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More Cryptocurrency news

The company is actively recruiting for various positions including software engineers, engineering managers specializing in platform-payments, data scientists, and vendor management analysts, among others

Coinbase actively hiring tech professionals in India: Report

<h2>The company is actively recruiting for various positions including software engineers, engineering managers specializing in platform-payments, data scientists, and vendor management analysts, among others</h2>

Coinbase has initiated a robust expansion of its employee base in India, persisting in its recruitment drive despite ceasing services in the country at the end of October, as per a Moneycontrol report.&nbsp; The company's focus on filling pivotal product and technology positions spread across remote work setups as well as the thriving tech hubs of Bengaluru and Hyderabad
This move aligns with Coinbase's earlier declaration to establish a significant business presence in India by establishing a dedicated office. The company is actively seeking adept candidates capable of enhancing the operations of the US-based cryptocurrency exchange.&nbsp;
The company is actively recruiting for various positions including software engineers, engineering managers specializing in platform-payments, data scientists, and vendor management analysts, among others. Although the exact count of new hires remains undisclosed, the company has posted approximately 30 open positions on its LinkedIn page in the last three weeks, reported moneycontrol.
Coinbase has faced challenges during its tenure in India, grappling with high taxes imposed on cryptocurrency gains in the country and encountering obstacles in enabling UPI-based payments for crypto transactions on its platform. Also Watch: <a href="https://www.editorji.com/business-news/cryptocurrency-exchange-coinbase-to-discontinue-services-for-policy-violators-in-india-1694432610154">Cryptocurrency Exchange Coinbase to discontinue services for Policy Violators in India</a>

Sam Bankman-Fried, the founder of cryptocurrency platform FTX, has been found guilty of fraud

Former crypto tycoon Sam Bankman-Fried found guilty of fraud

Sam Bankman-Fried, the founder of cryptocurrency platform FTX, has been found guilty of fraud

Former crypto tycoon Sam Bankman-Fried was found guilty Thursday by a New York jury on all seven counts of fraud, embezzlement and criminal conspiracy.
The panel reached its decision after five weeks of trial, and Bankman-Fried now faces up to 110 years behind bars.
Sentencing will take place at a later date.
The month-long federal trial had been an ordeal for Bankman-Fried after some of his closest associates testified that he was key to all the decisions that saw $8 billion vanish from his FTX trading platform.
Bankman-Fried, 31, was until late last year a poster-boy for the crypto industry and estimated to be worth $26 billion by Fortune magazine, before his empire collapsed spectacularly.
In closing arguments, prosecutors portrayed the defendant as an extremely smart man consumed by greed who knew what he was doing when FTX funds were secretly funneled to his personal hedge fund.
"Find him guilty," US prosecutor Danielle Sassoon told the jury earlier on Thursday.
"He was ambitious" and had "the arrogance to think that he could get away with a fraud," she added.
The defense said their client had acted in "good faith" and was overtaken by circumstances and the financial ineptitude of close associates who testified against him to gain leniency from prosecutors.
The star witness in the trial was Bankman-Fried's former associate and on-and-off-again girlfriend Caroline Ellison who told the jury that they had stolen "around $14 billion" from clients of the FTX cryptocurrency trading platform before it collapsed into bankruptcy late last year.
The money was used to prop up Alameda Research, Bankman-Fried's personal hedge fund for which he picked Ellison as CEO.
In November 2022, the FTX empire imploded, unable to cope with massive withdrawal requests from customers panicked to learn that some of FTX's funds had been committed to risky operations by Alameda.
That money was used to finance venture capital deals, political contributions as well as swanky real estate in the Bahamas.
It also went toward paying tens of millions of dollars to celebrities, including Tom Brady and Gisele Bundchen, to gain their endorsement of FTX, as well as buying the naming rights for the Miami Heat's home arena.
Also Watch: <a href="https://www.editorji.com/business-news/uber-and-lyft-to-pay-328-million-for-withholding-driver-earnings-1698939848009">Uber and Lyft to pay $328 million for withholding driver earnings</a>

Bitcoin, the world’s largest cryptocurrency, surged 11% to $33,433.8, hitting its highest level since May 2022 

Bitcoin surges to $35,000, reaching a 1.5-year high on the back of ETF expectation

