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Hong Kong Regulator Warns Against Proxinex for Suspected Virtual Asset Fraud
30.7.2024
The Securities and Futures Commission (SFC) of Hong Kong has issued a public warning regarding Proxinex, an entity suspected of virtual asset-related fraud. Investors have encountered issues withdrawing virtual assets from Proxinex, later being informed that their accounts were nonexistent. The...
US Debt Crisis Deepens as National Debt Surpasses $35 Trillion
30.7.2024
The U.S. national debt has exceeded $35 trillion, highlighting the country’s severe fiscal challenges as debates over taxes and spending continue. The Congressional Budget Office forecasts the debt could surpass $56 trillion by 2034, driven by rising expenditures and interest costs outpacing...
Justin Sun Calls for Restoration of Bitcoin Emoji on X
29.7.2024
Justin Sun, founder of Tron, called for the restoration of the bitcoin emoji on X. Sun stated that the bitcoin emoji had become tradition, and that, as former U.S. president Donald Trump had declared, the original cryptocurrency was poised to surpass gold. “We humbly request restoring this...
Hong Kong Lawmaker Advocates for Bitcoin Inclusion in Strategic Fiscal Reserves
29.7.2024
Hong Kong legislator Wu Jiezhuang has proposed an initiative to consider the inclusion of Bitcoin in the region’s strategic fiscal reserves. This move, aimed at enhancing Hong Kong’s economic framework and accelerating Web3 development, underscores the growing global recognition...
Coinbase to Provide Custody for Australian Bitcoin ETF BTXX
29.7.2024
Digitalx, an ASX-listed company, has selected Coinbase to deliver custody and advanced trading execution services for its recently approved Bitcoin exchange-traded fund (BTXX) in Australia. This partnership will offer qualified Australian investors access to bitcoin and other digital assets via...
Former NBA Star Scottie Pippen to Tokenize Legendary Chicago Bulls Ball
28.7.2024
Scottie Pippen, a former Chicago Bulls’ small forward, 6-time NBA champion, and 2-time Olympic Gold medalist, has announced the tokenization initiative for a historic ball. Pippen alleges that he had saved the ball that started the Chicago Bulls dynasty, used in the fifth game of the team...
El Paso Man Fined $31M for Forex and Crypto Fraud
28.7.2024
A federal court has ordered Abner Alejandro Tinoco and his company, Kikit & Mess Investments LLC, to pay over $31 million for forex and cryptocurrency fraud. The order includes $6.2 million in restitution, $6.3 million in disgorgement, and an $18.8 million civil penalty. Tinoco and his firm...
Worldcoin Gets Hit With $200,000 Fine in Buenos Aires
28.7.2024
Worldcoin, the biometric, iris-based ID and universal basic income (UBI) project, has been sanctioned with fines for over $200,000 in the Buenos Aires province. The fines answer to several violations of the National Consumer Defense Law, such as the inclusion of abusive clauses in its terms...
Treasury Secretary Yellen Refutes Economist Nouriel Roubini’s Allegations of Financial Manipulation
28.7.2024
U.S. Treasury Secretary Janet Yellen has denied claims by economist Nouriel Roubini and former Trump administration official Stephen Miran that the Treasury manipulated the issuance of securities to lower real borrowing costs. Yellen assured in a Bloomberg interview that no such strategy had ever...
FBI Seizes Cryptocurrency Linked to North Korean Ransomware
27.7.2024
A grand jury in Kansas City indicted North Korean national Rim Jong Hyok for his role in a conspiracy involving ransomware attacks on U.S. hospitals and healthcare providers. The group laundered cryptocurrency proceeds and used the funds for further cyber intrusions into global defense, technology...
Zimbabwe Injects $50M in Forex Market to Stabilize Currency
27.7.2024
Zimbabwe’s central bank, the Reserve Bank of Zimbabwe (RBZ), has injected over US$50 million into the interbank foreign exchange market to stabilize the economy. This move comes as the parallel market exchange rate is significantly higher than the official rate, causing economic instability....
Georgia Man Sentenced to Prison for Cryptocurrency Computer Fraud
26.7.2024
Steven Drawdy, 40, of Grovetown, Georgia, has been sentenced to 32 months in U.S. prison for wire fraud after defrauding over 40 customers in a cryptocurrency computer scheme. Drawdy, who participated in an online cryptocurrency discussion forum, received more than $1.1 million from victims between...
Washington Regulator Warns of Miami Equity Fund 005 Crypto Fraud
26.7.2024
The Washington State Department of Financial Institutions (DFI), Securities Division, has warned about crypto investment fraud following a complaint from a resident regarding their investment in the Miami Foundation Equity Fund 005 (or Miami Equity Fund Institute 005). The investor had deposited...
SBI and Franklin Templeton Collaborate to Create Digital Asset Management Firm
26.7.2024
Japan’s SBI Holdings plans to create a new investment management company in collaboration with major U.S. asset manager Franklin Templeton by the end of the year. This joint venture will focus on managing digital assets. The new entity will be 51% owned by SBI Holdings and 49% by Franklin...
Justin Sun Mocks Kamala Harris With Made-up Campaign Slogan
25.7.2024
Justin Sun, the founder of the Tron cryptocurrency ecosystem, mocked the current U.S. Vice President and favorite to be designated as the Democratic candidate for the U.S. presidency, Kamala Harris. He joked about a possible slogan for her upcoming campaign. Sun mixed the well-known “Make...
HSBC Australia Blocks Payments to Crypto Exchanges
25.7.2024
HSBC Australia has announced that it will block all customer payments to cryptocurrency exchanges via credit or debit cards, starting from July 24, 2024. The bank cites the high-risk nature of such transactions as the primary reason for this decision. HSBC Australia claimed scammers frequently...
Web3 Infrastructure Platform Caldera Raises $15M in Early-Stage Funding
25.7.2024
Web3 infrastructure platform Caldera has successfully raised $15 million in an early-stage funding round, signaling strong investor interest in its mission. The funding was led by Founders Fund, a prominent venture capital firm known for backing innovative technology startups. Additionally...
Swiss Crypto Bank Sygnum Achieves Profitability Amid Rapid Growth
25.7.2024
Swiss-based crypto bank Sygnum has achieved profitability in the first half of 2024, marking a significant milestone in the digital asset industry. The bank’s success is attributed to robust growth across its core business segments, including custody, trading, and lending services. With assets...
Majority of Americans Believe US in Recession, Survey Shows
25.7.2024
New research by Affirm reveals three in five Americans believe the U.S. is in a recession, though it’s not officially declared. A survey of 2,000 people shows inflation and rising living costs (68%) as the main reasons for this belief, followed by complaints from friends and family (50%)...
Ferrari Launching Crypto Payment System for European Market
25.7.2024
Ferrari, the iconic Italian luxury sports car manufacturer, announced on Wednesday that it will introduce its cryptocurrency payment system to European dealers by the end of July 2024. This move follows the successful launch of crypto payments in the U.S. less than a year ago, aimed at better...