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Backpack, a renowned blockchain company and the team behind the popular MadLads non-fungible token collections, has acquired the European arm of FTX to offer regulated crypto derivatives across Europe. FTX was a leading cryptocurrency exchange that went bankrupt in November 2022 amid allegations that its owners had embezzled and misused customer funds. Backpack Acquires FTX EU In a January 07 press release, the MadLads NFT creator Backpack confirmed acquiring the European arm of FTX. Under the new acquisition, the Backpack’s FTX EU arm will offer a full suite of crypto derivatives throughout the European Union region, including perpetual futures. The re-activation of the operation license is underway, with plans for Backpack EU to go live in the Q1 of 2025. BackPack announces it is buying the European arm of FTX, with plans to offer regulated crypto derivs across Europe. MadLads on the move, up 20% +in the past 24 hours. pic.twitter.com/1aL5Ftnfyf — Stats (@punk9059) J...

Donald Trump’s team is considering a new White House crypto role. The role would be the first dedicated cryptocurrency policy position in the White House. The plan aims to improve cryptocurrency regulation and create a strong blockchain policy. Under Trump’s crypto stance, this could make the U.S. the world leader in digital assets. Source: Reuters Also Read: 3 Commodities To Invest in 2025 For Top Returns How Trump’s Crypto Role Could Shape Blockchain Policy & Regulation in the U.S. Source: CryptoBriefing Streamlining Federal Oversight Source: Watcher Guru The White House’s crypto role would be to manage cryptocurrency policies between federal agencies like the SEC and CFTC. A team would work in this position. They would help Congress, regulators, and the White House work together. This approach to blockchain policy would make regulations clearer for everyone. Industry Leaders Rally Behind Initiative Crypto leaders have met with Trump at Mar-a-Lago to discuss th...

Senator Elizabeth Warren has agreed to debate Republican candidate John Deaton before the November election, while sharply criticizing the “crypto billionaires” backing his campaign. “A small handful of crypto billionaires and corporate special interests poured more than $2 million into a super PAC to handpick their preferred Republican candidate,” said Warren’s campaign manager, Janice Rottenberg. “Massachusetts voters have a clear choice that could determine control of the Senate.” Deaton Says Elizabeth Warren Only Agreeing To 2 Debates A “Disservice” To Voters Deaton, a pro-crypto lawyer, has called for five single-issue debates, highlighting the nation’s multiple crises. Despite this, Warren has agreed to only two debates, a decision Deaton argues is a “disservice to voters.” The specific topics for the debates have not yet been finalized, leaving the role of crypto policy in the discussions uncertain. Poten...

The UK government expects the country’s stablecoin and staking legislation within six months. Economic Secretary to His Majesty’s Treasury (HMT), Bim Afolami, said this during an event hosted by Coinbase in London. The UK government expects new regulations on stablecoins and staking services to roll out in the country within the next six months, Economic Secretary to His Majesty’s Treasury (HMT), Bim Afolami, has noted. According to a Bloomberg report , the government is focused on having the legislation in place this year as part of the overall push for regulatory clarity for the crypto sector. “We’re very clear that we want to get these things done as soon as possible. And I think over the next six months, those things are doable ,” Afolami said during an event hosted by Coinbase in London. Afolami’s comments come as observers point to the government’s plans to have the crypto regulation regime in place befor...

In written remarks submitted ahead of a hearing before the US Senate Banking Committee, SEC Chair Gary Gensler has once again reiterated his stance on crypto. The US Securities and Exchange Commission (SEC) Chairman, Gary Gensler, doesn’t seem to change his mind on crypto despite the recent challenges the regulator faced in court. In a written testimony submitted ahead of a hearing before the US Senate Banking Committee, the SEC boss has once again doubled down on his position against the industry . He said that “most crypto tokens are subject to the securities laws” and, therefore, “most crypto intermediaries have to comply with securities laws as well.” “There is nothing about the crypto asset securities markets that suggests that investors and issuers are less deserving of the protections of our securities laws.” SEC Chair Gary Gensler Gensler also said the industry faces many problems mainly due to “wide-ranging non-complianc...

Emmer intends to introduce an appropriations amendment that will limit the SEC's utilization of funds for digital asset enforcement until comprehensive rules and regulations are put in place. Tom Emmer, the Majority Whip of the U.S. House of Representatives, who has previously expressed concerns about the Securities Exchange Commission's (SEC) actions in the crypto currency industry, on Friday, Sep. 8, introduced a significant amendment that once more drew attention to the SEC's actions. In his statement, Tom Emmer criticizes Gary Gensler, alleging that the SEC chair has overstepped his authority, which is negatively affecting the American people. Emmer urges Congress to utilize their available methods and proper procedures to thwart any potential misuse of taxpayer funds by Gary Gensler and the SEC. In the past, Rep. Tom Emmer has jointly sponsored several bills aiming to enhance regulatory transparency in the United States. Emmer recently used Twitter to unveil his late...

