Abu Dhabi Recognizes Tether’s USDT as a Virtual Asset
The Abu Dhabi Global Market (ADGM) has approved Tether’s USDT stablecoin as an Accepted Virtual Asset (AVA), marking a significant milestone for digital finance in the UAE. This recognition paves the way for regulated financial services to incorporate USDT, bolstering its role in the global crypto ecosystem. Integration with Regulated
Crypto Market Suffers $1 Trillion Loss: XRP, ADA, and DOGE Hit Hard
The crypto market has kicked off the week with sharp losses, shedding $1 trillion in market value in a single day. A staggering $1.76 billion worth of crypto assets were liquidated in the past 24 hours, with long positions accounting for $1.58 billion of the total. Over 600,000 trades were
South Korean Markets Reel Amid Political Turmoil
South Korean markets plunged following a weekend of political uncertainty, as President Yoon Suk Yeol faced mounting pressure to resign. The Kospi Index dropped 2.8%, while the Kosdaq Index tumbled over 5% to its lowest since April 2020. The won weakened nearly 1% against the dollar, nearing levels last seen
Virtu and StanChart Join UK’s First Regulated Crypto Derivatives Platform
Standard Chartered Plc and Virtu Financial Inc. are among prominent financial institutions joining Global Futures and Options Ltd. (GFO-X), a London-based crypto derivatives trading platform set to launch in early 2025. Supported by M&G Investments, GFO-X aims to establish itself as the UK’s first regulated and centrally cleared venue for
Trump Appoints David Sacks as AI & Crypto Czar to Boost Innovation
Donald Trump, the U.S. President-elect, has named former PayPal COO David Sacks as the “White House A.I. & Crypto Czar.” The appointment signals a major shift in U.S. policy toward artificial intelligence and cryptocurrencies. Sacks, a co-founder of Craft Ventures and a prominent figure in the “PayPal Mafia,” is set
Trump Taps Paul Atkins as SEC Chair: A Boost for Crypto Industry
President-elect Donald Trump has nominated Paul Atkins, a former SEC commissioner and pro-business conservative, to chair the Securities and Exchange Commission (SEC). Known for advocating lighter regulations, Atkins is expected to ease the regulatory burden on the cryptocurrency industry. The announcement, made via Trump’s Truth Social platform, signals a shift
Bitcoin: Now the World’s 10th Largest Currency
Bitcoin has reached a historic milestone, becoming the world’s 10th largest currency by market capitalisation. With a current value of $2.04 trillion across 19.8 million BTC, it has cemented its place as a dominant force in global finance. From Humble Beginnings to $2 Trillion Launched in 2009, Bitcoin started as
Binance, WazirX Among Crypto Firms Caught Evading Taxes in India
India’s Minister of State for Finance, Pankaj Chaudhary, revealed significant tax evasion by cryptocurrency exchanges, including Binance and WazirX. Authorities have identified 824 crore rupees ($97 million) in unpaid Goods and Services Tax (GST) across 17 crypto firms, sparking multiple investigations. Recovered Taxes and Penalties The Indian government has already
Altcoin Surge Signals Market Shift as Bitcoin Rebounds Above $95,000
The cryptocurrency market is witnessing significant shifts as Bitcoin experiences a brief correction, sparking a renewed interest in altcoins. Investors are diversifying portfolios, seeking opportunities in emerging assets while Bitcoin maintains its strong market presence. Bitcoin’s Brief Dip and Recovery Bitcoin saw a slight pullback before rebounding sharply, surpassing the
MARA Holdings Plans $805M Fundraising for Bitcoin and Debt Management
MARA Holdings, Inc., a leading blockchain computing firm, has announced plans to raise $805 million through convertible senior notes due in 2031. The offering targets institutional investors, comprising $700 million in notes with an additional $105 million available to initial purchasers. The notes will not bear interest and can be
