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[ad_1] The Economic Offence Wing (EOW) of Odisha Police on Monday claimed to have unearthed a Crypto Ponzi scam worth Rs 1,000 crore. The EOW arrested Gurtej Singh Sidhu, (40), the Indian head of ‘STA Crypto token’, a Ponzi firm from Sri-Ganganagar, Rajasthan. The EOW in a statement said that Gurtej is a native of … Read more
[ad_1] Payments giant PayPal said on Monday it has launched a US dollar stablecoin, becoming the first major financial technology firm to embrace digital currencies for payments and transfers. While stablecoins — crypto tokens whose monetary value is pegged to a stable asset to protect from wild volatility — have been around for years now, … Read more
[ad_1] Binance users traded $90 billion (roughly Rs. 7,42,800 crore) of cryptocurrency-related assets in a single month in China, where cryptocurrency trading has been illegal since 2021, the Wall Street Journal reported on Tuesday citing internal figures and current and former employees of the exchange. The transactions made China Binance’s biggest market by far, accounting … Read more
[ad_1] US prosecutors have accused FTX founder Sam Bankman-Fried of witness tampering and asked a federal judge to issue an order that would bar the former billionaire and other parties from making public statements likely to interfere with a fair trial. The prosecutors wrote to US District Judge Lewis Kaplan on Thursday referencing a New … Read more
[ad_1] FTX Trading on Thursday sued founder Sam Bankman-Fried and other former executives of the cryptocurrency exchange, seeking to recoup more than $1 billion (nearly Rs. 8,200 crore) they allegedly misappropriated before FTX went bankrupt. The complaint filed in Delaware bankruptcy court also names as defendants Caroline Ellison, who led Bankman-Fried’s Alameda Research hedge fund; … Read more
[ad_1] Alex Mashinsky, the founder and former CEO of bankrupt cryptocurrency lender Celsius Network, was arrested and charged with fraud, a US prosecutor in New York said Thursday morning, as three federal regulatory agencies sued him and his company. Mashinsky, 57, was charged with seven criminal counts — including securities fraud, commodities fraud and wire … Read more
[ad_1] Britain’s Financial Conduct Authority said on Tuesday it has stopped 26 machines across the country for illegally offering cryptocurrencies, warning consumers they could lose all of their money. A member of the public paid a thousand pounds into a crypto ATM in Sheffield, northern England, in an attempt to buy cryptocurrencies, but no cryptocurrency … Read more
[ad_1] Commodity Futures Trading Commission (CFTC) investigators have concluded that bankrupt crypto lender Celsius and its former CEO Alex Mashinsky broke US rules before the firm’s implosion, Bloomberg News reported on Wednesday. Attorneys in the regulator’s enforcement unit determined that Celsius misled investors and should have registered with the regulator, according to the report, citing … Read more