Several regional banks in the United States saw a significant decline in their stock values during after-hours trading on May 4, 2023. PacWest Bancorp, in particular, suffered a 52.5% drop, and this has led the bank to consider...
Coinbase will stop providing new loans through its Coinbase Borrow service, which offers eligible US customers cash loans using their crypto assets as collateral. The company sent an email to Borrow customers on May 3, 2023, stating that...
The UK government has launched a new strategy to combat financial fraud, which according to the National Crime Agency, cost the country approximately £7 billion ($8.7 billion) per year. The strategy includes plans to ban cold calls that...
Dubai's Virtual Assets Regulatory Authority (VARA) has issued a written notice to the co-founders of Three Arrow Capital, Su Zhu, and Kyle Davies, for operating and promoting a digital-asset exchange, OPNX, without the necessary local license. According to...
Gate Italy s.r.l., a subsidiary of cryptocurrency exchange Gate Group, has announced its registration as a Virtual Asset Service Provider (VASP) with the Italian regulatory agency Organismo Agenti e Mediatori (OAM). The registration would allow the company to...
The Biden administration has reiterated its support for the proposed Digital Asset Mining Energy (DAME) tax, which would impose a 30% excise tax on the electricity consumed by cryptocurrency miners. The White House's Council of Economic Advisers (CEA)...
On May 1, 2023, ARK Invest, an investment management firm, announced that it had increased its stake in Coinbase by acquiring 168,869 shares, valued at $8.5 million, and adding them to its portfolio exchange-traded funds (ETFs): Ark Innovation...
Samsung has banned its employees from using generative artificial intelligence (AI) tools, such as ChatGPT, in their workflow and office routines. This decision came after some engineers uploaded sensitive company information to the ChatGPT platform. An internal memo...
Coinbase is facing a class-action lawsuit in a California District Court over allegations of violating Illinois's biometric privacy laws. The lawsuit, filed on May 1, 2023, by a Coinbase user, claims that the exchange's requirement for customers to...
Bitcoin (BTC) has been experiencing significant fluctuations lately. On April 26, 2023, BTC plunged significantly, falling by over 7% within just one hour. Based on CoinGlass figures, traders incurred enormous losses of approximately $310 million in the last...
