German fintech firm Caiz Development is working to establish a new Sharia-compliant crypto and blockchain enterprise that will allow unbanked or underbanked people in the Middle East take advantage of digital assets. Caiz Development Is Helping the Middle East Get Acquainted with Crypto The goal is to ensure the platform is fully compatible with those who follow the Islamic religion. […]

Stuart Alderoty, who is FinTech firm Ripple’s General Counsel, says that although his firm still has quite a lot of employees inside the U.S. (presumably since the headquarters are in San Francisco), it is “effectively” operating outside the U.S. On 22 December 2020, the SEC announced that it had “filed an action against Ripple Labs Inc. and two of its executives, who […]

Recently, a list of the top states in the U.S. for cryptocurrency activity and businesses was released, and it looks like the Silver State – Nevada – took the number one position. Nevada Is Number One It’s an interesting scenario in that aside from Las Vegas, Nevada isn’t known for a whole lot. There’s a lot of gambling, liquor, and […]

Ripple (XRP) is trading above the $0.31 support and is in a downtrend. The cryptocurrency's downturn has eased as a sideways trend has set in. The support of $0.31, which was historically the price level for July, was not broken by sellers. Since July, the cryptocurrency has regained ground above the current support. For example, on September 22, XRP bounced […]

Recently, Travis Kling, Co-CIO of crypto asset management firm Ikigai Asset Management, shared “some pretty bad news” related to the collapse of crypto exchange FTX. On 10 November 2022, Sam Bankerman-Fried (aka “SBF”), Co-Founder and former CEO of bankrupt crypto exchange FTX International, took to Twitter to talk about how he had “f**** up” : On 11 November 2022, FTX […]

Celebrities facing huge losses from BAYC NFTs The hype behind the Bored Ape Yacht Club (BAYC) over the last year resulted in many celebrities investing in the Ethereum-based nonfungible token (NFT) collection with many, such as singer Justin Bieber, paying top dollar. Bieber paid 500 Ether (ETH) for BAYC #3001 on Jan. 29, which at the time was valued at […]

According to a new report published by blockchain analytics firm Nansen on Nov. 17, bankrupt cryptocurrency exchange FTX was allegedly intertwined with that of crypto trading firm Alameda Research from the very beginning. Both entities were created by crypto businessman Sam Bankman-Fried, who is now being considered for extradition by U.S. authorities for his role in the collapse of the […]

US Senator Pat Toomey has blamed FTX’s collapse on the lack of clear regulations. Speaking during the Financial Regulators Hearing on November 15, the legislator took aim at the US Congress, suggesting that if the house had passed regulations on custody for the industry earlier, the FTX implosion could have been avoided. “It certainly appears FTX committed an egregious failure […]

A statement from newly appointed CEO John Ray perhaps shed light on the state of affairs. Ray, who was brought in to resolve the crisis at Enron Energy, remarked that accounting procedures at Bankman-Fried’s entities were concerning. Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information. […]