Three Arrows Capital (3AC) co-founder Su Zhu was arrested in Singapore LeapRate

October 02, 2023 BY Elizabeth Anderson

Three Arrows Capital (3AC) co-founder Su Zhu was arrested in Singapore

The 36-year-old’s flee attempt followed repeated failures to assist with an investigation into how the crypto hedge fund, which once managed $10bn in assets, spectacularly collapsed last year. Financial advisory firm Teneo obtained a “commital order” to arrest Zhu so he could assist with the ongoing liquidation procedure. A second co-founder, Kyle Davies, has not…

Coinbase crypto exchange expands custodial services in Asia market

September 29, 2023 BY Elizabeth Anderson

Coinbase gets Bermuda Monetary Authority green light

This news follows the May announcement regarding the company’s launch of the Coinbase International Exchange. This is a non-US exchange with a class F licence from the BMA. Experts believe this regulatory approval will open doors for crypto asset trading. This would be a positive move for the industry at a time when financial regulations…

September 28, 2023 BY Elizabeth Anderson

Sam Bankman-Fried asks to suit up for pending trial

Even when he met with statesmen such as former U.S. President Bill Clinton, and British Prime Minister Tony Blair, he donned T-shirts and wrinkly shorts. At the height of his career, experts estimated Bankman-Fried had a $26bn fortune in digital assets. That said, at his first court appearance in December 2022 and the others that…

September 22, 2023 BY Elizabeth Anderson

XS.com announces sponsorship for Forex Expo Dubai 2023

Last week, the FinTech company acted as the Global Sponsor of the Traders Fair South Africa on 16 September, which aimed to network the various traditional banking, insurance, investment and alternative FinTech innovations across the globe. Commenting on XS.com’s upcoming sponsorship, Andreea Ilies, XS.com Global Head of Events, stated: The Fintech landscape in the UAE…

September 21, 2023 BY Elizabeth Anderson

Revolut postpones 2022 financials filling again

Reuters quoted a spokesperson for Revolut, who commented as follows: We have received an extension for the filing of our 2022 accounts. We look forward to announcing our 2022 audit and annual report in due course. This comes after Revolut’s 2021 financial results were only published in March 2023, and the company’s auditor, BDO LLP,…

September 20, 2023 BY Elizabeth Anderson

Lawyers plead for Bankman-Fried release from jail before trial

This included sharing the personal correspondence of Caroline Ellison, former chief executive officer (CEO) of the Alameda Research hedge fund, with the New York Times. Ellison, who was romantically involved with the self-proclaimed cryptocurrency king, admitted to fraud and is a key witness in the case against Bankman-Fried. The Manhattan U.S. Attorney and lawyers for…

September 19, 2023 BY Elizabeth Anderson

South Korea to tighten OTC crypto controls

A local report detailed how prominent executives attended a forum on the legal issues and potential criminal dealings associated with digital assets. Among these were Ki No-Seong, the deputy chief prosecutor, and Park Min-woo of the Financial Services Commission (FSC). This session highlighted money-laundering possibilities and concerns. According to a Google-translated statement, Seong commented: Illegal…

September 14, 2023 BY Elizabeth Anderson

Ethereum under fire from SEC over alleged violations

In a press release this week, Co-founder of Ethereum, Joseph Lubin suggested that clear heads and clarity of thinking are the best way to proceed through the investigation. This comes after the cryptocurrency has been hit by waves of regulatory boards demanding the tightening and transparency of crypto commodities, tokens and intermediaries. Lubin stated: America…

September 11, 2023 BY Elizabeth Anderson

FTX investigates possible fund recoveries from sponsored athletes

According to legal documents cited by Bloomberg, experts are trying to determine if all payments were above board. This includes sponsorships to well-knowns such as the NBA’s Shaquille O’Neal and professional tennis player, Naomi Osaka, who received approximately $3.2m from FTX. The once-prominent cryptocurrency exchange submitted its Chapter 11 filing for bankruptcy in November 2022.…

September 06, 2023 BY Elizabeth Anderson

Bank of England hounded by think-tank over UK interest hikes

The Bank of England (BoE) governor, Andrew Bailey, is due to appear in front of the Treasury Committee to address claims by a think-tank that his economic outlook for 2023 is failing. The Resolution Foundation, an independent British think-tank that aims to bolster low-middle-class income households in the UK, suggested that continued tax hikes for…

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