Sao Paulo court rules against Binance in user withdrawal case
A court in São Paulo, Brazil, handed down a ruling against crypto exchange Binance that faced a complaint related to withdrawals. A user has filed a lawsuit against the exchange, saying he tried to retrieve his funds but could not from the platform and received nearly $2,000 in damages as a result of a court decision in September. Judge Rafael Almeida Moreira de Souza, who oversaw the case, says that each and every action is necessary to exist with dignity and to compensate the victim for the moral damages suffered and to punish the perpetrator. should be done so that such act or behavior is not repeated.
Bitcoin, Ethereum Technical Analysis: BTC Reaches Highest Point Since September
We get bitcoin reaching its highest level since September as the US markets were ready to release sales data. Speaking of which, sales are expected to taper off ahead of this afternoon’s economic release as the consumer braces for a recession as well. Ethereum also received a climb in today’s news as it is seen near $1600.
Eurozone finance ministers pledge support for digital euro project, talk privacy
Support has been confirmed by the finance ministers of Eurozone countries in efforts to prepare for the possible launch of a digital euro. Meanwhile the monitory authority of the Single Currency Area reassured future users that the new currency would “preserve privacy by default and by design.”
Thailand issues new rules on detained cryptocurrencies
Thailand’s Securities and Exchange Commission (SEC) has issued new regulations for custodial cryptocurrencies, and the regulator clearly states that companies offering custody services will now be required to “handover digital assets and keys in an efficient manner.” A digital wallet management system will need to be set up to accommodate and ensure the security of customers’ assets”.
FTX Discovers $5.5B in Liquid Assets – Debtors Seek Ways to Maximize Recovery Through Possible Sale of Subsidiaries, Real Estate
FTX Related Debtors updated the public and detailed that the firm’s current fans have discovered $5.5 billion in liquid assets to date. The new CEO and restructuring officer, John J. Top-level executives other than Ray III met with the unsecured committee of the bankruptcy case to share the news.
Biggest Movers: SHIB hit a 2-month high on Wednesday
Shiba Inu reaches its monthly high on Wednesday as meme coins hit a key price boundary and in today’s session we see a 17% increase in prices as the global cryptocurrency market also turned higher today. Polkadot was once again in the green, and by doing so itself was seen close to 2-month highs.
Sam Bankman-Fried controversy claims FTX US ‘shortfall’, critics doubt Excel spreadsheet defense
Former CEO SBF published a blog post in its newsletter when the debtors received an update on the $5.5 billion discovered by fans during the investigation. Accordingly they stated that the litigation, published by the firm Sullivan & Cromwell, is grossly misleading and that FTX USA is fully solvent and always has been.
Digital Currency Group Suspends Dividend Amid Regulatory Trouble With Subsidiary Origin
The companies have suspended their dividends until further notice, according to a letter from the digital currency group seen by finance and crypto publication CoinDesk. The US and Securities Exchange Commission, DCG, charge the subsidiary firm of Genesis Global Capital with “conducting an unregistered offer and after sale of securities to retail investors”.
Nearly $1 billion pumped into Egypt’s forex market – local currency now world’s worst performing currency in 2023
Egypt’s central bank claims that the decision to devalue the local currency has been vindicated by the return of foreign investors to the country’s forex market, which reportedly pumped in $925 million in three days. In other words, an increase in the sale of Treasury bills that have maturities of 1 year or less is said to justify the central bank’s devaluation of the pound.
Bitzlato exchange busted as US deal deals ‘blow to crypto crime’, owner arrested
According to the US Department of Justice, cryptocurrency exchange Bitzlato, better known for its Russian language segment of the market, has been taken into international cryptocurrency enforcement proceedings. The Russian owner of the platform has been arrested for his role in illegal money transmission and claims he was hacked, according to Bitzlato.
Ethereum Gas Fees Spike As ETH Price Rises: Average Onchain Fee Jumps Over 50%
Ethereum, the second asset by market capitalization, is up 27% against the US Dollar in the past two weeks. Gas fees for the average size of the network have registered an increase of over 50%. The first day of 2030 saw the average fee to spend Ether at approximately $2.93 per transfer, a 54% increase over the average cost of $4.52 per transfer today.
Japan urges regulators around the world to subject crypto exchanges to bank-level supervision
Japan has reportedly urged other countries, including the US, to regulate crypto exchanges in the same way as banks. According to a top official of the Financial Services Agency, the recent FTX implosion was brought about not by crypto technology but by lax governance and the absence of internal controls and supervisors. Deputy Director General Mamoru Yanase expressed his views and said that if you want to implement effective regulation, you have to act like you regulate and supervise traditional institutions. Along with this, Japan has urged that crypto assets should be regulated so that the defects prevailing in it can be eliminated.
South Korea Will Regularly Inspect Crypto Risks With New Monitoring Tools
South Korea’s financial regulator is apparently developing or working on a tool to regularly monitor crypto risks, and the regulator warned that the crypto market’s influence on the traditional financial system is still small. And the risks posed by crypto to the country’s financial stability are likely to increase exponentially in the future and are at risk of increasing. To oversee all these risks, FSS Governor Lee Bok-hyun revealed at a conference on Monday that the financial supervisory service is planning different initiatives to manage the risk of virtual assets this year.
