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Following reports that the crypto payments firm Wyre was shutting down operations, CEO Ioannis Giannaros offered a contradicting story, stating that the firm was merely “scaling back.” Wyre has now announced that it is “modifying” its withdrawal policy, citing the crypto industry downturn and the “macroeconomic climate” as factors that have affected the company. On … Read more
Venezuelan Banks have started eyeing the accounts of customers with ties to cryptocurrency trading, principally related to peer-to-peer (P2P) transaction activity. According to Legalrocks, a crypto and blockchain-focused legal firm in Venezuela, more than 75 accounts have been blocked by Venezuelan private banks for facilitating crypto-to-fiat and fiat-to-crypto conversions since the end of 2021. Venezuelan … Read more
Authorities in Manitoba are temporarily suspending the connection of new crypto mining facilities to the power grid. The Canadian province, which relies heavily on hydroelectric generation and attracts miners with low electricity rates, fears it may face overwhelming energy demand. Manitoba Suspends New Crypto Mining Operations Citing Possible Increase in Electricity Usage The government of … Read more
Cryptocurrency exchange Bitfront has announced its intention to cease operations in the coming months, citing challenges facing the industry. The U.S. trading platform, backed by Japan’s social media giant Line, indicated the decision is unrelated to the collapse of FTX. Line-Supported Digital Asset Exchange Bitfront Suspends New Sign-ups Bitfront, a crypto exchange operating in the … Read more
Australia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto exchange FTX until mid-May. According to an issued statement, the platform will be allowed to provide limited financial services until Dec. 19 in order to terminate existing derivatives. FTX Australia Sees License Suspended After Accepting Voluntary Administration The Australian Securities … Read more
A string of organizations competing in various sports are pulling out of sponsorship deals with beleaguered cryptocurrency exchange FTX. The coin trading platform had pledged millions of dollars to building up brand recognition among sports fans before it went bankrupt. FTX Sign Being Dismantled as Miami Heat Seeks New Naming Rights Partner for Its Arena … Read more
United-States-based Twitter users had been reporting suspicious data access requests from FTX.US to their bank accounts. Go to Source Powered by WPeMatico
Leading cryptocurrency lender Nexo has offered to buy distressed competitor Vauld, which halted operations in the face of financial difficulties. The proposal comes after the Singapore-based company said it was exploring restructuring options. Nexo Secures Exclusive Agreement to Explore Vauld’s Acquisition Singapore-based crypto lending and trading platform Vauld, which announced suspension of withdrawals and other … Read more
Bankoff, a platform offering virtual cards that could be topped up with cryptocurrency, has told customers its cards are no longer supported by payment systems Visa and Stripe. They allowed Russians to pay abroad after major processors restricted their services in the country. Visa and Stripe Halt Support for Bankoff Cards Payment processors Visa and … Read more
Remittance giant Western Union has joined other financial services companies supporting sanctions in response to Russia’s invasion of Ukraine. The decision will affect customers in the Russian Federation as well as those in Belarus, an ally of Moscow, backing its military operation. Western Union Condemns Invasion of Ukraine, Halts Services in Russia and Belarus Money … Read more
