The past actions of bad actors has forced the country’s regulators to take a tough stance on crypto exchanges. It’s a story that still haunts the early generation of Canadian crypto users to this day. Four years prior, Gerald Cotten, co-founder of Canada’s then-largest cryptocurrency exchange QuadrigaCX, died under mysterious circumstances in India. But, before…
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It’s not yet clear how the alleged criminal misconduct of a former employee led to a law enforcement freeze on users’ funds. On Thursday, cryptocurrency exchange Hotbit said it “suspended trading, deposit, withdrawal and funding functions,” with no timeframe for resumption. In explaining the decision, Hotbit stated: “A former Hotbit management employee who left in…
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Cryptocurrency exchange Nuri has filed for insolvency, reportedly becoming Germany’s first fintech to take the step in a challenging year for startups in the industry. Customer access to the platform’s services and their funds will not be affected, the company assured. Crypto Exchange Cites ‘Lasting Strain on Liquidity’ as Reason for Insolvency Filing Berlin-based crypto…
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July’s US consumer price index (CPI) has seen an annual rise of 8.5%, or smaller than expected, suggesting an inflation peak and potential cool-off, after hitting 9.1% in June. Bloomberg-surveyed economists estimated that inflation would show an 8.7% annual increase this July, and a 0.2% increase compared to June. Also, in July, annual core CPI…
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The monetary authority in Australia is beginning research into the potential economic benefits of issuing a central bank digital currency. Within the project, the regulator hopes to identify use cases and intends to develop a limited-scale pilot. Central Bank of Australia Working on Digital Currency Program The Reserve Bank of Australia (RBA) announced the launch…
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The crypto winter continues to claim victims, with German crypto exchange Nuri and Africa-based CoinFlex being the latest to make moves. Nuri GmbH, one of Germany’s largest crypto exchanges, has filed for insolvency with a Berlin court, the company said in an announcement on Tuesday…. Read More: Crypto Turmoil Latest: Nuri Files for Insolvency while…
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Authorities in Kazakhstan have launched an investigation into a mining hotel business suspected of being a crypto pyramid as part of an ongoing crackdown on illegal activities linked to cryptocurrencies. The platform, called Bincloud, lured investors through popular messaging apps. Bincloud Operators Kept 16% of Investors’ Funds for Themselves Amid intensified efforts to fight crypto-related…
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Following the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC) banning Tornado Cash and a number of associated Ethereum-based addresses, an anonymous Tornado Cash user has dusted a swathe of well known wallets tied to ENS domain names. Onchain data shows that a number of celebrities and organizations received 0.1 ether from the platform.…
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On August 8, the ethereum mixing service Tornado Cash, and all the crypto addresses associated with the platform, were officially banned by the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC). Following the ban, the internet hosting service for software and open source code development, Github, erased some of the Tornado Cash commits and…
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Marathon Digital, one of the biggest mining companies in the Bitcoin ecosystem, has posted its financial results corresponding to the second quarter of the year. The company revealed that even having increased its production by 8% when compared to Q2 2021, it recorded an impairment of $127.6 million on bitcoin holdings due to the fall…
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