TL;DR Breakdown Block Earner, an Australian fintech company, is moving forward with its plans to launch a cryptocurrency-backed loan product despite facing legal action from the country’s financial regulator over alleged unlicensed financial product offerings.  The company has taken a cautious approach in designing the new loan products to align them with existing licensing models, aiming to ensure compliance with Australian financial regulations. Description Block Earner, an Australian fintech company, is moving forward with its plans to launch a cryptocurrency-backed loan product despite facing legal action from the country’s financial regulator over alleged unlicensed financial product offerings. The forthcoming crypto loan product will enable Australian crypto investors to use their cryptocurrency holdings as collateral to secure cash loans. Notably, … Read more Block Earner, an Australian fintech company, is moving forward with its plans to launch a cryptocurrency-backed loan product despite facing legal action from the country’s financial regulator over alleged unlicensed financial product offerings. The forthcoming crypto loan product will enable Australian crypto investors to use their cryptocurrency holdings as collateral to secure cash loans. Notably, Coinbase once offered…

TL;DR Breakdown China’s economic woes trigger global worries about the stability of BRICS and how the crash of the Chinese market stands to affect de-dollarization. China’s President, Xi Jinping, informed the BRICS group that the country’s economy was resilient and its commitment to the future remained unchanged. China continues to suffer the effects of COVID-19 more greatly than any other nation in the world. Description As we navigate the complexities of the global economy in the 21st century, few international groups capture as much attention as BRICS—a coalition of emerging economies comprising Brazil, Russia, India, China, and South Africa. Historically considered a symbol of shifting power dynamics, BRICS nations have sought to redefine their role in global governance, finance, and … Read more As we navigate the complexities of the global economy in the 21st century, few international groups capture as much attention as BRICS—a coalition of emerging economies comprising Brazil, Russia, India, China, and South Africa. Historically considered a symbol of shifting power dynamics, BRICS nations have sought to redefine their role in global governance, finance, and development.  However,…

TL;DR Breakdown A U.S. District Court has ordered South African company Mirror Trading International (MTI) to pay $1.7 billion in restitution for operating a fraudulent bitcoin commodity pool. MTI had falsely promised investors significant trading gains through a non-existent proprietary software “bot,” leading to the misappropriation of a majority of the pooled bitcoin. Description A U.S. District Court has mandated that South African firm Mirror Trading International Proprietary Limited (MTI) pay $1.7 billion in restitution for operating a fraudulent bitcoin commodity pool.  The ruling, announced by the U.S. Commodity Futures Trading Commission (CFTC) on September 7,  brings closure to an enforcement case against MTI and its CEO, Cornelius Johannes … Read more A U.S. District Court has mandated that South African firm Mirror Trading International Proprietary Limited (MTI) pay $1.7 billion in restitution for operating a fraudulent bitcoin commodity pool.  The ruling, announced by the U.S. Commodity Futures Trading Commission (CFTC) on September 7,  brings closure to an enforcement case against MTI and its CEO, Cornelius Johannes Steynberg. MTI had lured investors with the promise of significant trading gains through…

TL;DR Breakdown Despite facing challenges like negative news, lawsuits, and employee turnovers, Binance’s CEO CZ assures the company has no liquidity issues and customer funds are secure. Binance celebrates recent industry successes, including the launch of new fiat channels, new hires, and legal victories against regulatory bodies. CZ remains optimistic about Binance’s role in the evolving cryptocurrency landscape, highlighting its adaptability and commitment to its mission and users. Description In an era of volatility and unpredictability, Binance, one of the world’s premier cryptocurrency exchanges, finds itself at the epicentre of numerous rumours and speculations. Amidst this backdrop of uncertainty, Binance‘s co-founder and CEO, Changpeng “CZ” Zhao, has emerged as a beacon of clarity, addressing concerns and setting the record straight. As whispers of bank … Read more In an era of volatility and unpredictability, Binance, one of the world’s premier cryptocurrency exchanges, finds itself at the epicentre of numerous rumours and speculations. Amidst this backdrop of uncertainty, Binance‘s co-founder and CEO, Changpeng “CZ” Zhao, has emerged as a beacon of clarity, addressing concerns and setting the record straight. As whispers…

TL;DR Breakdown Caroline D. Pham introduces a time-bound CFTC pilot program to foster the growth and regulation of digital assets and tokens in the U.S. The proposal faces potential challenges due to political dynamics within the CFTC and differing views on crypto regulation. Description In a recent development, CFTC Commissioner Caroline D. Pham has introduced an idea that could reshape the way cryptocurrency is regulated in the U.S. This proposal, termed as a time-limited crypto pilot program, aims to foster the growth and regulation of digital assets and tokens. While this is Pham’s viewpoint and doesn’t represent the stance … Read more In a recent development, CFTC Commissioner Caroline D. Pham has introduced an idea that could reshape the way cryptocurrency is regulated in the U.S. This proposal, termed as a time-limited crypto pilot program, aims to foster the growth and regulation of digital assets and tokens. While this is Pham’s viewpoint and doesn’t represent the stance of the CFTC, it has garnered significant attention in the crypto community. Contents hide 1 A proponent of crypto regulation 2 The political…

