• HSBC customers in Hong Kong can now trade Bitcoin and Ethereum futures ETFs.
• Supreme Court rules in favor of Coinbase to move user lawsuit into arbitration.
• Media giants appeal court decision to keep FTX user names redacted.
HSBC Enables Bitcoin and Ethereum Trading
HSBC’s Hong Kong customers can now trade Bitcoin (BTC) and Ethereum (ETH) futures exchange-traded funds (ETFs). This follows the recent surge of BTC, which has broken $31k as it continues to shake off recent slumps.
Supreme Court Rules in Favor of Coinbase
The U.S. Supreme Court recently issued an order to move a user lawsuit against Coinbase into arbitration, ruling in favor of the cryptocurrency exchange. The case was initially filed by a customer who wanted the company to reimburse him for losses stemming from a security breach that occurred on its platform in 2020.
FTX Files Complaint for Funds
Cryptocurrency derivatives exchange FTX has filed a complaint in order to retrieve $700 million from “super-networker” Bankman-Fried, who is being courted for his connections within the crypto industry. Stably also paused withdrawals and minting after Prime Trust halted deposits while awaiting regulatory approval from FinCEN and other authorities.
Media Giants Appeal Court Decision
Four media giants – Dow Jones & Company, Bloomberg, The New York Times, and the Financial Times – recently filed an appeal on June 23 to overturn a bankruptcy court’s decision to redact the names of FTX users permanently. In typical bankruptcy proceedings, the list of creditors is generally made public; however, FTX lawyers and users have advocated keeping their list confidential due to potential risks associated with identity theft or scams if disclosed publicly.
Overall, major developments are taking place within the cryptocurrency industry as banking giant HSBC enables trading of Bitcoin and Ethereum ETFs while media giants appeal court decisions regarding confidentiality protocols at cryptocurrency exchanges such as FTX or Coinbase facing legal battles with its former customers over security breaches on its platform.