Bitcoin, the world&rsquo;s largest cryptocurrency, surged 11% to $33,433.8, hitting its highest level since May 2022&nbsp;

Bitcoin, the cryptocurrency with the largest market capitalization, reached its highest level since May 2022 on Tuesday amid growing speculation about the imminent launch of a Bitcoin exchange-traded fund (ETF). According to CoinMarketCap data as of 10:30 am, Bitcoin was trading at $34,408.26, marking a 7.7% increase from the previous day.
Ethereum, the second-largest cryptocurrency, also surged by 14.6%, reaching $1,822 on Tuesday morning. Other cryptocurrencies like Ripple, Solana, and Cardano also experienced notable gains.
The total market capitalization of the cryptocurrency market increased by 8.71% to $1.27 trillion, and trading volume surged by a substantial 70% to $81.2 billion within the last 24 hours.
Also read/watch- <a title="India's FY24 outlook is bright, to remain fastest growing economy: Finance Ministry report" href="https://www.editorji.com/business-news/economy/india-s-fy24-outlook-is-bright-to-remain-fastest-growing-economy-finance-ministry-report-1698064335265">India's FY24 outlook is bright, to remain fastest growing economy: Finance Ministry report</a>
In the past week, Bitcoin has reasserted its dominance in the market, holding a 53.1% share, followed by Ethereum at 17.3%.
<h3>Bitcoin ETF Expectations</h3>
Several investment firms, including BlackRock and Fidelity Investments, have pending applications for Bitcoin ETFs in the US. The recent listing of BlackRock's iShares ETF on a website fueled speculation about their potential approval. A Bitcoin ETF is expected to streamline the process of buying and selling Bitcoin through traditional stock markets.
Also read/watch - <a title="Mamaearth's parent Honasa plans Rs 1,700 crore IPO at Rs 10,500 crore valuation on October 31: Report" href="https://www.editorji.com/business-news/markets/mamaearth-s-parent-honasa-plans-rs-1-700-crore-ipo-at-rs-10-500-crore-valuation-on-october-31-report-169805423">Mamaearth's parent Honasa plans Rs 1,700 crore IPO at Rs 10,500 crore valuation on October 31: Report</a> &nbsp;
On Monday, a US federal appeals court solidified a victory for Grayscale Investments LLC in its efforts to establish a spot Bitcoin ETF, despite objections from the US Securities and Exchange Commission (SEC). The SEC has been hesitant to approve Bitcoin ETFs due to concerns about potential fraud and market manipulation. However, earlier this year, a US federal court instructed the SEC to reconsider its objections to Grayscale's ETF application, a decision that was formalized on Monday. 
<h3>Bitcoin's Remarkable Performance in 2023</h3>
The cryptocurrency rally follows this ruling, and in 2023, the price of Bitcoin has more than doubled, starting the year at just over $16,000. Shivam Thakral, the CEO of the crypto exchange BuyUcoin, noted that investors are increasingly turning to digital assets in these uncertain times to safeguard their wealth.

The communique was unanimously adopted at the fourth and final meeting of the G20 FMCBG under the Indian Presidency in Marrakesh, Morocco on the sidelines of the IMF-WB Annual Meetings

G20 on crypto assets: Ministers urge a quick rollout of a roadmap

<h2>The communique was unanimously adopted at the fourth and final meeting of the G20 FMCBG under the Indian Presidency in Marrakesh, Morocco on the sidelines of the IMF-WB Annual Meetings</h2>

The finance ministers of the G20 nations have called for swift and coordinated implementation of the G20 roadmap to deal with the issues related to crypto assets.
This roadmap, outlined in a joint Synthesis Paper by the International Monetary Fund (IMF) and Financial Stability Board (FSB), emphasizes the need for policy frameworks, global outreach, cooperation, and data enhancement. Also read/watch- <a title="India's aviation sector soars: September sees 6% surge in domestic air traffic" href="https://www.editorji.com/business-news/india-s-aviation-sector-soars-september-sees-6-surge-in-domestic-air-traffic-1697166707227">India's aviation sector soars: September sees 6% surge in domestic air traffic</a>
The G20's comprehensive roadmap aims to harmonize global policies, establish regulations, and consider the unique challenges facing Emerging Markets and Developing Economies (EMDEs).
The Finance Ministers and Central Bank Governors (FMCBG) based their communique on the G20 New Delhi Leaders Declaration (NDLD), benefiting from consensus reached at the recent Leaders' Summit.
Also read/watch - <a title="India vs Pakistan: Hotel prices skyrocket in Ahmedabad but clever fans find these alternatives" href="https://www.editorji.com/business-news/personal-finance/india-vs-pakistan-hotel-prices-skyrocket-in-ahmedabad-but-clever-fans-find-these-alternatives-1697121601938">India vs Pakistan: Hotel prices skyrocket in Ahmedabad but clever fans find these alternatives</a>
This communique was unanimously adopted during the fourth and final meeting of the G20 FMCBG, held in Marrakesh, Morocco, alongside the IMF-WB Annual Meetings under the Indian Presidency.
The communique also welcomed the upcoming Brazilian Presidency of the G20 and looked forward to continued work on enhancing global economic cooperation to achieve strong, sustainable, balanced and inclusive growth.&nbsp;

