Author: Investing.com
* This article was originally published here
lundi 31 mars 2025
dimanche 30 mars 2025
samedi 29 mars 2025
vendredi 28 mars 2025
Terraform Labs Opens Investor Claims Portal Nearly Three Years After $45 Billion Crash
Terraform Labs is finally allowing investors to seek reimbursement nearly three years after its dramatic downfall. On March 31, the company will open a claims portal for those who lost at least $100 in the Terra ecosystem's $45 billion collapse in May 2022, according to an announcement on Medium.
The move follows a Delaware court’s approval for Terraform Labs to wind down operations, marking one of the final steps in the company's long-running legal and financial troubles.
How the Claims Process Works
Terraform Labs has set an April 30 deadline for all claims. Investors seeking compensation must submit documentation proving their losses through the portal. The company categorizes evidence into two types: manual and preferred.
Manual evidence includes transaction logs, account statements, and screenshots. However, preferred evidence is considered more reliable, especially for users of major crypto exchanges.
Terraform Labs has cautioned that claims submitted with manual evidence may undergo lengthy review processes and could even be disqualified if preferred evidence is available. The company estimates that it may reimburse investors between $184.5 million and $442.2 million, though the exact figure remains uncertain.
Terraform Labs’ Legal and Financial Turmoil
Terraform Labs has been entangled in legal disputes since its high-profile crash. In June 2024, the company settled with the U.S. Securities and Exchange Commission for $4.47 billion.
Around the same time, Terraform Labs announced it would shut down and transfer control of the Terra blockchain to its community, effectively marking the end of its operations. The company also planned to sell key projects in the Terra ecosystem and burn its token holdings.
After being arrested in Montenegro, he was extradited to the United States, where he faces eight felony charges from the U.S. Justice Department. His court hearing, originally scheduled for earlier this year, has been delayed until April 10 as prosecutors review newly obtained evidence.
The collapse of the Terra ecosystem in 2022 had ripple effects across the cryptocurrency industry. The failure of its algorithmic stablecoin, TerraUSD (UST), and the subsequent crash of the LUNA token led to billions in losses and eroded trust in similar projects.
This article was written by Jared Kirui at www.financemagnates.com.* This article was originally published here
jeudi 27 mars 2025
mercredi 26 mars 2025
mardi 25 mars 2025
Will XRP Go Up Soon? Price Unchanged as Ripple Labs Closes Legal Battle With SEC
After more than four years of legal battles, Ripple Labs is officially closing the chapter on its lawsuit with the U.S. Securities and Exchange Commission (SEC).
In what may be the final update on the case, Ripple Chief Legal Officer Stuart Alderoty announced that the company will drop its cross-appeal and secure a $75 million refund from a prior judgment.
Despite the positive development, XRP’s price has yet to jump in the daily chart. At the time of this publication, the price had little change in the daily chart at $2.45, despite an 8% rise in the weekly chart.
Ripple and SEC Drop Appeals, Finalizing Settlement
Ripple’s legal team confirmed that the firm will withdraw its cross-appeal against the SEC in the U.S. Court of Appeals for the Second Circuit. The August 2024 ruling from the Southern District of New York, which found Ripple liable for $125 million, will stand.
The final crossing of t’s and dotting of i’s – and what should be my last update on SEC v Ripple ever…Last week, the SEC agreed to drop its appeal without conditions. @Ripple has now agreed to drop its cross-appeal. The SEC will keep $50M of the $125M fine (already in an…
— Stuart Alderoty (@s_alderoty) March 25, 2025
However, instead of paying the full amount, the SEC will retain only $50 million in escrow, while Ripple will receive a refund of the remaining balance. The agency will also request the court lift a previously imposed injunction, finalizing the case's resolution.
Alderoty stated that all agreements are subject to final documentation, court approval, and an official vote by the SEC commissioners. The move followed last week’s announcement from Ripple CEO Brad Garlinghouse that the SEC had decided to drop its appeal over the judgment, signaling a mutual resolution between both parties.
The SEC’s lawsuit against Ripple, first filed in December 2020, was one of the longest-running enforcement actions against a major U.S. crypto firm. The agency had accused Ripple of raising $1.3 billion through the sale of its XRP token without registering it as a security.
