Day: March 2, 2020

MoneyGram Declared $11.3 Million Ripple Cash Injection as Revenue

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A United States Securities and Exchange Commission (SEC) 8-K filing by remittance processor, MoneyGram, has revealed that Ripple has been injecting a significant amount of funds into the business since its investment in the company in June 2019. But according to a report from the Financial Times, Feb. 28, until consulting with the SEC, MoneyGram had been classing these cash flows as revenue. Benefits reclassified as contra expenses The filing revealed that in the third and fourth quarters of 2019, Ripple had input $11.3 million into MoneyGram, in what was…

Florida’s Coronavirus Health Emergency Widens U.S. Infection Spread

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Florida has declared its first two cases of the coronavirus. The coronavirus has now spread to all four corners of the continental US. Further spread threatens to sink an already turbulent global economy into recession. The coronavirus outbreak has hit Florida. As the virus’ global death toll reaches 3,000, two Bay Area residents have tested positive for the respiratory disease. Consequently, Florida Governor Ron DeSantis has declared a health emergency in the Sunshine State. State authorities affirm that the threat to the public remains low. However, with confirmation of the…

No Central Bank Digital Currencies Focus on Cross-Border Payment

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Cross-border payments do not appear to be a priority as countries all over the world to engage with their own digital currency projects, a new report says. While global governments are competing to become the first country in the world to issue a central bank digital currency (CBDC), no CBDC project really focuses on cross-border payments, according to a new study released by the Bank for International Settlements (BIS). No ongoing global CBDC projects explicitly focus on cross-border payments The BIS’ new CBDC revelation is part of the bank’s quarterly…

Bitcoin Hash Rate Hits New All-Time High as Miners Shun Price Drop

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Bitcoin (BTC) has hit a new all-time high in terms of hash rate despite dropping almost 12% last week, data suggests. According to various resources tracking hash rate growth on the Bitcoin network, the metric was circling its highest value ever as of March 1. Bitcoin network hits up to 136 quintillion hashes per second Hash rate refers to the combined computing power that miners are dedicating to validating transactions on the Bitcoin blockchain. The higher the value, the more power there is — this implies that miners believe in…

Bitcoin Jumps Alongside Gold on Fiscal Stimulus Sentiment

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Rival assets bitcoin and gold jumped hand-in-hand on Monday as investors pinned their hopes on central banks stimulating economies via new stimulus programs. The bitcoin-to-dollar exchange rate surged 3.28 percent to hit an intraday high of $8,64.08 following the European session open. At the same time, CME futures linked to the pair also notched higher by 3.57 percent, signaling a renewed bullish sentiment into the beginning of the new week. Bitcoin CME Futures begins the week in positive territory | Source: TradingView.com Gold also witnessed growth in its investors’ upside…

How Innovative P2P Services Can Help Navigate the Globally Complicated Financial Landscape

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Banking has become an imperative part of our life. Whether a working professional, a business or a a student, using banking channels is a prerequisite nowadays. A majority chunk of the population uses traditional finance alternatives in some or the other way on a daily basis. According to one of the recent World Bank’s Global Findex reports, a substantial 1.7 Billion adults across the world still don’t have an account in a bank or any other financial institution and can be termed unbanked. China, India, Bangladesh, Pakistan, Indonesia, Mexico, Nigeria,…

Dow Roars Higher Because Trump Won’t Let This Market Crash

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Dow Jones Industrial Average (DJIA) futures jumped as much as 500 points higher on Monday. Stock markets eye a rebound after the worst week since 2008. Facing coronavirus panic, Trump may be forced to introduce creative fiscal policies to support the stock market. The stock market is showing signs of life after the worst week since the 2008 recession. Dow Jones Industrial Average (DJIA) futures soared an astonishing 500 points higher overnight before settling 221 points up. Headlines this morning focus on the wave of central bank stimulus coming. But…

Whistleblower Outs ‘Wolf of Kyiv’ for $70 Million Bitcoin Scam

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A whistleblower has revealed the existence of a 200-employee Ukrainian Bitcoin (BTC) trading scam that netted $70 million in 2019.  The whistleblower outed the scam by providing footage and internal company documents to Swedish newspaper Dagens Nyheter, which reported the news on March 1.  The scam predominantly targets investors based in Australia, New Zealand and the United Kingdom by using fake news articles advertised on Facebook and some mobile game platforms.  The stories feature interviews with celebrities who purportedly made a killing by investing in crypto — including Gordon Ramsey,…

Final Fantasy VII Remake Demo Finally Arrives for PS4 Gamers

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Square Enix has released a free FF VII Remake demo. It is available right now on the PlayStation Store. Players can experience the first chapter of the game ahead of release on Apr. 10. A free Final Fantasy VII Remake demo is now available. Developer Square Enix shared the news in a tweet published earlier today. Final Fantasy VII Remake Demo Players can download the Final Fantasy VII Remake demo from the PlayStation Store. Here’s what Square Enix says is in store: Advertisement Enjoy the first chapter of FINAL FANTASY…

Scottish company hit with maximum fine for making nearly 200 million nuisance calls

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The Information Commissioner’s Office (ICO) has fined CRDNN Limited with the maximum £500,000 fine for making more than 193 million automated nuisance calls. Operating out of a Clydebank business park, CRDNN Limited was raided by the ICO in March 2018, with computer equipment and documents seized for further analysis of their nuisance call operation. The subsequent ICO investigation revealed that CRDNN Limited was found to be making nearly 1.6 million calls per day about window scrappage, debt management, window, conservatory and boiler sales between 1 June and 1 October 2018. Some…