TL;DR Breakdown Casa Wallet has introduced a new Ethereum transaction relay service, known as the ETH pay wallet, to enhance transactional privacy for its users. The ETH pay wallet serves as a single-signature alternative that acts as a relay for transactions, effectively severing the on-chain link to Casa, thereby offering an added layer of privacy. This new feature comes after the launch of Casa’s multi-signature Ethereum self-custody vault in June 2023 and aims to address user concerns about the exposure of their Ethereum addresses. Description Casa, a leading cryptocurrency self-custody platform, has introduced a new feature aimed at bolstering privacy for its Ethereum (ETH) users. The company, which launched a multi-signature Ethereum self-custody vault in June 2023, has now added an Ethereum pay wallet as a relay service. This development comes as a significant upgrade to Casa’s initial Bitcoin (BTC) … Read more Casa, a leading cryptocurrency self-custody platform, has introduced a new feature aimed at bolstering privacy for its Ethereum (ETH) users. The company, which launched a multi-signature Ethereum self-custody vault in June 2023, has now added an Ethereum…

TL;DR Breakdown Coinbase’s vice presidents for international business and international policy, Nana Murugesan and Tom Duff Gordon, identified the European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia as their “near-term priority markets.” Murugesan and Duff Gordon noted that many parts of the world are making significant progress in creating crypto-friendly regulatory frameworks, except for the United States. The exchange also aims to engage with the Group of Twenty (G20) to advocate for the development of global cryptocurrency standards.  Description Coinbase, a leading cryptocurrency exchange, has outlined its strategic focus on several countries outside the United States, citing their more transparent and clearer crypto regulations. In a blog post published on September 6, Coinbase’s vice presidents for international business and international policy, Nana Murugesan and Tom Duff Gordon, identified the European Union, the United Kingdom, … Read more Coinbase, a leading cryptocurrency exchange, has outlined its strategic focus on several countries outside the United States, citing their more transparent and clearer crypto regulations. In a blog post published on September 6, Coinbase’s vice presidents for international business and international…

TL;DR Breakdown Linus Financial has reached a settlement with the U.S. Securities and Exchange Commission (SEC) following allegations of failing to register its retail crypto lending product. The crypto firm failed to register the offer and sale of its interest-bearing accounts, which allowed U.S. investors to exchange fiat currency for Linus Financial’s promise to pay interest.  Description Nashville-based crypto services firm, Linus Financial, has reached a settlement with the U.S. Securities and Exchange Commission (SEC) following allegations of failing to register its retail crypto lending product. The SEC announced this settlement, which centers on Linus’s crypto lending offering known as “Linus Interest Accounts.” The issue at hand arose from Linus Financial’s failure … Read more Nashville-based crypto services firm, Linus Financial, has reached a settlement with the U.S. Securities and Exchange Commission (SEC) following allegations of failing to register its retail crypto lending product. The SEC announced this settlement, which centers on Linus’s crypto lending offering known as “Linus Interest Accounts.” The issue at hand arose from Linus Financial’s failure to register the offer and sale of its interest-bearing accounts,…

TL;DR Breakdown LBRY has filed a notice of appeal against a federal judge’s ruling in July that favored the U.S. Securities and Exchange Commission (SEC) final judgment that was entered on July 11, 2023. The SEC had originally sought a much larger penalty of $22 million but reduced it after recognizing that the now-defunct firm couldn’t afford such an amount. Description LBRY, the blockchain-based file-sharing and payment network, appears to be reversing its earlier decision to wind down its operations. In a significant development, LBRY has filed a notice of appeal against a federal judge’s ruling in July that favored the U.S. Securities and Exchange Commission (SEC). On September 7, LBRY submitted a notice of appeal … Read more LBRY, the blockchain-based file-sharing and payment network, appears to be reversing its earlier decision to wind down its operations. In a significant development, LBRY has filed a notice of appeal against a federal judge’s ruling in July that favored the U.S. Securities and Exchange Commission (SEC). On September 7, LBRY submitted a notice of appeal to the United States Court of…

TL;DR Breakdown Kaiko, under analyst Dessislava Ianeva, reports that AI tokens such as FET, GRT, RNDR, OCEAN, and ROSE fell from $170M earlier in 2023 to just $60M in August. The reason for the decline among AI tokens is due to a shift in global risk appetite, as seen with Sam Altman’s Worldcoin. Weekly trade volumes for AI tokens jumped to $870 million in August after plunging to yearly lows of $570 million in late July. Description Crypto AI tokens are digital assets that use blockchain and artificial intelligence technology. The tokens generated hype in 2022 after the launch of Image generators and the AI Chatbox, ChatGPT, which attracted a debate.  The integration of both technologies seemed promising; however, according to Kaiko, despite the billions channeled to AI startups, the interest in … Read more Crypto AI tokens are digital assets that use blockchain and artificial intelligence technology. The tokens generated hype in 2022 after the launch of Image generators and the AI Chatbox, ChatGPT, which attracted a debate.  The integration of both technologies seemed promising; however, according to Kaiko,…