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The Monetary Authority of Singapore banned for nine years two founders of the failed crypto hedge fund Three Arrows Capital (3AC) Former CEO Zhu Su and Chairman Kyle Davies were given prohibition orders that prevent them managing, directing or becoming shareholders of any capital market services firms in the city state for the period.  Kyle Davies, Su Zhu, Mark Lamb Three Arrows Capital Was Once One Of The Largest Crypto Hedge Funds Three Arrows, once one of the biggest crypto hedge funds with some $10 billion in assets under management, filed for bankruptcy in July last year after hitting financial difficulties following the implosion of the Terra ecosystem. It imploded with debts of some $3.5 billion. After the MAS had previously reprimanded 3AC for providing it with false information, it conducted further investigations that uncovered new breaches. These included failing to notify it in a timely fashion of a new hire, providing it with false information in connection with...

As per the reports, The ‘Investment Association’ of the UK has urged the government and banking regulatory authorities to authorise blockchain-traded funds (BTF). BTF uses digital tokens instead of traditional shares. On June 7, 2022, the association published a 32-page brochure named “Investing for The Future” on its official website. The UK government has eased certain regulations for Cryptocurrency this year. Keeping this in mind, the trade group wants the government to create a new class of funds that use blockchain technology which will substitute traditional shares. There will be the formation of a task group which will investigate how the distributed ledger technology will aid the development of new goods and services. Buy Bitcoin Now Your capital is at risk.  What is BTF? A blockchain traded fund (BTF) comprising of Bitcoin or assets linked to the price of various cryptos is known as a Bitcoin ETF or BTF. Instead of a cryptocurrency exch...

It would appear that early investors in Axie Infinity are switching their attention to the IBAT token being issued by Battle Infinity. The DEX public launch has seen the same level of interest in the token as the presale. Investors in Axie Infinity think P2E ecosystem IBAT has the potential to replicate the massive success of Axie Infinity in 2020 and 2021. Therefore, they are prepared to acquire IBAT before its price skyrockets and hope to get in on the ground floor. In case you’re curious, here are 5 reasons why Axie Infinity investors are parking their funds in IBAT and you should too. Rapid Pre-Sale Sell-Out As a further indicator of the high demand for the project, the presale of IBAT was completely subscribed in record time, which has attracted many early investors from Axie Infinity. In just 24 days, the IBAT presale raised 16,500 BNB, or almost USD 5 million. Although the presale was scheduled to last 90 days, all tickets were purchased 66 days early. To give ...

Join Our Telegram channel to stay up to date on breaking news coverage Considering that the month of august has been a very tumultuous time for the crypto market , the timing has never been better to invest in cryptocurrency projects that have just been listed on various leading exchanges or are on the verge of getting listed. Your investments in the following 6 cryptocurrencies will yield results enough to help you achieve financial freedom and retire early on in life. While these coins are handpicked, they have been thoroughly analyzed before being listed below. Battle Infinity (IBAT) A broad array of peer-to-peer (P2E) and decentralized finance (DeFi) functions may be found inside the Battle Infinity (IBAT) cryptocurrency ecosystem. During the presale, the initiative was able to raise more than 16,500 BNB in just 25 days, demonstrating that it has had a good deal of success. It is possible that IBAT may be included to leading crypto trading websites sooner rather than...

Chainlink is a decentralized network of nodes that provide data and information from off-blockchain sources to on-blockchain smart contract s via oracles. This process, along with extra secure hardware, eliminates the reliability issues that might occur if using only a single centralized source. The Chainlink blockchain is powered by three types of smart contracts Aggregating Contracts  — Collect data from oracles and match the most accurate results with the smart contract that needs them. Order-Matching Contract  — Matches a smart contract’s service level agreement (SLA) with the best bidding oracles. Reputation Contract — Verifies an oracle’s integrity by checking its track record. This includes factors such as the total number of completed requests, average response time, and amount of LINK cryptocurrency the oracle has staked. In addition, contract holders use LINK to pay Chainlink node operators for their work. Moreover, prices are set by the Chainlink node operator ba...

Join Our Telegram channel to stay up to date on breaking news coverage The notorious Terra environment breakdown, which expunged market rates for LUNA and TerraUSD coins, worries shareholders as founder Do Kwon, virtual currency transactions, and the public work together to determine the best path for a viable price healing. Changpeng Zhao, the Chief operating officer of cryptocurrency exchange Binance, lately proposed a plain 1. 2% exchange fee on LUNC transactions that might be consumed to decrease the token&rsquo ;s total money supply and enhance its current price. In a statement to the public, CZ asserted that they’d enforce an opt-in toggle on the Binance interaction for individuals to choose whether or not to spend a 1.2% fee on the LUNC transactions. I answered the question about LUNC in my Twitter Space AMA just now. Another option is to implement a feature to let users opt-in for a 1.2% trading fee themselves for burn. And see how many of the voting community ...

Source: Adobe/Web Buttons Inc   Crypto derivatives exchange and yield platform CoinFLEX aims to turn the debt of a " high integrity " individual into a token called Recovery Value USD (rvUSD) in order to fund other customers' withdrawals . Not everyone is impressed with these plans.  The exchange will issue rvUSD 47m at a price of USDC 1 per coin, cumulatively raising USD 47m. Potential buyers will be offered a 20% Annual Percentage Rate (APR) rate in addition to other perks, including 2.5M FLEX coins (USD 2.3m) distributed proportionally across all holders. Meanwhile, a number of industry observers were quick to argue that there are resemblances between the plan and Ponzi schemes. "Can anyone remind me, what's that thing called where you need new investors in order to pay out old investors?" said Joey Politano, an economist and a Financial Management Analyst at the US Bureau of Labor Statistics . "Lent money and can’t get the debt ...

XRP continues to be a favorite for investors and continues to be among the most traded coins by volume. Even though volume in the last 24hrs was down 25% compared to the 24hrs before, XRP trails only Bitcoin, Ethereum, and the three-largest stablecoins (USDT, USDC, BUSD) with $1.7 billion in volume. Its short-term prospects could see the coin go as high as $0.60-$0.70 - as CryptoNews reported on Thursday - but it's the coin's long-term potential that has investors excited. As everyone in the crypto space knows, XRP's parent company Ripple has been locked in a near two-year battle with the US Securities and Exchanges Commission (SEC). Despite the long court case, XRP has remained in the top 10 by market cap, given the strength of its underlying technical fundamentals. If Ripple wins its court case, it appears primed to be adopted on a mass scale at an institutional level – not only by businesses but even by central banks and governments.  A win in court w...