News – Page 39

Turkish Cypriot Lawyer Pleads not Guilty for Usurping Greek Cypriot Land

Kürşat was extradited from Italy, where he was arrested on New Year’s Eve. He is accused of providing legal counsel to Gary Robb, a British national, who was convicted of fraud in 2011. The court released him on bail after he pledged a 75,000 euros (US$80,685) bond. The Greek Cypriot owners of those properties were displaced in 1974 by Turkey’s military when it took control of the island’s north in response to a Greek-backed coup aimed at annexing the whole island with Greece.

Source: Written by Esra Aygin, 2024-02-10; https://www.occrp.org/en/daily//en/daily/18458-turkish-cypriot-lawyer-pleads-not-guilty-for-usurping-greek-cypriot-land

EU, UK Impose New Sanctions on Putin’s Regime

The sanctions were imposed against 106 individuals and 88 entities responsible for perpetuating what the Council of the EU described as an illegal, unprovoked, and unjustified war of aggression. Those designated will be subject to an asset freeze, while EU citizens and companies are now prohibited from providing funds to them. The EU is “further tightening the restrictive measures against Russia’s military and defense sector, targeting further entities in third countries who supply equipment,” Josep Borrell, High Representative for Foreign Affairs and Security Policy, said.

Source: Written by Zdravko Ljubas, 2024-02-25; https://www.occrp.org/en/daily//en/daily/18501-eu-uk-impose-new-sanctions-on-putin-s-regime

FCA Sounds Alarm on Crypto Promotions: 450 Alerts Issued in 3 Months

The Financial Conduct Authority (FCA) has issued 450 warnings to companies unlawfully promoting cryptocurrency assets. The regulatory agency is currently collaborating with technology firms to eliminate and block unauthorized advertisements across various platforms like websites, mobile apps, and social media accounts. This effort led to the removal of 35 apps from App Stores by the end of December 2023. The FCA disclosed about reviewing 44 crypto firms, both registered for anti-money laundering purposes and unregistered ones with promotions approved by an FCA-authorized individual.

Source: Chayanika Deka, 2024-02-19; https://cryptopotato.com/fca-sounds-alarm-on-crypto-promotions-450-alerts-issued-in-3-months/

Large Bitcoin Investors Persist in Accumulation as Short-term Holders Begin to Sell: CryptoQuant

Large entities’ total bitcoin (BTC) holdings have grown to a level last seen in July 2022 due to their unwavering accumulation of the digital asset. Analysts said large investors expanding their holdings correlate with BTC’s higher prices as they indicate increasing demand for investment purposes. Some large entities accumulating BTC are the new spot Bitcoin exchange-traded funds (ETFs) They have become a primary demand source for the leading digital asset, holding approximately 300,000 BTC at the time of writing.

Source: Mandy Williams, 2024-02-25; https://cryptopotato.com/large-bitcoin-investors-persist-in-accumulation-as-short-term-holders-begin-to-sell-cryptoquant/

Transparency International: Weak Justice Systems Help Corruption Grows

Corruption will continue to thrive until justice systems can punish wrongdoing and keep governments in check, according to Transparency International. The organization noted that the majority of countries have shown minimal to no improvement in tackling public sector corruption. It warned that the rise in impunity for corruption is fueled by both authoritarian regimes and democratic leaders undermining justice. “Leaders should fully invest in and guarantee the independence of institutions that uphold the law and tackle corruption,” said Transparency’s CEO, François Valérian.

Source: Written by Zdravko Ljubas, 2024-02-01; https://www.occrp.org/en/daily//en/daily/18425-transparency-international-weak-justice-systems-help-corruption-grows

Core Scientific Successfully Emerges from Chapter 11 with Enhanced Financial Position

Bitcoin miner Core Scientific has completed its reorganization and is coming out of Chapter 11 with an improved financial position. The company said it anticipates initiating the listing of its common stock, tranche 1 warrants, and tranche 2 warrants on the Nasdaq Global Select Market under the symbols CORZ, CORZW, and CORZZ, respectively, starting from January 24, 2024. According to the official , Core Scientific said the recently implemented reorganization plan resulted in a $400 million reduction in its debt, achieved through the conversion of debt from equipment lenders and convertible note holders into equity.

Source: Chayanika Deka, 2024-01-25; https://cryptopotato.com/core-scientific-successfully-emerges-from-chapter-11-with-enhanced-financial-position/

73% of European Residents Are Confident in Crypto’s Future: Survey

A Binance Survey targeting users in France, Italy, Spain, and Sweden found 73% of respondents are positive about the future of digital assets. Results revealed a trend of optimism, exclusive engagement with crypto assets, surging , growing trust, and increasing utility. Around 24 per cent of respondents also revealed more than half of their total trading activities involve crypto. The world’s largest crypto exchange surveyed 10,498 individuals from the selected countries between October 14 and November 8, 2023.

Source: Mandy Williams, 2024-01-29; https://cryptopotato.com/73-of-european-residents-are-confident-in-cryptos-future-survey/

International Operation Targets Notorious LockBit Ransomware Group

LockBit operated on a “ransomware-as-a-service’ model, providing a platform for a global network of hackers to launch attacks. Law enforcement agencies infiltrated LockBit’s primary platform and critical infrastructure, including 34 servers located in multiple countries such as the Netherlands, Germany, Finland, France, Switzerland, Australia, the United States, and the United Kingdom. The international crackdown was the result of a complex investigation led by the NCA, as part of Operation Cronos.

Source: Written by Zdravko Ljubas, 2024-02-22; https://www.occrp.org/en/daily//en/daily/18494-international-operation-targets-notorious-lockbit-ransomware-group

SEC Delays Decision on Invesco-Galaxy Spot Ethereum ETF Proposal

The United States Securities and Exchange Commission (SEC) has again delayed its decision on whether to approve or not a joint spot Ethereum exchange-traded fund (ETF) proposed by Invesco and Galaxy Digital. This marks the second postponement after a similar in December and aligns with the SEC’s recent trend of pushing back deadlines for Ethereum ETF proposals. Similar to its inquiry with Grayscale, the SEC raised questions regarding the proof-of-stake mechanism and the potential for concentration of control or influence.

Source: Wayne Jones, 2024-02-08; https://cryptopotato.com/sec-delays-decision-on-invesco-galaxy-spot-ethereum-etf-proposal/

CleanSpark Anticipates Doubling Operating Hash Rate Ahead of Bitcoin Halving

CleanSpark Inc. has unveiled plans to increase its operating hash rate. The company aims to double its hash rate in preparation for the upcoming Bitcoin halving event. In light of this, the firm has revealed strategic acquisitions and expansion initiatives to enhance its mining capabilities and geographic reach. The firm plans to acquire three turnkey Bitcoin mining facilities in Mississippi for a total cash payment of $19.8 million. These acquisitions, expected to close within 21 days, are projected to increase the company’s operational hash rate substantially.

Source: Wayne Jones, 2024-02-12; https://cryptopotato.com/cleanspark-anticipates-doubling-operating-hash-rate-ahead-of-bitcoin-halving/

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