The legal battle reportedly cost Ripple an estimated $150 million in legal fees, but it also set a major precedent for the crypto industry. Ripple emerged as one of the few crypto firms that challenged the SEC’s enforcement approach—and won on key legal questions.
Political and Regulatory Implications
With the SEC withdrawing its appeal and settling with Ripple, the agency’s broader approach to crypto regulation appears to be shifting. On March 27, the Senate Banking Committee is set to consider the nomination of former SEC Commissioner Paul Atkins as the agency's next chair.
Atkins, known for his more industry-friendly stance, is expected to face questions on his regulatory approach and potential conflicts of interest. As Ripple closes the book on its legal fight with the SEC, the crypto industry is watching closely to see how regulatory policy evolves under new leadership.
This article was written by Jared Kirui at www.financemagnates.com.* This article was originally published here
lundi 24 mars 2025
dimanche 23 mars 2025
samedi 22 mars 2025
vendredi 21 mars 2025
jeudi 20 mars 2025
SEC Clarifies Crypto Mining Rules: Proof-of-Work Doesn’t Violate Securities Law
The US Securities and Exchange Commission (SEC) clarified its stance on proof-of-work (PoW) cryptocurrency mining, ruling that it does not constitute securities trading under US law.
This statement provides long-awaited clarity for crypto miners and the broader blockchain industry, confirming that mining activities do not fall under securities regulations when conducted on public, permissionless networks.
The decision could have significant implications for Bitcoin, Dogecoin, and other PoW-based cryptocurrencies. Proof of Work (PoW) is a consensus mechanism used in cryptocurrency mining to validate transactions and add new blocks to a blockchain.
In a statement released today (Thursday), the SEC’s Division of Corporation Finance addressed concerns surrounding “Protocol Mining.” The regulator determined that such mining does not involve the “offer and sale of securities” under the Securities Act of 1933.
SEC’s View on PoW Mining
“It is the Division’s view that ‘Mining Activities’ do not involve the offer and sale of securities within the meaning of Section 2(a)(1) of the Securities Act of 1933 (the ‘Securities Act’) and Section 3(a)(10) of the Securities Exchange Act of 1934 (the ‘Exchange Act’),” the regulator noted.
“Accordingly, it is the Division’s view that participants in Mining Activities do not need to register transactions with the Commission under the Securities Act or fall within one of the Securities Act’s exemptions from registration in connection with these Mining Activities.”
This means individual miners and mining pools participating in these networks are not subject to securities registration requirements. While the statement did not name specific blockchains, the ruling applies to major PoW networks like Bitcoin and Dogecoin, which rely on mining as their consensus mechanism.
The Commodity Futures Trading Commission (CFTC) has already classified Bitcoin and other PoW assets, such as Litecoin and Dogecoin, as commodities rather than securities.
The SEC’s position ensures that miners can continue their operations without facing regulatory uncertainty. The ruling applies to both solo miners and mining pools, confirming that mining activities remain outside the scope of securities laws.
This distinction is crucial for miners investing significant resources into computational power and energy costs to secure blockchain networks. Mining pools, where multiple miners combine their computational resources to improve their chances of earning rewards, also fall under this exemption.
Implications for Crypto Miners
Pool operators can coordinate mining efforts and distribute rewards without triggering securities laws, provided they operate within the framework outlined by the SEC.
The SEC’s clarification comes amid broader regulatory changes under US President Donald Trump’s administration. Trump has positioned himself as a pro-crypto leader, vowing to make the US a global hub for blockchain and digital assets. His administration has established the Council of Advisers on Digital Assets to develop industry-friendly regulations.
With the SEC’s confirmation that PoW mining does not constitute securities dealing, Bitcoin and other PoW cryptocurrencies may see renewed confidence from investors and miners alike. As the US moves towards clearer crypto regulations, the SEC’s latest stance on mining offers much-needed certainty to the digital asset market.
This article was written by Jared Kirui at www.financemagnates.com.* This article was originally published here
mercredi 19 mars 2025
mardi 18 mars 2025
lundi 17 mars 2025
dimanche 16 mars 2025
vendredi 14 mars 2025
jeudi 13 mars 2025
Crypto.com Partners with Key UAE Tech Firm for Regional Expansion
Crypto.com secured a partnership with Tawasal Al Khaleej, a key player in AI and technology in the UAE. This collaboration will integrate Crypto.com’s platform with Tawasal’s network and the Tawasal Superapp, giving nearly four million users in the region direct access to crypto trading and services.
