Tag: Operating

Hong Kong Regulator SFC Warns that Crypto Exchange MEXC Has Been Operating Without a License

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

DoJ charges two men for operating $25m AI crypto ponzi scheme

The U.S. Department of Justice (DoJ) has charged an Australian national and a California man with operating a $25 million crypto ponzi scheme. In a press release on Dec. 12, 2023, the DoJ said the two men, identified as David Gilbert Saffron of Australia and Vincent Anthony Mazzotta Jr. of California, allegedly operated a fraudulent scheme by promising investors to employ an artificial intelligence (AI) automated trading bot to trade victims’ funds in crypto and earn high-yield profits. However, instead of investing victims’ funds in crypto, the two men allegedly…

Philippines Security Regulator Warns Binance Is Operating Without a License

“Those who act as salesmen, brokers, dealers or agents, representatives, promoters, recruiters, influencers, endorsers, and enablers of Binance in selling or convincing people to invest in its platform within the Philippines, even through online means, may be held criminally liable under Section 28 of the Securities Regulation Code,” it said in the notice, warning of fines of 5 million Philippine Pesos ($90,000) or up to 21 years in jail. Source

Binance operating without license in Philippines, regulator says

boss

Cryptocurrency exchange Binance has been operating in the Philippines without the necessary approval or license, according to the local securities regulator. The Philippines Securities and Exchange Commission (SEC) issued a warning against Binance on Nov. 28, informing the public that the exchange is not authorized to sell or offer securities in the country. The announcement emphasized that an exchange like Binance must apply for registration and provide detailed information about offered securities before selling them to the public. Such detailed information includes the issuance price, the nature of securities and…

Coin98 Debuts Decentralized App Store on NEAR’s Blockchain Operating System

Coin98, a multichain wallet and decentralized finance (DeFi) platform, has unveiled a decentralized application (dapp) store powered by the NEAR Blockchain Operating System (B.O.S), marking a pivotal move towards providing streamlined access to prominent Layer-2 (L2) ecosystems. This development was disclosed on November 2, 2023, in a press release by the NEAR Foundation. Platform Integration The integration of NEAR’s B.O.S technology in Coin98’s offering enables over 7 million users across 170 countries to interact with a user-friendly dapp store interface. Through this interface, users can effortlessly explore top bridging and…

Xiaomi Rolls Out New Operating System HyperOS to Revolutionize User Experience 

Xiaomi’s founder and chairman of the board Lei Jun said it took approximately 5000 software engineers’ combined efforts to develop the new operating system. Chinese smartphone maker Xiaomi has announced the launch of its cutting-edge operating system HyperOS after five years of dedicated hard work and research. The new OS, unveiled Thursday during the company’s launch event theme “Leap Beyond the Moment”, will debut alongside Xiaomi’s upcoming range of smartphones, wearables, and TV sets on October 31. Xiaomi’s New Operating System HyperOS to Be Available Xiaomi 14 Series In an…

Samsung’s Q3 2023 Operating Profit Drops 78% amid Memory Chip Slump

To enhance profitability and mitigate the impact of cyclical downturns, Samsung is focusing on advanced memory chips, particularly high bandwidth memory chips that are crucial for AI servers and processors.  Samsung Electronics, the South Korean tech giant, released its preliminary earnings guidance for the third quarter (Q3 2023), indicating a notable 77.9% drop in operating profit compared to last year. According to the company, the decrease in profitability is primarily attributed to the lingering effects of a prolonged slump in memory chip prices, which have posed challenges for the semiconductor…