Machine
BlockFi aims to offer $160 million in loans secured by 68,000 Bitcoin mining equipment. November saw the crypto lender declare Chapter 11 bankruptcy. Defaulted loans may be undercollateralized.
The UAE's Minister of State for Foreign Trade Thani Al-Zeyoudi
Thani Al-Zeyoudi said crypto will "major" in UAE global commerce. The UAE's international trade minister updated 2023 commercial ties and policies. New restrictions allow a $2.7 million penalties for noncompliance. At the World Economic Forum in Davos, the artificial intelligence and digital economy minister spoke.
Crypto Lender Struggles Extended Creditor Protection For Vauld
Singapore gave Vauld another creditor protection term. The corporation needs a resurrection strategy by Feb. 28. Due to market circumstances, the site stopped 800,000 user withdrawals in July 2022. It received a three-month liquidity moratorium in August 2022.