Strengthening Crypto.com’s Regional Presence
According to the exchange's announcement, Crypto.com’s agreement with Tawasal will roll out in two phases. Initially, Tawasal Al Khaleej will refer Crypto.com’s platform to its local and Middle Eastern partners, enhancing the exchange’s regional foothold.
“Our partnership with Tawasal opens up a world of possibilities for Crypto.com to integrate our industry-leading products and services into their impressive tech projects,” said Eric Anziani, President and COO of Crypto.com.
“This partnership is an outstanding example of how the UAE tech ecosystem is thriving and where the integration of digital assets products can benefit companies and consumers alike, giving simplified access to cryptocurrency, which not only encourages adoption but also progresses the development of our industry.”
We are excited to announce that https://t.co/vCNztATkNg is the exclusive crypto partner for @TawasalSuperApp, strengthening https://t.co/vCNztATkNg’s position in the Middle East region!Read more: https://t.co/1eGt0BY3uw pic.twitter.com/43P1PygLIv
— Crypto.com (@cryptocom) March 13, 2025
The second stage reportedly involves integrating Crypto.com’s services into the Tawasal Superapp, a widely used digital ecosystem in the UAE. This move will expose millions of users to Crypto.com’s products, making cryptocurrency trading more accessible.
A Boost for Crypto Adoption in the UAE
The UAE has positioned itself as a growing hub for digital assets, with regulatory frameworks that encourage blockchain innovation. Crypto.com’s move aligns with this trend, providing easier access to cryptocurrency services in a region that is rapidly embracing fintech advancements.
The Tawasal Superapp integration is expected to accelerate crypto adoption, making it simpler for UAE residents to securely engage with digital assets.
“By combining their services and digital assets with our blockchain technologies, we’re reaffirming our commitment to delivering safe, interactive, and easy-to-use digital experiences to our customers,” Eric Leandri, the CEO of Tawasal, said.
“In return, Tawasal SuperApp is poised to provide Crypto.com with unparalleled visibility and expose their financial products to the local market, further expanding their reach and presence,”
As Crypto.com continues expanding its global footprint, its partnership with Tawasal marks a strategic step in solidifying its presence in the Middle East. With millions of potential users gaining access to its platform, the deal could be a key catalyst for broader crypto adoption in the region.
This article was written by Jared Kirui at www.financemagnates.com.* This article was originally published here
mercredi 12 mars 2025
Binance Secures $2B From Abu Dhabi’s MGX as Institutional Crypto Interest Rises
Abu Dhabi’s investment company MGX invested $2 Billion in crypto exchange Binance in one of the latest major institutional investment deals in the crypto space.
According to the exchange's announcement today (Wednesday), the transaction is structured entirely in stablecoins and marks one of Binance’s major institutional backings as the UAE boosts its involvement in the digital asset space.
“As institutional adoption accelerates, the need for secure, compliant, and scalable blockchain infrastructure and solutions has never been greater. Binance has long been a driving force in cryptocurrency innovation, from exchange technology and tokenization to staking and payments,” said Ahmed Yahia, the Managing Director and CEO of MGX.
We are excited to announce the first-ever institutional investment in Binance by @mgx_ai. This is a significant step in advancing digital asset adoption and reinforcing blockchain’s role in global finance. The $2B investment is also the single largest investment into a crypto… pic.twitter.com/fjZQBqSyC4
— Binance (@binance) March 12, 2025
Minority Stake in Binance
The deal makes MGX a minority shareholder in the world’s largest crypto exchange, although Binance has not disclosed specific details regarding governance rights or the type of stablecoin used.
The investment comes as Binance deepens its connections with the UAE under CEO Richard Teng, who succeeded Changpeng Zhao (CZ) following his legal troubles in the U.S.
Teng previously led Abu Dhabi’s Financial Services Authority and has overseen Binance’s growing presence in the region. The UAE has been positioning itself as a global leader in digital assets, aiming to attract top crypto firms as part of its economic diversification strategy.
