The DFPI's investigation into BlockFi found that the platform had violated key provisions of the California Financing Law (CFL). According to regulators, BlockFi's lending practices fell short in several areas, notably by not evaluating borrowers' repayment ability before loan approval, charging interest pre-disbursement, and inaccurately representing annual interest rates.

According to cybersecurity firm Recorded Future, North Korean hacker groups have stolen approximately $3 billion in funds since 2017.

The US Department of Justice (DOJ) has launched a website to collect information from individuals affected by the 2016 Bitfinex hack, according to a Nov. 7 statement. The DOJ announced it was inviting statements from those impacted by the hack, including affected Bitfinex account holders.

The Deutsche Bundesbank partners with Singapore's MAS and the Ethereum Foundation in Project Guardian to advance financial tokenization. The initiative focuses on interoperable blockchain platforms and pilot projects that integrate blockchain with traditional finance for operational efficiency and liquidity. The post Germany's Bundesbank Joins Singapore's Project Guardian for Financial Market Tokenization appeared first on Cryptonews.

The cryptocurrency industry, including heavyweights like Coinbase and Ripple, spent more than $119 million backing pro-crypto U.S. congressional candidates, hoping to boost those who would pass crypto-friendly bills to promote digital assets.

In a recent social media post, former Binance CEO Changpeng Zhao commented on the second anniversary of the FTX collapse.

Crypto.com steps up to cover X subscriptions in a show of support for Elon Musk's push for free speech in the wake of Trump's election victory.

Dean Skurka, CEO of blockchain and crypto firm WonderFi, was kidnapped, held for ransom, and was subsequently released after paying $1 million. According to CBC and other sources, Skurka was reportedly abducted in downtown Toronto around 6 p.m.

As the markets digest the just-concluded United States polls, it is emerging that the cryptocurrency space might be the biggest beneficiary of the elections.

Pharos, a developer of a Layer 1 blockchain targeting fintech use cases has raised $8 million in seed funding.

FTX co-founder and former CTO Gary Wang continues to work with US authorities after giving his testimony at the trial of his college roommate and ex-colleague, Sam Bankman-Fried. Wang is among the FTX executives who were charged following the collapse of the FTX crypto exchange. He pleaded guilty to four criminal counts in December 2022.

Regardless of the issues, DeFi could see massive growth in the coming years as demand for institutional-grade solutions continues to rise.

The crypto market is on the verge of concluding the first week of November on a bullish note. This highlights a strong bullish outlook from the crypto space in the coming time. Moreover, the Ethereum price has jumped ~16% in seven days and is on the verge of reclaiming the $3k mark.

The American Securities Association (ASA) recently called for the immediate resignation of SEC Chair Gary Gensler. ASA's bold move came from its President and Chief Executive Officer, Chris Iacovella, who underlined the view that such change in management within the SEC would fall in line with what the voters have just said: that other directions

The California Department of Financial Protection and Innovation has permanently revoked BlockFi's lending license following its bankruptcy and regulatory issues. BlockFi, a crypto lending platform, collapsed in 2022 amid financial troubles tied to the downfall of crypto exchange FTX.

Binance Labs, the venture capital arm of crypto exchange Binance, has made a strategic investment in BIO Protocol, a blockchain-based platform that aims to reshape early-stage scientific research funding. The investment marks Binance Labs' first foray into the emerging Decentralized Science (DeSci) sector, highlighting its commitment to leveraging blockchain technology for societal impact.

Polymarket shows over 50% chance of Scott Bessent to be the future Treasury Secretary in Trump's administration. Mathew Sigel, the Head of Digital Asset Research at VanEck shared Polymarket's prediction on his X account for the new Secretary of Treasury.

Pseudonymous crypto trader Cold Blooded Shiller analyzed why investors that want to maximize bull market gains should focus on select growth areas instead of diversifying excessively. What Happened: In a detailed post on X on Thursday, the trader critiqued the prevalent emphasis on "outperformance" during bull markets, arguing that chasing market rotations and attempting to time entries often hinders gains.

The Motor City's latest move will allow residents to settle local fees using digital assets.

Hong Kong's anonymous KYC trial enables mainland Chinese to access stablecoins, blending privacy with compliance in blockchain tech. The post Hong Kong trials anonymous KYC to enable stablecoin access for Chinese residents appeared first on Crypto Briefing.

As President-Elect Donald Trump prepares to assume office, the crypto industry is closely watching his administration's potential picks for key financial regulatory positions. With promises to end the “war on crypto” initiated under the Biden administration, Trump is expected to overhaul leadership at the Securities and Exchange Commission (SEC) and other financial agencies.

According to the President of the Texas Blockchain Council, the recent election outcome brought much-needed relief for the industry.

