Prosecutors in South Korea – who confirmed the broadcaster’s report to Forkast – estimate nine executives made a total of 414.5 billion won ($315 million) from the enterprise. Of that, prosecutors found “almost none” of the 91.4 billion won belonging to Kwon in South Korea, according to the report. Original Source KoreaKwonsMillionsProsecutorsReportSouth CryptoX Portal
Multifaceted trading platform Robinhood will pay the $10 million fine to DFPI following an investigation by NASAA. Robinhood (NASDAQ: HOOD) has reached a $10.2 million settlement with the California Department of Financial Protection and Innovation (DFPI). According to reports, the financial services company is paying the penalty for “operational and technical failures” that harmed investors. The Robinhood settlement follows a probe by the North American Securities Administrators Association (NASAA). The NASAA looked into complaints regarding the company’s system outages and service unavailability that cost users several trading opportunities. During the Robinhood…
The collection features 3,003 NFTs, and is slated to launch on April 14th. An unreleased recording of the late English singer-songwriter, David Bowie, is set to debut as a music NFT. According to a Decrypt report, Gala Music has teamed up with music producer Larry Dvoskin and publisher Warner-Chappell Music to facilitate the launch. Gala Music – a subsidiary of Gala Games – and partners will be releasing an unheard version of Bowie’s 1983 hit song, “Let’s Dance,” via a limited series of non-fungible tokens (NFTs). The collection features 3,003…
press release PRESS RELEASE. Victoria, Seychelles 7 Apr 2023 – Bitget, the leading crypto derivatives exchange and copy trading platform, has announced a new round of launchpad listing featuring GoSleep (ZZZ), the leading Web3 sleep and healthy living reward app on Arbitrum. The launchpad tickets for ZZZ token will be allocated on Apr 17, with the deposit period starting on Apr 10. In this round of launchpad, Bitget has also introduced the sunshine pool, which is specially designed to provide fair opportunities for more participants to get allocations. Bitget’s Launchpad…
Bitkraft is focused on taking up equity positions in the startups it is backing while also not discounting the likely benefits of holding the beneficiary outfit’s token. Bitkraft, a Venture Capital firm for gaming platforms, eSports, and immersive technology has announced it has raised the sum of $220.6 million to launch its second token fund. According to the SEC filing, the fund was designated as the BITKRAFT Ventures Token Fund II and though it contains not much information about the investment target, it showed the filing was made on March…
South Korean prosecutors have identified 414.5 billion won ($314.2 million) in illicit assets associated with Terraform Labs co-founder Do Kwon and his associates. Out of the $314 million identified illicit assets, prosecutors have linked about 91.4 billion won ($69 million) of the specified amount to Kwon. Although Kwon amassed millions, none of the assets tied to him is recoverable or under the jurisdiction of the S.Korean authorities. This is primarily because the now-arrested former CEO reportedly converted most of the stolen funds into Bitcoin (BTC) using overseas crypto exchanges instead…
Germany is looking to modernize its capital market via the issuance of electronic securities on a blockchain platform. In an interesting development, the government of Germany is taking a blockchain-based route for the regulation of startups that are working for financial innovation. Earlier this week on April 5, Germany’s finance ministry drafted legislation dubbed the “Future Finance Act”. Some of the key goals of the legislation include the digitization of capital markets via the issuance of electronic securities on a blockchain platform. Besides, the legislation also talks of the improved…
The saga of the Mt. Gox cryptocurrency exchange and the repayment of its creditors continues, as the company released a new statement as to what to expect now that its registration window has closed. On April 7, the former exchange released a statement from its rehabilitation trustee Nobuaki Kobayashi saying the deadline for creditors to provide their repayment information — clarification of payee and payment type — has passed. It said that “base repayment, intermediate repayment and early lump-sum repayments” will be carried out until Oct. 31, 2023. However, this final…
“Our country has been economically bruised over the last eight years, with less income and more expenses for the people,” Thavisin is quoted by Bloomberg as saying. “The current government has been feeding IV drips with small money handouts. That’s not the right way and doesn’t stimulate the appropriate and right economic growth.” Source
A recently leaked list has exposed several high-profile celebrities cashing in on promoting cryptocurrency projects on social media. This revelation underscores the potential risks associated with taking financial advice from influencers. It casts a shadow over the integrity of the crypto market. The leaked list, shared by a Reddit user, has unveiled the staggering sums paid to celebrity influencers for promoting cryptocurrency projects on social media platforms such as Instagram, TikTok, and Twitter. Jake Paul, who reportedly earns $150,000 or more for a single tweet about a project, is topping…