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1. OKX Expands Sponsorship Deal with Formula One McLaren Racing Team

   <p class="MsoNormal">Malta-based OKX, which operates a global crypto <a href="https://www.financemagnates.com/terms/e/exchange/" class="terms__main-term" id="b5da6e64-2afe-421d-9b81-16404b7d59d6">exchange</a>, announced the extension of its partnership with British Formula One (F1) team McLaren Racing on Thursday. </p><p>OKX...

2. Signature Bank's Crypto Depositors Get April 5 Account Closure Deadline

   <p>The Federal Deposit Insurance Corporation (FDIC) has asked cryptocurrency clients of collapsed Signature Bank to close their accounts by April 5 by finding <a href="https://www.financemagnates.com/cryptocurrency/bank-failures-leave-us-crypto-businesses-in-the-cold/" target="_blank" rel="follow">another banking partner</a>. Otherwise, the...

3. The Role of Stablecoins in Cross-Border Payments: Opportunities and Risks

   <p class="MsoNormal">With high fees, long transaction times, and the danger of currency fluctuations, cross-border payments have always been difficult for individuals and businesses equally. However, the rise of stablecoins has opened up new avenues for efficient and safe cross-border payments. In this essay, we will look at the role of stablecoins in cross-border payments, the...

4. The Dark Side of the Blockchain

   <p class="MsoNormal">Blockchain technology has been touted as a solution to the issue of financial exclusion, promising a more inclusive and accessible financial system. However, there is a growing concern that the implementation of blockchain technology could backfire spectacularly, further exacerbating the already existing technological gap while aggravating financial...

5. Exclusive: FTX Europe Launches New Website for Customer Balance Withdrawal

   <p class="MsoNormal">FTX Europe, the European subsidiary of bankrupt cryptocurrency exchange, FTX, has created a new website for its customers to withdrawal their balance from the platform. The new domain name, https://ftxeurope.eu/, was approved by the Cyprus Securities and Exchange Commission (CySEC).</p><p class="MsoNormal">Finance Magnates learned the...

6. Galaxy Digital Turns $1.7b Net Income from 2021 to $1b Loss in 2022

   <p class="MsoNormal">The publicly-listed cryptocurrency company founded by an American investor Michael Novogratz, Galaxy Digital Holdings (<a href="https://www.financemagnates.com/tag/galaxy-digital-assets-fund/" target="_blank" rel="follow">TSX:GLXY</a>) has published its full-year results for 2022. Galaxy showed a massive net loss due...

7. Thailand Considers Lifting THB 300K Retail ICO Limit

   <p>Thailand’s Securities and Exchange Commission (SEC) is considering lifting the 300,000 baht (about $8,800) retail investment limit for initial coin offerings (ICO) to stimulate investments in digital tokens. </p><p>Thailand to Remove ICO Limit </p><p>As reported by the local media Bangkok Post, the <a...

8. Kraken Files Pre-Registration with Canada’s Ontario Regulator

   <p class="MsoNormal">Kraken, one of the longest-running cryptocurrency exchanges in the industry, has filed a pre-registration with the Canada’s Ontario Securities Commission (OSC). The move is part of the US-based digital asset firm’s efforts to become a registered Restricted Dealer across all regions in Canada. </p><p class="MsoNormal">The cryptocurrency...

9. FTX’s Bankman-Fried Pleads Not Guilty to $40M Chinese Bribery Charge

   <p class="MsoNormal">On Thursday, Sam Bankman-Fried, the embattled Founder of bankrupt cryptocurrency exchange, FTX, pleaded not guilty to new charges from US prosecutors, including bribing Chinese officials with $40 million. Additionally, the 31-year-old crypto entrepreneur pleaded not guilty to conspiracy to violate campaign finance regulations through unlawful political...

10. Ormenus Coin Scammers to Pay $102 Million as Recovery and Fine

    <p>The US Securities and Exchange Commission (SEC) has obtained a final judgment against the Barksdale siblings, John and JonAtina (Tina) Barksdale, seeking a total of over $102 million from the duo as recovery and fines for <a href="https://www.financemagnates.com/cryptocurrency/onecoins-legal-head-extradited-to-the-us-faces-charges/" target="_blank"...

11. Kraken Crypto Exchange Sponsors Williams Racing F1 Team

    <p> Williams Racing and Kraken, a popular crypto platform, announced a global partnership ahead of the Australian Grand Prix in Melbourne. This marks Kraken's first-ever official crypto and Web3 partner of the Formula 1 (F1) team.</p><p>Kraken and Williams Racing Announce Crypto Partnership</p><p class="MsoNormal">According to a press release <a...

12. Bybit Eyes Ethereum’s Shanghai Upgrade, Launches ‘Optimized’ ETH Staking

    <p class="MsoNormal">Bybit, a Dubai-based cryptocurrency exchange, is aiming for future opportunities expected from the Shanghai Upgrade to the <a href="https://www.financemagnates.com/terms/e/ethereum/" class="terms__secondary-term" id="230aa7bc-daf7-4523-af41-90671a2e79de">Ethereum</a> decentralized blockchain. On Friday, the exchange...

13. The Role of Enterprise Ethereum: Applications, Benefits, and Challenges

    <p class="MsoNormal">Enterprise Ethereum is a blockchain network created primarily for enterprises. It is built on the Ethereum blockchain, which is well-known for its adaptability and scalability. This article will look into Enterprise Ethereum's position in business, including its applications, benefits, and challenges.</p><p class="MsoNormal">What...

14. Gemini Explores to Launch Global Crypto Derivatives Trading Platform

    <p class="MsoNormal">Gemini, the <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" class="terms__main-term" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa">cryptocurrency exchange</a> owned by the Winklevoss twins, is examining possibilities to launch an international crypto derivatives trading platform, according to...

15. The KYC and AML Challenges of Cryptocurrency Exchanges: Solutions and Best Practices

    <p class="MsoNormal">The rise of cryptocurrency has heralded the dawn of a new age in digital finance. However, with the advent of this new technology, new challenges have emerged that conventional finance has not seen before. Among these difficulties are the Know Your Customer (KYC) and Anti-Money Laundering (AML) laws, which cryptocurrency exchanges must follow. </p><p...