Business Fintech

$740M in crypto assets recovered in FTX bankruptcy so far

Editorial Bureau November 24, 2022

The company tasked with locking down the assets of the failed cryptocurrency exchange FTX says it has managed to recover and secure $740 million in assets so far, a fraction of the potentially billions of dollars likely missing from the company’s coffers. The numbers were disclosed on Wednesday

Fintech

Binance proposes funds to save crypto from future failures

Editorial Bureau November 15, 2022

Cryptocurrency exchange giant Binance proposes creating a rescue fund that would save otherwise healthy crypto companies from failure, aiming to stave off the cascading effects of last week’s implosion of FTX, the world’s third-largest crypto exchange. Binance founder and CEO Changpeng Zhao posted on Twitter Monday that his company would create “an industry

Business Fintech

Funds vanish at bankrupt crypto exchange FTX; probe underway

Editorial Bureau November 13, 2022

Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday. The embattled company’s new CEO John Ray III said Saturday that FTX is switching off the ability to trade or withdraw funds and taking steps to secure customers’ assets, according to […]

Fintech

Coinbase reports third-quarter loss as volumes drop

Editorial Bureau November 4, 2022

Coinbase said it had a net loss of $544.6mln for the three months ended Sept. 30, or $2.43 per diluted share, compared with a profit of $406.1mln, or $1.62 per diluted share, a year earlier On Thursday, U.S. cryptocurrency exchange Coinbase Global Inc reported a third-quarter loss as high inflation, rising interest rates and geopolitical […]

Asia Fintech World

India ready to shine virtual currency world

Editorial Bureau November 3, 2022

The Reserve Bank of India (RBI) has officially launched the first pilot project of the country’s digital currency, the Digital Rupee (e) or e-rupee. The pilot is currently focused on wholesale, with a retail sector pilot set to begin within the next month. The pilot is for the wholesale segment (inter-bank market) and will be […]

Fintech IN UK 01

Quantum Blockchain chief executive wants to revolutionize Bitcoin mining

Editorial Bureau September 22, 2022

Francesco Gardin, chief executive officer of AIM-listed small-cap Quantum Blockchain Technologies PLC (AIM:QBT), thinks he has “cracked the code” in the quest for a competitive edge in Bitcoin (BTC) mining. But despite his esoteric background as an Italian theoretical physicist graduate, Gardin joined the company board in its previous iteration as Clear Leisure, a company

Business Fintech USA World

Treasury recommends exploring creation of a digital dollar

Editorial Bureau September 17, 2022

The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar, saying it would help reinforce the U.S. role as a leader in the world financial system. The White House said on Friday that after President Joe Biden issued an executive order in March calling on […]

Fintech

Ethereum blockchain completes ‘monumental’ overhaul

Editorial Bureau September 15, 2022

Senior figures in the crypto world said on Thursday that one of the biggest software upgrades the sector has ever seen was completed, an overhaul of the Ethereum blockchain aimed at reducing its massive energy consumption. Developers had spent years working on a more energy-efficient version of Ethereum, a digital ledger that underpins a multibillion […]

Fintech

Cryptocurrency sceptics look to bend the ear of regulators

Editorial Bureau September 5, 2022

Cryptocurrency critics, including economists and researchers, will gather in London and online this week to communicate their message to regulators about the booming but volatile sector. Several governments have expressed concerns over cryptocurrencies, but those behind the first Crypto Policy Symposium say they hope the event will prompt much more “critical

Fintech

Hackers may have exploited security flaws – Apple

Editorial Bureau August 20, 2022

Apple has released an update to fix security flaws on its iPhone, iPad and Mac devices, which it says hackers may have “actively exploited”. The tech company said the new software “provides important security updates and is recommended for all users”. Industry experts have suggested that the flaw could allow hackers to take complete control […]