RoboFi News Review: Top Crypto News of the Week
This week’s news roundup is presented below.
Mastercard, Binance launching prepaid card in Brazil
Mastercard Inc (MA.N) and Binance announced the launch of a prepaid card in Brazil, Latin America’s largest economy, as part of the crypto giant’s aim to “broaden the relationship between traditional banking and crypto” on Monday. Read More.
Block.one’s revived $22 mln settlement could be template for crypto class actions
Following the rejection of a proposed $27.5 million settlement of tokenholders’ class action securities fraud claims last summer, as well as an aborted takeover of the litigation by a different plaintiffs’ firm, blockchain company Block.one has reached a new $22 million deal with investors, which may serve as a template for future crypto class action settlements. Read More.
Britain’s finance ministry sets out draft rules to regulate cryptoassets
On Wednesday, Britain’s finance ministry unveiled its first set of cryptoasset regulations, citing continued turmoil in the market and the collapse of exchange FTX as examples of risks that must be addressed. Read More.
Crypto exchange Kraken shuts Abu Dhabi office
Kraken, a cryptocurrency exchange, has closed its Abu Dhabi office less than a year after obtaining a license in the region, according to a spokeswoman on Thursday, as the business looks to concentrate its focus following FTX’s bankruptcy, which shocked the digital assets sector. The US-based company announced last year that it will downsize its employment by 30%, or approximately 1,100 employees, as rising interest rates and fears of an economic slump soured enthusiasm toward cryptocurrency. Read More.
U.S. prosecutors probe Silvergate’s dealings with FTX, Alameda -source
According to a source familiar with the investigation, federal prosecutors in Washington are looking into Silvergate Capital Corp (SI.N) and its ties with the bankrupt crypto exchange FTX and Alameda Research. According to the source, prosecutors from the Justice Department’s fraud division are involved in the criminal investigation into the crypto-focused bank’s transactions. Following the demise of FTX, Silvergate has come under increased scrutiny. Read More.
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