On March 30, the former FTX CEO, Bankman- fried pleaded not guilty to the alleged bribery and campaign finance violations involving a Chinese government officials. The founder of the failed cryptocurrency trading platform has previously pleaded not guilty to eight other charges. It was regarded by the prosecutors as one of the biggest financial frauds in United
Towards the upcoming G7 meeting in Hiroshima this May, Japan, The United States, The United Kingdom, Canada, France, Germany, and the European Union are expected to collaborate to provide a cooperative strategy for tougher global cryptocurrency regulations. The plan follows the collapse of the major cryptocurrency exchange FTX in November, which has laid bare the poor governance
North Carolina-based First Citizens has agreed to buy Silicon Valley bank from us regulators, the Fedral Deposit Insurance Corporation (FDIC) which took over the lender earlier this month as depositors raced to withdraw money. First Citizens also agreed to buy all of SVB’s deposits and loans, as well as a large portion of its assets, leaving
Binance, the world’s largest cryptocurrency exchange, has faced accusations of enabling money laundering and facilitating criminal activities in the past. In response to the FTX scandal, Binance has made significant efforts to enhance transparency in the industry. However, a recent CNBC investigation suggests that Binance insiders are allegedly abetting users in China to bypass the
El Salvador’s President Bukele announced his intention to send a bill to the country’s Congress next week on eliminate all taxes on technology innovations as well as computing and communications hardware manufacturing. “Next week, I’ll be sending a bill to congress to eliminate all taxes (income, property, capital gains and import tariffs) on technology innovations, such as
The Securities and Exchange Commission has charged Grenada diplomat and crypto maven Justin Sun with fraud and unregistered securities, and also has charged YouTuber and boxer Jake Paul among other celebrities for promoting Sun’s Tronix and BitTorrent crypto assets. Actress Lindsay Lohan, musicians Soulja Boy, Austin Mahone,Akon, Lil Yachty, Ne-Yo and adult film star Kendra Lust were also
What is Ponzi scheme? Ponzi scheme is believed to be an investment swindle in which some early investors are paid off with money put up by later ones in other to encourage more and bigger risk. That is , Ponzi scheme deals majorly with investors money in circulation. The scheme has been carried out on
The world of cryptocurrency has been channel towards bringing ease to users in the financial sector. And with the continuous growth in number of users, the more the safety and reliability is required. The digital currency (cryptocurrency) grow in it number of asset which brings about price fluctuations and a need to tie it to
The cryptocurrency exchange OKcoin on Friday suspended trading of the two city-based digital currencies — MiamiCoin and NYCCoin “Limited liquidity for these coins on our platform has created the possibility of price manipulation and fraudulent activity,” OKCoin wrote in a blog post. “While none of these risks have occurred, we wanted to get ahead of
A legislative proposal from Florida Governor Ron DeSantis would prohibit the use of a national central bank digital currency (CBDC) as money within his state. He continued by stating that “The Biden administration’s efforts to inject a Centralised Bank Digital Currency is about surveillance and control,” “Today’s announcement will protect Florida consumers and businesses from the
