Federal Reserve Chairman Jerome Powell has discussed the threat of de-dollarization and the risk of the U.S. dollar losing its world’s reserve currency status. He believes that the USD hegemony is a consequence of America’s economic dominance. Fed Chair Powell on Threat of De-Dollarization, USD Losing Reserve Currency Status Federal Reserve Chairman Jerome Powell addressed […]

Nevada’s business regulator issued a cease and desist order to the crypto custodian alleging it has a “shortfall of customer funds.” Prime Trust’s financial condition is “critically deficient” and the crypto custodian is unable to honor customer withdrawals according to a cease and desist from Nevada’s business regulator. In a June 21 order, the Nevada, […]

After a Hollywood dinner party, hundreds of millions of dollars of “avoidable” transfers were sent from Alameda to investment firm K5 Global, the suit alleges. FTX has filed a lawsuit in the United States Bankruptcy Court for the District of Delaware against some of the investment firms it had ties to before its collapse. The suit, […]

Binance.US said in an email sent to customers on June 22 that it resolved nearly all delayed U.S. dollar withdrawals. Warning of further limitations Binance.US said it worked with its banking partners to re-enable USD withdrawals but also suggested the option will soon be removed again. The company wrote: “While USD withdrawal remains fully operational […]

Financial regulators in Nevada issued a cease and desist order against Prime Trust on June 21 after monitoring the company for solvency. In an email to CryptoSlate, the Nevada Financial Institutions Division (NFID) said it monitored the solvency of Prime Trust prior to a possible acquisition or merger. BitGo was expected to acquire Prime Trust […]

The EU Cryptopay cards may stop working soon as the Bank of Lithuania has revoked the EMI license of the app’s provider, UAB PayrNet. The European Union debit card provider for Cryptopay has lost its Electronic Money Institution (EMI) license, according to a June 22 email sent to its customers. The company recommends to EU […]

Licensed since last year, the world’s largest digital asset exchange, Binance, has now launched a trading platform in Kazakhstan. The move comes amid increased pressure from regulators in other jurisdictions, like the U.S., and after Binance’s decision to pull out of several European markets. Global Leader Binance Sets Up Licensed Exchange in Kazakhstan Amid Euro […]

Crypto wallet provider Exodus said June 22 that it is adding the Sovryn Dollar (DLLR) to its corporate treasury and user wallets. Exodus adds DLLR stablecoin to treasury Exodus CEO and Co-Founder JP Richardson said: “Besides taking its place on our corporate balance sheet, the Sovryn Dollar asset will soon be available to all of […]

Laws in the United States are the problem. Cryptocurrency advocates should focus on changing them — and, in the meantime, consider moving to the European Union. The animus of the entire crypto world is focused on Securities and Exchange Commission Chair Gary Gensler. Critics argue that he paints cryptocurrencies with too broad a brush. They […]

In 2022, X1 claimed to have 500,000 people on its waiting list for a credit card. Over the past two years, the startup has raised $62 million from venture capital firms. Crypto and stock trading app Robinhood has taken a new step to diversify its business portfolio by acquiring the credit card startup X1 in […]