News – Page 54

Kraken Pushes European Expansion with Acquisition of BCM

Kraken, an already prominent virtual currency exchange network, just declared its intention to acquire Coin Meester B.V. (BCM) This strategic acquisition aims to cement Kraken’s foothold in the European region while enhancing compliance with the changing regulatory climate. BCM was established in 2017 and has already amassed a reputation as one of the oldest and most trusted registered crypto brokers in the Netherlands. Through this collaboration, Kraken plans to bring higher security measures, better liquidity, and live client support available 24/7 for BCM clients.

Source: Wayne Jones, 2023-10-07; https://cryptopotato.com/kraken-pushes-european-expansion-with-acquisition-of-bcm/

We Asked ChatGPT How High Can Bitcoin Go During the Next Bull Market

Bitcoin’s price has been on the move throughout the past 24 hours and managed to increase to around $28,000. This comes on the back of millions worth of liquidated short positions and an increased trading volume across the board. As the market sentiment betters, we decided to take the opportunity to poke ChatGPT’s artificial brains on a matter that many are curious about – how high can Bitcoin’s price get throughout the next bull run? But before that, it’s important to answer another important question. When will the Bitcoin bull run start in the first place?

Source: George Georgiev, 2023-10-02; https://cryptopotato.com/we-asked-chatgpt-how-high-can-bitcoin-go-during-the-next-bull-market/

FTX Hijacked Customer Funds As Early As 2019, Says Co-Founder

FTX co-founder Gary Wang revealed more details of Alameda Research’s corrupt relationship with his exchange on Friday. Wang claimed that the function required for Alameda to steal client funds had been baked into FTX’s computer systems back in 2019. As Wang had , Alameda could withdraw unlimited funds from FTX. This feature was later exploited to withdraw $8 billion worth of fiat and crypto beyond what the trading firm held in its account – roughly the same FTX faced when failing to fulfill client withdrawal requests last November.

Source: Andrew Throuvalas, 2023-10-07; https://cryptopotato.com/ftx-hijacked-customer-funds-as-early-as-2019-says-co-founder/

World’s Leading P2P Platform Leaves Russia

Binance, the world’s largest cryptocurrency exchange, announced on Wednesday that it has initiated the process of selling its Russian operations. “Binance has entered into an agreement to sell the entirety of its Russia business to ,” the company said in a statement. Binance emphasized that, while financial details of the transaction would not be disclosed, it is essential to note that “with this sale, Binance is fully exiting Russia” The exchange business said that it would ensure a smooth transition for existing Russian customers during the off-boarding process.

Source: Written by Zdravko Ljubas, 2023-10-02; https://www.occrp.org/en/daily//en/daily/18081-world-s-leading-p2p-platform-leaves-russia

CFTC Targets Mosaic Exchange Limited in Alleged Crypto Fraud Case

The US commodities regulator has targeted yet another crypto exchange for allegedly running a ‘fraudulent’ digital asset commodity scheme. The Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the US District Court for the Southern District of Florida against Pennsylvania-headquartered Mosaic Exchange Limited. The CFTC alleged that Mosaic and its operators fraudulently solicited and induced at least 17 people to give them hundreds of thousands of dollars worth of bitcoin or other funds.

Source: Chayanika Deka, 2023-10-02; https://cryptopotato.com/cftc-targets-mosaic-exchange-limited-in-alleged-crypto-fraud-case/

Cardano Maintains Dominance in Developer Activity Charts with Impressive Score: Data

Cardano topped the chart for developer activity over the past 30 days with an impressive score of 572. The network continues to eclipse several prominent projects such as Polkadot, Hedera, Chainlink, and Cosmos. Cardano has faced a setback in the second half of 2023 due to regulatory concerns or fierce competition from layer-2 networks such as Base, Arbitrum, and Optimism. The third-generation decentralized proof-of-stake (PoS) platform has been quiet amidst a market-wide downturn.

Source: Chayanika Deka, 2023-10-04; https://cryptopotato.com/cardano-maintains-dominance-in-developer-activity-charts-with-impressive-score-data/

Romance Scams Broke Hearts and Stole Millions from U.K. Victims

British authorities have reported that people in the U.K. lost more than US$113 million last year in so-called “romance scams” A perpetrator creates a fake identity, gains the victim’s affection and trust and then empties his or her bank account. Swindlers can find fertile ground for their scams on dating apps, sites, and social media platforms where individuals seek love and affection. This type of scam can often be a long-term project for the perpetrators as they spend time get get people to trust them.

Source: Written by Erika Di Benedetto, 2023-10-05; https://www.occrp.org/en/daily//en/daily/18096-romance-scams-broke-hearts-and-stole-millions-from-u-k-victims

Spain Busts VAT Fraud Network, Detains 49 in Multi-Million Euro Scam

The investigation began in 2021 when authorities detected three cases of fraudulent activities involving VAT spanning from 2019 to 2021. Law enforcement soon uncovered that a criminal network in Spain was facilitating the purchase and sale of used luxury vehicles between German and Portuguese companies. The network sold and purchased high-end luxury vehicles through a complex system of fake companies to avoid paying VAT and provided services to other criminal syndicates associated with drug trafficking. They exploited the —an European law that allows specific tax arrangements related to second-hand goods, works of art, collector.

Source: Written by Erika Di Benedetto, 2023-10-02; https://www.occrp.org/en/daily//en/daily/18082-spain-busts-vat-fraud-network-detains-49-in-multi-million-euro-scam

Italian Police Targets EU Fund Fraud, Seize Millions in Transhumance Scam

Italian Financial police say they have targeted a criminal syndicate whose members were stealing millions of euros. Officers targeted 75 individuals, conducted 16 searches in several regions of Italy, seizing items relevant to the two-years-long probe. Investigators believe that a criminal group with ties to the Mafia is misusing national and EU public funds. The illicit activities allegedly revolved around fraudulent claims for grants from the European Union for agricultural development. The syndicate allegedly forged papers to prove they were allowed to use municipal land for agricultural production.

Source: Written by Erika Di Benedetto, 2023-10-02; https://www.occrp.org/en/daily//en/daily/18074-italian-police-targets-eu-fund-fraud-seize-millions-in-transhumance-scam

Is ETH on the Verge of a Rally to $2K? Bulls Need to Be Careful Around This Level (Ethereum Price Analysis)

Einsteinia experienced an extended consolidation phase near the $1.6K support level. The price surged towards the 100 and 200-day moving averages, located around $1765 and $1805, respectively. If the price is rejected within this range, it could indicate a valid pullback, potentially leading to another decline. Alternatively, if Ethereum buyers successfully push the price above this crucial region,. it could revive bullish sentiment and pave the way for further market appreciation. The cryptocurrency market recently experienced a sudden surge in different assets, including.

Source: CryptoVizArt, 2023-10-03; https://cryptopotato.com/is-eth-on-the-verge-of-a-rally-to-2k-bulls-need-to-be-careful-around-this-level-ethereum-price-analysis/

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