Day: March 22, 2023

Crypto Exchange Luno Rejigs Leadership Roles as It Seeks to Boost Investor Base, Eyes Public Listing

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“Having first invested in Luno’s seed round in 2014 followed by an acquisition in 2020, we want to thank Marcus for his dynamic leadership and enduring enthusiasm for the global crypto landscape as he transformed Luno into a digital asset powerhouse,” DCG founder and CEO Barry Silbert was quoted as saying in in the release. “With James at the helm and strategic partnership from Marcus in his new role as Executive Chairman, we look forward to supporting Luno in its ambitious and continued growth journey.” Source

DCG-owed crypto exchange Luno replaces CEO, seeks outside investment

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LONDON — The CEO of cryptocurrency exchange Luno is stepping aside and handing the reins to its head of operations, the company announced Wednesday. It comes as Luno’s parent company, crypto-focused venture capital firm Digital Currency Group, continues to reel from turmoil in the crypto market. Luno also recently laid off 35% of its global workforce. Marcus Swanepoel, a South African former banker who founded Luno in 2013 with the aim of bringing crypto to the masses, will give up his CEO title after 10 years to become executive chairman,…

ICO takes action against Lewisham Council for failing to respond to hundreds of Freedom of Information requests

The Information Commissioner’s Office (ICO) has issued an enforcement notice to the London Borough of Lewisham Council for failing to respond to hundreds of overdue requests made under the Freedom of Information Act (FOIA) 2000. The Council revealed the true extent of its poor performance on information access requests to the ICO, which was much worse than statistics it recently published online. At the end of 2022, the Council had a total number of 338 overdue requests for information, 221 of which were over 12 months old. The oldest unanswered…

Thai Immigration Officers Face Arrest for Kidnapping Chinese National and Demanding Ransom in Cryptocurrency

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Four Thai immigration officers are facing arrest after allegedly abducting a Chinese national and extorting thousands of dollars in cryptocurrency. According to reports, the Chinese man, along with his female interpreter, was kidnapped by the officers after falling victim to a scam. The victim was reportedly lured into a fake investment scheme and lost a significant amount of money. The immigration officers then approached him and demanded a ransom of nearly US$30,000 in cryptocurrency, threatening to deport him if he didn’t comply. Thai deputy police commissioner Surachate Hakparn said that…

Seized exchange Bitzlato allows users to withdraw 50% of Bitcoin

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Russia-linked cryptocurrency exchange Bitzlato has partially restored access to user funds despite being officially seized by European authorities. Bitzlato has enabled its users to withdraw up to 50% of assets stuck on the platform due to enforcement from the United States and Europol, the firm announced on its Telegram channel on March 20. According to the statement, Bitzlato users can now restore half of their assets using the Telegram bot — bz_phoenix_bot — which allows users to move assets from the web Bitzlato account to an external wallet or exchange.…

Token bridges were a favored target for thieves in 2022

According to the global payment provider Visa, 2022 became a record-breaking year for cryptocurrency thefts, with over $3 billion stolen in on-chain thefts. Cryptocurrency bridge services were a favored target for threat actors.  Visa published the biannual threats report on March 20. On 24 pages, the document contains data on all sorts of violations that occurred in the digital payments system globally last year — from plastic card fraud schemes to malware. A separate section is dedicated to cryptocurrency and digital platforms. Quick history of blockchain-based major thefts. Source: Investopedia…

Bitcoin $30K bets greet FOMC as analyst warns over long liquidations

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Bitcoin (BTC) may “take out shorts” to crack $30,000 during the day’s key United States macroeconomic policy updates, analysis says. As bets pile up over how BTC price will react to the Federal Reserve’s decision on interest rates, $30,000 is in sight — but a drop to below $20,000 is not off the table. Trader plans $30,000 profit-taking Bitcoin is hours away from what popular trader Crypto Tony calls “one of the most anticipated” Fed meetings ever. The Federal Open Market Committee (FOMC) will decide on how to tweak baseline…

Magic Eden Launches Bitcoin Ordinals NFT Marketplace

Magic Eden is not the first to ride the Ordinals NFT wave. ORDX and Generative, launched in February, are two of the first Ordinals NFT marketplaces. Non-fungible token (NFT) marketplace Magic Eden is set to launch a fully audited Bitcoin NFT marketplace. This comes as Bitcoin-based Ordinals NFTs become increasingly popular. The platform will enable traders to purchase inscriptions – NFTs minted on Bitcoin’s satoshis. To facilitate the selling, buying and listing of Ordinals NFTs, Magic Eden is working on integrating support for Bitcoin wallets Hiro and Xverse. Jack Lu,…

Nike Exceeds Fiscal Q3 2023 Forecasts Despite Excess Inventory, NKE Stock Down 2% After Hours

According to Nike, inventories climbed 16% in the fiscal Q3 2023 compared to the same period in 2022. Although Nike Inc (NYSE: NKE) is still dealing with its bloated investor, which has continued to affect its China sales, the company squashed estimates in the fiscal Q3 2023. Nike released its fiscal Q3 2023 result on March 21, noting that it performed better than Wall Street’s estimates. The quarterly revenue grew 14% YoY and 19% on a currency-neutral basis to $12.4 billion. Meanwhile, the analyst’s expectation was $11.47 billion. It also…

Central Bank of Venezuela Lags in Delivering Economic Data, Experts Fear Upcoming Hyperinflation – Economics Bitcoin News

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The Central Bank of Venezuela is lagging when it comes to delivering economic data this year, failing to publish the inflation numbers for the last four months. Venezuelan economists believe this delay might mean that the country is starting to enter a new hyperinflation period, with the government trying to hide it by not offering up the figures. Central Bank of Venezuela Owes Public Four Months of Economic Data The Central Bank of Venezuela has not published the economic data corresponding to the last four months, making economists worried about…