This report will provide some essential and quick news about the cryptocurrencies happening worldwide.
1) Banking Issues with Crypto Hedge Funds Have Persisted in Recent Years
Over the past three years, crypto hedge funds have encountered significant challenges in obtaining fundamental banking services, according to a poll conducted by the Wall Street Journal. 120 of the 160 funds surveyed reported ongoing challenges, including difficulty maintaining consistent financial relationships and opening accounts. These challenges underscore the financial system’s reluctance to engage with companies associated with cryptocurrencies, thereby affecting the sector’s potential for growth…[continue reading]
2) Nigeria SEC to introduce crypto influencer regulations
The new laws that the Nigerian Securities and Exchange Commission (SEC) has announced will govern the activities of crypto influencers in the country. The introduction of this new regulation signifies an improvement over the industry’s previous regulations. The new development mandates that all crypto platforms obtain a license from the entity prior to engaging in any promotional activities. This encompasses advertising in print, social media, radio, and television…[continue reading]
3) Israeli indicted by US DOJ for LockBit hacking participation
The US Department of Justice (DOJ) has filed charges against Rostislav Panev, a 51-year-old dual citizen of Russia and Israel, for his purported involvement with LockBit, the infamous ransomware group. Currently, the Department of Justice is pursuing his extradition from Israel, where he was apprehended…[continue reading]
4) Japan’s Metaplanet buys bitcoin with $61 million in bonds
The Tokyo-listed company announced today that it has resolved to issue a fifth ordinary bond in the amount of 5 billion yen ($31.9 million), in addition to the 4.5 billion yen ($28.7) bond issuance that was announced on Tuesday. Both bonds will mature on June 16, 2025, and they do not bear interest…[continue reading]
5) Michael Saylor’s proposed Bitcoin strategy is condemned by Peter Schiff
Schiff, who is known for his vehement opposition to Bitcoin (BTC), argued in a post on X that Saylor’s analogy was flawed. “It is possible to utilize revenues generated by real estate to service and repay debt.” Schiff declared, “Bitcoin does not generate any revenue to fund interest or principal payments.”…[continue reading]
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