BlockFi Closer to Refunding Clients, HK's Licensed Crypto Exchange, GLG Launches

The Daily Leo #326

Aug 3

Welcome to The Daily Leo! We pull the best articles in Finances, Crypto news and Hive/Leo into one condensed information packed space.

Be sure to follow @thedailyleo so you never miss the Daily LEO. You can also subscribe to the newsletter here Subscribe to the Daily LEO

Bankrupt Crypto Lender BlockFi Inches Closer to Refunding Clients

BlockFi’s reorganization continues to inch forward as the firm announced that its disclosure statement was conditionally approved by the U.S. bankruptcy court in New Jersey.

They said they are confident that their Plan provides the best path to expeditiously return crypto back to their clients and they are strongly urging BlockFi’s clients to vote to accept it.

BOJ makes bold shift as yen risks grow too big to ignore

The Bank of Japan's surprise decision last week to raise a cap on interest rates was partly driven by policymakers' growing worries ultra-loose monetary settings would spark a repeat of the bruising yen selloff that the economy saw last year.

Pressure from Prime Minister Fumio Kishida's government...

Bank of England set to join Fed in raising interest rates again amid high UK inflation

The Bank of England is set to raise interest rates Thursday for the 14th time in a row to a fresh 15-year high and keep the door open for further increases in the months to come as it tries to tamp down persistently high inflation.

Most economists think the U.K. central bank will increase its benchmark rate by a quarter of a percentage point…

Hong Kong debuts retail crypto trading with HashKey exchange

Hong Kong is expanding cryptocurrency trading exposure to individual investors, with at least one exchange getting the regulatory green light to offer the services.

Local digital asset firm HashKey has successfully obtained all necessary licensing to expand its business from serving professional investors to taking on retail users.

Elizabeth Warren Urges IRS to Crack Down on ‘Crypto Brokers’

Senator Elizabeth Warren and three other US Senators have called on the IRS to implement strict tax reporting rules for 'crypto brokers.'

The Senators have expressed concern over the potential loss of approximately $1.5 billion in tax revenue for the 2024 fiscal year due to lack of regulation...

Despite Name Brand NFT Deals, Nifty's Shuts Down

A social network turned Web3 creators portal that managed to work with some of the biggest names in entertainment announced that it was shutting down today.

Nifty's was backed by preeminent businessmen Mark Cuban and Joe Lubin in 2021 with a $10 million raise that included investors like Coinbase Ventures and Dapper Labs.

How Do We Add Value to Hive?

As an ecosystem, Hive is unlike any other blockchain platform out there. Hive has a unique set of dApps, communities and infrastructure that set it apart from the rest.

Find out how LeoFinance is adding value to the Hive ecosystem.

Genesis League Goals P2E Game Launches on Hive Today!

A new play-to-earn game that is sports-related has launched today on the Hive Blockchain.

Genesis league Goals (GLG) could become a favorite for football lovers. It launched in partnership with the Major League Soccer Players Association (MLSPA). Find out more...

LeoFinance is a blockchain-based social media platform for Crypto & Finance content creators. Our tokenized app allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.

Thank you for reading The Daily Leo. This post is public so feel free to share it.