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Cryptoverse: Venture Capital Still Haunted by Crypto Chaos

Cam White | September 5, 2023

By Lisa Pauline Mattackal and Medha Singh (Reuters) – For venture capitalists, the scars of bitcoin’s disastrous 2022 run deep. While breezy bitcoin has bounced back, leaping by about 55% this year, investments in crypto startups have dropped for the fifth straight quarter. VC crypto bets totaled just under $2.3 billion in April-July this year, […]

What’s at Stake in Grayscale’s Spot Bitcoin ETF Case against the SEC?

Cam White | August 29, 2023

By Hannah Lang (Reuters) – The U.S. District of Columbia Court of Appeals will soon rule on whether the Securities and Exchange Commission (SEC) wrongly rejected an application from crypto asset manager Grayscale Investments to list an exchange-traded fund that tracks the price of bitcoin. The case is being closely watched by the cryptocurrency and […]

Bankrupt crypto exchange FTX picks Galaxy to manage its digital assets

Cam White | August 24, 2023

(Reuters) – Bankrupt crypto exchange FTX has hired U.S. crypto firm Galaxy as an advisor to help hedge and sell its crypto holdings, according to court filings made late on Wednesday. Hedging of bitcoin and ether will provide a means to lessen FTX’s exposure to adverse price movements before their sale, the filing said. Galaxy, […]

Traders Can Now Trade Cryptocurrency Futures

Cam White | August 23, 2023

By Lisa Pauline Mattackal and Medha Singh (Reuters) – America’s mom and pop bitcoin buffs have a shiny new derivatives playground that cryptocurrency analysts hope will fire up a moribund market. Their new platform is cryptocurrency exchange Coinbase Global, which on Aug. 16 became the first crypto-focused firm to win approval to offer cryptocurrency futures […]

Analysis-Why PayPal’s stablecoin is likely to succeed where Facebook’s Libra failed

Cam White | August 21, 2023

By Hannah Lang WASHINGTON (Reuters) – PayPal’s stablecoin is likely to succeed where Facebook’s failed, thanks to the payment giant’s standing in Washington and policymakers’ greater understanding of the issues in the last three years. PayPal this month said it was launching PayPal USD, a crypto token pegged to the U.S. dollar, making it the […]

Bitcoin drops to new two-month low as world markets sell off

Cam White | August 18, 2023

By Elizabeth Howcroft LONDON (Reuters) -Top cryptocurrency bitcoin hit a fresh two-month low on Friday, breaking out of its recent tight range as a wave of risk averse sentiment swept through world markets. On Thursday, bitcoin fell 7.2% in its biggest one-day drop since November 2022 when top exchange FTX collapsed. It then slipped to […]

Coinbase wins approval to offer crypto futures trading in US

Cam White | August 16, 2023

(Reuters) -Coinbase Global said on Wednesday it had secured approval to offer cryptocurrency futures to U.S. retail customers, scoring a major regulatory win even as the crypto exchange battles a lawsuit from the Securities and Exchange Commission (SEC). Shares of the company climbed 5.5% to $83.52 in premarket trading. The approval was granted by the […]

Binance Files for Protective Order against SEC

Cam White | August 15, 2023

(Reuters) -Crypto exchange Binance late on Monday filed for a protective court order against the U.S. Securities and Exchange Commission saying the regulator’s requests for information were “over broad” and “unduly burdensome”. In a court filing in the US District Court of Columbia, BAM Trading, Binance U.S.’s operating company and BAM Management said the group […]

Before Suing Coinbase, SEC Asked It to Trade Only in Bitcoin

Cam White | July 31, 2023

(Reuters) – The U.S. Securities and Exchange Commission (SEC) had asked Coinbase to stop trading in all cryptocurrencies except bitcoin before suing the cryptocurrency platform in June, the Financial Times reported on Monday, citing CEO Brian Armstrong. “We really didn’t have a choice at that point. Delisting every asset other than bitcoin, which by the […]

U.S. Congressional Committee Set to Weigh Crypto Bills

Cam White | July 26, 2023

By Hannah Lang WASHINGTON (Reuters) – A key congressional committee is set to vote this week on several bills that would develop a regulatory framework for cryptocurrencies, a milestone for Capitol Hill in its efforts to codify federal oversight for the digital asset industry. The crypto industry has been in the regulatory crosshairs since investors […]

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