The Chicago Board Options Exchange (CBOE) has filed two applications seeking the SEC’s approval for the ARK 21Shares Ethereum ETF and VanEck. The filing of the 19b-4 form is dated Sept. 6. A 19b-4 form is usually presented by self-regulatory organizations, such as the CBOE, asking for a specific requirement from the SEC. The SEC will have 240 days to decide if the Ethereum (ETH) ETF will be approved or denied. You might also like: Grayscale urges SEC to approve its spot Bitcoin ETF filing What is an ETF? Exchange-traded funds (ETFs) have recently become a simplified and convenient investment option for many assets, including cryptocurrencies like Bitcoin (BTC). ETFs allow investors to gain exposure to the performance of an asset or a combination of assets without actually owning them. Bitcoin ETF tracks the price of Bitcoin, allowing investors to invest in the world’s major crypto without the need to purchase and manage the cryptocurrency themselves. This eli...

While history shows September isn't usually great for Bitcoin, analysts urged investors to look to mid-October. Bitcoin investors may be in for a rollercoaster ride. While history shows September is typically a bumpy month for Bitcoin — two ETF analysts have suggested investors turn their gaze to mid-October as the next "major days to watch ." According to historical data, Bitcoin’s monthly returns have closed in the red at the end of September nine times over the course of the last 13 years. Popular crypto analyst Will Clemente informed his 689,000 X followers that September has had the “least number of positive-returning months” and is on a six-year negative-returning streak. Bitcoin's returns broken down by months September has had the least number of positive-returning months at just two and is on a 6-year negative-returning streak. pic.twitter.com/4VqZkMubm3 — Will Clemente (@WClementeIII) August 31, 2023 There are a number of other factors that point to a bu...

Nathaniel Chastain will reportedly have until Nov. 2 to surrender himself following his conviction for wire fraud and money laundering related to insider trading on OpenSea. A federal judge has sentenced former nonfungible token (NFT) marketplace OpenSea product manager Nathaniel Chastain to 3 months in prison for wire fraud and money laundering related to insider trading on the platform. In an Aug. 22 announcement from the United States Department of Justice, U.S. Attorney Damian Williams said Chastain had been sentenced to 3 months in prison, 3 months of home confinement, and 3 years of supervised release in addition to being ordered to pay a $50,000 fine and forfeit ill-gotten Ether (ETH) from the NFT trades. Inner City Press reported he would be required to surrender himself on Nov. 2, with Chastain's lawyers planning to appeal the decision and request bail. “Respect for the law and general deterrence militate for punishment,” reportedly said the judge at sentencing. “But [Cha...

The world's leading crypto exchange by trading volume has reportedly applied to register in Taiwan under the new AML compliance. The world's leading crypto exchange by trading volume, Binance, has reportedly applied to get registered under the money laundering control act introduced by the Financial Supervisory Commission (FSC) of Taiwan. FSC reportedly informed dozens of domestic crypto service providers that Binance is applying to get registered for anti-money laundering (AML) compliance , according to a report published in local media. The report cited Chen Peiyun, the co-founder of Taiwan’s currency exchange BitShine,  as the source of the information who revealed that the FSC named Binance as one of the exchange prospects that is planning to enter Taiwanese crypto market via AML compliance . Binance has not yet responded to Cointelegraph's request for comment. While the cryptocurrency industry is largely unregulated in Taiwan, the FSC introduced AML guidelines in July...

PayPal’s stablecoin, PYUSD, made its debut on August 7. Explore PYUSD, what it means for crypto, and how the community reacted. The financial landscape, long accustomed to gradual evolution, witnessed a seismic shift on August 7 when PayPal, a vanguard of financial technology, introduced PYUSD, its US dollar-based stablecoin.  Today, we’re unveiling a new stable coin, PayPal USD (PYUSD). It’s designed for payments and is backed by highly liquid and secure assets. Starting today and rolling out in the next few weeks, you’ll be able to buy, sell, hold and transfer PYUSD. Learn more https://t.co/53RRBhmNHx pic.twitter.com/53ur2KmjU7 — PayPal (@PayPal) August 7, 2023 Stablecoins have long been considered in the mainstream financial ecosystem but haven’t seen widespread adoption. With PYUSD, PayPal has positioned itself at the intersection of traditional and digital finance, suggesting a possible increased role for digital currency in everyday transactions. What...

