Home » The Fintech Files: Royal Mint NFT still a go, JPMorgan hires from Celsius

The Fintech Files: Royal Mint NFT still a go, JPMorgan hires from Celsius

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When Liz Truss resigned as prime minister last week, crypto firms feared the possibility further weakened UK plans to become a so-called “crypto hub”. That ambition was announced half a year ago. It feels like a lifetime.

“We spent more than three years in the Treasury educating proper MPs, and now we are back to square one,” said Ian Taylor, head of crypto trading group CryptoUK. financial news After Truss announced her exit.

According to Taylor, one of the potential “silver linings” was the potential successor to Rishi Sunak, who originally announced the cryptocurrency hub scheme.Ok, Cryptophan fulfilled their wishes.

More than just a token gesture

Cryptocurrency may not be the top of Sunak’s bloated intray, but FN We can confirm his plans to jump on the NFT bandwagon, a key part of the “Cryptocurrency Hub” propaganda blitz. survived a chaotic summer We have all endured since Westminster.

The Royal Mint, the official maker of the UK coin owned by the Treasury, said it was working on the token as required by the Freedom of Information Act.

He said the project was “still in the development stage” but “has not started yet.”

However, plans are several months behind schedule, with the Treasury Department initially promising the project would begin in the summer, with costs not disclosed.

Given that NFT revenue plummeted to $3.4 billion last quarter (down from $12.5 billion in the first three months of the year), Sunak must move on.

The Treasury Department did not respond to a request for comment.

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Fidelity Acquires Devalued Crypto Talent Amid Industry Downturn

“You hired Who from Where? ‘

Hired by JP Morgan Former Celsius Network lobbyist Aaron Iovine said: As head of the new crypto policy. yes, that Celsius network.

A JPMorgan spokesperson said on Oct. 19 that Iovine will join the bank as executive director of digital asset regulatory policy.

He was the policy director for Celsius from February to September of this year. During this period, lenders have frozen client assets, filed for bankruptcy protection, and been embroiled in legal battles over creditor claims.

Of course, Iovine’s position at Celsius was not at the executive level. He wasn’t around the table making decisions about how the company should operate, said a source familiar with the situation. FNBut it’s a bold move for JPMorgan, whose chief executive officer is Jamie Dimon. These days, people refer to cryptocurrency tokens like Bitcoin as “decentralized Ponzi schemes.”

Prior to joining Celsius, he worked for over two years at Cross River Bank, a small community bank for fintech companies based in New Jersey. Iovine was head of policy and regulatory affairs when she left the bank.

his LinkedIn profile, Iovine said it is “focused on developing policies that foster responsible innovation while emphasizing consumer protection and regulatory oversight,” addressing issues related to cryptographic licensing, anti-money laundering requirements, and cybersecurity standards. said to have been working on

favorite stories on the web

Last week, FTX boss Sam Bankman-Fried published his definitive thoughts on what cryptocurrency regulation should look like. However, following an angry backlash from the Crypto Brothers on Twitter, He now plans to edit them again. report block works.

The Securities and Exchange Commission has cracked down on cryptocurrencies this year. This is heavily influenced by protests within the industry itself. However, for outside investors, it made it more attractive, report bloomberg.

As a developed country, we know our currency is in trouble when investors start hedging with Bitcoin.Former Prime Minister Liz Truss announced a short-term financial plan in September, report Reuters.

And finally…

Binance Closes To Finding Out Who Orchestrated BNB Blockchain Hack, CEO Changpeng Zhao told CNBC October 24th.

The company intervened and suspended operations to contain the damage. This means that about $100 million was actually stolen.

“At this particular moment, law enforcement gave us some hints as to who they thought they were. So we’re really narrowing it down,” he said. .

But a massive security breach didn’t stop Binance’s security chiefs from taking sarcasm at critics.

In response to a LinkedIn post criticizing Binance’s security record, Tigran Gambaryan said: “No other exchange does more than this.” To find solutions for crypto hacks.

Gambalyan, a former agent of the Internal Revenue Service, clearly read the note, but not the room.

To contact the author of this story with feedback or news, email Alex Daniel

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