Month: January 2023
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Bulgarian Crypto Scheme Nexo Under Investigation in Over Alleged Money Laundering!
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Amid the official announcement that the Bulgarian crypto lender is under investigation, Nexo insists that it has followed AML and KYC rules. Crypto lender Nexo has become the subject of a large-scale investigation in Bulgaria as prosecutors probe possible money laundering, tax violations, computer fraud, and other crimes.
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Impressive! Five Million Dollars For An U.S. Whistleblower!
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The U.S. Securities and Exchange Commission (SEC) announced an award of more than $5 million to a whistleblower whose information led to a successful SEC enforcement action. The whistleblower provided a tip and additional information that helped SEC staff shape its investigative strategy, identify witnesses, and draft documents and information…
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A German Fintech Deal! Dock Financial Swallows Compeon!
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The two companies work in different fields. And yet they are a good fit because they have similar target groups. Compeon is the German market leader in digital loans for small and medium-sized enterprises. According to a media report by Finance Forward, Munich-based banking-as-a-service platform Dock Financial is acquiring the…
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Troubled German Real-Estate Group Adler Is Without An Auditor!
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The crisis-ridden real estate company is used to bad news. But being unable to find an auditor despite a court order is an unusually severe setback even for Adler. The auditing company KPMG refuses to audit the balance sheet of the Adler subsidiary Adler Real Estate for the year 2022.…
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Millions Of Likes Didn’t Help: Teen FinTech Ruuky Files For Bankruptcy!
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Banking for the Tiktok generation – that’s how the founders of Ruuky hoped to find a place next to N26. But now the fintech is facing bankruptcy despite its 250,000 users and more than 230.000 TitTok followers. Through the insolvency proceedings, the company now wants to preserve the jobs of…
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SEC Charges Former McDonald’s CEO With Making False Statements About His Firing!
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The U.S. Securities and Exchange Commission (SEC) charged Stephen J. Easterbrook, the former CEO of McDonald’s Corporation, with making false and misleading statements to investors about the circumstances surrounding his November 2019 dismissal. McDonald’s was also charged with deficiencies in its public disclosure of Easterbrook’s separation agreement.
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OpenAI: The Company Behind ChatGPT And Dall-E Is Valued At Over $29 Billion!
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OpenAI will be one of the most valuable U.S. startups on paper if the acquisition goes through. According to the Wall Street Journal, American tech company OpenAI is negotiating to sell shares in a takeover bid. In the process, the company is valued at around $29 billion. OpenAI is behind…
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Alibaba Shares Ultimately Rise By Double Digits: Ant Progresses In Discussions With Chinese Supervisors!
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The Chinese technology company Ant Group of billionaire Jack Ma is progressing in resolving its regulatory issues with the Chinese Banking and Insurance Regulatory Commission. The regulator allowed the group to increase the capital of its consumer finance subsidiary by 10.5 billion yuan (about €1.4 billion) shortly before the turn…
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US: Coinbase to Pay $100 Million to Settle Money-Laundering Investigation
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The largest U.S. crypto exchange Coinbase has accepted a multi-million dollar fine for allegedly being too lax in its anti-money laundering precautions in New York State. The company will pay a total of $100 million (€94 million) as part of a settlement, the New York financial regulator DFS announced yesterday.…
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Ethereum Upgrade “Shanghai” Lets DeFi Tokens Take Off!
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While Bitcoin (BTC) and Ethereum (ETH) prices are currently barely moving, the costs of liquid-staking tokens are picking up. Here are the reasons. Governance tokens from DeFi projects in the liquid staking space for Ethereum are currently seeing substantial price gains. LDO from Lido Finance has gained over 40% in…