Tag: Crypto
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U.K. Police Faced With $1.5B Crypto Fraud “Epidemic!”
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Over the past year, cryptocurrency fraud has increased by 32% in the U.K. This is part of a larger “fraud epidemic” that began during the pandemic as people moved their financial activities online, according to a Financial Times report. Crypto-related losses totaled £226 million (or $272 million) from October 2021…
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MEP Kaili Suspended From The Party Over A Money Laundering & Corruption Scandal!
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European Parliament Vice President Eva Kaili, a key figure in ongoing efforts to regulate cryptocurrencies in Europe, has been suspended by her party. It comes in response to reports that she and others are allegedly involved in a wide-ranging corruption scandal involving illegal lobbying for Qatar.
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Crypto Lender BlockFi Is Insolvent
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Following the collapse of the cryptocurrency exchange FTX, the U.S. bank BlockFi, which specializes in virtual currency, has now also filed for bankruptcy. More broadly, the BlockFi business has been on a knife-edge since the spring, when the collapse of several major crypto companies sent the market into a panic…
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Coinbase Holds $39 Billion Worth Of BTC!
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As major crypto exchanges are stepping up their efforts to assure customers and investors of their stability, Brian Armstrong, the CEO of Coinbase, has revealed that his company holds crypto reserves that include about 2 million BTC worth about $39.9 billion. “We hold ~2M BTC. ~$39.9B worth as of 9/30,”…
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Crypto Exchange Bitpanda Receives A BaFin License
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The German Federal Financial Supervisory Authority BaFin grants Bitpanda the “license for custody and proprietary trading of crypto assets”. The company, which is registered as Bitpanda Asset Management GmbH in Vienna, has thus officially received a license from the German securities regulator for the custody and proprietary trading of crypto…
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Crypto Brokerage Genesis Needs $500 Million In Funding!
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Broker Genesis is struggling to raise fresh money for its credit division and is warning potential investors that the company may have to file for bankruptcy if its efforts fail, according to people familiar with the matter. “We have no plans to file bankruptcy imminently,” a Genesis spokesperson said in…
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FBI Seeks Extradition Of Sam Bankman-Fried
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The Federal Bureau of Investigation (FBI) is demanding the extradition of Sam Bankman-Fried to the United States. Together with Bahamian authorities, the US Central Security Agency is discussing the possibility of bringing FTX founder Sam Bankman-Fried to the United States for questioning. This is reported by the Daily Mail, citing…
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BlockFi Facing Insolvency
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After the bankruptcy of FTX, BlockFi is also facing bankruptcy. Payouts were already stopped last week. The bankruptcy of crypto exchange FTX has sent shockwaves throughout the crypto industry and put many digital currencies under pressure. The industry is now concerned that other crypto exchanges could suffer the same fate.…
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Fidor Bank Will Be Liquidated!
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Based on exclusive information from Finanz-Szene, Fidor Bank is to be liquidated by mid-2024. Six years after the takeover, the major French bank BPCE, which holds the shares in Fidor, is thus drawing a line under a years-long strategic adventure with accumulated losses in the mid-three-digit million range. Operationally, Fidor…
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Ukrainian Aid Money May Be Gone In Bankruptcy Of Crypto Exchange FTX!
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In March, the Ukrainian government under Volodymyr Selenskyj proudly presented a new way of increasing donations: The crypto exchange FTX was supposed to make more out of 100 million – now FTX is bankrupt. The suspicion: vast sums of aid money are gone.