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Bitcoin is expected to trade within a narrow range this quarter, according to Michael Novogratz, founder of Galaxy Digital Holdings Ltd. “Bitcoin, ethereum and everything else, solana will consolidate,” he said last week, adding that it means BTC will probably trade “somewhere between $55,000 and $75,000 until the next set of circumstances, the next set … Read more
The UK government announced this week that the Insolvency Service has secured a winding-up order against cryptocurrency advisory firm Amey Finance Academy Ltd at the High Court. The company, created by Desmond Amey in 2018, claimed to offer investment advice and financial education. However, complaints emerged that consumers lost money, and the Financial Conduct Authority … Read more
The World Bank has announced that it will issue its first CHF digital bond on June 11. This 7-year, CHF 200 million ($219 million) bond is the largest CHF issuance by the World Bank since 2009. It utilizes distributed ledger technology and settles using Swiss Franc wholesale central bank digital currency (CBDC) from the Swiss … Read more
An indictment unsealed in the Central District of California charges two Chinese nationals, Daren Li and Yicheng Zhang, with leading a scheme to launder at least $73 million tied to an international crypto investment scam, often known as “pig butchering.” Li and Zhang allegedly managed a global network that laundered proceeds from fraudulent crypto investments, … Read more
Crypto lender Genesis Global obtained court approval Friday to return approximately $3 billion to its customers as part of its bankruptcy liquidation. U.S. Bankruptcy Judge Sean Lane approved Genesis’ Chapter 11 plan, overruling an objection from its equity owner, Digital Currency Group (DCG), which argued that repayments should be based on January 2023 cryptocurrency values. … Read more
Binance’s Financial Crimes Compliance Department recently collaborated with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office on a significant cryptocurrency-assisted money laundering case involving nearly NT$200 million (approximately US$6 million). The criminal operation had been laundering money through virtual assets by creating fake customer records and forged identity data. Law enforcement … Read more
Dolce & Gabbana USA Inc. faces a lawsuit from a customer who claims the non-fungible tokens (NFTs) he bought for $6,000, which included metaverse outfits, lost 97% of their value due to delivery failures by the luxury fashion house. The complaint, filed in Manhattan federal court, alleges the NFTs were promoted with various digital, physical, … Read more
The Ontario Securities Commission (OSC) announced on May 15 that two Ontario residents have been charged with offenses under the Criminal Code of Canada as part of Project Swan, a joint investigation by the Durham Regional Police Service (DRPS) and the OSC. Aiden Pleterski, self-proclaimed “Crypto King,” is charged with fraud over $5,000 and laundering … Read more
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster Payment System (FPS), marking the first global linkage of a faster payment … Read more
Juno Finance acknowledges the disruption in banking services and is collaborating with its brokerage and banking service providers, Synapse and Evolve Bank & Trust, to restore full service as soon as possible. Juno is a financial platform that integrates checking and savings accounts with cryptocurrency trading. “Currently, Evolve Bank & Trust has frozen all card … Read more
