Tag: Paperwork

Binance onboarded millions into finance but forgot the paperwork — Columbia professor

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Recent events surrounding the crypto exchange Binance sparked significant debate about the United States’ crackdown on crypto firms. According to Omid Malekan, adjunct professor at Columbia Business School and author, the Department of Justice’s approach in the case is very different from what is seen in traditional finance. “People who sincerely believe that crypto is some unique enabler of bad people doing bad things don’t understand how the rest of the financial system actually works,” Malekan wrote on X (formerly Twitter), adding that companies that follow Anti-Money Laundering best practices…

Pro-Bitcoin Miami Mayor Files Paperwork for US Presidential Bid

While the Bitcoin community may support the Miami Mayor and cast their vote for him, his acknowledgment about not voting for Trump in the 2016 or 2020 elections could affect their decision. The Mayor of Miami and Bitcoin advocate Francis Suarez has signaled his intention to run for the US presidential position. As he joins the Republican race for the seat of president, Suarez has become the first Hispanic in the group. As the son of the city’s first Cuban-born Mayor, Miami voters have elected the Bitcoin bull twice. Currently,…

Cybersecurity Firm Cybereason Allegedly Files Confidential Paperwork for US IPO

Cybereason has raised approximately $750 million to date and was valued at around $3 billion last year following a $275 million fundraising. Cybereason, a fast-growing cybersecurity company behind major endpoint protection in government and institutions, has reportedly filed for confidential paperwork with United States regulators to go public later this year. According to news outlet Reuters, people familiar with the matter revealed that the Cybereason company is eyeing an IPO that could value it at more than $5 billion. The SoftBank and Alphabet Inc.-backed firm has finalized underwriters for the…

Robinhood files SEC paperwork for public offering

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Robinhood Markets Inc., a popular trading app that recently expanded its cryptocurrency business, has filed paperwork with the United States Securities and Exchange Commission, or SEC, to go public. The company confirmed Tuesday that it had confidentially submitted a draft registration statement on Form S-1 with the SEC relating to the proposed public offering of its common stock. Form S-1 requires companies to provide more detailed information on the planned use of capital proceeds., as well as a brief prospectus on the proposed security. While Robinhood didn’t specify when the…

Seven firms in Japan deploy blockchain to digitize trade paperwork

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According to an Oct. 26 report by Japanese news agency The Nikkei, seven Japanese companies are preparing to invest in a new trade data management system. Reportedly developed by NTT Data, the platform uses blockchain technology to prevent malicious third-parties from tampering with recorded data. The platform is designed to manage receipts for exporting and importing companies and will also manage letters of credit issued by banks. The new service will also help to process other related documents handled by insurance and logistics companies. As reported, the participating companies include…

Major Polish Insurance Company Taps Blockchain for Its Paperwork

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Polish insurance company Link4 has partnered with a regtech firm Coinfirm to streamline document correspondence and storage with a blockchain-based system. Called Trudatum, the blockchain-enabled tool developed by Coinfirm reportedly allows the firm to transfer and store electronic documents and ensure their immutability. For Link4’s customers specifically, it means that their insurance papers could be accessed and verified online, thereby reducing the overall amount of paperwork for the company. Link4 considers itself the leader of the direct insurance market in Poland. Launched in 2003, the company was allegedly the first…

Singapore’s Biggest Shipper Partners IBM in Developing Blockchain for Crucial Trade Paperwork

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Tech giant IBM is partnering with one of Singapore’s biggest shipper, Pacific International Lines (PIL), in digitalizing one of the most important documents in shipping – Bill of Lading. The two firms will collaborate in designing and creating an electronic Bill of Lading (e-BL) which will exist on a blockchain. In international trade, the Bill of Lading not only serves as evidence of ownership of goods, receipt of shipment and contract of carriage but is also relied upon by banks and other financial institutions in the provision of trade financing.…