Hong Kong fund intends to raise $100M to invest in Crypto
The new Hong Kong-based equity fund will support Web3 startups and concentrate on the local market. Local investors are forming a $100 million fund to finance the digital business as Hong Kong is once again opening up to the crypto market. ProDigital Future, a new fund, will target early-stage Web3 businesses focused on the local […]
Binance freezes over $2M in alleged insider trading scandal
Crypto exchange Binance has recently frozen over $2 million in assets linked to an alleged insider trading scandal. The biggest cryptocurrency exchange in the world by trading volume, Binance, has recently come under fire from all sides. Another report on allegedly insider trading practices that use the information with token listings and make money has […]
FDIC to sell Signature Bank’s crypto payment network
The Signet payments network owned by Signature Bank is something the FDIC want to sell, according to a March 28 Bloomberg story. The Federal Deposit Insurance Corp (FDIC) is seeking to sell Signet, the real-time payments network for crypto companies operated by the now failed Signature Bank. A spokesperson for the regulator confirmed the plan […]
Crypto Exchange Beaxy Shuts Down Amid SEC Charges
The cryptocurrency platform Beaxy and its management have been charged by the Securities and Exchange Commission (SEC). The banking watchdog’s continuous, ruthless onslaught on crypto companies doing business in the United States continues with this latest move. The SEC also filed charges against Chicago-based Beaxy Digital Ltd. for allegedly generating $8 million through the sale […]
Paxful to reimburse lost Celsius funds to Earn users
Due to the collapse of Celsius Network, peer-to-peer marketplace Paxful will reimburse customers of its Earn program. According to a tweet from firm CEO Ray Youssef on March 29, cryptocurrency marketplace Paxful will reimburse customers of its Earn program who were impacted by the Celsius Network failure in 2022. Youssef said, “I’ve personally taken action […]