Topic: #business
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SBI Holdings acquires Bitbank for $289M, creating Japan's largest crypto exchange
SBI Holdings announced Thursday it will acquire Tokyo-based crypto exchange Bitbank for roughly $289 million, pending regulatory approval. The combined firm would hold $6.8 billion in assets under custody and serve 2.92 million accounts.
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CME sues CFTC over Bitcoin perpetual futures approval
CME Group plans legal action against the CFTC over its decision to approve crypto perpetual futures, arguing the products are swaps under Dodd-Frank and should face stricter oversight. Outgoing CEO Terry Duffy announced the lawsuit Wednesday.
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Strategy Expands Cash Reserves to $1.1B, Buys 1,587 Bitcoin
Strategy increased its USD Reserve to $1.1 billion and purchased 1,587 Bitcoin for $100 million, signaling a second consecutive week of cash accumulation and Bitcoin buying after dipping into reserves last month.
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Gary Gensler Backs States in Prediction Market Regulation Fight
The former SEC and CFTC chair filed an amicus brief with the Sixth Circuit arguing Congress never intended to give the CFTC exclusive authority over sports betting, siding with states against the agency he once led.
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FCA Warns Premier League Clubs Over Unlicensed Crypto Sponsorships
The UK Financial Conduct Authority has sent letters to Premier League clubs warning that crypto sponsorship partnerships with unlicensed firms could breach financial services laws and expose fans to unregulated trading platforms.
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Strategy's Bitcoin Sale Unlikely to Trigger Crypto Selloff Cascade
Crypto analysts say Strategy's recent sale of 32 BTC doesn't signal a wave of similar moves by other digital asset treasury firms, pointing instead to each company's distinct financial position as the determining factor.
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Trump Meme Coin Organizer Plans World Cup Trip for Top 19 Holders
Bill Zanker, a longtime Trump associate managing the president's meme coin, announced a permanent Trump Coin Club offering top holders exclusive quarterly events. The inaugural gathering will send the top 19 holders to the FIFA World Cup finals next month.
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Coinbase Launches Direct Indian Rupee Rails After Regulatory Clearance
Coinbase has returned to India with direct INR banking infrastructure, allowing traders to deposit and withdraw rupees without intermediary conversions. The move marks a reversal from the exchange's 2022 exit following informal RBI pressure.
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House subcommittee modernizes Bank Secrecy Act amid crypto surge
A House Financial Services subcommittee heard testimony Thursday on scaling back the Bank Secrecy Act, with crypto firms and policy experts divided over whether to reform or repeal the 1970 anti-money-laundering law as threats escalate.