Tag: News

Masterminds Behind South African Bitcoin Ponzi Scheme Told to Pay Back Over $291 Million – Regulation Bitcoin News

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Masterminds of one of South Africa’s biggest bitcoin Ponzi schemes, Mirror Trading International (MTI), have been asked by the scheme’s liquidators to pay back over $291 million to cover the scam operation’s debts. Liquidators’ Influence Liquidators of the South African bitcoin Ponzi scheme, Mirror Trading International (MTI), have issued summonses against eighteen individuals believed to be the masterminds behind the now-defunct scheme. The liquidators want the named individuals to pay back more than $291 million (4,666,077,528 rand) to cover the scheme’s debts, a report has said. The move to summon…

Crypto Exchange Coinbase Halts Service in India Due to ‘Informal Pressure’ From Central Bank RBI – Exchanges Bitcoin News

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The Nasdaq-listed cryptocurrency exchange Coinbase has revealed that it halted operation in India a few days after launch due to “informal pressure” from the country’s central bank, the Reserve Bank of India (RBI), says CEO Brian Armstrong. Coinbase Shares Experience in India Coinbase Global provided an update on its Indian operation during the company’s earnings call Tuesday, particularly why it exited the Indian crypto market a few days after launch. Anil Gupta, vice president of Investors Relations at Coinbase, asked CEO Brian Armstrong: “Some shareholders are curious about the recent…

Shanghai High Court Declares Bitcoin Virtual Asset With Economic Value Protected by Chinese Law – Regulation Bitcoin News

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The Shanghai High People’s Court has declared bitcoin to be a virtual asset protected by Chinese law. The court notes that the cryptocurrency has economic value. Bitcoin Is Property Protected by Law in China The Shanghai High People’s Court has declared that bitcoin qualifies as a virtual asset protected by Chinese law despite the ban on cryptocurrency trading in China, Sina reported Friday. The court’s official Wechat channel posted a notice last week stating: In the actual trial practice, the People’s Court has formed a unified opinion on the legal…

‘Dr. Doom’ Nouriel Roubini to Launch Tokenized Dollar Replacement — With Payment and ESG Features – Bitcoin News

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Economist Nouriel Roubini, a crypto skeptic known as “Dr. Doom,” is developing a tokenized asset intended to be a more resilient U.S. dollar. “Our goal is to create a global store of value … This is something akin to a substitute for Treasuries, or a digital asset that has payment features in it.” Nouriel Roubini’s Tokenized USD Alternative Economist Nouriel Roubini revealed this week that he is developing a suite of financial products, including a tokenized asset, called the United Sovereign Governance Gold Optimized Dollar (USG), to act as a…

Citi, Wells Fargo, BNY Mellon Invest in Crypto Firm Talos as Institutional Adoption of Digital Assets Accelerates – Finance Bitcoin News

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Several major financial services firms, including Citi, Wells Fargo, and BNY Mellon, are investing in institutional digital asset technology provider Talos, which aims to remove “the barriers to wide-scale crypto adoption.” The latest funding round values the company at $1.25 billion. Citi, Wells Fargo, BNY Mellon Participate in $105M Funding Round for Digital Asset Tech Firm A number of major financial services companies, including Citi and Wells Fargo, have joined a funding round for Talos, a global firm that provides institutional digital asset trading technology. Talos announced a $105 million…

Independent Russian News Site Meduza Raises Over $200,000 in Crypto – Bitcoin News

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Pressure from the Kremlin and sanctions from the West have forced Russian news outlet Meduza to increasingly rely on cryptocurrency donations to fund its independent journalism. As the restrictions imposed over Moscow’s invasion of Ukraine have prevented its Russian readers from contributing in fiat currency, the Riga-based website now accepts several digital coins. Meduza Pulls Journalists out of Russia, Seeks Crypto Support The war in Ukraine has affected Russian-language news site Meduza in more than one way, a report by Bloomberg reveals. Soon after the Kremlin launched its “special military…

Crypto Outlook 2022: Kevin O'Leary and Roy Niederhoffer

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io This power panel of investment legends will answer the most pressing crypto questions and more in a special, live interactive event on YouTube hosted by Michelle Makori, editor-in-chief of Kitco News. Kevin O’Leary, star of Shark Tank, and hedge fund manager Roy Niederhoffer, Founder, R. G. Niederhoffer Capital Management, will share their outlook on the crypto market, the macroeconomic landscape, and how crypto and other assets fit in a traditional portfolio. Sponsored by CoinPayments __________________________________________________________________ Kitco News is the world’s #1 source…

Biggest Movers:  SOL, NEAR, and AVAX Drop More Than 20% Lower on Wednesday – Market Updates Bitcoin News

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Solana, NEAR and AVAX were all trading over 20% lower on Wednesday, as global crypto markets continued to fall on hump-day. The cryptocurrency market cap is currently down 6.35%, as traders continued to digest the recent crash in the price of LUNA and UST. Solana (SOL) Solana was down by over 20% during Wednesday’s trading session, as the bear market caused by the crash in LUNA continued to send shock waves through the markets. After trading at a peak of $70.90 on Tuesday, SOL/USD dropped to a low of $49.69…

Terra Fiasco Stirs Value Locked in Defi — Lido, Anchor Plummet to Lower Positions – Defi Bitcoin News

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Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Original

Stablecoin Implosion — LUNA and UST Lose Significant Value, Downturn Ripples Across the Crypto Economy – Bitcoin News

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During the last few days, the crypto economy has been tumultuous as billions have fled the market in search of safety. The issues with LUNA sparked a significant sell-off as Terra’s native digital asset dropped 97% in value against the U.S. dollar in 24 hours. Terrausd has slipped 67% lower than the $1 parity and was trading at a low of $0.299 per unit at 9:00 a.m. (ET). Terra’s Native Token LUNA Loses 97%, While UST Loses 67% in 24 Hours The Terra blockchain ecosystem has been ravaged by the…