SEC Cost Crypto Firms $426M under Gensler
The BA claims Gensler’s SEC “regulation by enforcement” approach has hurt innovation, costing the U.S. jobs and investment in technology. Since Gary Gensler took over as chair of the United States Securities and Exchange Commission, the Blockchain Association, which is an advocate group for blockchain technology and cryptocurrencies, said that the SEC has caused corporations […]
Fairdesk Crypto Exchange Announces Permanent Closure
The 2021-founded cryptocurrency exchange Fairdesk in Singapore will shut down indefinitely on November 30. According to a business release, the decision was made regarding changing market conditions and regulatory developments. With a global customer base, Fairdesk established a reputation for providing futures trading, spot trading, and other cryptocurrency services. The company’s management has shut down […]
AI Deepfake Tool Reaches New Level in Bypassing Crypto Exchange KYC
According to Cato Networks, a new AI-powered deepfake tool called ProKYC allows criminals to bypass KYC measures on crypto exchanges, representing a significant advancement in fraud tactics. Cybersecurity firm Cato Networks has identified a “new level of sophistication” in crypto fraud, as evidenced by the development of ProKYC. This new AI-powered deepfake tool enables malicious […]
Ethena Labs Community to Vote on Proposal to Launch USDe Crypto Exchange
The Ethena Labs community will shortly vote on a proposal to incorporate Ethereal, a decentralized exchange built on the Ethena Network, into its reserve management system. This integration aims to increase the “utility and demand” of USDe, a synthetic stablecoin developed by Ethena Labs. “Fells0x” submitted the proposal on Sept. 30, which requests authorization for […]
Bybit Targets Shariah-Compliant Crypto Clients
Bybit announces a Shariah-compliant crypto account aimed at Muslim investors looking for investment opportunities that adhere to Islamic financial rules. Crypto exchange Bybit has introduced new products that align with Shariah, or Islamic law, specifically designed to cater to Muslim investors. On September 24, Bybit co-founder and CEO Ben Zhou announced on X the launch of […]