[ad_1] Source: Adobe Deutsche Bank and Standard Chartered’s venture arm SC Ventures are exploring a solution that aims to enable seamless communication between blockchain-based transactions, stablecoins, and central bank digital currencies (CBDCs). The two banks are actively testing the concept using the Universal Digital Payments Network (UDPN), a permissioned blockchain system that involves a consortium of banks, financial institutions, and consultancies operating validator nodes, according to a CoinDesk report from
[ad_1] Image Source: CNBC FTX founder Sam Bankman-Fried began testimony in his own fraud trial on Thursday, defending himself from accusations of intentionally defrauding his exchange’s customers. Prior to taking the stand, SkyBridge Capital founder Anthony Scaramucci said that the former crypto mogul’s odds against government prosecutors are bleak. “He’s gonna get skinned alive;” said Scaramucci in an interview with CNBC on Thursday. “There’s no way to escape. He thinks
[ad_1] Kraken will provide user data to the IRS after a legal battle over crypto tax reporting. Image by Michael O’Keene, Adobe Stock.Major U.S. cryptocurrency exchange Kraken will provide limited user information to the Internal Revenue Service (IRS) next month following a court order received in June. The data concerns specific Kraken users who conducted transactions over $20,000 between 2016 and 2020. IRS Gains Limited Access to Kraken User Data
[ad_1] Bankman-Fried began his formal testimony in front of the jury shortly before 10 a.m. this morning in his landmark fraud case. It comes after his “dry-run” in front of Judge Kaplan yesterday afternoon following disputes between the prosecution and defense over what the defendant could discuss in his testimony. “A lot of people got hurt” On the stand, the disgraced FTX founder claimed he set out to “build the
[ad_1] Researchers from Florida Atlantic University and the University of Mississippi recently published research indicating that blockchains with “full” blocks — especially when there’s a transaction queue — appear to have an added layer of protection against nefarious actors, money launderers, and would-be fraudsters. Dubbed, “Bitcoin Blocksize, Custodial Security, and Price,” the team’s paper takes a deep dive into the Mt.Gox crash and other instances where cryptocurrency has been stolen from
[ad_1] Bitcoin price prediction has become the talk of the crypto community as BTC recently retraced to a crucial $34,000 support level. Amidst an array of fundamental changes in the cryptocurrency landscape, from the U.S. SEC’s ongoing review of Bitcoin ETP proposals to the U.K.’s stringent crypto regulations, the leading digital currency showcases its resilience. Not to mention, significant asset transfers from FTX’s bankruptcy estate have further stirred the pot.
[ad_1] Binance Logo / Source: Adobe A crypto expert has urged his customers to withdraw their crypto from the world’s largest cryptocurrency exchange Binance as soon as possible, telling them that “what we’re hearing about Binance is abnormal”. As reported in a tweet on X by Simply Bitcoin, the CEO of crypto self-custody firm Casa Nick Neuman sent an email out to clients on Friday outlining a concerning timeline of
[ad_1] The Federal Reserve Board continues to research a central bank digital currency (CBDC), or at least adjacent technologies, vice chair Michael Barr said on Oct. 27. He also touched on stablecoins at the Economics of Payments XII Conference where his English colleague Sir Jon Cunliffe made his last speech as deputy governor of the Bank of England (BOE).The Fed’s research is currently focused on “end-to-end system architecture,” such as
[ad_1] Bitcoin prices have spiked on ETF rumors, but utility and adoption will drive long-term growth. Image by Klemenso, Adobe Stock. The Bitcoin price has seen substantial volatility in recent weeks, largely driven by speculation around the potential approval of a Bitcoin exchange-traded fund (ETF) by the SEC. While Bitcoin bulls have cheered each new rumor of progress on the ETF front, whether the asset can sustain significant price increases
[ad_1] The jury overseeing the criminal trial of Sam “SBF” Bankman-Fried listened to the former FTX CEO’s testimony for the first time, which involved largely denying knowledge of fraudulent activities at the crypto exchange.According to reports from the New York courtroom on Oct. 27, Bankman-Fried suggested Wang, the former chief technology officer at FTX, had been partly responsible for creating the “allow negative” button for Alameda Research. The feature gave
