Tag: Report

World’s Leading Crypto Exchange Binance Distances Itself From Its Investment Arm, Binance Labs: Report

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The world’s largest crypto exchange by volume is reportedly severing ties with its multi-billion-dollar investment branch. According to a new report by Bloomberg, since taking the helm from disgraced Binance co-founder Changpeng Zhao, Binance CEO Richard Teng has pushed Binance Labs – the crypto exchange’s investment arm – into a separate company. Disclaimer text found on Binance Lab’s official website states that the $10 billion investment firm is not a part of Binance. “Binance Labs is an independent venture and not part of the Binance Group nor is it involved…

Report: Global Crypto Investments Surge to Record $2.7 Billion in Weekly Inflows

In an unprecedented surge, global crypto investment products experienced a historic influx of $2.7 billion last week, signaling strong confidence among investors and propelling assets under management (AUM) back to December 2021 levels. Record $2.7 Billion Flows Into Crypto Investments in a Historic Week The record-breaking week saw digital asset investment vehicles garner inflows of […] Source CryptoX Portal

U.S. Will Appeal Do Kwon’s Extradition to South Korea: Report

The eyes of global authorities, including Interpol, have been on Kwon ever since Terra collapsed in mid-2022. Terra’s collapse wiped out billions of dollars of investor funds, and Kwon fled to Montenegro, where he was arrested for possession of falsified official documents. The courts in Montenegro are deciding the destination of his extradition. Source

Nigeria Is Updating Guidance for Crypto Firms After Binance, Coinbase Block: Report

The report, which cites documents from the Securities and Exchange Commission (SEC) of Nigeria, follows headlines from February that Nigeria’s government had blocked local access to several crypto platforms, including Binance, Kraken and Coinbase. Coinbase said at the time that it remained accessible and did not immediately respond to a CoinDesk request for comment on the current status. Source

BRICS Will Create Payment System Based on Digital Currencies and Blockchain: Report

“We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as digital technologies and blockchain. The main thing is to make sure it is convenient for governments, common people and businesses, as well as cost-effective and free of politics,” Kremlin aide Yury Ushakov said in an interview with TASS. Source

Nigerian Government Demands Nearly $10,000,000,000 From Binance for Alleged Foreign Exchange Rate Manipulation: Report

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The government of Nigeria is demanding billions of dollars from Binance, alleging that the crypto exchange manipulated the exchange rate of its fiat currency. According to a new report by the BBC, the Nigerian government is slapping Binance with a $10 billion fine, claiming that the top global crypto exchange by volume manipulated foreign exchange rates to the point where the naira – the nation’s issued currency – fell 70%. Bayo Onanuga, special advisor to Nigerian President Bola Tinubu, tells the BBC that Binance failed to register with the government…

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