FTX secretly used Deltec Bank to create and sell Tether for profit, lawsuit alleges
FTX companies created and profited from Tether through an arrangement with a partner bank, according to a court case described by Bloomberg on Feb. 17. The case quoted Caroline Ellison, former CEO of Alameda Research, as stating: “Alameda could create USDT on credit through the unofficial Deltec Line of Credit and sell that USDT for […]
OpenAI valuation crosses $80 billion following latest deal, Sora launch
OpenAI’s valuation has surged to above $80 billion after closing its latest deal, the New York Times reported Feb. 17. The company is reportedly undertaking a tender offer orchestrated by Thrive Capital to raise more funds while providing employees with a tangible benefit. Tender offer strategy Under the deal, OpenAI employees will be permitted to […]
Revolut to launch new crypto exchange amidst reports of listing Solana’s BONK memecoin
UK-based digital bank Revolut is preparing to introduce more extensive crypto exchange services, according to a report from Coindesk on Feb. 16. That report cites an email to a UK customer describing a “new crypto exchange, built with advanced traders in mind.” The email also promises that the exchange will feature “deeper analytical tools and […]
Bitcoin breaks $46,000 amid rampant ETF inflows reaching $403 million
Fast Take Farside Traders knowledge reveals that Bitcoin ETFs marked a major influx on Feb. 8 by posting $403 million in web inflows – the very best since Jan. 17. This rally additionally noticed Bitcoin surmount the $46,000 threshold to peak at over $46,300. The bullish development was appreciable throughout varied ETFs. Based on Farside […]
Bakkt says it’s ‘assured’ about persevering with operations after disclosing liquidity points in SEC submitting
Bakkt Holdings stated in a press launch on Feb. 8 that it’s “assured” it would proceed working regardless of expressing issues earlier over its liquidity in a regulatory submitting. Bakkt wrote that “administration stays assured” and intends to proceed serving purchasers and shifting towards profitability. The trade added that its submitting with the SEC for […]
US Treasury report finds crypto use in illicit monetary exercise stays small however rising fraction of complete flows
The U.S. Treasury Division stated on Feb. 8 that its newest danger assessments present that digital property at present characterize a small fraction of complete cash laundering flows in comparison with fiat currencies; nevertheless, they’re changing into an rising concern for regulatory and enforcement companies. The regulator revealed the findings in its 2024 Nationwide Threat […]
Montenegro appellate courtroom blocks Do Kwon’s extradition
In a big authorized turnaround, the Appellate Court docket of Montenegro issued a choice on Feb. 7, 2024, overturning the earlier ruling of the Excessive Court docket in Podgorica regarding the extradition of Terraform Labs founder Hyeong Do Kwon. The courtroom’s resolution was introduced in a press launch printed on Feb. 8. The case, marked […]