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XTL Biopharmaceuticals Ltd. reported on Friday that its wholly owned subsidiary, The Social Proxy Ltd., has filed a formal application for insolvency proceedings with an Israeli court, Investing.com reported. The announcement was made in a press release statement included in a filing with the U.S. Securities and Exchange Commission. The company stated that the application for an "Order for the Opening of Proceedings" was submitted in accordance with the Israeli Insolvency and Economic Rehabilitation Law, 2018.
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The Central Bank (CBI) of Iran bought $507 million of Tether's USDT stablecoin with the primary purpose of manipulating foreign exchange markets and bolstering the value of the rial, which recently traded at 1.4 million for one U.S. dollar, according to blockchain analytics firm Elliptic, CoinDesk reported. Elliptic said it uncovered the purchases through two leaked documents that allowed researchers to map out the central bank’s wallet infrastructure, "revealing a systematic accumulation of USDT totaling at least half a billion dollars,” a report by Tom Robinson said.
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The biggest harbinger that things were about to fall apart in Iran didn’t come from the thwarted anger of the country’s opposition or the frustrated hopes of young people hungry for more personal freedom. It came from the collapse of a bank, the Wall Street Journal reported. Late last year, Ayandeh Bank, run by regime cronies and saddled with nearly $5 billion in losses on a pile of bad loans, went bust. The government folded the carcass into a state bank and printed a massive amount of money to try to paper over all the red ink. That buried the problem but didn’t solve it.
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The U.S. will put a 25% tariff on any country that does business with Iran, President Trump said on Monday, raising pressure on the Middle Eastern nation after days of protests against the government, the Wall Street Journal reported. “Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America,” Trump posted on Truth Social.
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Dubai’s financial regulator banned privacy tokens from use on exchanges across the Dubai International Financial Centre (DIFC), citing anti-money laundering (AML) and sanctions compliance risks, as part of a sweeping update to its crypto rules that also shifts token approval responsibility onto companies and tightens the definition of stablecoins, CoinDesk.com reported. The updated Crypto Token Regulatory Framework, which comes into force Jan.