Crypto Chronicle with NewsCrypto
Welcome back, crypto lovers! We're excited to bring you another issue of the Crypto Chronicle series.
Just like a trusty GPS guides you to your destination, our newsletter will help guide you through the twists and turns of the crypto market.
So fasten your seatbelts and get ready for a wild ride.
Here’s what we got on the menu today:
1. Hong Kong, a fresh crypto country
2. SBF charged with another crime
3. Funny Meme
Hong Kong is inching closer to becoming a crypto capital and is sparing no efforts to make it happen. To assist the digital asset sector with financing, the regulators in the region are all set to mediate a meeting between crypto firms and bankers. It is aimed at facilitating "direct dialog" between them and sharing "practical experiences and perspectives" in opening and maintaining bank accounts. The Securities and Futures Commission and the Hong Kong Monetary Authority are hosting this session on April 28.
China seems to be on board with Hong Kong's vision for a crypto hub, and officials from China's Liaison Office have been "friendly frequent guests" at Hong Kong's crypto gatherings. Moreover, they are keenly monitoring the sector's developments and progress.
The report also stated that the recent collapse of several U.S. crypto-friendly banks made it difficult for some companies to access banking-related services. It's like trying to build a sandcastle while the waves keep washing it away. But now China's state-owned lenders are showing interest, which is like having Aquaman help you build that sandcastle."
Despite calling for a crypto crackdown on trading in 2021, Chinese officials have been taking a keen interest in the crypto sector's progress.
Hong Kong regulators are "maintaining dialog with stakeholders," but they did not divulge any additional information. Christopher Hui, the Secretary for Financial Services and the Treasury, re-emphasized Hong Kong's position as a "leading hub" for Web3 in Asia and beyond. He said that the region attaches "great importance" to virtual assets and Web3, and Invest Hong Kong received expressions of interest from over 80 virtual asset-related companies worldwide in establishing their presence in Hong Kong by the end of last month.
2. FTX Founder Sam Bankman-Fried Charged with Bribing a Chinese Official
The never-ending SBF saga just got bigger and crazier. The FTX bankruptcy story began in November of 2022, and the unfolding drama has only gotten more intriguing. It's like a never-ending soap opera, with twists and turns that nobody saw coming.
In the latest news that has rocked the crypto world, former FTX founder Sam Bankman-Fried has been charged with bribing a Chinese official with a whopping $40 million worth of crypto. This new superseding indictment adds to the existing 12 charges that the CEO is already facing.
According to reports, the former CEO attempted to bribe a single Chinese government official, and now he's being charged with violating the anti-bribery provision of the Foreign Corrupt Practices Act. In a letter to the judge, the charges against the former CEO continue to pile up.
It seems like the FTX founder's legal troubles are far from over, as he has not yet been arraigned on five of the 13 charges that he's facing. The pre-trial conference on March 30 is sure to be an interesting one.
3. Funny meme