Ever since the Titanic was found, the world has held few mysteries. The whereabouts of the 239 souls tragically lost aboard MH370 is one. That MAFS is now in a 10th season and rating well is a personal one. Another, since 2008, is who is Satoshi Nakamoto, the author of a white paper on the… Read more »
The US Commodity Futures Trading Commission (CFTC) has launched a suit against the world’s biggest cryptocurrency exchange Binance, claiming the company was deliberately skirting local regulation and knowingly facilitated the illicit flow of money. In a complaint against Binance, its founder Changpeng Zhao, and chief compliance officer Samuel Lim, the CFTC alleged the Binance team… Read more »
Sydney cryptocurrency pioneer Independent Reserve has acquired Sydney Swans sponsor Bitcoin.com.au in a deal worth $3 million. The M&A deal comes as crypto sees rising prices and renewed interest amid US bank collapses and the USB takeover of Credit Suisse. Since the collapse of Silicon Valley Bank, amid ongoing concerns about the stability of the… Read more »
The Reserve Bank of Australia (RBA) remains sceptical about the need to introduce a fully digital dollar as it looks to begin an eAUD trial early next year. In a speech to a banking conference last week, Assistant RBA Governor Brad Jones said it remained unclear exactly what purpose a central bank digital currency (CBDC)… Read more »
Police in the Bahamas have arrested the founder of collapsed cryptocurrency exchange FTX after criminal charges were filed in the US. Sam Bankman-Fried, who goes by the name SBF, was head of the company that was valued at $47 billion before speculation FTX was running insolvent led to a liquidity crunch that ultimately brought down the exchange… Read more »
When cryptocurrency exchange FTX Group collapsed in the Bahamas last month, its local subsidiaries FTX Australia Pty Ltd and FTX Express Pty Ltd fell over too. The Australian companies were placed into administration on November 11 and within days the Australian Securities and Investments Commission (ASIC) had suspended the Australian financial service licence FTX Australia… Read more »
Anthony* (a friend) called a few weeks ago, deeply worried. A deputy principal of a high school in Queensland, over the past year he spent hundreds of thousands of dollars buying cryptocurrencies, borrowing money using his home as equity. But now all his assets, valued at A$600,000, were stuck in an account he couldn’t access.… Read more »
Brisbane fintech Digital Surge is the latest cryptocurrency exchange to be placed in voluntary administration in the wake of the collapse of US exchange. Scott Langdon, John Mouawad and David Johnstone from KordaMentha Restructuring were appointed voluntary administrators on Thursday, after the fintech’s directors made the decision to put the business in VA on Wednesday.… Read more »
Queensland cryptocurrency exchange Swyftx has shed another 90 jobs in the wake of the FTX implosion. The business, laid off around 36% of its remaining workforce of 250 people, having cut 74 roles less than four months ago, when the headcount sat at 320. The business announced a merger with investment platform Superhero in June… Read more »
Blackbird-backed local crypto exchange CoinJar has cut around 20% of its staff amid the ongoing fallout of US rival FTX. Around 10 staff were let go at the Melbourne-based fintech, which pioneered the Australian exchange sector a decade ago. “Like many companies we’ve had to right-size parts of the business in response to poor market… Read more »
Comparison site Finder has killed off its cryptocurrency product Earn, which offered customers a flat rate return for investing in stablecoins, arguing it “no longer” served customers amid rising interest rates. In a blog post strangely titled “Finder Earn is being sunset” just two days before the shutdown, the company said “As interest rates have… Read more »
The Australian arms of crumbling cryptocurrency empire FTX have been placed in voluntary administration. Scott Langdon, John Mouawad and Rahul Goyal of KordaMentha Restructuring took over as administrators of the Sydney-based cryptocurrency businesses FTX Australia Pty Ltd and subsidiary FTX Express Pty Ltd on Friday following a board meeting earlier today that decided to place… Read more »
Corporate regulator the Australian Securities and Investments Commission (ASIC) has sin-binned Sydney firm Holon Global Investments from offering three of its cryptocurrency funds to retail investors for three weeks due to concerns that they’re not suitable for the retail market, with the product disclosure statements pointing out that the funds could end up worthless. The… Read more »
The architect of Australia’s first response to regulating digital assets in Australia has lost patience with the new government, issuing his own draft legislation in a bid to push Labor to act on the issue. Liberal senator Andrew Bragg coauthored a landmark Senate Select Committee report into digital asset regulation last year, investigating issues such… Read more »
Amid the continuous noise about cryptocurrencies, it’s often hard to pick out what really matters. However this month, if all goes to plan, the energy-hungry digital sector will undergo its biggest shake-up in years. Ethereum, the world’s second largest cryptocurrency, is tomorrow expected to start a technology changeover which, once complete, should cause its carbon… Read more »
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