Legal
Swiss Central Bank Completes Wholesale CBDC Trial
- The second phase of Project Helvetia was conducted in partnership with the Bank of International Settlements, the Swiss National Bank, and the SIX Digital Exchange.
- Completed in the fourth quarter of 2021, the tests saw a wholesale CBDC being integrated into the systems of Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg, and UBS banks.
- The second phase of Project Helvetia was conducted in partnership with the Bank of International Settlements, the Swiss National Bank, and the SIX Digital Exchange.
- Completed in the fourth quarter of 2021, the tests saw a wholesale CBDC being integrated into the systems of Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg, and UBS banks.
TaxBit Network to Offer Free Crypto Tax Forms
- Users of participating platforms will be able to use the TaxBit ecosystem to generate their transaction history data for free when filing taxes.
- More than 500 platforms have decided to participate in the TaxBit Network, amongst which are PayPal, Binance.US, Coinbase, FTX.US, Gemini, and more.
Coinsuper Reportedly Stops Customer Withdrawals
- Dozens of customers have been unable to withdraw their money and tokens from the exchange since late November, messages from telegram suggest.
- At least seven users have filed reports with the police, which is currently investigating one case connected to the exchange.
Grim Finance Suffers Reentrancy Attack, Loses $30M
- The hacker made five deposits into the vault while the first was being processed by exploiting the protocol's vault contract.
- The project quickly paused its vaults, but not before the attacker stole around $30 million worth of digital assets, causing Grim Finance's TVL to fall to $4 million.
Binance Withdraws Crypto License Application in Singapore
- The exchange's CEO explained on Twitter that the move was connected to Binance's recent acquisition of Singapore-regulated securities exchange HGX.
- The exchange is also winding down its services in the area, with Singapore users no longer having the ability to deposit fiat or crypto to the platform.
Gemini and Bancolombia to Enable Crypto Trading in Colombia
- Starting 14 December, Bancolombia clients will be able to trade four crypto assets, namely BTC, ETH, LTC, and BCH.
- The partnership is part of a year-long pilot program run by Colombia’s financial regulator SFC to test banking services for crypto platforms.
Crypto.com to Acquire Two U.S. Exchanges
- The popular crypto exchange has offered IG Group $216 million for its stakes in U.S.-based Nadex and Small Exchange.
- The acquisition, expected to be complete in the first half of 2022, will enable Crypto.com to offer its U.S. customers access to derivatives and futures products.
Galaxy Digital to Raise $500M Through Convertible Debt
- The company will issue exchangeable senior notes, with the debt bearing a 3% interest rate, which will reach maturity in 2026.
- The deal, expected to close this December, also allows the bond holders to exchange the debt for company stock.
eToro to Delist ADA and TRX for U.S. Customers
- On 26 December U.S. users will loose the ability to open new positions in ADA and TRX, and by 31 December will no longer be able to stake the tokens.
- eToro will limit the selling of the assets sometime in Q1 2022, after it has made its wallet compatible with ADA and TRX.
Huobi Global to Restrict Trading Services in Singapore
- In order to comply with local regulators, Huobi revealed it will be shutting down its operations in Singapore by 31 March, 2022.
- Users in the area have been advised to close down their positions, and withdraw their digital assets before that date.
Huobi Global to Migrate Spot Trading Services to Gibraltar
- The new GFSC license enables Huobi to use DLT for "storing or transmitting value belonging to others" to or from Gibraltar.
- Huobi hopes it will be able to attract both retail and institutional clients who want to trade through a regulated platform.
AcquisitionsSiam Commercial Bank in Suandok Park, Maharaj Hospital, Chiang Mai, Thailand, 28 April, 2018. nitinut380 / Shutterstock
Thailand’s Oldest Bank Acquires Controlling Stake in Bitkub Exchange
- Siam Commercial Bank has acquired 51% of the total shares in Bitkub for the price of 17.85 billion baht, or around $536 million.
- The deal is still pending regulatory approval, but the exchange expects to complete the transaction by the first quarter of 2022.
Digital Currency Group Valued at $10B After $700M Secondary Sale
- The secondary investment round was led by SoftBank's Vision Fund2 and Latin America Fund, and saw participation from GIC Capital, Ribbit Capital and CapitalG.
- The goal of the round was not to raise capital for DCG, but provide early investors with the "opportunity" to exit and take profits.
Scammers Steal $65,000 As YouTube Search Results Recommend Fake Apple Event Video
- The scammer impersonated Apple, taking advantage of the highly anticipated October 18 event by the company.
- No BTC was stolen, but more than 17 Ethereum were swindled out of their three owners.