Cryptocurrency Live News & Updates : SEC Greenlights Grayscale's Multi-Crypto ETF
The SEC has approved Grayscale's Digital Large Cap Fund to transition into a spot crypto ETF, managing $755 million in assets and including BTC, ETH, SOL, XRP, and ADA. In a significant move for the cryptocurrency market, the SEC has approved the conversion of Grayscale's Digital Large Cap Fund (GDLC) into a spot ETF, allowing investors to access major digital assets like Bitcoin, Ethereum, Solana, XRP, and Cardano in a single product. Meanwhile, Bitwise awaits a decision on its own ETF application for the Bitwise 10 Crypto Index Fund. On the global stage, Pakistan is looking to integrate its national Bitcoin reserves into decentralized finance (DeFi) protocols, aiming to lead in digital asset adoption among Global South countries. Federal Reserve Chairman Jerome Powell has also emphasized the need for a stablecoin framework, indicating ongoing developments in regulatory measures. Amidst these advancements, Bitcoin's price has fluctuated, recently dropping below $106,000 after a record monthly close, reflecting broader market sentiments influenced by U.S. tech stock performance. As the crypto landscape evolves, these developments highlight the increasing intersection of regulation, investment opportunities, and market dynamics. Show more
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Time of India
5 hours ago
- Time of India
Crumbling to colourful: 2,072 Ashiana flats set for makeover
1 2 3 Panchkula: The long-awaited renovation of 2,072 Ashiana flats in Panchkula is finally set to begin, bringing hope to thousands of residents who have endured poor living conditions for years. Constructed by HSVP to rehabilitate below poverty line (BPL) families in Panchkula, the buildings housing the flats, over time, fell into a dilapidated state, with crumbling structures, damaged boundary walls, and neglected parks and footpaths. HSVP has now allotted the renovation work, while the municipal corporation (MC) will carry out external civic improvements to restore the housing complexes. According to the plan, HSVP has sanctioned two major renovation projects. The first, valued at Rs 1.88 crore, will cover 960 flats in Sector 20 and 256 flats in Abhaypur village. The second, worth nearly Rs 1.75 crore, includes 224 flats in Pocket A and 312 flats in Pocket B of Sector 26, along with 320 flats in Sector 28. As part of the renovation, outer balconies and walls will be painted in attractive colours to enhance the visual appeal of the housing complexes. In addition to structural upgrades, the MC will soon begin re-carpeting internal roads, cleaning streets, and beautifying parks and footpaths within the housing societies. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Benefits of Trading Bitcoin CFDs IC Markets Learn More Undo Four separate tenders are being issued for these civic works, with instructions for immediate allotment to ensure timely execution. Mayor Kulbhushan Goyal confirmed the development, stating that he has been advocating for improvements in the Ashiana Flats for several years in response to repeated requests from residents. He said that after multiple discussions with authorities and the passage of a proposal in the MC, the project has finally received the green light from HSVP. The renovation is expected to significantly improve living conditions for thousands of families. During an inspection of the planned work on Saturday, mayor Goyal instructed officials to ensure the use of high-quality materials so that residents do not face issues in the coming years. Residents have requested that the work be completed before Diwali.
