Bitcoin News and Finance: What You Need to Know

Law enforcement and judicial authorities from Russia and Turkey are joining forces in the fight against cybercrime, including the use of cryptocurrencies for illegal purposes. The collaboration has been agreed upon during a visit by Russia’s Prosecutor General to Ankara. Russia, Turkey Arrange Cooperation on Countering Crime Involving Digital Space and Assets The Prosecutor General of the Russian Federation Igor Krasnov and the Turkish Minister of Justice Bekir Bozdag have signed a new, two-year program for cooperation between their departments, the Tass news agency reported. The high-ranking officials met in the Turkish capital. One of the areas where the sides plan to coordinate efforts is the fight against cybercrime, including cases involving criminal use of cryptocurrencies and other virtual assets, the report revealed. After sealing the agreement, Krasnov highlighted Russian experience in the field: In Russia, the relevant judicial and investigative practice has been develo

U.S. Senator Elizabeth Warren says the implosion of crypto exchange FTX shows that the crypto industry needs “more aggressive enforcement.” She stressed: “I’m going to keep pushing SEC to enforce the law to protect consumers and financial stability.” However, many people pointed out that the Securities and Exchange Commission (SEC) has failed to provide clear crypto regulation, leading to U.S. investors using offshore exchanges like FTX. Senator Elizabeth Warren Wants Tougher Crypto Regulation Following the crisis at cryptocurrency exchange FTX, U.S. Senator Elizabeth Warren (D-MA) stressed that the crypto industry needs more aggressive regulation. She tweeted Wednesday: The collapse of one of the largest crypto platforms shows how much of the industry appears to be smoke and mirrors. We need more aggressive enforcement and I’m going to keep pushing SEC to enforce the law to protect consumers and financial stability. Many people on Twitter disagreed with the senator from Massach

Blockfi, a cryptocurrency lending platform, has announced that it is limiting the operations of its platform and pausing customer withdrawals. The company issued a letter where it states that this decision was caused by the “lack of clarity” on the current state of FTX, which had previously announced an investment of $250 million in the platform to bolster its balance sheet. Blockfi Limits Platform Activity, Pauses Customer Withdrawals Blockfi, one of the leading cryptocurrency lending platforms, announced on Nov. 10 at 8:16 p.m. (ET) it was limiting the activity on its platform and pausing customer withdrawals as a result of the liquidity crunch that FTX has been experiencing. The company cited the “lack of clarity” of the status of the exchange as the main reason behind this resolution. In an announcement , the company explained they found out about the FTX situation on Twitter, feeling “shocked and dismayed” by the development of this issue. Furthermore, the company declared th

On Thursday, at approximately 12:48 p.m. (ET), the embattled exchange FTX revealed that it has created a special facility with Tron. The deal allows holders of specific Tron-based coins to withdraw the tokens to external wallets on a 1:1 ratio. While coin market aggregation sites say tron tapped a high of $0.06 per token on Thursday, tron reached a high of $2.49 per coin against the U.S. dollar on FTX. Tron Exchange Rate Balloons on FTX After Special Facility Established The troubled crypto exchange FTX has been the center of a lot of confusion and speculation since the world’s largest crypto exchange Binance explained it would be dumping all of its ftx (FTT) tokens. Four days later, FTX International has effectively paused withdrawals and the community suspects the exchange is insolvent. However, on Nov. 10, 2022, Tron founder Justin Sun said his team was working around the clock to help alleviate the situation with FTX. Sun also remarked that he is taking steps to help FTX. T

Global investment bank JPMorgan has warned of the crypto market facing weeks of deleveraging stemming from the crisis at Sam Bankman-Fried’s crypto exchange FTX.com and trading platform Alameda Research. The firm’s analysts also predicted that the price of bitcoin could fall to $13,000. JPMorgan on FTX and Bitcoin’s Price JPMorgan Chase’s analysts, led by global market strategist Nikolaos Panigirtzoglou, provided their analysis of the FTX situation and a price prediction for bitcoin in a note Thursday. The analysts explained that fewer players in the crypto space are now able to rescue weaker players, stating: What makes this new phase of crypto deleveraging induced by the apparent collapse of Alameda Research and FTX more problematic is that the number of entities with stronger balance sheets able to rescue those with low capital and high leverage is shrinking. Facing a liquidity crunch, FTX CEO Sam Bankman-Fried reportedly asked several major crypto exchanges, including Coinb

PRESS RELEASE. Fiat-crypto payment provider, Alchemy Pay , is bringing its mainstream-friendly services to Europe’s foremost crypto conference – London Token2049. The Singapore-based company has taken its payment network infrastructure and pivoted to direct-to-customer (D2C) services, with its highly versatile and customisable NFT Checkout and On & Off Ramp Solutions . Europe’s Premier Crypto Event TOKEN2049 is known for its industry-leading events held annually. Founders, CEOs, and projects come together to build relationships and share developments. It showcases sectors like DeFI, Gaming, Social Fi, NFTs, Metaverse, and DAOs, and brings together more than 3,000 attendees, 100+ sponsors, and around 150 speakers. Alchemy Pay On & Off Ramp After years providing business-to-business (B2B) fiat-crypto gateway services, Alchemy Pay’s ramp is now serving users on crypto platforms and dApps across multiple sectors. Alchemy Pay now boasts 300+ fiat payment channels worldwide.

The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating cryptocurrency exchange FTX. The crypto firm is suspected of mishandling customer funds and breaking securities laws. Regulatory probes are among the key reasons why Binance walked away from the acquisition of FTX. U.S. Regulators and DOJ Investigate Crypto Exchange FTX Several U.S. authorities are reportedly probing FTX, the embattled cryptocurrency exchange founded by Sam Bankman-Fried. The U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are looking into the turmoil surrounding FTX.com and its liquidity crisis, Bloomberg reported Thursday, citing a person familiar with the matter. The Justice Department prosecutes criminal violations, such as fraud, while the SEC focuses on securities law violations. Moreover, the SEC and the Commodity Futures Trading Commission (CFTC) are investigating whether FTX.com mishandled customer funds, the

Queen Maxima of the Netherlands has outlined multiple benefits central bank digital currencies (CBDCs) could bring, particularly in the area of financial inclusion. “Governments could use a digital euro to channel financial support to low-income households. This would deepen longer-term inclusion, and act as a gateway to other financial services,” she said. Queen Maxima Envisions a Better Future With CBDCs Queen Maxima of the Netherlands talked about central bank digital currencies (CBDCs) Monday at the “Towards a legislative framework enabling a digital euro for citizens and businesses” conference. She is the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA). The conference was jointly organized by the European Commission and the European Central Bank (ECB). Focusing on financial inclusion and how a digital euro might “benefit underserved groups,” Queen Maxima explained that “Traditional financial services have created roadblocks fo