Binance Labs, the venture capital arm of Binance, has announced its investment in BIO Protocol, a platform designed to help early-stage scientific research startups access decentralized funding opportunities.

Crypto analyst and digital assets trader Ali Martinez is leaning bullish on the largest memecoin by market cap. Martinez tells his 77,400 followers on the social media platform X that Dogecoin (DOGE) could go up by more than twenty-fold from the current price.

Standard Chartered analyst forecasts crypto market cap could reach $10 trillion by 2026 on Republican sweep of the U.S. Congress.

FTX has filed a lawsuit to recover over $11 million from a Crypto.com account allegedly controlled by its sister company, Alameda Research. The lawsuit, detailed in a court document dated Nov. 8 and obtained by crypto.

Dave McCormick secures a narrow victory in Pennsylvania's Senate race, unseating Democratic incumbent Bob Casey. Known for his pro-crypto stance, McCormick's win signals stronger advocacy for blockchain and financial innovation amid broader Republican gains in the 2024 elections. The post Pro-Crypto Dave McCormick Wins Pennsylvania Senate Seat appeared first on Cryptonews.

TL;DR dApps led blockchain revenue generation in October 2024, raising $164 million out of a total of $182 million generated. The majority of these revenues come from trading bots and decentralized exchanges (DEXs) related to speculative trading. Despite the growth, the Binance Research report highlights the lack of investment in blockchain infrastructure.

Dubai, UAE, 8th November 2024, Chainwire

Internet celebrity Hailey Welch, known as Hawk Tuah Girl, spent a month as a crypto influencer before doxxing her wallets. One address contains 50% of the supply of Hawktuah, a newly launched token from Pump.fun.

The abrupt end of MELD amid new product releases and the approaching bull market peak raises red flags among Cardano veterans.

TL;DR Binance Labs has made its first investment in the decentralized science sector with BIO Protocol. BIO Protocol allows scientists, patients, and investors to collaborate in the development and ownership of new medical treatments. With the support of Binance Labs, BIO seeks to expand its network of BioDAOs and enhance its infrastructure.

Here are the top 10 cryptocurrencies for the first week of November 2024, with insights into their market performance, technical ratings, and growth potential.

The California DFPI revoked BlockFi's lending license for unsafe lending practices and violations of the California Financing Law. Following investigations, BlockFi agreed to surrender its license amid bankruptcy, reflecting heightened regulatory oversight in the evolving crypto lending sector. The post California Permanently Revokes BlockFi's Lending License Two Years After Bankruptcy appeared first on Cryptonews.

QCP Capital reports that the 2024 U.S. presidential election outcome is significantly influencing both cryptocurrency and treasury markets. QCP Highlights Trump Victory's Effect on Bitcoin and Treasury Yields Highlighting a Positive Feedback Loop According to QCP Capital's latest market updates, Donald Trump's success in the 2024 presidential race has sparked notable financial shifts.

Project Guardian welcomes a new policymaker to advance discussions and tests on asset tokenization policies.

Binance Labs makes its first investment in the decentralized science (DeSci) space, backing the BIO Protocol.

Navigating the ever-changing crypto market can be challenging for investors, who often descend into the depths of the industry without any guidance. Some have taken on the task of developing tools to help traders steer their strategies and try to maximize their portfolio's performance.

A Chinese man convicted of espionage and allegedly receiving more than 1 million yuan through cryptocurrency has been sentenced to life in prison.

Donald Trump's Nov. 5 win in the United States presidential election sets the stage for more institutional cryptocurrency adoption, according to a Benchmark research note.

Detroit will become the largest city in the United States to accept cryptocurrency payments through a secure platform managed by PayPal, city officials announced. The option will become available in mid-2025, along with additional improvements to city payment services, said Treasurer Nikhil Patel.

The de facto nation of Abkhazia claims it has shut down all “large” crypto mining “farms” on its territory. The post Abkhazia Says It Has Shut Down ‘All Large Crypto Mining Farms' appeared first on Cryptonews.

Wang Moumou—a name no one had heard outside his government unit—is now infamous across China. Here was a guy who was once the perfect poster boy for a public official – hardworking, trusted, and supposedly untouchable.

The Reserve Bank of Australia has launched a consultation on Project Acacia, exploring wholesale central bank digital currency and tokenized asset markets.

A Trump administration may lead to a less restrictive SEC Chair and more transparent crypto regulations.

The California Department of Financial Protection and Innovation (DFPI) has fully revoked the license of the bankrupt crypto lender BlockFi nearly two years after the company declared bankruptcy.

Dan Gallagher, Robinhood's chief legal officer and a former SEC commissioner, is reportedly the leading candidate to replace SEC Chair Gary Gensler in the incoming Trump administration.