Author: Journalist

A spokesman for Revolut said the company wants to expand its crypto offerings, taking a compliance-first approach to become a safe harbor for the entire crypto community.Revolut, which snagged a U.K. banking license in recent months, would join other entrants to the stablecoin sector including PayPal, Ripple and BitGo.Revolut, a London-based fintech company that offers cryptocurrency trading, intends to issue its own stablecoin, according to four people who have heard about the plan.The company, which snagged a U.K. banking license in July and was valued at $45 billion earlier this year, is said to be quite far along in creating…

Last week, bitcoin rallied 17%, its second-best week of the year.Bitcoin’s spot volume on Coinbase soared, nearing the March 2024 high.Exchange balances for the largest cryptocurrency hit a year-to-date low, a sign of increased buying pressure, according to Glassnode data.Donald Trump’s U.S. presidential election victory sparked a roaring few days for cryptocurrencies, with bitcoin (BTC) surging to a record and total cryptocurrency market cap eclipsing $2.7 trillion, a high for the year.Bitcoin, at $1.16 trillion, is now the ninth-largest financial asset by market capitalization. The biggest cryptocurrency registered its second-best week of the year, rising 17%. That’s just shy of…

Singapore users can pay using five cryptocurrencies while using the super app Grab, The Straits Times reports.Grab’s latest move has been made possible after its tie-up with payments firm Triple-A.Grab is letting users make payments via cryptocurrencies, the super app’s crypto payments partner, Triple-A, said in a statement.The super app offers ride-hailing, food delivery and digital payments in South Asia. It is present in eight nations in the region, but the current development appears to only apply to Singapore.”Grab has partnered with licensed payments provider Triple-A to enable users to top up their GrabPay Wallet via Digital Payment Tokens. Currently…

The Trump transition team is considering Teresa Goody Guillén, partner at law firm BakerHostetler and co-lead of its blockchain team, among several candidates to become the next SEC chair, industry sources said.Goody Guillén is a seasoned securities lawyer with experience serving the SEC and opposing the agency on behalf of blockchain companies and traditional businesses.President-elect Trump is seeking a pro-crypto non-bureaucrat to drastically overhaul the SEC with light-touch regulation, the sources said.Teresa Goody Guillén, a veteran of the U.S. Securities and Exchange Commission, is among the candidates president-elect Donald Trump is considering to lead the agency, people familiar with the…

FTX has taken legal action against Binance and its former CEO Changpeng “CZ” Zhao over an alleged fraudulent repurchase of shares by former FTX CEO Sam Bankman-Fried.The repurchase was funded by Bankman-Fried’s trading firm Alameda Research, but his second-in-command Caroline Ellison warned that “we don’t really have the money for this,” according to a court filing.Bankrupt crypto exchange FTX has taken legal action against rival Binance and former Binance CEO Changpeng “CZ” Zhao over an alleged fraudulent repurchase of shares by FTX’s former CEO, Sam Bankman-Fried.Bankman-Fried negotiated to buy Binance and Zhao’s stake in FTX in July 2021 using FTX’s…

Binance Wealth allows private client managers to easily onboard high-net-worth individuals to the exchange and offer them a wide range of digital assets.The service is offered through the global Binance.com platform meaning there are restrictions for some jurisdictions, such as the U.S.Binance, the biggest cryptocurrency exchange by trading volume, has unveiled Binance Wealth, a white glove service that allows private client managers to easily onboard high-net-worth individuals and offer them a wide range of digital assets.Wealth managers will handle the onboarding of clients by submitting know-your-customer (KYC) documentation and creating individual sub-accounts on Binance for each client, allowing them to…

The Hong Kong Monetary Authority opened up its tokenization “Project Ensemble” sandbox on Wednesday.Major institutions including HSBC and Global Shipping Business Network have already begun testing proofs of concept and HashKey Group plans to join the sandbox.The project is meant to future-proof the financial system, Julia Leung, chief executive officer of the Securities and Futures Commission, said.The Hong Kong Monetary Authority (HKMA) opened up its tokenization sandbox “Project Ensemble” on Wednesday and major institutions including HSBC have already begun testing proof of concepts.The sandbox is meant to “build the grand architecture for Hong Kong’s tokenization market and connect all essential…

Over two years ago, Sam Altman, co-founder of OpenAI, launched Worldcoin, a blockchain project known for its distinctive metal orb used to scan eyeballs.Recently rebranded as “World Network,” the platform provides users with digital passports — verified through the iris scans — to help online services differentiate humans from bots in an AI-driven internet.Now, a group of crypto veterans, including the co-founders of decentralized finance juggernaut Lido, are preparing to launch “Y,” a blockchain identity platform aimed squarely at competing with World Network.CoinDesk obtained an internal planning document for the new project. A person close to Cyber Fund, the venture…

Bitcoin (BTC) keeps hitting new highs, propelled above $77,000 on Nov. 8 for the first time ever by crypto industry optimism about Donald Trump winning the U.S. presidential election.Other cryptocurrencies are soaring, too. Ethereum’s ether (ETH), for instance, just surpassed $3,000 for the first time since August.What’s intriguing is that instead of selling off, bitcoin plowed through prior highs on Nov. 6 ($76,400), Nov. 7 ($76,900) and Nov. 8 ($77,200). Gold and U.S. equities are doing the same thing, hitting highs and then breaking them.This illustrates how strong the current rally is — and how likely it is to continue.Bitcoin’s…

57% of institutional investors in Sygnum’s 2024 survey plan to boost crypto allocations amid the bull run.65% of respondents are bullish long-term as bitcoin hits new highs.69% see regulatory clarity, but asset volatility remains a key concern.With the current crypto bull run, the good news just keeps rolling in, and global digital asset banking group Sygnum’s latest annual survey is no exception.The survey released on Thursday revealed that institutions are ready to put bigger bets on digital assets, with a striking 57% planning to ramp up their cryptocurrency exposure, fueled by a growing willingness to take risks and long-term confidence…