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Coinbase Investigation Reveal Big Crypto Chokepoint by FDIC

Vortex Cryptonews

Ongoing Coinbase investigation showed intense scrutiny by FDIC on banks. The government agency subtly restricted crypto firm’s access to banking services. Most information is redacted in the released documents, but Coinbase is pushing to unseal these details. The cryptocurrency community is back to discussing after (NASDAQ: COIN) obtained hard evidence against United States regulators. The Federal Deposit Insurance Corp. (FDIC) sent to several banks in 2022, requesting that they withhold their services from crypto firms. Coinbase Obtain Redacted Documents From FDIC Coinbase discovered this evidence through research firm History Associates…

Bybit Opens Doors to Mainland Chinese Users amid Regulatory Complexities

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Mainland Chinese users can trade on Bybit via VPNs, though yuan-based transactions remain off-limits. Bybit’s move comes amid rising crypto demand in China and an assessment of manageable regulatory risks. The exchange plans to reapply for a Hong Kong licence in 2025 with a new compliance strategy. Dubai-based cryptocurrency exchange Bybit has confirmed that mainland Chinese users can trade on its platform using virtual private networks (VPNs), though it will not facilitate transactions in the Chinese yuan. This cautious approach aligns with Bybit’s efforts to navigate China’s stringent digital asset…

BlackRock Ethereum ETF Surges Past $3B as Analysts Eye ETH Rally to $15,000

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BlackRock’s ETHA has garnered $1.3 billion in inflows over ten trading days, bringing cumulative inflows to $3.19 billion. Ethereum ETFs have collectively attracted $2.24 billion in inflows since their launch in July. Ether’s price almost touched $4,000 before retreating to $3,900 on Friday. , known for dominating the spot Bitcoin ETF market, is consistently drawing investor interest in the spot Ethereum ETF market as well. Since November 29, the BlackRock iShares Ethereum ETF (ETHA) has recorded net inflows surpassing $1.3 billion in just ten trading days. Cumulatively, the fund has…

Australia Tightens Crypto Rules to Combat Financial Crime

Vortex Cryptonews

Australia proposes stricter crypto rules to curb financial crime. The new framework balances oversight with flexibility for businesses. Australia has introduced a new set of rules that it hopes will help put up a better fight against financial crimes that have long terrorized the crypto sector. The new proposals were floated by the Australian Transaction Reports and Analysis Center (AUSTRAC) as part of wider efforts by the country to update its Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) Act. In line with this ambition, the AML/CTF Act was duly amended and…

Blockchain Milestone: Private Credit Tokenization Hits $650M Monthly

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Blockchain now powers 15% of HELOC transactions, managing $650M monthly, streamlining processes, and reducing inefficiencies. Provenance Blockchain Labs leads tokenized finance, with CEO Moro forecasting shifts in mortgages amid regulatory hurdles. Société Générale’s MiCA-compliant stablecoin and Citi Digital Cash reflect blockchain’s scaling and compliance-focused innovations. The financial sector is witnessing a groundbreaking shift as technology propels the tokenization of private credit to an entirely new level. At the forefront of this movement is Provenance Blockchain Labs, whose innovative approach is setting benchmarks in the industry. Under the leadership of CEO…

Chiliz CEO Expresses Possibility of Acquiring Nike NFT RTFKT, CHZ Surges 9%

Vortex Cryptonews

RTFKT is winding down operations in January 2025. Chiliz might bid on RTFKT’s assets, said CEO Alexandre Dreyfus. CHZ token skyrocketed by more than 9% post Dreyfus’ statement. Alexandre Dreyfus, the chief executive of Chiliz , the digital currency operating the sports entertainment platform Socios, has expressed interest in acquiring Nike’s non-fungible token () platform RTFKT after the NFT project announced that it is winding down operations in January 2025. In a on social media platform X (formerly Twitter), Dreyfus hinted at the possibility of the Chiliz ecosystem bidding on…

Binance Records $2.6B in User Deposits in 2024

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Binance recorded $21.6 billion in user deposits in 2024, solidifying its market leadership. Binance also became the first crypto exchange to surpass $100 trillion in lifetime trading volume. Despite legal challenges, Binance maintained user trust, with most funds staying on its platform. , the world’s largest cryptocurrency exchange by market capitalization, continues to dominate the global crypto space with unmatched growth. In 2024, the company recorded an impressive $21.6 billion in user deposits, a testament to its strong foothold in the industry and the trust it commands among millions of…

CoinGlass Data: $534 Million Wiped Off Crypto Market in Heavy Liquidations Over 24 Hours

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CoinGlass data shows that over $534 million in crypto was liquidated. Of these, XRP, BTC, and ETH were the largest assets affected, with $187.81 in total. Although the market has seen considerable increases since Trump won, there are fears that the US government is planning to sell of its BTC trove. Data from crypto derivatives analysis platform CoinGlass show that the total number of crypto liquidations in the market jumped by a heavy 43% to $534 million in the past 24 hours. This comprised short positions worth $181 million and…

Bitcoin (BTC) Price Faces Midterm Correction Below $100K amid High Demand from Institutional Investors

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Bitcoin price is expected to continue rallying in the remaining few days of 2024 fueled by heightened demand. The overall supply of Bitcoin on CEXes has dropped by over 190K in the past two months due to Trump-induced confidence. After hitting a new all-time high of above $108K earlier in the past 24 hours, Bitcoin price has experienced lower bullish momentum. The flagship coin dropped around 3.4 percent in the past 24 hours to trade about $103,741 on Wednesday, December 18, during the mid-London session. Following the heightened Bitcoin’s volatility,…

Breaking: Trump Names David Sacks as Artificial Intelligence and Cryptocurrency ‘Czar’

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David Sacks, a member of the influential “PayPal Mafia” and founder of Yammer, brings 25 years of Silicon Valley experience to this newly created position overseeing AI and cryptocurrency policy. As AI and Cryptocurrency Czar, Sacks will chair the Presidential Council of Science and Technology Advisors and work to develop a clear regulatory framework for the cryptocurrency industry. The appointment aims to address both technological advancement and regulatory clarity, with a specific focus on safeguarding online free speech and moving away from what Trump describes as “Big Tech bias and…