CryptoBlog n.2270
Prager Metis, the international accounting firm, settled with the SEC for $745k for alleged negligence-based fraud in its inaccurate audit of FTX before the November 2022 collapse. Between 2017 and 2020, Prager Metis violated auditor independence rules, leading to an additional $1.2m in penalties and pre-judgment interest. Prager must limit new business and retain a compliance consultant, as ordered by the SEC's Enforcement Division to enhance investor protection.
CryptoBlog n.2269
DeFi Technologies, a Canadian crypto firm, is preparing for a Nasdaq listing after filing a Form 40-F with the SEC. The company holds Bitcoin, Solana, and CORE, with 2024 profits of $105m, aiming to attract more investors through the uplisting.
CryptoBlog n.2268
💰 Bitcoin set for rally after Federal Reserve rate cut, Standard Chartered says Bitcoin and the broader digital asset market are poised for a sustained boost following the U.S. Federal Reserve’s recent decision to cut interest rates by 50 basis points, according to Standard Chartered's Geoff Kendrick. The bank's head of forex and digital assets research suggested that macroeconomic factors will drive digital asset prices higher, irrespective of the outcome of the upcoming U.S. presidential election in November.
CryptoBlog n.2267
🟠 Binance reiterates assertion it never owned or controlled WazirX amid ongoing $230 million hack fallout Crypto exchange giant Binance reiterated its claim that it does not own, control or operate WazirX in any way and accused a director of its parent company of making “misleading statements” to the contrary on Tuesday. WazirX suffered an exploit resulting in the unauthorized transfer of over $230 million worth of crypto assets on July 18. The exploit targeted the exchange’s multisig wallet on the Ethereum network, potentially resulting from a private key compromise, and drained the funds.