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Tag: Crypto

Disgraced crypto tycoon Bankman-Fried jailed 25-year
News Tech

FTX co-founder convicted, faces 115 years in prison

Co-founder and former CEO of trading company Alameda Research and cryptocurrency exchange FTX, Sam Bankman-Fried, was convicted on all seven counts of fraud and money laundering. According to a statement from the U.S. attorney’s office in the Southern District of New York, the defendant is “charged with a wide-ranging scheme to misappropriate billions of dollars […]

European Central Bank launches digital euro
News Tech

European Central Bank launches digital euro

The European Central Bank on Wednesday, made another advancement towards the introduction of a digital form of the euro that would enable electronic payments across the 20 countries. On November 1, the ECB announced that it would begin a two-year “preparation phase” for the digital euro, during which it would clarify rules, select its partners […]

Canada fines Binance $4.38m for money laundering
News Tech

Binance halts new sign ups in UK

The cryptocurrency exchange Binance said on Monday that it will stop taking on new signups in the UK. The change complies with a new legislation that limits countrywide promotions from foreign digital asset enterprises. According to a message on Binance’s website, new users in the UK won’t be allowed to register on the platform after […]

Ferrari approves crypto payments
News Tech

Ferrari approves crypto payments

Following requests from its wealthy clientele, Ferrari has begun accepting cryptocurrency payments for its high-end sports cars in the United States and will soon expand the payment option to Europe. Since Bitcoin and other cryptocurrencies are too volatile for use in trade, the vast majority of blue-chip firms have shied away from them. The use […]

News Tech

Binance exits Russia amid war with Ukraine

Binance announced on Wednesday that it will sell its operations in Russia to the recently created exchange CommEX. The crypto platform became the latest company to leave Moscow since Russia started its conflict with Ukraine. The largest cryptocurrency exchange in the world, Binance, withheld the deal’s financial information. According to the corporation, neither a revenue […]

Business email hack rises by 1,760% in 2023 – Report
News Tech

Hackers hack Hong Kong based crypto company

Crypto startup Mixin, has disclosed on the social networking site X on Monday that hackers had stolen atleast $200 million from the company. The cloud service provider’s database was “attacked by hackers, resulting in the loss of some assets,” according to Mixin, which cites Hong Kong as its home on LinkedIn. The company also stated […]

Coinbase clarifies rumors of Indian operations closure
News Tech

Coinbase clarifies rumors of Indian operations closure

Coinbase has released a clarification after a rumoured report stated that Coinbase would shortly cease all operations for its Indian customers. Users of Coinbase India were apparently informed via email that all services would end on September 25 and advised to withdraw any cash still present on the exchange. “We are reaching out to inform […]

Nestcoin raises $1.9m to scale products
News Tech

Nestcoin raises $1.9m to scale products

Nestcoin, the parent company of Onboard, a digital wallet has received $1.9 million in a strategic investment round. The financing was led by Hashed Emergent, a Web2.5 fund for developers in emerging areas. Existing investors Alter Global, Magic Fund, CMT Digital, and 4DX Ventures participated. Two new investors, Adaverse and Base Ecosystem Fund, also took […]

Coinbase unveils crypto lending platforms for investors
News Tech

Coinbase unveils crypto lending platforms for investors

Cryptocurrency exchange Coinbase Global is introducing a digital asset financing platform targeted at significant institutional investors. According to a regulatory filing, Coinba has raised $57 million for its new cryptocurrency lending business. After a three-judge court concluded that the Securities and Exchange Commission erred in rejecting Grayscale’s proposed bitcoin ETF without providing a justification, the […]

MetaMask launches feature for crypto-USD conversion
News Tech

MetaMask launches feature for crypto-USD conversion

MetaMask, the largest self-custodial internet-connected wallet in the world with over 22 million users has added the option for users to convert cryptocurrencies into fiat currencies like USD. Prior to this update, only ETH, the second-largest cryptocurrency in the world, could be converted using the cash-out feature into various fiats, depending on the user’s location. […]

Patricia promises increased security after hack, illicit withdrawals
News Tech

Patricia to pay back customers’ funds with token

Embattled crypto company, Patricia has stated that the $2 million in client cash lost in a hack will be repaid to users using a newly constructed debt management token called the Patricia token. The tokens—which are the dollar equivalent of the assets of the respective customers—will be locked by a smart contract, according to Patricia’s […]