[ad_1] Our weekly roundup of news from East Asia curates the industry’s most important developments. Huobi’s disgruntled employees According to local media reports, cryptocurrency exchange Huobi Global has terminated all year-end employee bonuses and benefits, as well as axed its entire core development staff located in mainland China. The laid-off staff will be instead switched to “advisory contracts” that do not receive protection under Chinese labor laws. Employees also claim
[ad_1] The United States Securities and Exchange Commission (SEC) on Jan. 12 charged cryptocurrency lending firm Genesis and crypto exchange Gemini with offering unregistered securities through Gemini's "Earn" program.“We allege that Genesis and Gemini offered unregistered securities to the public, bypassing disclosure requirements designed to protect investors,” said SEC Chair Gary Gensler in a statement.Gensler added the charges "build on previous actions to make clear to the marketplace and the
[ad_1] Republicans in the United States House of Representatives reportedly plan to step up their oversight of the crypto industry with the creation of a new subcommittee.According to a Jan. 12 report from Politco, North Carolina Representative Patrick McHenry, chair of the House Financial Services Committee, said he planned to set up the subcommittee in part due to “a big hole” in how the committee is currently structured. Arkansas Representative
[ad_1] The crypto community has voiced their opinions on former FTX CEO Sam “SBF’ Bankman-Fried’s “pre-mortem overview” of the collapse of FTX he published on Jan. 12 as a letter on Substack. https://t.co/XVd0BPHxEU— SBF (@SBF_FTX) January 12, 2023 As previously reported by Cointelegraph, SBF denied the allegations made against him in the lengthy letter and maintained that FTX US had been “fully solvent” at the time the firm filed for Chapter 11 bankruptcy, with
[ad_1] Nigerian crypto exchange Roqqu was granted a virtual currency license for the European Economic Area, after two years waiting for the permission from regulatory authorities. The move allows the firm to operate in 30 countries and broaden its services within one of the world's largest crypto markets.Speaking to Cointelegraph, the company said that seeks to attract early traders looking to gain an edge in the crypto space by offering
[ad_1] Bitcoin (BTC) price has gained 15% in the past 13 days, and during this timeframe, traders’ bearish bets in BTC futures were liquidated in excess of $530 million compared to bulls.After rallying to $19,000 on Jan. 12, Bitcoin reached its highest price since the FTX exchange collapse on Nov. 8. The move was largely fueled by the United States Consumer Price Index (CPI) expectation for December, which matched consensus
[ad_1] The crypto and blockchain space has had a turbulent past year, but that is not stopping users and enterprises from looking into the industry.A new survey from CasperLabs and Zogby Analytics revealed that the sentiment around blockchain adoption is especially positive among enterprises. The poll was conducted via 603 business enterprise “decision makers” in the United States, the United Kingdom and China. Nearly 90% of the businesses surveyed reported deploying
[ad_1] Joseph Bankman, the father of former FTX chief executive officer Sam Bankman-Fried, has reportedly hired an attorney as the criminal case against his son moves forward.According to a Jan. 12 report from Reuters, Bankman retained Sean Hecker of New York-based law firm Kaplan Hecker & Fink LLP. Bankman-Fried’s father reportedly advised and assisted his son on matters related to lobbying lawmakers in Washington D.C. and may now be cooperating
[ad_1] Economists at the Bank of International Settlements (BIS) took a look at the risks inherent in the crypto ecosystem and came up with a seemingly novel solution. “Develop an alternative,” they advised in a bulletin released on Jan. 12. What they had in mind was central bank digital currency (CBDC). The authors of the bulletin, headed by BIS senior economist Matteo Aquilina, said they sought lessons from the crypto winter
[ad_1] 2022 was a rollercoaster ride of ups and downs for the blockchain industry. While the year’s first quarter looked promising, the crypto industry has been on a downward trajectory ever since. While indications of a global macroeconomic slowdown increase, these headwinds hamper the blockchain industry’s potential recovery.There are some signs of stabilization in the crypto market and a potential upside at the start of the new year. For those