“This investment by MGX is a significant milestone for the crypto industry and for Binance. Together, we are shaping the future of digital finance. Our goal is to build a more inclusive and sustainable ecosystem, with a strong focus on compliance, security, and user protection,” Teng commented.
MGX, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser, has also invested in AI-focused companies like OpenAI and Elon Musk’s Xai, Reuters reported.
Institutional Crypto Investment
The deal comes amid a resurgence in the crypto market, with Bitcoin reaching all-time highs after recent political developments in the U.S. Binance, despite facing regulatory scrutiny, continues to seek a global headquarters to enhance transparency. In the past year, the exchange settled U.S. legal cases with a $4.3 billion fine and is under investigation in France for alleged financial misconduct.
The MGX investment represents a milestone for Binance, signaling a shift toward institutional backing in the crypto industry. With regulatory challenges still looming, the partnership with an Abu Dhabi-backed entity could offer Binance a more stable footing in the evolving digital finance landscape.
As Binance navigates regulatory pressures and market shifts, the $2 billion investment underscores both its resilience and the UAE’s deepening role in shaping the future of crypto.
This article was written by Jared Kirui at www.financemagnates.com.* This article was originally published here
mardi 11 mars 2025
lundi 10 mars 2025
dimanche 9 mars 2025
samedi 8 mars 2025
vendredi 7 mars 2025
jeudi 6 mars 2025
mercredi 5 mars 2025
mardi 4 mars 2025
Japan Opens Doors to Foreign Stablecoins: USDC to Begin Trading on March 12
Japan is taking a significant step forward in stablecoin adoption, with SBI VC Trade securing regulatory approval to list Circle's USDC. This marks the first time a foreign dollar-pegged stablecoin will be legally distributed in the country. Under Japan's new payments framework, the exchange will roll out USDC trading, signaling a shift in the nation's approach to digital assets.
SBI VC Trade Gains Regulatory Green Light
SBI VC Trade, a subsidiary of financial conglomerate SBI Holdings, has become the first exchange in Japan to register as an Electronic Payments Provider, the company mentioned on X.
This status, granted under the Financial Services Agency's (FSA) revised regulations, allows the company to handle stablecoin transactions. The approval sets the stage for USDC's listing, making it the only global dollar stablecoin authorized for use in Japan.
Circle CEO Jeremy Allaire confirmed the news, stating, “USDC becomes the first and only global dollar stablecoin to become approved for use in Japan.” He congratulated SBI VC Trade for being the first exchange permitted to list and distribute the stablecoin, hinting at further expansion in the country.
🇯🇵 Big news in Japan!@sbivc_official is now a registered Electronic Payments Provider under JFSA’s new framework and they plan to be the first to list USDC in the market!A major step forward for trusted, fully reserved digital dollars in a regulated market. Excited to see… https://t.co/PyL1mpKKrK
— Circle (@circle) March 4, 2025
Following its registration, SBI VC Trade plans to initiate USDC transactions with selected users on March 12. The platform will conduct a trading trial before expanding access to a broader audience. The company aims to be at the forefront of Japan's evolving cryptocurrency market by integrating stablecoin transactions into its financial offerings.
SBI VC Trade Expands Crypto Offerings
Japan's stance on stablecoins has undergone a major transformation since 2023, when regulators lifted a long-standing ban on foreign stablecoins. The FSA recently approved a policy report recommending the relaxation of stablecoin-related regulations.
SBI Holdings has been an active player in the crypto sector, forging partnerships with major U.S. companies like Ripple. The company's exchange arm, SBI VC Trade, currently supports various cryptocurrencies, including Bitcoin.
USDC's regulatory approval marks a pivotal moment for Japan's crypto market. As SBI VC Trade prepares for the stablecoin's official rollout, the country is set to become a more favorable environment for digital asset innovation and cross-border transactions.
This article was written by Jared Kirui at www.financemagnates.com.* This article was originally published here
lundi 3 mars 2025
dimanche 2 mars 2025
Crypto prices jump as Trump names tokens included in strategic reserve
President’s comments on digital assets such as Solana lift market after recent shake-out
* This article was originally published here
* This article was originally published here
samedi 1 mars 2025
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