The new SEC lawsuit, which is suing Binance, Binance.US and CZ on thirteen charges, accuses the exchange of offering unregistered securities to the general public, naming the BNB and BUSD tokens

Cryptos prices crash after US regulators charge Binance with violating securities laws

The new SEC lawsuit, which is suing Binance, Binance.US and CZ on thirteen charges, accuses the exchange of offering unregistered securities to the general public, naming the&nbsp;BNB&nbsp;and BUSD tokens

Cryptocurrency markets experienced a big intraday drop, a day after US authorities charged cryptocurrency giant Binance with securities law violations and lying to regulators as per a Bloomberg report.&nbsp; Bitcoin fell over 6% and was trading around the $25,800 mark. This after having just hit its lowest levels since March under $25,500. Meanwhile, Ethereum, fell around 4%.&nbsp;
According to Bloomberg, Binance Coin, the native token of the ecosystem of the world&rsquo;s biggest digital asset exchange, fell as much as 13%. Bitcoin accounts for almost 50% of the value of the $1.2 trillion crypto market, according to data from CoinMarketCap. Binance Coin is the fourth-largest token, with a market value of around $43 billion. Binance handles around 50% of all crypto trading volume. Binance violating securities Binance allegedly permitted US residents to trade, even though the platform is not registered in the United States as a securities exchange. The case also alleges Binance misused customer funds.
The Securities and Exchange Commission filed a civil complaint listing 13 charges involving platforms and other investment entities controlled by founder Changpeng Zhao, who was once seen as the archrival of disgraced crypto tycoon Sam Bankman-Fried.
The SEC case comes on the heels of charges in March by another US regulator, the Commodities Futures and Exchange Commission.
Zhao and Binance publicly claimed that US customers were barred from transacting on Binance.com, but the platform "secretly" allowed high-value customers to keep trading, the SEC said.

The value of the global cryptocurrency market, boosted by keen demand from small investors during Covid lockdowns, hit a peak of about $3.0 trillion in late 2021, but then fell off a cliff and currently stands at just over $1.1 trillion

Cryptocurrency regulations: UK lawmakers want it should be regulated like gambling

The value of the global cryptocurrency market, boosted by keen demand from small investors during Covid lockdowns, hit a peak of about $3.0 trillion in late 2021, but then fell off a cliff and currently stands at just over $1.1 trillion

Cryptocurrency investments should be regulated like the gambling industry, UK lawmakers said Wednesday.
The plea, from parliament's powerful cross-party Treasury Committee, came one day after EU ministers agreed on tougher tax rules for crypto transactions.
Global authorities are increasingly anxious of the lack of oversight of the sector, whose most popular units are bitcoin and ether.
"Unbacked cryptoassets have no intrinsic value, and their price volatility exposes consumers to the potential for substantial gains or losses, while serving no useful social purpose," the Treasury Committee said in a report.
"These characteristics more closely resemble gambling than a financial service, an impression reinforced by the evidence we have received of consumer behaviour."
It continued: "We therefore strongly recommend that the government regulates retail trading and investment activity in unbacked cryptoassets as gambling rather than as a financial service."
The value of the global cryptocurrency market, boosted by keen demand from small investors during Covid lockdowns, hit a peak of about $3.0 trillion in late 2021, but then fell off a cliff and currently stands at just over $1.1 trillion.
The industry, which craves acceptance by traditional finance, has been rocked by a series of scandals.
That includes the high-profile collapse of cryptocurrency Terra in mid-2022 and the failure of exchange FTX later that year.
The Treasury Committee expressed caution Wednesday over risks posed by "poorly run businesses" in the sector, as well as the increasing use of crypto by fraudsters and other criminals.
Britain's Conservative government, led by Prime Minister Rishi Sunak, is looking to establish a regulatory framework for crypto as it seeks to avoid falling behind the EU and United States.
"It is not the government's role to promote particular technological innovations for their own sake," the committee report added Wednesday.
It also criticised Britain's aborted project to sell non-fungible tokens (NFTs), or digital tokens based on crypto technology. Sunak unveiled the initiative as finance minister in April 2022.
The committee however praised UK proposals for greater regulation of professional crypto investors.
It added cryptocurrencies could potentially be used "to improve efficiency and reduce the cost of making payments".
The European Union meanwhile took more steps this week to protect investors.
EU finance ministers agreed Tuesday on rules to go after individuals who stash their cash where tax authorities have no oversight.
The 27-member bloc's parliament last month approved the world's first comprehensive rules covering crypto assets.