Time of India
6 hours ago
- Time of India
Cryptocurrency Live News & Updates : Singapore Fines Firms in $2.2B Money Laundering Case
05 Jul 2025 | 11:35:11 PM IST Nine financial institutions, including UBS and Citigroup, were penalized a total of S$27.5 million ($21.5 million) for their roles in Singapore's largest money laundering scandal, which involved the Fujian gang and led to significant asset seizures. In recent developments, Singapore's Monetary Authority has concluded a two-year investigation into a massive $2.2 billion money laundering case, resulting in fines for nine financial firms, including UBS and Citigroup. This scandal, linked to the Fujian gang, saw authorities seize luxury properties, cash, and cryptocurrency. Meanwhile, Bitcoin Cash has experienced a notable rally, rising 75% over the past 90 days, driven by whale activity and bullish technical signals, despite low network usage. Ethereum is currently in a consolidation phase, trading around $2,500, but shows signs of accumulation, indicating potential for a bullish breakout. The ongoing trend of whale accumulation and reduced exchange balances suggests a shift towards long-term holding among investors. Additionally, the U.S. stock market's performance, particularly the Nasdaq's outperformance, reflects a narrative of U.S. exceptionalism, which may positively influence Bitcoin's value. As the cryptocurrency landscape evolves, these developments highlight the interplay between regulatory actions, market dynamics, and investor behavior. Show more
Mint
12 hours ago
- Mint
Friends Accused of Trading on Data for Edgar Face Widening Probe
(Bloomberg) -- The FBI had to move fast when agents learned that two men who were the focus on an insider trading investigation were about to get on a flight to Hong Kong. Before they could board the early morning June 28 flight, federal agents arrested Justin Chen, 31, and Jun Zhen, 29. Prosecutors say they pocketed at least $1 million by taking information they learned from their job at a private company that formats materials before they are submitted to the Securities and Exchange Commission's Edgar filing system. At a pair of court hearings, prosecutors said that they were aware of at least four companies where the two men allegedly made trades based on non-public information. But officials were investigating whether Chen and Zhen traded in at least six more companies when they were arrested, hours before getting on the Cathay Pacific flight to Hong Kong. 'We probably wouldn't have arrested the defendants at this point as the investigation is ongoing,' Nicholas Axelrod, an assistant US attorney, said at one of the hearings. 'If not for that travel.' The arrests spotlight ongoing problems with how confidential information can be obtained by insiders before it's publicly released on the Edgar database, the SEC's online portal for more than 30 years. In 2021, the SEC brought enforcement cases against several people who they accused of hacking into third-party companies that dealt with Edgar system. Chen was an Edgar assistant manager and Zhen was a typeset assistant manager at New York-based Companies like EdgarAgents help prepare company filings before they are sent to the Edgar system and distributed to the public. Between March and June 2025, prosecutors say the two obtained material, nonpublic information ahead of announcements like mergers 'that resulted in significant increases in the share price of each company's stock.' 'This was an incredibly brazen scheme,'Axelrod told a federal magistrate in Brooklyn, New York, on Monday. 'They traded on the information and they traded aggressively.' Lawyers for both men declined to comment on the charges. Neither man has entered a plea at this point in the proceedings. Chen, who prosecutors say made $100,000 a year, had worked at the company since 2020 and had been working at firms that handled Edgar data since 2012, according to his LinkedIn profile. His sister also worked at the company. Prosecutors say that the two men had accessed proposed filings on at least four companies before the information was public; Ondas Holdings Inc., Purple Innovation Inc., Signing Day Sports Inc. and SigmaTron International Inc. In one example, prosecutors say Chen and Zhen both bought tens of thousands of shares of Ondas Holdings just before the company released an SEC 8-K form disclosing that it had entered into a strategic partnership with Palantir, a multibillion-provider of artificial intelligence service. They made about $36,749 in the 24-hour period before and after the announcement. EdgarAgents Chief Executive Officer Stephen Bonventre said the company was cooperating with the US investigation and that both men were no longer with the company. 'The alleged activities run completely counter to our company values and the integrity with which we've built our business,' he said in a statement. The SEC declined to comment on the case, though Axelrod said in court that the agency told prosecutors they detected suspicious trading in other companies, which is now part of the government's ongoing criminal investigation. At the two court hearings following their arrests, Axelrod portrayed Chen and Zhen as two men on the brink of fleeing the country who shouldn't be given bail while the case proceeds. He pointed to a text Chen sent Zhen: 'We gotta get out quick.' During the hearing on Monday, however, Magistrate Judge Peggy Kuo was skeptical of Axelrod's argument that Chen's 'we gotta get out quick' message meant the two men were going to flee. Kuo said that Chen may have meant he needed to 'get out' of his trading position rather than getting out of the US. 'I read that as in a flight context,' Axelrod said. 'It's the government's concern the defendant could flee.' He cited another text from Chen to Zhen as evidence they had been planning to escape. 'Give me 2 months to get as much as possible,' the text read, according to Axelrod. Chen's lawyer, Charles Millioen, sought to have his client released, arguing that since his passport had been taken, he couldn't leave the US anyway. At an initial hearing last week, Zhen's lawyer, Chris Wright, also said his client wasn't a flight risk. 'He has every reason to stay in the United States,' Wright said. 'His family is here. He's not a citizen of China, he is an American citizen.' Chen's mother wept on Monday as her son sat stoically listening to the government's allegations. She and Chen's sister, who called in for the bail hearing, agreed to post $10,000 in cash to win his release. Kuo said that Chen could be released on a $1 million bond, guaranteed by his mother and sister. 'Hopefully, that is enough to keep Mr. Chen in the district,' Kuo said. Chen was released Tuesday. Zhen, whose bail was set at $500,000, remains in custody as of Saturday morning, according to federal Bureau of Prisons records. More stories like this are available on
