Crypto and Finance News Roundup: BC.Game Legitimacy, Durov Hearing, Choke Point Probe, Stablecoin Concerns, and eToro IPO Plans
A flurry of news in the cryptocurrency and finance sectors this past day has kept investors and industry stakeholders on edge. From investigations into potential market manipulation to legal proceedings and IPO plans, the landscape continues to evolve rapidly. Let’s delve into the key developments.
BC.Game’s Legitimacy Under Scrutiny
A comprehensive guide explores the legitimacy of BC.Game, a leading online sports betting platform, which utilizes cryptocurrencies for transactions. Launched in 2017, BC.Game gained notoriety for its support of crypto, and recently saw ownership transfer from BlockDance B.V. to Small House B.V. The platform holds a Curacao eGaming License, certified in 2021.
Telegram Founder Questioned in Paris
Telegram founder Pavel Durov was questioned for the first time in a Paris court. Durov stated that he trusts the French justice system but declined further comment on the legal proceedings.
White House Crypto Czar Investigates Operation Choke Point 2.0
David Sacks, the White House Crypto and AI Czar, has announced an investigation into Operation Choke Point 2.0. The program, according to industry insiders, has reportedly hampered crypto businesses, hindering innovation and disrupting financial operations. Sacks has emphasized the necessity for a thorough review of these claims.
FSOC Discusses Stablecoin Threat
The Financial Services Oversight Council (FSOC) in its annual report highlighted the potential threat of stablecoins to financial stability. The report stressed the absence of robust risk management standards, potentially exposing these assets to significant market risks. FSOC emphasized that these risks directly threaten the stability of the broader financial system.
eToro Eyes $3.5B IPO
eToro, a popular social trading platform, is aiming for a $3.5 billion valuation in its planned IPO with Goldman Sachs. The deal follows eToro’s compliance agreements with the SEC, limiting U.S. crypto trading and a $1.5 million fine for previous breaches. The IPO is slated for the mid-2025 timeframe.