Bitcoin has climbed over $30,000 level for the first time since June 2022. It has gained about 6% since the start of the month

Bitcoin value rises over $30,000 for first time since June

Bitcoin has climbed over $30,000 level for the first time since June 2022. It has gained about 6% since the start of the month

Bitcoin has climbed over the key $30,000 level for the first time since June 2022, rallying more than 80% since the start of the year. This comes, as the investors expect the U.S. Federal reserve to soon end its monetary tightening policy.
As per Bloomberg, the rebound is even more intense than a nearly 20% gain on the Nasdaq 100 &mdash; with which Bitcoin has tended to move in tandem &mdash; and retraces some of the digital token&rsquo;s losses from 2022 following a series of crypto-related blowups. Still, Bitcoin is down more than 50% from its all-time high in November 2021.
The token has risen as much as 2% to $30,262. The cryptocurrency has gained about 6% since the start of the month. In March it has gained about 23%.&nbsp;
As per Mint, bitcoin's surge follows Friday's closely-watched US nonfarm payrolls report that showed employers maintained a strong pace of hiring in March, pointing to a still-resilient economy.
Bloomberg reported, bitcoin&rsquo;s breakout above stiff resistance at $30,000 comes after a so-called squeeze of the Bollinger Band, which saw historical volatility fall to the lowest since January. The compression back then resulted in a sharp move upward that looks similar to Tuesday&rsquo;s upside breakout. Traders following technical patterns may now be looking at the $30,800 area as a first potential objective, followed by $31,200.

Federal Reserve decision on Wednesday is the next key catalyst, cryptos show signs of fundamental strength

White House blasts on cryptocurrencies; says 'have no fundamental value’

Federal Reserve decision on Wednesday is the next key catalyst, cryptos show signs of fundamental strength

In its latest economic report, the White House has made some scathing comments on digital assets. The report features an entire chapter which points out flaws in the crypto ecosystem as well as raises serious concerns.&nbsp; This report, which casts doubts on the merits of crypto assets, has the crypto industry outraged.&nbsp;
The report, looked at a number of claims from the crypto industry, ranging from cryptocurrencies' role as investment vehicles and payment tools to its potential use in payment infrastructure, saying that "many of them do not have a fundamental value".&nbsp;
It also includes various disasters in the crypto sector, including last year's TerraUSD collapse, BitConnect and FTX, which were cited as examples of how everyday Americans were harmed.
Report comes amid growing industry concern that federal regulators are looking to de-bank crypto companies, though state and federal regulators have thus far denied these claims. Still, the tone of the report is unlikely to assuage these concerns. Meanwhile, most cryptocurrencies have gained momentum in the recent days with Bitcoin's price hovering above the $28,000 level for the first time since June 2022. The largest digital coin has gained roughly 25% since March 8, when signs first emerged of trouble around Silicon Valley Bank (SVB), which has since folded and ignited turmoil among other lenders.&nbsp;

Trump’s election has sparked widespread expectations for a more favourable regulatory environment for digital assets, reversing the crackdown imposed by the Biden administration. 

Bitcoin's Rally Continues: Surpasses $106,000 on News of Trump’s Bitcoin Reserve Fund

Trump&rsquo;s election has sparked widespread expectations for a more favourable regulatory environment for digital assets, reversing the crackdown imposed by the Biden administration.

