Hong Kong’s financial regulators have decided to retain the grace period for crypto firms despite the city grappling with major fraud scandals involving crypto exchange platforms JPEX and Hounax in recent weeks, local media reported on Nov. 27. The grace period allows crypto firms to continue operating in Hong Kong without a license until June […]
The post Hong Kong to retain grace period for crypto firms despite recent scandals appeared first on CryptoSlate.

Terra’s failed algorithmic stablecoin USTC topped CryptoSlate’s daily biggest gainers list on Nov. 27; the token’s value shot up over 150% in the last day and was up 39.9% over 24 hours at press time. The digital asset rose to $0.07581 during the reporting period, its highest level since May 2022, when the industry was […]
The post Terra’s USTC stages remarkable rally with 150% surge over 24 hours appeared first on CryptoSlate.

Inferno Drainer, a crypto wallet-draining kit known for its widespread involvement in cryptocurrency scams, announced on Nov. 27 that it is shutting down its operations. The kit has been responsible for phishing schemes that resulted in the theft of over $80 million in cryptocurrencies, with thousands of victims. Inferno Drainer gained notoriety after the shutdown […]
The post Crypto phishing kit Inferno Drainer shuts down after enabling over $80M in scams appeared first on CryptoSlate.

Quick Take According to CNBC analyst Carl Quintanilla, a staggering $9.8 billion was spent on Black Friday, reflecting a 7.5% increment from the previous year, suggesting robust consumer behavior. However, a source of concern lies in a parallel trend: many of these purchases appear to be financed through personal debt. Experian reports that the average […]
The post Despite record sales, Black Friday underscores Americans’ reliance on debt and credit appeared first on CryptoSlate.

BlockFi has reached an agreement in principle with Vrai Nom Investment in its complex bankruptcy proceedings, potentially marking a pivotal moment in the crypto lending firm’s efforts to navigate its financial challenges. BlockFi has been granted an adjournment on related hearings until Dec. 19. As BlockFi emerges from the shadows of its November 2022 bankruptcy […]
The post BlockFi secures key $21M agreement with Vrai Nom amid turbulent bankruptcy appeared first on CryptoSlate.