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Musk on ‘Massive Incentive’ to Get Money Out of Banks, Dave Ramsey Dismisses De-Dollarization Fears, BTC Network Congestion Eases, and More — Week in Review
14.5.2023
Twitter CEO Elon Musk has shared what he calls a “massive incentive” to get money out of bank accounts, noting “bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big to fail.’” Personal finance coach and author Dave Ramsey, for his part, thinks...
BlockFi users to get back $297M from Wallet accounts: Report
11.5.2023
Return of funds does not apply to users of interest-bearing accounts, ruled U.S. bankruptcy judge Michael Kaplan
BlockFi Customers Can Be Repaid $300M Held in Custodial Accounts, Judge Says
11.5.2023
BlockFi custodial wallet users can be returned nearly $300 million, as a New Jersey judge ruled on Thursday May 11 that assets sitting in the wallets belong to clients rather than the estate of the bankrupt crypto lender
Seoul Court Greenlights Seizure of Do Kwon’s Assets Worth $176 Million
11.5.2023
According to a local report, South Korean prosecutors have been given the green light by the Criminal Division of the Seoul Southern District Court to seize assets owned by Do Kwon, the co-founder and former CEO of Terraform Labs. The report discloses that a total of 233.3 billion won ($176...
Elon Musk Shares ‘Massive Incentive to Move Money out of Bank Accounts’
9.5.2023
Tesla and Twitter CEO Elon Musk has shared a “massive incentive” to move money out of bank accounts, citing a significant interest rate gap created by the U.S. Treasury and the Federal Reserve. “As more people & companies realize this, bank depositor flight will accelerate...
BNP Paribas Will Link Digital Yuan to Bank Accounts for Promoting CBDC Use: Report
5.5.2023
BNP Paribas' corporate clients will be able to connect to China's e-CNY through a connection to the Bank of China's system
Israel Has Seized 190 Binance Accounts With Alleged Terrorist Ties Since 2021: Reuters
5.5.2023
Israeli authorities say the accounts on crypto exchange Binance belonged to individuals affiliated with Daesh and Hamas
Darknet hackers are selling crypto accounts for as low as $30 a pop
2.5.2023
Prices of hacked cryptocurrency accounts still fetch the highest prices among hacked online accounts, according to online data security provider Privacy Affairs
Swissquote offers a chance to earn passive income with trading accounts
1.5.2023
Swissquote is bringing back the chance to earn passive income with trading accounts, effective May 1, 2023. The passive income will be in the form of interest, which any customer can earn with a trading account. Cash deposits in three currencies will fetch interest based on how much balance they...
Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts
29.4.2023
A growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits amid currency restrictions that triggered a flight of funds to bank accounts abroad. Demand for Dollar, Euro...
PayPal to Enable On-Chain Transfers From Venmo Accounts, Including to On-Chain Wallets
28.4.2023
The feature will become available in May, PayPal's Jose Fernandez da Ponte said on a panel at Consensus
Hong Kong regulator requires banks to open accounts for crypto firms
28.4.2023
Hong Kong’s central bank has urged banks to provide services to crypto firms even before they receive the license
Report: Hackers Breach AT&T Email Accounts, Steal Victims’ Crypto Funds
28.4.2023
Cybercriminals have reportedly breached AT&T email accounts and are using the access gained to steal crypto assets from their victims. While a spokesperson for AT&T has denied claims that hackers have gained access to the company’s internal systems, a report suggests that as much...
Total Arbitrum accounts surpass 5M after airdrop hype: Report
17.4.2023
The milestone was accomplished less than one month after a much-anticipated airdrop
Paxful CEO announces 88% of accounts unfrozen, $4.4M in funds remaining
17.4.2023
“I gave up my title as CEO to unfreeze these accounts and am also in danger of being in contempt of court,” said Ray Youssef
SEC Charges Crypto Exchange Bittrex With Operating Unregistered Exchange, Broker, and Clearing Agency
17.4.2023
After the report revealing that the cryptocurrency exchange Bittrex had received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), the securities regulator charged Bittrex and the company’s CEO on April 17 for “operating an unregistered exchange, broker,...
Economist Paul Krugman Criticizes Florida Gov. Ron DeSantis’ Opposition to Central Bank Digital Currency
15.4.2023
Economist Paul Krugman questioned why Republican Florida governor Ron DeSantis opposes a central bank digital currency (CBDC) in a recent opinion editorial. Krugman suggested that DeSantis may be motivated by “general paranoia.” He speculated that DeSantis may be influenced...
Hong Kong’s Largest Virtual Bank Offers Crypto Conversion Services
15.4.2023
ZA Bank, Hong Kong’s biggest virtual-only lender, intends to expand its business into the region’s growing digital assets sector. The banking platform will offer crypto-to-fiat conversions and account services as the Chinese financial center is seeking to embrace the industry. ZA Bank to Provide...
Winner of Canadian Lottery Jackpot Says Impostors Using His Name to Steal Bitcoins
14.4.2023
The winner of the Canadian lottery, Scott Gurney, has confirmed that scammers impersonating him on Facebook have conned unsuspecting victims of their bitcoins. To counter the scammers, Gurney said he has stopped accepting or sending friend requests on the social networking platform. ‘Too Good...
Hong Kong virtual bank to offer crypto conversions and accounts: Report
12.4.2023
The account services for crypto firms come at a time when U.S.-based firms are struggling to find local banking partners and are frequently looking abroad