Author: Luis Acosta

Consensys, a leading crypto firm, announced on Thursday its filing of a lawsuit against the U.S. Securities and Exchange Commission (SEC) regarding the regulation of the Ethereum blockchain. This move reflects the growing contention surrounding industry regulation, particularly among major players like Coinbase Global (COIN.O), who contest the SEC’s jurisdiction, arguing that crypto tokens don’t qualify as securities. According to Consensys’ complaint, the SEC has been engaging in what they deem as “unlawful attempts to regulate ether” through selective enforcement actions targeting Consensys and potentially other entities. The firm is seeking judicial affirmation that the SEC lacks the legal mandate…

Nomura Holdings recently unveiled its financial performance for the fourth quarter and full-year ending March 2024, showcasing a remarkable surge in net revenue and income. Despite the backdrop of increasing interest rates in the Japanese markets, Nomura reported an impressive 123% year-on-year surge in pretax income, totaling ¥236.8 billion. The revenue across various segments depicted a robust picture, with retail, investment management, and wholesale segments generating ¥402.4 billion, ¥154.1 billion, and ¥866.1 billion respectively. Notably, Nomura’s retail division marked its highest pretax income in eight years, propelled by stable recurring revenue. In the words of Nomura’s President and Group CEO…

US prosecutors have recommended a 36-month prison term for Changpeng Zhao, Binance’s former CEO, doubling the advisory guidelines, citing the gravity of the charges against him. The proposal, detailed in a filing with the Western District Court of Washington, underscores the severity of accusations against Zhao, who resigned last November as part of a plea deal with the US Department of Justice. The prosecutors assert that a three-year custodial sentence is essential to emphasize the seriousness of the charges, including allegations of neglecting anti-money laundering protocols mandated by the Bank Secrecy Act. They highlight Zhao’s alleged involvement in permitting Binance…

In the initial quarter of 2024, the Financial Conduct Authority (FCA) directed alterations or withdrawals for 2,211 financial promotions. This action, according to the FCA, primarily targeted the retail investment and retail lending sectors. The period spanning from January 1 to March 31, 2024, underscored interventions against firms violating financial promotion regulations and investigations into unregulated activities. Retail investments and retail lending bore the brunt of these interventions, representing 85% of the FCA’s actions. Concurrently, the FCA fielded 5,722 reports concerning potential unauthorized business activities, prompting 597 alerts concerning unauthorized entities. Of particular concern were clone scams, constituting 11% of…

Worldcoin is reportedly exploring a potential collaboration with OpenAI, an artificial intelligence research firm, as outlined in a Bloomberg report. This development unfolds amid regulatory challenges confronting the digital identity platform concerning privacy issues. Despite these obstacles, the cryptocurrency project, under its parent company Tools for Humanity, is strategizing expansion. Recent concerns raised by Spain and Portugal regarding the involvement of children in Worldcoin’s iris scanning program have triggered regulatory interventions. Earlier, the project partnered with cybersecurity company Okta Inc. to introduce an authentication service. Worldcoin’s identity systems aim to provide solutions for verifying individuals in the AI-dominated digital realm.…

XTB, a publicly-traded broker, has recommended a historically high dividend payout, with each share potentially receiving over PLN 590 million ($146 million). This decision marks a significant portion of profit distribution among shareholders, as stated by the Management Board. Following this announcement, XTB’s shares experienced an upsurge on the Warsaw Stock Exchange (WSE), reaching historical highs. The company’s latest report reveals that 75% of its net profit for 2023, totaling PLN 787 million ($195 million), will be allocated for dividends. The remainder, PLN 197 million ($49 million), is slated to reinforce the company’s reserve capital. “The Management Board of XTB…

Revolut, the UK fintech giant, is contemplating a significant expansion in its revenue streams by venturing into the digital advertising arena, akin to industry behemoths like Google, Facebook, and Amazon. According to a report from the Financial Times, Revolut aims to rake in around £300 million (approximately $370 million) in advertising revenue by the year 2026. Antoine Le Nel, Revolut’s Head of Growth, hinted at this potential shift, stating, “We could become a media [business]… a place where you have an audience and data about the audience, and you monetize this.” Le Nel acknowledged the wealth of user data within…

The Financial Conduct Authority (FCA) of the UK has issued a warning regarding a suspected clone firm, forexeze.com and forex-eze.com, which falsely claims to be associated with a legitimately registered company. In a recent notice, the FCA clarified that these websites are not authorized to provide financial services. The regulator highlighted that this clone firm is impersonating Forexeze Limited, a genuine entity with an FCA Firm Reference Number of 809435. Forexeze Limited is located at Scottish Provident House in Harrow, Middlesex, and can be contacted via telephone at +442088613040 or through its official email, [email protected]. The clone, however, uses different…

The latest Bitcoin halving event occurred at block 840,000, effectively halving the mining reward from 6.25 to 3.125 Bitcoins. This mechanism introduces new Bitcoins into circulation and is a critical component of the cryptocurrency’s infrastructure aimed at managing supply. Bitcoin halvings are scheduled roughly every four years, marking every 210,000 blocks mined. This deliberate reduction in the flow of new Bitcoins helps to mitigate inflation and preserve the cryptocurrency’s value by enforcing scarcity. Since Bitcoin’s inception on January 3, 2009, there have been multiple halving events. Initially, miners received 50 Bitcoins per block. The reward was first halved to 25…

Kraken, a prominent cryptocurrency exchange, has taken a significant step to enhance its footprint in the U.S. market by acquiring TradeStation Crypto, the cryptocurrency-focused division of online brokerage TradeStation. This strategic move was reported by Coindesk as part of Kraken’s broader efforts to solidify its presence across the United States. While the acquisition has been confirmed by both parties, specific details such as the closing date and financial terms of the deal have not been disclosed. “We can confirm Kraken has recently purchased TradeStation’s crypto business,” a Kraken spokesperson stated in an email to a crypto-focused publication. They elaborated, “This…