Binance won two service provider licenses in El Salvador, as its regulatory issues in the United States and Europe still remain. El Salvador’s Central Reserve Bank granted Binance’s Bitcoin services provider license application. At the same time, concurrently, the National Commission of Digital Assets awarded the exchange a non-provisional digital assets services provider license. In the Aug. 8 post, the exchange claimed these approvals would make it the first fully licensed crypto exchange in El Salvador.  #Binance is now El Salvador’s first fully licensed crypto exchange! With this, Binance has approvals and registrations in 18 markets worldwide, more than any other crypto exchange, including France, Italy, Spain, Sweden and Dubai.https://t.co/BITj9zxdcZ — Binance (@binance) August 8, 2023 Min Lin, Binance’s head of Latin America, emphasized that winning a license in El Salvador took months. The company furnished the necessary information and underto...

New York Representative Ritchie Torres had an exclusive interview with Cointelegraph to discuss why retail investors are still at risk following the XRP court ruling. On July 13, 2023, United States District Court Judge Analisa Torres ruled that Ripple’s XRP (XRP) token should not be considered a security when sold on retail digital asset exchanges. Stuart Alderoty, chief legal officer at Ripple, told Cointelegraph that last week’s ruling makes it clear that the U.S. Securities and Exchange Commission’s (SEC) theory that a token can be an investment contract and, therefore, a security, no longer has support in the law. He said of the ruling: “That is not only a huge win for Ripple, but it’s a win for all of crypto in the United States. The SEC can no longer tout their record in crypto, which was, up till now, by and large, settlements with players that didn’t have the resources to fight back.” While this may be, New York Representative Ritchie Torres told Cointelegraph that the Ripple...

In an open letter, Cameron Winklevoss slammed DCG's Barry Silbert for allegedly playing the victim card while owing $1.2 billion to Gemini’s 232,000 Earn customers. Crypto exchange Gemini founder and CEO Cameron Winklevoss is again threatening to sue Digital Currency Group and its CEO Barry Silbert over delays in the resolution of Genesis for its Earn customers while slamming the CEOfor allegedly trying to play the victim card. In the July 3 “Open Letter to Barry Silbert,” Winklevoss alleged the DCG enterprise had engaged in “fraudulent behavior” via a “culture of lies and deceit” — which have come at the expense of Gemini’s 232,000 Earn users. Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/ErsYpcEjQD — Cameron Winklevoss (@cameron) July 4, 2023 Among the accusations, Winklevoss’ strongly-worded letter alleges that Silbert intentionally delayed resolution through “abuse” of the mediation process, stating:  "Mediation has given DCG an indefinite forbearance on ...

The collaboration intends to bring changes to public administration and the business sector. Stablecoin issuer Tether has signed a memorandum of understanding (MoU) with the government of Georgia to develop Bitcoin and peer-to-peer (P2P) infrastructure in the country. The strategic collaboration between the Tether and the Georgian government will focus on building key infrastructure for a thriving startup ecosystem in Georgia.  The collaborative effort aims to attract international attention and investment toward the nascent decentralized space. The partnership aims to foster the growth of P2P technology at a state level and help build financial tools around it. Some of the key areas of develop ment include education on Bitcoin (BTC) and blockchain technology, building payment infrastructure for merchants, and develop ing a resilient, open and private P2P communication system. Paolo Ardoino (CTO, Tether) and Irakli Nadareishvili (Deputy Minister of Economy and Sustainable Develo...

Grayscale has removed ETH futures ETF plans after a warning from the SEC, while Bitwise amended its SEC filing to halt any near launch of Ether ETF products. Two prominent crypto asset managers, namely Grayscale and Bitwise, have put a halt on their ETH futures exchange-traded fund (ETF) plans amid growing scrutiny from United States regulators. Grayscale filed an amendment to its Securities and Exchange Commission filing on May 17 to remove mentions of Ethereum futures ETF. The amendment comes just within a week of sharing plans to launch a trio of ETF products. The other two flagship products include a semi-spot bitcoin ETF that would invest in the spot BTC market and a privacy ETF focused on investing in privacy-focused blockchain companies and digital assets. Grayscale just filed for a semi-spot bitcoin ETF, as well as Ethereum Futures ETF and a Privacy ETF. Interesting.. pic.twitter.com/MPruDolp7G — Eric Balchunas (@EricBalchunas) May 9, 2023 Grayscale’s amendment to it...