Democratic U.S. Congresswoman and House Financial Services Committee Ranking Member Maxine Waters criticized PayPal’s stablecoin on Aug. 9. Waters said in a statement: “I am deeply concerned that PayPal has chosen to launch its own stablecoin while there is still no Federal framework for regulation, oversight, and enforcement of these assets.” She added that Federal […]

INX announced the renewal of its normal course issuer bid (NCIB) to repurchase common shares and INX Limited’s token repurchase program. (Read More)

The firm managed to narrow net loss in the quarter as it ramped up Bitcoin production. Colorado-based Bitcoin mining firm Riot Platforms narrowed its second quarter net loss to $27.7 million as it ramped up its Bitcoin production and reached record hash rate capacity. The crypto miner posted total revenue of $76.7 million — up […]

The Federal Reserve has established a new supervisory program to increase oversight of crypto activities by the banks it regulates. The U.S. central bank also released additional guidelines for banks to follow before engaging in the issuance, possession, or transactions involving U.S. dollar stablecoins. Fed Steps up Crypto Oversight The Federal Reserve announced the establishment […]

Coinbase, a leading U.S. crypto exchange, officially launched Base, its Ethereum layer 2 network, to the general public on August 9, 2023. The Base testnet launched in February, followed by a developer-specific release in July. Built on Optimism’s software stack known as the OP Stack, Base operates as a rollup network, a scaling solution that […]

Two Ripple executives named in a federal securities case have been scheduled for a jury trial, according to a court filing dated Aug. 9. The upcoming proceedings concern Ripple CEO Brad Garlinghouse and Ripple co-founder Chris Larsen. The U.S. Securities and Exchange Commission (SEC) previously alleged that the two individuals engaged in unlawful securities offerings […]

The SEC’s interlocutory appeal comes nearly a month after Judge Analisa Torres laid out her non-final ruling. The United States Securities and Exchange Commission has filed a letter of intent to request an interlocutory appeal to Judge Analisa Torres’ July 13th summary judgment in its ongoing legal battle against Ripple Labs. In an Aug. 9 […]

Russian president Vladimir Putin and South African president Cyril Ramaphosa recently addressed cooperation, trade, and preparations for the upcoming BRICS summit. The two leaders conversed about practical cooperation and the expansion of the organization, reflecting a shared commitment to international engagement. While Putin won’t be attending the conference in person, he will be represented via […]

Quick Take Bitcoin (BTC), despite its volatility, has remained under the $30,000 threshold, an intriguing scenario attributed to its short-term holders. This group is currently reaping substantial profits, thereby sustaining the sell pressure. A striking sale of approximately 17,000 Bitcoins to exchanges was registered recently, marking this as a significant event in the annual financial […]

The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Nigerian government to prohibit the operations of Binance because it was exacerbating the strain on the Naira, according to local media outlet The Cable. ABCON President Alhaji Aminu Gwadebe stated that the exchange was becoming the anchorage point for the country’s official […]