Day: 27 June 2023

Chibi Finance, a recently launched DeFi project, has been accused of orchestrating a "rug pull" and disappearing with approximately $1 million in customer deposits. An on-chain investigation conducted by PeckShield revealed that 555 ether (ETH) from the platform's liquidity pools has been stolen. The Chibi Finance team allegedly converted tokens ...

Tom Mutton, the director of FinTech at the Bank of England (BoE), has disclosed why the central bank might explore alternatives to blockchain as the underlying technology of its CBDC program.  In an interview with Bloomberg UK, Mutton noted that a significant debate arose regarding the choice of ledger for ...

Prominent financial institutions in the United States, including BlackRock, Fidelity, Bank of America, JP Morgan, Morgan Stanley, Goldman Sachs, BNY Mellon, and Invesco, are making their entry into the digital asset space. These institutions, which collectively manage an estimated $27 trillion in assets, are actively working on providing their clients ...

Riot Platforms, one of the world's largest Bitcoin mining businesses, has made a significant investment of $162.9 million to purchase 33,280 "next-generation" miners from MicroBT, a leading supplier of mining equipment. The company announced this development on June 26, 2023, via post on its website.  Jason Les, Riot Platforms’s CEO, ...

FTX Debtors, released their second investigative report on June 26, 2023, and it contains allegations of misappropriation of funds and extravagant spending on unrelated projects by former executives of the bankrupt company. The report focused on the misuse of client funds and shed light on charitable contributions made through the ...

Jeremy Allaire, the CEO of Circle Internet Financial Ltd, has expressed the company's keen interest in Hong Kong's ambitions to establish itself as a leading hub for stablecoins and digital asset markets. During an interview with Bloomberg Television at the World Economic Forum in Tianjin, China, Allaire highlighted that Asia ...

Bybit FinTech FZE, a subsidiary of Bybit, has achieved another milestone in its quest to establish its operations in the United Arab Emirates.  On June 27, 2023, the exchange announced that it had obtained the Minimum Viable Product (MVP) Preparatory Licence from Dubai's Virtual Assets Regulatory Authority (VARA). This new ...