Alpaca Finance Institutional Newsletter #61
Highlights
- SBF found guilty on all charges in historic crypto fraud trial
- Kraken to Share Data of 42,000 Users with IRS Due to Court Order
- MAS partners with Japan, Switzerland, and UK for joint digital asset pilots
Former FTX CEO Sam Bankman-Fried was found guilty on all seven charges in his New York trial, including wire fraud and money laundering conspiracy. He faces sentencing on March 28, 2024, with a potential maximum 20-year prison term. The U.S. Attorney called his crimes a “multibillion-dollar scheme.” Other FTX executives have pleaded guilty and testified against him. Bankman-Fried maintains his innocence and plans to keep fighting the charges.
Kraken will share data from 42,000 users with the IRS in compliance with a court order. The shared data includes names, dates of birth, tax IDs, addresses, contact information, and transaction history. A similar case involving the IRS and Coinbase is under review by the U.S. Court of Appeals for the First Circuit.
Singapore’s central bank, MAS, is teaming up with financial regulators in Japan, Switzerland, and the UK for joint digital asset pilots, expanding on their Project Guardian. This collaboration will focus on areas like fixed income, foreign exchange, and asset management products. The goal is to establish common standards, address potential risks, and promote cross-border cooperation in the digital asset industry.
News
- Sam Bankman-Fried found guilty on all 7 charges in FTX fraud trial
- Kraken will share data of 42,000 users with IRS
- Singapore plans joint crypto pilots with Japan, Switzerland and UK
- Hong Kong advances CBDC pilot, bringing e-HKD trials to phase 2
Products
- Coinbase launches regulated crypto futures services for US retail traders
- Standard Chartered-owned crypto platform Zodia launches in Hong Kong
- Web3 wallet Backpack to launch VASP-licensed crypto exchange in Dubai
- ProShares announces launch of short Ether-linked ETF
Regulation
- UK publishes plans for stablecoins regulation
- PayPal receives SEC subpoena over U.S. dollar-pegged stablecoin
- Turkey aims to shed FATF ‘grey list’ status with new crypto regulations
- Abu Dhabi Global Market introduces comprehensive DLT Foundations Regulations
Funding
- Arta collaborates with Chainlink for Regulated Fund Tokens
- Andreessen Horowitz planning to target $3.4 billion for next early-stage funds
- Moonveil raised $5.4 million in funding towards the launch of two Web3 games
- Anboto Labs secures $3 million in funding, launches non-custodial trading platform
