Author: News Desk
Monex Group, a prominent Japanese financial services giant, has announced its latest foray into the world of digital currencies with the acquisition of a majority stake in Canada’s 3iQ Digital Holdings, a renowned crypto asset management company. While specific details of the acquisition were not disclosed in the announcement made on Thursday, the move marks Monex Group’s strategic commitment to fortify its asset management business and tap into the burgeoning crypto asset management sector for institutional investors and global crypto exchanges. Yuko Seimei, the CEO of Monex Group, articulated the firm’s long-term vision, stating, “Our long-term strategy is to strengthen…
Creditors of the now-defunct cryptocurrency exchange, Mt. Gox, were caught off guard recently when they discovered that they had received their settlement funds twice. In response, the trustee overseeing the exchange’s rehabilitation process has begun sending emails to these creditors, requesting the return of the excess amount. A Reddit user shared the contents of an email received from the Mt. Gox trustee, which blamed a “system issue” for the double payments. Several other Reddit users also confirmed they had received duplicate payments and subsequent emails. The email stated, “Due to a system issue, the transfer of money to you was…
Bitzlato, the beleaguered cryptocurrency exchange, has taken drastic measures by suspending withdrawals and technical support for its users, citing this action as a “temporary measure.” This decision comes in the wake of recent developments that have rocked the exchange, including the co-founder and former CEO, Anatoly Legkodymov, pleading guilty to criminal charges and agreeing to dissolve the platform. In a communication shared on Telegram, Bitzlato’s team explained the reasons behind the suspension, stating that it is necessary to prepare for the upcoming court proceedings in France related to the seizure of user assets. Despite this challenging situation, the team conveyed…
Imagine a world where the traditional rules of cryptocurrency trading no longer apply. This is where perpetual decentralized exchanges (PDEXs) step into the spotlight, a relatively recent addition to the DeFi landscape. In a market that is in constant flux, perpetual DEXs have emerged as game-changers, with a market cap surpassing $2 billion. However, their journey hasn’t been without its challenges. Despite their innovative approach, perpetual DEXs have been striving to carve out a niche in a market largely dominated by centralized exchanges (CEXs). It’s akin to the story of David and Goliath – with perpetual DEXs accounting for just…
Grayscale Investments, a prominent cryptocurrency investment firm known for its management of the Grayscale Bitcoin Trust, recently witnessed significant changes in its board of directors. On December 26, Grayscale made an official filing (8-K) with the United States Securities and Exchange Commission (SEC) announcing the resignations of Barry Silbert, the founder and CEO of Digital Currency Group (DCG), Grayscale’s parent company, and Mark Murphy, the president of DCG. These resignations are set to take effect on January 1, 2024. In their place, the board will welcome new members, namely Mark Shifke, Matthew Kummell, and Edward McGee. As of January 1,…
The looming possibility of approval for spot Bitcoin exchange-traded funds (ETFs) is generating excitement, but ARK Invest CEO, Cathie Wood, warns of potential short-term drawbacks. Wood predicts that once securities regulators in the United States give the green light to a spot Bitcoin ETF, some investors may engage in a “sell on the news” strategy. In an interview with Yahoo Finance on December 26, Wood expressed her belief that investors who have witnessed substantial gains may opt to cash out as a preemptive move, given the considerable anticipation leading up to the ETF approval. She explained, “That’s an expression that…
In November, Toyota Motor (NYSE: TM) experienced a remarkable 11% surge in global production, reaching an all-time high. This substantial increase marked a significant rebound from the supply chain disruptions that plagued the automotive industry last year. Toyota’s impressive performance was primarily driven by robust demand in both its domestic Japanese market and overseas regions. The total production for November stood at an impressive 926,573 vehicles, a testament to Toyota’s resilience and adaptability in overcoming the challenges posed by the pandemic and semiconductor shortages that crippled automakers worldwide last year. It’s worth noting that these production figures also encompass vehicles…
On Wednesday, oil prices demonstrated stability following robust gains the previous day, as investors closely monitored developments in the Red Sea. Despite ongoing attacks and heightened tensions in the broader Middle East, some major shippers were resuming their passage through the region. Brent crude futures exhibited a modest increase of 15 cents, equivalent to 0.2%, settling at $81.22 per barrel by 0730 GMT. In contrast, U.S. West Texas Intermediate crude experienced a slight dip of 8 cents, equivalent to 0.1%, closing at $75.49 per barrel. The previous session had witnessed both benchmark prices surging by more than 2%, driven by…
Starting in 2024, approximately 5,800 South Korean government officials will be required to publicly reveal their cryptocurrency holdings. The Ministry of Personnel Management in South Korea announced on December 27th that information regarding government employees’ private cryptocurrency assets will be incorporated into the Public Official Ethics System. In the past, some Korean civil servants voluntarily disclosed their cryptocurrency holdings in the government’s official gazette or on the websites of various ministries and parliamentary chambers. However, with the implementation of the Public Official Ethics System, this information will become accessible to Korean citizens, providing transparency regarding the financial interests of government…
The Securities and Exchange Commission (SEC) has established a critical deadline of December 29, 2023, for applicants seeking approval for spot Bitcoin exchange-traded funds (ETFs). According to Reuters, the SEC recently convened with representatives from at least seven companies vying for approval of their spot Bitcoin ETFs, urging at least two of them to make final amendments to their applications by the impending deadline. Representatives from Nasdaq and Cboe were also present during this significant meeting. Among the companies actively seeking SEC approval for spot Bitcoin ETFs are notable names such as ARK Investments, 21 Shares, and Grayscale Investments. Additionally,…