Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
SafeMoon executive team charged with multiple fraud counts, arrests made. PayPal has received approval from the Financial Conduct Authority (FCA) to offer crypto services in the United Kingdom. Meanwhile, the ticker for Invesco and Galaxy Digital’s spot Bitcoin (BTC) exchange-traded fund (ETF) has appeared on the DTCC’s website.
SafeMoon executive team charged with multiple fraud counts, arrests made
The U.S. SEC has charged SafeMoon and three of its executives with fraud and unregistered securities sales in connection with its SafeMoon token.
According to unsealed documents released on Nov. 1, SafeMoon creator Kyle Nagy, CEO John Karony and chief technology officer Thomas Smith withdrew assets worth $200 million from the project and misappropriated investor funds.
The Justice Department’s announcement indicates that, as of the time of publishing, both Karony and Smith have been arrested while Nagy remains at large.
PayPal scores UK crypto license after brief local Bitcoin buy halt
Global payment giant PayPal has received approval from the Financial Conduct Authority (FCA) to offer crypto services in the United Kingdom.
According to official FCA data, PayPal has been registered to offer “certain crypto asset activities” in the U.K. since Oct. 31, 2023.
According to the register, PayPal has requirements or restrictions placed on the financial services activities that it can operate.
“This includes, but is not limited to, ceasing on-boarding new customers and restricting existing customers to hold and sell functionality,” the information on the FCA register reads.
“The firm cannot expand its current offering in crypto assets,” the register notes, adding that it’s “including, but not limited” to crypto exchange services, participation in initial coin offerings, staking, peer-to-peer exchange and decentralized finance activities such as lending and borrowing.
Invesco and Galaxy’s spot Bitcoin ETF pops up on DTCC site
BTCO, the ticker for the Invesco Galaxy Bitcoin ETF, has appeared on the Depository Trust and Clearing Corporation’s (DTCC) website.
The ETF was added to the list sometime in the last six days as the web archiver WayBack Machine shows the BTCO listing wasn’t present on Oct. 25.
The appearance of the ticker marks a step forward in the application process for the joint fund from Invesco and Galaxy Digital, but it’s not a guarantee of its future approval.
It’s standard practice for the DTCC to add securities to the NSCC security eligibility file “in preparation for the launch of a new ETF to the market,” a DTCC spokesperson said.
“Appearing on the list is not indicative of an outcome for any outstanding regulatory or other approval processes,” they added.
The application for Invesco and Galaxy’s joint spot Bitcoin ETF was reactivated with the Securities and Exchange Commission on June 21 amid a flurry of similar ETF filings including one from investment giant BlackRock.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