Bitcoin surged to a record high on Monday, crossing the $106,000 mark for the first time, driven by optimism surrounding President-elect Donald Trump&rsquo;s pro-cryptocurrency stance. The digital asset climbed more than 3% in early Asian trading, reaching an unprecedented $106,493, surpassing its previous peak on December 5. The rally has extended Bitcoin&rsquo;s winning streak, marking its longest run since 2021.
Trump&rsquo;s election has sparked widespread expectations for a more favourable regulatory environment for digital assets, reversing the crackdown imposed by the Biden administration. He has also supported the creation of a strategic Bitcoin reserve fund, a move that has generated both excitement and scepticism.
Aya Kantorovich, co-founder of institutional crypto platform August, noted that many are banking on a friendlier regulatory landscape under Trump&rsquo;s leadership, which has fueled increased demand for Bitcoin-related exchange-traded funds (ETFs).
The positive sentiment surrounding Bitcoin has also extended to other cryptocurrencies, including Ether, XRP, and Dogecoin, which have all posted gains.
On Friday, Nasdaq Global Indexes announced that MicroStrategy, a major Bitcoin investor, will be added to the Nasdaq 100 Index, underscoring the growing mainstream acceptance of digital assets. MicroStrategy has raised capital to invest billions into Bitcoin, becoming a key player in the crypto market.
Despite the recent gains, analysts are cautioning that a pullback may be on the horizon. IG Australia&rsquo;s Tony Sycamore pointed out that the pace of Bitcoin&rsquo;s gains has slowed recently, suggesting a potential correction could be coming. As of Monday morning, Bitcoin was trading at $106,215 in Singapore.
The ongoing surge in Bitcoin prices reflects the market's optimism about Trump&rsquo;s impact on the crypto space, with many analysts predicting that $110,000 could be the next milestone for the leading cryptocurrency.

Cryptocurrency

The Financial Intelligence Unit fined Binance Rs 18.82 crore for violating India's anti-money laundering regulations. Binance must comply with PMLA and AMLCFT rules to resume operations, after being barred in December 2023 for non-compliance

India's Financial Intelligence Unit slaps Rs 18.82 crore fine on world's largest cryto exchange Binance

<h2>The Financial Intelligence Unit fined Binance Rs 18.82 crore for violating India's anti-money laundering regulations. Binance must comply with PMLA and AMLCFT rules to resume operations, after being barred in December 2023 for non-compliance</h2>

The Financial Intelligence Unit has imposed a fine of Rs 18.82 crore on Binance, the world's largest cryptocurrency exchange, for operating in India in violation of domestic anti-money laundering regulations.&nbsp;
"After considering the written and oral submissions of Binance, the Director, FIU-IND, based on the material available on record, found that the charges against Binance were substantiated." a notification by FIU said. "Furthermore, specific directions have also been issued to Binance to ensure diligent compliance with the obligations outlined in Chapter IV of the Prevention of Money Laundering Act (PMLA) of 2002, in conjunction with the PMLA Maintenance of Record Rules (PMLA Rules) of 2005 for the prevention of money laundering activities and combating the financing of terrorism (AMLCFT)," it added
<h3>Binance Fined</h3>
Binance had registered with the Financial Intelligence Unit in May as it sought to resume operations in the country after being issued a show-cause notice by the financial watchdog in December 2023, along with eight other offshore exchanges that were operating in violation of local rules.
In December, Binance was barred from operating in India for not complying with local regulations as part of the financial watchdog's crackdown on offshore crypto exchanges that were operating in the country without registration.
Binance can now resume operations only after paying the penalty for previous non-compliance. Virtual digital asset service providers, like crypto exchanges should comply with obligations mandated under the country's anti-money laundering rules in India
Also watch: <a href="https://www.editorji.com/business-news/sebi-open-to-oversight-of-crypto-trade-in-contrast-to-rbi-s-stance-report-1715865351779">SEBI open to oversight of crypto trade in contrast to RBI's stance: Report</a>

Virat Kohli not dominating in the first 3 matches is a major concern for Team India, given that he entered the tournament after ending the IPL as the highest run-scorer.

What's going wrong for Virat Kohli in T20 World Cup 2024?

