• Ripple Partners with Montenegro Central Bank
• Bitmain Facing a $3.6M Fine
• Head of Exchange Vishal Gupta Leaving Coinbase
Ripple Partners with Montenegro Central Bank
The Central Bank of Montenegro (CBCG) will collaborate with the American blockchain provider Ripple to develop a strategy and pilot a program to launch the country’s central bank digital currency (CBDC) or a national stablecoin. The project will go through several stages, including identifying the practical application of a digital currency or national stablecoin and the design to simulate its circulation and use under controlled conditions.
Bitmain Facing a $3.6M Fine
Bitcoin mining hardware maker Bitmain is facing a fine of $3.63 million for unpaid taxes in Beijing, China, according to a report citing a notice from the State Administration of Taxation Beijing. Per the notice, Bitmain was contacted in August last year about the issue but allegedly failed to withhold individual income tax amounting to about $2.42 million.
Head of Exchange Vishal Gupta Leaving Coinbase
Head of Exchange Vishal Gupta is leaving the major crypto exchange Coinbase. Bloomberg reported, citing a person familiar with the matter, that he is departing to work on a “new project.” Gupta worked at Coinbase for nearly three years, according to his LinkedIn page. Before Coinbase, he was at Circle, in charge of launching the USD Coin (USDC), and he spent eight years at Goldman Sachs as vice president and head of US-listed options.
BitMEX Launches New PnL Feature
BitMEX has launched a new profit and loss (PnL) realization feature that allows cross-margining users to automatically realize their PnL for open positions, with the same margin currency, every 10 minutes said an announcement. “Put simply, this means cross-margining users can now free up capital from their winning positions, which they can then deploy when trading multiple contracts,” it added.
FTX Paid More Than $30 Million In Monthly Fees To Lawyers And Advisers In February
Bankrupt crypto exchange FTX paid more than $30 million in monthly fees to lawyers and advisers in February, according to new compensation reports filed in bankruptcy court. Lawyers