Here are the latest updates from the crypto world
Bitget, a cryptocurrency exchange, has received authorization to provide Bitcoin-related services in El Salvador. As announced on December 16, Bitget has obtained a Bitcoin Service Provider (BSP) license from the Central Reserve Bank of El Salvador. This license permits Bitget to provide various Bitcoin-related services, including fiat currency exchanges, payment services, and secure custody solutions for users within the country.
The exchange is pending additional regulatory approval for a digital asset service provider license from El Salvador’s National Commission of Digital Assets. This license will enable Bitget to provide trading services for digital assets other than Bitcoin.
Latin America has great potential as a center for cryptocurrency innovation, with El Salvador leading the way by adopting Bitcoin as a legal tender. [...] With the world's growing interest in crypto, we view El Salvador as a key to unlocking the potential of cryptocurrencies,” stated Min Lin, chief business officer at Bitget.
Debtors for the now-defunct cryptocurrency exchange FTX have revealed that a reorganization plan, facilitating customer repayments, will commence on January 3.
In a notice dated December 16, FTX stated that it had established a timeline for the initial distribution of funds to the exchange’s users, over two years after the firm filed for Chapter 11 bankruptcy protection.
According to the FTX debtors, the first group of claim holders can expect repayments within 60 days from January 3, 2025, subject to certain conditions. The debtors noted that crypto firms BitGo and Kraken would help distribute recoveries to FTX users.
Other groups of customers awaiting repayments “will be announced in due course,” as per the exchange. “We are well positioned to start executing the distribution of recoveries back to all customers and creditors, and encourage customers to complete the necessary steps to begin receiving distributions promptly,” said FTX CEO John J. Ray III.
On December 16, Masayoshi Son, the CEO of Softbank Group, a Japanese investment holdings firm, declared that his company would invest a minimum of $100 billion in the United States to develop artificial intelligence infrastructure.
The announcement took place at President-elect Donald Trump’s Mar-a-Lago resort in Palm Beach, Florida. Trump mentioned that this collaboration would generate 100,000 jobs centered on AI, although specific details were not available at the time of this article's publication.
During the announcement, Son and Trump shared some lighthearted banter, with Trump humorously urging to double the initial investment. Son, laughing, commended Trump as a “great negotiator” and vowed to “try and make it happen.”