Virat Kohli not dominating in the first 3 matches is a major concern for Team India, given that he entered the tournament after ending the IPL as the highest run-scorer.

0, 4, 1, 0 You might think that these are scores of a tailender but surprisingly, these are the runs which Virat Kohli has scored in his last 4 T20I innings. Sadly, 3 of them have been in the ongoing T20 World Cup. Virat not dominating in the first 3 matches is a major concern for Team India, given that he entered the tournament after ending the IPL as the highest run-scorer. After his success as an opener in the cash-rich league, the team management asked Virat to partner Rohit Sharma at the top in the World Cup as well. But it has been a sorry story for the King since then. Kohli's weakness outside the off-stump was exposed once again. While he was out playing an expansive shot against Ireland and Pakistan, Virat was undone by an outswinger against the USA. Statistics are also against the former India skipper. While batting in his preferred Number 3 position In T20 World Cups, Virat was out for a single-digit score just once in 24 innings. However, he has failed to enter double-digits on all 4 occasions while batting at other spots. Let's analyse what might be going wrong for Virat
For starters, he didn't travel to the USA with the rest of the team members and arrived just a day before India's warm-up game against Bangladesh.
A jet-lagged Kohli had to miss the practice match and with that a chance to take a look at the makeshift Nassau County International Cricket Stadium.
He got a taste of the New York wicket, which proved to be a nightmare for the batters and failed to adapt to the slow nature of the track.
Thankfully, the Indian team is not supposed to play any more games at this ground and after 1 more scheduled outing in Florida, Virat will travel to the Caribbean where batting conditions will not be so challenging.
Fans and the team management will hope that he finds his mojo back after moving out of the Big Apple.
Thankfully, India hasn't had any hiccups in the group stage but come the Super Eights, where the Men in Blue will face tougher opponents, Team India will certainly need the King to fire and reclaim his throne.

The defendant also was ordered to pay $11 billion, an amount reflective of what Bankman-Fried effectively stole from other parties

Fallen crypto tycoon Bankman-Fried gets 25-year sentence

<h2>The defendant also was ordered to pay $11 billion, an amount reflective of what Bankman-Fried effectively stole from other parties</h2>

Disgraced cryptocurrency wunderkind Sam Bankman-Fried was sentenced to 25 years in jail on Thursday -- a stunning descent for a figure who seemed poised to lead an emerging sector less than two years ago.
US District Judge Lewis Kaplan said the defendant, who became known by his initials "SBF," had shown no "real remorse," even in his final pre-sentencing remarks in which the former billionaire rued "a series of bad decisions" but did not acknowledge knowingly violating financial laws.
Bankman-Fried said "mistakes were made, but never a word of remorse for the commission of a terrible crime," said Kaplan, who characterized the violations as "brazen" and called out the defendant for his "exceptional flexibility" towards the truth.
Kaplan set a sentence of 25 years in prison, followed by three years of supervised release. The defendant also was ordered to pay $11 billion, an amount reflective of what Bankman-Fried effectively stole from other parties, according to Kaplan's calculations.
Thursday's sentencing followed the November 2023 conviction by a federal jury in New York of Bankman-Fried, who once made the cover of financial magazines and financed splashy Super Bowl television ads in 2022.

Bankman-Fried, also known as SBF, stands convicted in one of the largest financial fraud cases in history

Will Sam Bankman-Fried's sentencing affect Bitcoin prices amid crypto fraud allegations?

<h2>Bankman-Fried, also known as SBF, stands convicted in one of the largest financial fraud cases in history</h2>

The scheduled sentencing hearing for Sam Bankman-Fried, set for March 28, is under scrutiny amidst reports of a significant surge in Bitcoin's value, the Financial Times has reported.
The FT reports that the hearing may be affected by a significant increase in the value of Bitcoin. Not only this, Bankman-Fried's lawyers argue that the cryptocurrency's resurgence mitigates financial losses.&nbsp; Crypto fraudster Bankman-Fried faces sentencing Disgraced cryptocurrency wunderkind Sam Bankman-Fried is set to be sentenced Thursday following his conviction in one of the biggest financial fraud cases in history.
US prosecutors are seeking a prison term of 40-50 years after a New York jury found Bankman-Fried, known by his initials SBF, guilty in November following a five-week trial that probed the one-time high roller's spectacular fall.
Calling Bankman-Fried's seven-count conviction reflective of the defendant's "unmatched greed and hubris," the government's sentencing request argues for significant jail time in light of fraud it estimates at more than $10 billion.
Moreover, a lengthy sentence is necessary to "protect the public," argued US Attorney Damian Williams, who characterized Bankman-Fried as an "adept" spin doctor capable of additional malfeasance.

