Day: March 1, 2022

Crypto adds efficiency to global trade and financing, says Bequant exec

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Global trade and financing suffer from inefficiencies because of traditional infrastructures. However, according to Martha Reyes, the head of research at Bequant, crypto can fix this issue. In an interview with Cointelegraph, Reyes shared her thoughts on the state of global trade and financing and how crypto makes this more efficient. According to Reyes, despite the growth and magnitude of global trade, areas like remittance payments still suffer from the number of intermediaries that transactions have to go through. This leads to lengthy transaction times. Reyes notes that legacy systems…

Bitcoin Nears $45K on Increased Demand From Ukraine and Russia

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“In percentage terms, bitcoin recorded the largest daily candle in more than a year, gaining more than 18% day-over-day at the highest point of the rally,” Mikkel Morch, executive director at crypto hedge fund ARK36, said in an email. “While it seems that the second leg of the move was at least partially fueled by a small short squeeze, overall, the rally was driven by a huge spike in demand.” Original

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Israel Defense Ministry Seized Crypto Wallets Holding Hamas-Destined Funds – Regulation Bitcoin News

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Israel’s Defense Ministry seized cryptocurrency wallets holding funds that were destined for Hamas, a report has said. The wallets belonged to businesses that are associated with Al’matchadun currency exchange, which itself is accused of helping to funnel funds to Hamas. Seizure Order Israel’s Defense Ministry recently seized cryptocurrency wallets belonging to businesses that are associated with Al’matchadun currency exchange. The wallets had crypto assets worth thousands of dollars or tens of thousands of shekels. The Defense Ministry alleges the seized funds were en route to Hamas, which the U.S. State…

Venezuelan Devs Were Jailed for Hacking Exchange Tied to Controversial Petro. Blockchain Data Cleared Them

The Venezuelan court agreed to take a look at CipherBlade’s report. Based on the investigation’s findings, in January 2021, over a month after the developer duo were detained, the court granted Mendoza and Diaz conditional freedom. In August 2021, the court officially dismissed all charges against them, according to an official document obtained by CoinDesk. Source link

SEC unable to locate BitConnect founder convicted in $2.4B fraud case

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Indicted by the United States Department of Justice in a $2.4 billion Ponzi scheme, BitConnect founder Satish Kumbhani remains untraced following conviction. In a court filing on Monday, the Securities and Exchange Commission said that the whereabouts of Kumbhani remains unknown. The SEC noted that Kumbhani’s last known location was in his native country India, but has remained untraced ever since the promoter for his BitConnect Ponzi scheme was charged by the SEC for defrauding American investors of over $2 billion. SEC in its filing noted that the convicted founder has…

Bitfinex security token platform goes live in Kazakhstan

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Major global cryptocurrency exchange Bitfinex is finally moving forward with its security token platform (STO) in Kazakhstan, opening the first day of trading. Bitfinex Securities, Bitfinex’s blockchain-based investment platform, starts officially on Tuesday, the company representatives announced to Cointelegraph. Announced in September 2021, the new STO platform is regulated within Kazakhstan’s national financial hub, known as the Astana International Financial Center (AIFC). Bitfinex Securities operates from a special economic zone in Kazakhstan, which has an independent court system, according to Bitfinex Securities chief technology officer Paolo Ardoino. The platform is…

A Review of Ekta

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Ekta is one of the trending blockchain protocols that bridges the physical and digital worlds. Named EktaChain, the mainnet leverages the power of blockchain in its tokenization of real-world assets. Hence, EktaChain facilitates the representation of physical assets and their real-world value as virtual analogs. In its operation, Ekta aims to offer users a platform to build a profitable and robust portfolio of real-world assets, but on-chain, and for all budgets and types of investors. Its mission to tokenize traditional businesses, natural resources and real-world capital provides both brands and…