Duncan Cock Foster said he and his brother would be replaced by VP of engineering Eddie Ma as technical leader, and director of collector services and growth Tara Harris as non-tech leader, and that he and Griffin would continue with the company as advisors to ensure continuity. Source
According to the company’s LinkedIn page, Luno has more than 600 employees, meaning it will cut over 210 jobs. Luno said the layoffs will affect employees in all regions. Headquartered in London, Luno has offices in Singapore, Cape Town, Johannesburg, Lagos and Sydney. Source
In its investigation, FinCEN found that Binance was among the top three counterparties having links to Bitzlato. Last week, the US Justice Department shuttered crypto exchange Bitzlato over allegations of money laundering and arrested its founder in Miami. However, the latest report by Reuters suggests that crypto giant Binance had reportedly processed $346 million worth of Bitcoin for Bitzlato. Binance and Bitzlato On January 18, the Justice Department charged Bitzlato founder Anatoly Legkodymov for operating an unlicensed money exchange fueling “a high-tech axis of crypto crime” and processing $700 million…
According to a deed of company arrangement (DoCA), the exchange will receive a loan of 1.25 million Australian dollars from an associated business, Digico, to allow it to function. Customers with under $250 will be repaid in full and others will receive at least 45% of their balance over five years. Source
Australian cryptocurrency exchange Digital Surge appears to have narrowly avoided collapse, despite having millions of dollars in digital assets tied up in the now-bankrupt FTX crypto exchange. On Jan. 24 local time, Digital Surge creditors approved a five-year bailout plan, which aims to eventually refund its 22,545 customers who had their digital assets frozen on the platform since Nov. 16, while allowing the exchange to continue operating. The rescue plan was first floated to customers by the exchanges’ directors via email on Dec. 8, the same day the company fell…
Summary: Binance processed 205,000 transactions between May 2018 and January 2023, per a Chainlysis report from Tuesday. The leading crypto exchange also reportedly facilitated $90 million in BTC trading volume for Bitzlato post-August 2021, after announcing plans to beef up anti-money laundering checks. Bitzlato is under investigation by the U.S. Justice Department and its Founder Anatoly Legkodymov was charged with money laundering. On-chain security firm Chainlysis reported on Tuesday that Binance facilitated over $345.8 million in Bitcoin trading volume for investigated Russian crypto exchange Bitzlato. Bitzlato was accused of money…
European law enforcement authorities have detained four more members of the executive team of crypto exchange Bitzlato, Europol announced. According to the police agency, nearly half of the funds processed through the platform were associated with various criminal activities. Bitzlato Senior Management Targeted in Europe, Exchange Infrastructure Dismantled High-ranking executives of the recently busted Bitzlato have been apprehended as part of the international investigation against the crypto exchange with the participation of law enforcement and judicial authorities in several European countries. According to a press release published by the European…
Until an investor starts consuming her profits – e.g., cashing out to buy yachts, caviar, champagne, Chippendale furniture (or dancers – it really is better for the American economy to allow her to temporarily roll over her profits, tax deferred, into a “like-kind” asset. Source
The world’s largest crypto exchange by trade volume, Binance, according to the story, did 205,000 transactions with Bitzlato between May 2018 and its closure last week after the U.S. Department of Justice (DOJ) charged it and its founder with money laundering. Source
Tyler Winklevoss and Cameron Winklevoss (L-R), co-founders of crypto exchange Gemini, on stage at the Bitcoin 2021 Convention in Miami, Florida. Joe Raedle | Getty Images Crypto exchange Gemini will reduce its headcount by 10%, a spokesperson told CNBC on Monday. It’s at least the third round of cuts in less than a year for Gemini, which was co-founded by twins Cameron and Tyler Winklevoss, and unlike many of its peers, is subject to New York banking regulation. Gemini had 1,000 employees as of Nov. 2022, according to PitchBook data, suggesting around…