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Thai Bank Acquires 97% Stake in Bitcoin and Crypto Exchange

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In a strategic move that solidifies its presence in the cryptocurrency sector, Thailand’s Kasikorn Bank has announced the acquisition of a 97% stake in Satang Corporation Company Limited, the parent company of the Satang cryptocurrency exchange. The deal, valued at 3,705 million Thai baht ($102.8 million), was carried out through a newly formed subsidiary of…

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Binance Crypto Exchange Launches Futures Trading for Ethereum-Based Altcoin Surges Over 50% in a Week

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The world’s largest cryptocurrency exchange by volume is launching futures trading for an Ethereum-based altcoin (ETH) that is up more than 50% in a week. In a new announcement, cryptocurrency exchange Binance says it will launch futures contracts with up to 50x leverage for Powerledger (POWR), a decentralized energy marketplace built on ETH that democratizes…

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Chainalysis lays off more employees in new round of crypto job cuts

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Blockchain forensics firm Chainalysis is laying off part of its workforce, the second time it has done so this year. The news comes during a difficult period for the entire sector, which has seen a series of such moves in 2023, against a backdrop of a persistent bear market and increased regulatory pressure. Cryptanalysis firm…

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US Crypto Exchange Kraken Obtains ‘Historical’ Regulatory Approvals in Europe

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The Kraken cryptocurrency exchange announced new achievements in the implementation of its strategy to seek expansion in the European market. The US digital asset trading platform said it received regulatory approvals from monetary authorities in Ireland and Spain, two of the EU countries with relatively clear rules for the sector. Kraken, Another Major US Crypto…

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Australian banks block payments to ‘high risk’ crypto exchanges

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National Australia Bank joins other major Australian banks in blocking payments to “high-risk” cryptocurrency exchanges to protect customers. The National Australia Bank (NAB) announced on Monday that it had blocked some payments to “high-risk” cryptocurrency exchanges in recent months to protect its customers. The lender said Australians lost an estimated $151 million last year due…

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Gemini Cryptocurrency Exchange Opens European Headquarters in Ireland Amid Growing US Regulatory Uncertainty

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Crypto exchange Gemini has found a new European headquarters as US regulators remain hostile towards the digital asset industry. On Thursday, Cameron Winklevoss, who co-founded the exchange with his twin brother Tyler, announced that his company would establish a regional headquarters in Ireland. “Impressive meeting this morning with Leo Varadkar, the Prime Minister of Ireland….

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Bitfinex and Chilean OrionX Partner to Accelerate Cryptocurrency Adoption in Latin America

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Bitfinex Announces Strategic Partnership with OrionX Bitfinex, a state-of-the-art digital asset trading platform, announced on Wednesday, May 24, that it has partnered with leading Chilean crypto company Orionx. According to the press release shared with Coinjournal, the two entities will work together to promote financial freedom and inclusion across Latin America. Commenting on the latest…

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Bitcoin strike-based payment app announces expansion in Philippines

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Bitcoin Strike-based financial app and payment network announced that they are expanding their money transfer services with Bitcoin Lightning Network to the Philippines. The ad sees Strike making its foray into one of the biggest remittance markets in the world, valued at a staggering $35 million. Expansion to the Philippines Digital payments company Strike has…

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Why did the US Treasury sanction the Tornado Cash cryptocurrency exchange?

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According to a press release, the U.S. Treasury Department announced sanctions against Tornado Cash, a decentralized exchange (DEX). The institution has added the tornado.cash website, associated entities, and various Ethereum-based addresses to its Office of Foreign Assets Control (OFAC) list of Specially Designated Citizens and Blocked Persons (SDN). There are around 40 ETH addresses on…