His remarks come against the backdrop of the US Securities and Exchange Commission approving changes to allow the creation of bitcoin exchange-traded funds in the US

RBI Governor Das on Crypto regulations, 'What works for one market may not suit India's needs'

<h2>His remarks come against the backdrop of the US Securities and Exchange Commission approving changes to allow the creation of bitcoin exchange-traded funds in the US</h2>

&nbsp;Reserve Bank Governor Shaktikanta Das on Thursday said the central bank will not emulate others on crypto currency regulations and asserted that "what is good for another market need not be good for us".
His remarks come against the backdrop of the US Securities and Exchange Commission approving changes to allow the creation of bitcoin exchange-traded funds in the US.
"What is good for another market need not be good for us. Therefore our views -- both that of the Reserve Bank and personally that of mine -- remain the same," Das said on crypto currency regulations.
He was speaking at a BFSI summit organised by the publication Mint.
To a question whether he sees the forthcoming vote-on-account to be inflationary, he said going by the past records of the present government, he feels that the interim budget will not lead to inflationary pressures.
The governor pointed to the many supply side measures that the government has taken to contain price rise since the beginning of the Russia-Ukraine war.

Even as Bitcoin is below its 2021 record highs of $60,000, the cryptocurrency has hit $40,210 going past $40,000 for the first time in 2023 amid expectations of interest rate cut by US Federal Reserve Bank

Bitcoin breaks $40,000 amid US interest rate cut expectations

Even as Bitcoin is below its 2021 record highs of $60,000, the cryptocurrency has hit $40,210 going past $40,000 for the first time in 2023 amid expectations of interest rate cut by US Federal Reserve Bank

Bitcoin has broken above $40,000 for the first time in 2023. This, due to a broad enthusiasm about US interest rate cuts and also as traders are anticipating approval of US stockmarket traded bitcoin funds.
<h3>Bitcoin Rally</h3>
At $40,210 Bitcoin hits its highest since April 2022 on Sunday trade. It was steady at $40,011 in thin trade early in the Asia day on Monday. Despite the alleged crypto winter, bitcoins has more than doubled this year.&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/u-s-money-laundering-richard-teng-becomes-binance-s-ceo-after-changpeng-zhao-pleads-guilty-steps-down-1700630320585">US money laundering: Richard Teng becomes Binance's CEO after Changpeng Zhao pleads guilty &amp; steps down</a>
Expectations on US Federal Reserve to pause the rate hike has propelled riskier investments and other interest-rate sensitive assets, such as gold to rally over the last few weeks. Reports of US Securities and Exchange Commission not appealing a court ruling that found the agency had been wrong to reject an exchange-traded fund application from crypto firm Grayscale Investments emerged in October. This have also driven the bitcoin prices up.
However, Bitcoin still remains below its 2021 record highs of $60,000

Cryptocurrency

Bitcoin's Rally Continues: Surpasses $106,000 on News of Trump’s Bitcoin Reserve Fund

India's Financial Intelligence Unit slaps Rs 18.82 crore fine on world's largest cryto exchange Binance

What's going wrong for Virat Kohli in T20 World Cup 2024?

Fallen crypto tycoon Bankman-Fried gets 25-year sentence

Will Sam Bankman-Fried's sentencing affect Bitcoin prices amid crypto fraud allegations?

RBI Governor Das on Crypto regulations, 'What works for one market may not suit India's needs'

Bitcoin breaks $40,000 amid US interest rate cut expectations

More Cryptocurrency news

Coinbase actively hiring tech professionals in India: Report

FTX founder Sam Bankman-Fried found guilty of fraud

Bitcoin surges to $35,000, reaching a 1.5-year high on the back of ETF expectation

G20 on crypto assets: Ministers urge a quick rollout of roadmap

Crypto prices crash after US regulators charge Binance with violating securities laws

Cryptocurrency must be regulated like gambling, say U.K lawmakers

Bitcoin value rises over $30,000 for first time since June

White House's scathing comments on crypto: 'have no fundamental value’

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