Five months after the spectacular implosion of FTX, the Bahamas-based exchange’s new legal team has a message for both the U.S. bankruptcy court and creditors alike: “The situation has been stabilized and the dumpster fire is out.”Source
Paxos, whose businesses include crypto brokerage and stablecoin issuance, is exiting the Canadian market, effective June 2, according to a posting on its website.Source
FTX’s sister company Alameda Research had previously acquired Ren to provide long-term funding before shutting down.Source
The blockchain’s likely inability to increase throughput in the short term and increasing competition from alternative networks will constrain its adoption and usage, the report said.Source
The Group of Seven (G-7) advanced nations will prioritize considering how it can better help developing countries introduce their central bank digital currencies (CBDCs).Source
Traders are likely taking profits ahead of Wednesday’s CPI report and Ethereum’s Shapella upgrade.Source
If DeFi activity falls within the scope of the Securities and Futures Ordinance, it will be subject to the same regulatory requirements as traditional financial activity, says SFC official.Source
Binance.US says a variety of factors can lead to de-listing, including regulatory standing in the U.S. and unethical behavior.Source
ALSO: Crypto exchange Bitget’s $100 million fund targeting Web3 comes as Hong Kong eases crypto regulations and a number of East Asian countries have been promoting crypto.Source
Metalpha’s Hong Kong-licensed fund will give investors exposure to Grayscale’s products, but also allow for withdrawals which is something currently missing for U.S. investors.Source