The defendants in the suit are six life sciences companies, the FTX Foundation philanthropical organization, the Latona Biosciences Group “sham” nonprofit, former FTX CEO Sam Bankman-Fried, FTX Foundation head Nicholas Beckstead and Latona head Ross Rheingans-Yoo.Continue Reading on Coin Telegraph More
In a July 20 announcement, Hashdex said Brooks had become the fifth member of its board and will serve as a strategic adviser to the firm. Brooks was the chief legal officer of Coinbase (NASDAQ:COIN) from 2018 to 2020, served as acting comptroller of the currency from 2020 to 2021, worked as the CEO of Binance.US for roughly four months and was the CEO of Bitfury from October 2021 to December 2022. Continue Reading on Coin Telegraph More
In a search for evidence that could back its defense from fraud charges, Terraform’s lawyers filed a motion on July 19 in FTX’s bankruptcy case to access the company’s information about digital wallets used by short sellers between March 2022 and May 2022. Terraform claims its stablecoin failure was a result of a coordinated attack from short sellers, possibly involving Alameda Research, FTX’s sister company.Continue Reading on Coin Telegraph More
This follows the euphoria surrounding Ripple’s partial win versus the U.S. Securities and Exchange Commission, resulting in bullish calls for as high as $15 in the coming months. Continue Reading on Coin Telegraph More
In a July 20 announcement, the FCA said the Digital Sandbox will become available on a permanent basis starting on Aug. 1. The financial watchdog conducted two pilot programs of the initiative, which will be open to businesses, startups and data providers — including those involved in banking, investment, lending and payments.Continue Reading on Coin Telegraph More
Marketing a business always takes a lot of hustle, and blockchain technologies will likely need to blend traditional marketing methods focused on their own unique benefits with new strategies to make B2B clients outside the industry excited about what blockchain can do. Below, 16 members of Cointelegraph Innovation Circle share tips to help blockchain companies improve their marketing strategies to attract and land potential clients.Continue Reading on Coin Telegraph More
CoinDesk is currently owned by crypto conglomerate Digital Currency Group (DCG), which bought it in 2016. Any sale would likely bolster DCG’s financial strength as the company looks to pull its Genesis unit out of bankruptcy.DCG was also sued by Gemini, the largest creditor of Genesis, earlier this month, after the companies failed to agree to a restructuring deal for the bankrupt unit.CoinDesk, Roszak’s investment firm Tally Capital and Vessenes’s family office did not immediately respond to Reuters requests for comment. More
South Africa’s central bank has ended a long run of monetary policy hikes, keeping its benchmark rate at 8.25 per cent after inflation in Africa’s most industrialised economy returned to its target range.The South African Reserve Bank said on Thursday that it was pausing rate increases, after a cumulative 4.75 percentage points since 2021 made it one of the earliest central banks in emerging markets to tighten policy over the global surge in inflation of the past two years.South African inflation slowed to 5.4 per cent in June, according to official statistics, falling below the upper end of a bank target of 3-6 per cent for the first time since April 2022. Excluding food and non-alcoholic beverages, the measure fell below 4.5 per cent.Overall price rises are “forecast to sustainably revert to the midpoint of the target range by the third quarter of 2025,” the bank said. “Serious upside risks to the inflation outlook remain,” it added.“The job is not done,” said Lesetja Kganyago, central bank governor. “We’re ready to deploy our tools to tackle this monster that’s eating the income of South Africans. We believe we’ve turned the corner [but] there are still risks on the horizon.” Policymakers are at the same time facing further signs of weakness in South Africa’s stagnant economy, which is battling intense rolling blackouts imposed by the broken Eskom state power monopoly. Indicators from retail sales to mining data have deteriorated in recent weeks.The central bank slightly raised its forecast for growth to 0.4 per cent this year, but warned that “energy and logistical constraints remain binding on the growth outlook, limiting economic activity and increasing costs.” The bank expects 280 days of rolling blackouts in 2023.Several developing economies have experienced signs of disinflation over recent months as global goods prices have calmed. Yet many of their central banks are under pressure to remain hawkish, particularly as long as the US Federal Reserve is signalling a tightening of interest rates, which influence demand for investing in emerging markets.While three members of the bank’s monetary policy committee voted for the pause, two advocated for a further increase of 0.25 percentage points. “The split vote suggests that inflation concerns continue to linger and it’s likely to take some time before a majority on the MPC are in favour of rate cuts,” said Jason Tuvey, deputy chief emerging markets economist at Capital Economics.Mamello Matikinca-Ngwenya, chief economist at South African bank FNB, said: “To insulate their ability to reach the 4.5 per cent inflation target in the medium term, the hiking cycle may be resumed. Most likely, interest rates will remain higher for longer.” More
