Russia-linked cryptocurrency exchange Bitzlato has begun processing withdrawals of digital assets belonging to its customers. The trading platform was shut down in an operation carried out by law enforcement agencies in the U.S. and Europe alleging that it had been used to launder dirty money. Bitzlato Allows Withdrawals After Staying Offline for Weeks Users who…
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A total of five crypto companies ended their partnership with Silvergate Bank on March 2 after a series of lawsuits and investigations against the bank. Silvergate Bank — a prominent lender to crypto firms — lost five partners on March 2 due to a slew of investigations and lawsuits against it. Coinbase, Paxos, Gemini, BitStamp…
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The establishment of Russia’s first mutual investment fund dedicated to financing cryptocurrency mining operations is underway. According to a report by the Russian press, it will be available to qualified investors and will finance the acquisition of coin minting equipment. Russian Crypto Mining Sector to Attract Shareholders Through Investment Fund Work has begun to set…
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FTX and FTX US together have billions in deficits in their exchange wallets and fiat accounts, uncovered in a “huge effort” according to the exchange’s CEO. Bankrupt cryptocurrency exchange FTX has revealed a “massive shortfall” in its digital asset and fiat currency holdings, with billions worth of customer funds missing from both the exchange and…
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The bill authored by a Republican state legislator would prevent the use of cryptocurrency as a medium of exchange starting July 1, 2024. Legislation has been introduced in the American state of South Dakota to amend the Uniform Commercial Code (UCC) to limit the definition of money to exclude cryptocurrencies. Central bank digital currencies (CBDCs)…
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The company says users’ losses will be 100% reimbursed by mid-March. According to an official Telegram statement on March 1, Singaporean cross-chain crypto wallet developer BitKeep says it has reimbursed 50% of user assets lost during a security breach stemming from Dec. 26, 2022. On the date of the incident, an estimated $8 million was…
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Crypto classes organized for Ukrainians have begun on a government-run portal, a minister announced. More than 20,000 people have registered for the educational course in the war-torn country which maintains an objective to become “the best crypto jurisdiction.” Thousands of Ukrainians to Study About Bitcoin, Mining, and Smart Contracts Ukraine’s ‘Дія. Цифрова освіта’ (Diia Digital…
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A bank in Russia has issued the country’s first blockchain-based bank guarantee denominated in Chinese currency. The financial institution underscored the advantages of using a digital form of the document and pointed out that demand for yuan payments is growing. MKB Employs Bank of Russia’s Masterchain to Issue Bank Guarantee in Yuan Moscow Credit Bank…
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Crypto donations collected by the government in Kyiv since the start of the Russian invasion have amounted to almost $70 million, according to Chainalysis. Ether has been the most donated crypto followed by bitcoin and the stablecoin tether, the blockchain intelligence firm said in a report. Ukraine Receives Millions of Dollars in Various Coins From…
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One bank accounts for almost 62% of all crypto-asset prudential exposure, and almost two-thirds of banks holding crypto are in the Americas. Around 20% of banks have exposure to crypto assets, a Bank for International Settlements (BIS) report released Feb. 28 found. The majority of those banks are in the Western Hemisphere. According to the…
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