Tag: Report

Report: Nigerian Government Imposes $10 Billion Fine on Binance

The Nigerian government has reportedly slapped the cryptocurrency exchange Binance with a $10 billion fine. According to a Nigerian government official, Binance is being punished for causing the local currency’s recent plunge against major currencies. Binance’s Alleged Influence on the Exchange Rate The Nigerian government is reportedly demanding a $10 billion fine from the crypto […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Bank of America Merrill Lynch and Wells Fargo Begin Offering Spot Bitcoin ETFs to Clients, Report

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Bank of America’s Merrill Lynch and Wells Fargo’s wealth management arm have reportedly begun offering some clients access to spot bitcoin exchange-traded funds (ETFs). Other investment platforms that offer some clients access to spot bitcoin ETFs include Fidelity, Charles Schwab, Robinhood Markets, and UBS. Major Banks Embrace Bitcoin ETFs Bank of America’s investment arm, Merrill […] Original

Report: Election Concerns Halt South Korea’s Crypto and ETF Regulation Ease

South Korea has delayed its efforts to relax its crypto regulations and the prohibition on spot bitcoin exchange-traded funds (ETFs). This development follows closely behind the People Power Party’s contemplation of removing certain regulations and the ETF ban before the commencement of South Korea’s general election. South Korea Holds Back on Crypto Regulation and Reported […] Source CryptoX Portal

Bitcoin miner Marathon’s stock jumps 20% ahead of Q4 earnings report

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Marathon’s shares surged by more than 20%, fueled by investor optimism ahead of the forthcoming earnings report. Anticipation surrounding Marathon‘s financial performance, particularly in the wake of Bitcoin’s recent price surge, has fueled significant investor interest. The bullish sentiment was evident as Marathon’s stock (MARA) on Nasdaq surged by 21% to $29 as of Feb. 27, according to data from Google Finance. MARA stock price in USD | Source: Google Finance Analysts from Zacks Investment Research are forecasting Q4 revenues to reach $138.2 million, reflecting a staggering increase of over…

Man Allegedly Vanishes After Crypto Exchange Accidentally Sends Him $585,000: Report

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A man in Australia has reportedly disappeared after a crypto exchange mistakenly sent his account more than $585,000. According to a new Australian Broadcasting Corporation (ABC) report, cryptocurrency trading platform Rhino Trading Pty Ltd, which operates OTCPro, allegedly slipped up and added a zero to an account deposit made by 37-year-old Mildura man Kow Seng Chai. The platform’s efforts to make contact with Chai to have the money returned were not successful and the company turned to the courts. Court documents cited by ABC show that the crypto exchange successfully…

Hong Kong-based Crypto Exchange BitForex Halts Withdrawals After $56 Million Leaves Wallets: Report

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A top Hong Kong-based crypto exchange has halted withdrawals on its platform after over $56 million was taken out of its wallets last week. According to on-chain investigator ZachXBT, BitForex engaged in some “suspicious activity” last week. “Seeing some suspicious activity with the crypto exchange BitForex. On Feb 23 their hot wallets saw outflows of ~$56.5M. Shortly after this time withdrawals stopped processing with no official announcements having been made since.” According to ZachXBT, BitForex users are not having their inquiries answered by officials on BitForex’s X and Telegram. Furthermore,…

Riot Platforms Highlights Risks Associated With Upcoming Bitcoin Halving Event in Annual Report

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In its latest annual report, Riot Platforms, the publicly-listed bitcoin mining firm, outlines several significant risks that could impact its operations, including troubles in the broader crypto economy, potential decreases in onchain transaction fees, and the anticipated bitcoin halving event in April 2024. The company emphasizes the halving event’s potential to reduce mining rewards as […] Original

Report: Bankman-Fried Stands by Legal Team Amid Potential Conflict of Interest

Sources report that Sam Bankman-Fried (SBF), the erstwhile crypto magnate and former head of FTX, intends to utilize his newly appointed legal team, despite these attorneys also serving Alex Mashinsky, the former chief of Celsius. On Wednesday, in a courtroom declaration, SBF confirmed his complete understanding that his legal representatives were also advocating for Mashinsky. […] Source CryptoX Portal

Crypto Super PAC Fairshake Raises $4.9M From Winklevoss Twins: Report

The Winklevoss twins, who are co-founders of crypto exchange Gemini and heavyweight bitcoin (BTC) investors, were initial investors in Fairshake, revealed in the first announcement on Dec. 18, 2023. The Winklevoss’ join a list of high-profile crypto investors backing the Super PAC, such as Andreessen Horowitz (a16z), ARK Invest, as well as crypto companies like Circle, Ripple, Coinbase (COIN) and more. Source

Government Prosecutors Urge Judge To Accept Plea Deal for Crypto Exchange Binance: Report

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US government prosecutors are reportedly urging a federal judge to accept crypto exchange Binance’s plea deal. In November 2023, the top global crypto exchange was hit with a $4.3 billion fine by the U.S. Department of Justice (DOJ) to settle a multi-year investigation. Changpeng Zhao, Binance’s controversial chief executive, said he would plead guilty to violating US anti-money laundering laws and step down as CEO. A sentencing memo filed to a federal court in Seattle last week indicates that prosecutors want the case’s judge to accept the plea deal, according to…