Tag: Report

NFT startup Rario loses founders after $120M funding last year: Report

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Rario, a Polygon-based platform issuing cricket-related nonfungible tokens (NFTs), has reportedly seen its founders leave the firm after two years after launching. Rario CEO Ankit Wadhwa and chief technology officer Sunny Bhanot are being pushed out as investors at the startup take greater control, TechCrunch reported on Sept. 8. Rario CEO Ankit Wadhwa (left) and CTO Sunny Bhanot (right). Source: TechCrunch Dream11, a major Indian fantasy sports platform and the largest backer of Rario, is also being ousted, according to the report. A number of roles are being removed as part…

Turkish crypto exchange Thodex CEO gets 11,000-year sentence for $2B scam: Report

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The former CEO of Turkish crypto exchange Thodex, Faruk Fatih Özer, was sentenced to 11,196 years in prison by a Turkish court on charges of “establishing, managing and being a member of an organization”, “qualified fraud”, “laundering of property values”. The Anatolian 9th High Criminal Court sentenced Ozer along with his two siblings to the same jail sentence of 11 thousand 196 years, 10 months and 15 days in prison along with a $5 million fine, reported Turkish state-run news agency, Anadolu Agency. The Turkish crypto exchange was one of…

JPMorgan moves into deposit tokens for settlements: Report

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Financial giant JPMorgan is making another move into the crypto space with a new blockchain-based solution for cross-border transactions, reveals a report by Bloomberg. The system, however, won’t be available until the bank receives the green light from regulators in the United States.  JPMorgan has reportedly developed most of the infrastructure to run the new deposit token, which will be first launched for corporate clients to speed up payments and settlements. Deposit tokens are issued on a blockchain by a depository institution to represent a deposit position. The solution contrasts…

Former FTX exec will give up real estate, car and $11M following guilty plea: Report

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Ryan Salame, the former co-CEO of FTX Digital Markets, has pleaded guilty to charges related to defrauding the United States Federal Election Commission (FEC) and conspiracy to operate an unlicensed money-transmitting business. According to a Sept. 7 announcement from the U.S. Justice Department, Salame pleaded guilty before a judge in the U.S. District Court for the Southern District of New York, making him the fourth major player connected to defunct crypto exchange FTX facing criminal charges to do so. The former co-CEO could face years in prison for the campaign…

Report suggests 6 billionaire crypto traders earned their fortunes from Bitcoin

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A report released by London-based investment migration consultancy firm Henley & Partners suggests there were more than 40,000 crypto millionaires in the world holding Bitcoin.  According to the “Crypto Wealth Report” published on Sept. 5, Henley & Partners said there were roughly 88,200 millionaires worldwide with crypto holdings, with 40,500 holding Bitcoin (BTC). The report suggested that of 182 individuals who held more than $100 million worth of crypto, 78 were Bitcoiners. In addition, six out of 22 crypto traders who held more than $1 billion “amassed their fortunes from…

London Stock Exchange Operator in Talks With Government To Launch New Blockchain-Powered Trading Venue: Report

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The London Stock Exchange Group (LSEG) is developing a new blockchain-powered trading venue, according to a new report. Murray Roos, a group head of capital markets at LSEG, tells the Financial Times that his company is “definitely not building anything around crypto assets.” Rather, Roos says they plan to use blockchain technology to make traditional asset trading more efficient. “The idea is to use digital technology to make a process that is slicker, smoother, cheaper and more transparent… and to have it regulated.” LSEG operates the London Stock Exchange, one…

South Korea plans to submit bill to freeze North’s crypto assets: Report

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The government of South Korea is reportedly planning to submit a bill that will track and freeze North Korean crypto and virtual assets that are used to fund illicit weapons programs.  According to a report by a local media outlet, the Korea JoongAng Daily, multiple anonymous government sources confirmed on Aug. 3 that the bill is in the works. A government official who remained anonymous reportedly said that the bill would reflect the president’s belief that the country’s cybersecurity framework needs to be repaired, the report said. Another unnamed source…

99% of Nigerians are crypto aware — ConsenSys report

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A global survey featuring respondents from 15 countries indicates that Africa’s largest economy, Nigeria, has the most cryptocurrency-aware population in the world. ConsenSys and YouGov released the findings from the global Web3 perception survey, which sought to provide both macro and regional insights into the perception of different countries toward cryptocurrencies and the broader Web3 ecosystem. A key takeaway from the data obtained from the qualitative survey was that two African nations rank highest for awareness of cryptocurrencies. According to the survey, 99% of Nigerians and 98% of South Africans are more knowledgeable…

LSE Group Plans to Offer Blockchain-Powered Market For Traditional Assets: Report

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US, UK intel agencies warn against new crypto malware: Report

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An advisory report issued by government agencies in the United States and the United Kingdom warns users to beware of new malware being used to target crypto wallets and exchanges.  The U.S. National Security Agency (NSA), Cybersecurity and Infrastructure Security Agency (CISA), Federal Bureau of Investigation (FBI) and the U.K.’s National Cyber Security Centre (NCSC), which is a part of the Government Communications Headquarters (GCHQ) collaborated to release a joint report about the malware dubbed the “Infamous Chisel.” According to the report, the malware has been tied to the activities…