Binance CEO Changpeng Zhao, also known as CZ, has expressed his reservations about Binance purchasing banking institutions. He cited reasons such as regulatory complexities and stringent capital requirements as factors influencing this decision. Despite the increasing concern over crypto companies being debanked, including Binance’s own operations in Australia, CZ emphasized that the company is unlikely…
In November, Temasek made a decision to completely write off its investment in FTX. Singapore’s sovereign wealth fund, Temasek Holdings, has acknowledged its responsibility and committed to taking “collective accountability” for its unsuccessful $275 million investment in the now-defunct crypto exchange FTX. In a statement issued on Monday morning, Temasek stated that there was fraudulent…
JPMorgan’s ChatGPT competitor, IndexGPT, will be utilized in different areas such as advertising, business consulting, and various finance-related software services. JPMorgan Chase, a large financial services company, applied for a trademark called IndexGPT, signaling its participation in the race to create a generative AI tool for business use. JPMorgan Chase submitted a trademark application for…
Binance Continues to Halt Trading of Cryptocurrencies against Australian Dollar (AUD). Binance, the biggest cryptocurrency exchange globally, announced on Friday that it will be removing additional trading pairs against the Australian Dollar (AUD) from its platform. This decision follows the recent discontinuation of support for numerous cryptocurrencies paired with AUD. The move comes in response…
The company wants to take advantage of Hong Kong’s renewed potential as a crypto hub, as the city works on creating clear rules for digital assets. According to a report from Bloomberg on Friday, HashKey Group, a company that provides financial services for digital assets, is planning to raise funds with a valuation of $1…
According to Berenberg, it would be very challenging for the crypto exchange to successfully transition away from the United States. Berenberg’s research report suggests that the Securities and Exchange Commission (SEC) is expected to take enforcement action against Coinbase (COIN) in a manner similar to the actions taken against other crypto exchanges like Bittrex and…