Page 10 - Cryptocurrency

Binance pleads guilty to US sanctions violation, will pay $4.3 bn fine

Zhao pleaded guilty Tuesday to violating the Bank Secrecy Act in federal court in Seattle. Richard Teng will succeed Zhao as CEO.

New Binance CEO Richard Teng's first job is to avert customer exodus

Teng, 53, succeeded Zhao as the chief executive of the world's largest crypto exchange after the company and Zhao pleaded guilty to US anti-money laundering and sanctions violations

US seeks over $4 billion from crypto exchange Binance to end criminal case

The US Justice Department has been investigating Binance for allegedly aiding in the evasion of US sanctions against Iran and Russia

Crypto wallet app Okto announces $5 mn treasury fund for Vauld users

Okto said it has introduced a 2 per cent bonus for users who choose to transfer their assets from Vauld to Okto

10 arrests made so far: Himachal Pradesh Dy CM Agnihotri on Crypto fraud

Himachal Deputy CM further appealed to the people not to invest in such frauds when even SEBI did not give clearance

Over 300 crypto fraud complaints received, will take action: Himachal Dy-CM

More than 300 complaints have been received from across Himachal Pradesh in connection with a multi-crore cryptocurrency ponzi scam, Deputy Chief Minister Mukesh Agnihotri said, referring to the fraud that began in the state in 2018. He had presided over a meeting on Friday to review the action being taken against the perpetrators, who cheated people by promising them high profits on investments within a short span of time, an official statement said. People should guard themselves from falling prey to such ponzi schemes and cryptocurrency frauds, Agnihotri said. "I am observing that complaints have been pouring in from various districts of the state wherein people have been cheated by the kingpin of the cryptocurrency fraud," he said, according to the statement issued on Saturday. He added that more than 300 complaints have been received by the police till date. Ten culprits from Mandi and two from Una have been arrested so far in connection with the case, Agnihotri said. Subhash

Crypto wrap: Bitcoin falls after Sam Bankman-Fried's conviction in the US

Cryptocurrency news: In the FTX trial's verdict its founder Sam Bankman-Fried was found guilty on all seven charges of criminal fraud in the US

FTX founder Bankman-Fried convicted of defrauding cryptocurrency customers

FTX founder Sam Bankman-Fried's spectacular rise and fall in the cryptocurrency industry a journey that included his testimony before Congress, a Super Bowl advertisement and dreams of a future run for president hit a new bottom Thursday when a New York jury convicted him of fraud in a scheme that cheated customers and investors of at least $10 billion. After the monthlong trial, jurors rejected Bankman-Fried's claim during four days on the witness stand in Manhattan federal court that he never committed fraud or meant to cheat customers before FTX, once the world's second-largest crypto exchange, collapsed into bankruptcy a year ago. His crimes caught up to him. His crimes have been exposed, Assistant US Attorney Danielle Sassoon told the jury of the onetime billionaire just before they were read the law by Judge Lewis A Kaplan and began deliberations. Sassoon said Bankman-Fried turned his customers' accounts into his personal piggy bank as up to $14 billion disappeared. She urge

Crypto-exchange CoinDCX releases its Proof of Reserve report Q3CY23

"According to the audited Statement of Reserves and User Liability report, the reserves total USDT 159,112,287, while the user liability stands at USDT 157,191,487," the company said

Crypto platform Giottus announces zero-fee trades for all customers

This move is expected to enable Indian crypto traders and investors to plan their trades with ease and, in turn, improve their profitability

WTO member nations need to discuss crypto under e-comm negotiations: GTRI

The member countries of WTO (World Trade Organisation) should include issues pertaining to crypto currency while negotiating any agreement on the e-commerce sector, think tank GTRI said on Monday. As the crypto market garners increasing global attention, its classification under the WTO e-commerce framework remains ambiguous, Global Trade Research Initiative (GTRI) said. It added that the debate should pivot on whether exchanges of crypto-currency fall under 'electronic transmissions' in the e-commerce scope. "With the multifaceted dynamics of the e-commerce landscape, the outcomes of the ongoing WTO negotiations hold significant implications for global digital trade. "The inclusion or exclusion of crypto-currencies and the diverse positions of influential nations will shape the future of international e-commerce policies," GTRI Co-Founder Ajay Srivastava said. At present, the WTO members are holding two-pronged e-commerce negotiations (joint initiative and e-commerce moratorium)

SIT conducts searches at 41 locations in Himachal in cryptocurrency scam

The SIT probing the alleged multi-crore cryptocurrency scam conducted searches at 41 different locations in Himachal Pradesh on Sunday and arrested one of the main accused Abhishek Sharma, who was evading arrest, police said on Sunday. Abhishek, a resident of Una district was one of the main four accused in the scam that started in 2018 when the alleged fraudsters approached people with an investment plan related to a locally made (Mandi district) cryptocurrency known as "Korvio Coin" or KRO coin, police said. Earlier, two main accused Sukhdev and Hemraj were held in Gujarat, and during investigations, the duo confessed they have outstanding liabilities of Rs 400 crore. The alleged kingpin of the scam, Subash, is still at large and is reportedly hiding in Dubai. Abhishek was apprehended by the SIT and produced in a court, which remanded him to five-day police custody, a statement issued by the police said. Searches were conducted at 25 places in Hamirpur, seven in Kangra, four in .

Crypto unicorn CoinDCX expects govt to lower tax that crushed trading

The company reduced staff by 12% earlier in 2023 and now has around 550 employees. Operating revenue and cash in the bank give CoinDCX a five-year "runway," Gupta said

Crypto wrap: Bitcoin rallies 14%, Ethereum up 11% amid ETF optimism

A Bitcoin ETF is expected to make buying and selling Bitcoin easier through the stock market

At $35,198, Bitcoin climbs to highest since May 2022 on ETF excitement

A Bitcoin ETF is expected to make buying and selling Bitcoin easier through the stock market

Cryptocurrency worth $930,000 seized by CBI from Ahmedabad-based man

The CBI has seized cryptocurrency worth more than USD 930,000 (around Rs 7.7 crore) from an Ahmedabad-based man who allegedly cheated a US-citizen posing as a senior executive of a multi-national company's fraud department, officials said. Based on inputs from the Federal Bureau of Investigation (FBI) of the United States, the CBI filed an FIR against Ramavat Shaishav, who allegedly contacted the US citizen over the phone and introduced himself as "James Carlson" from the fraud department of Amazon, they said. During searches, the CBI found 28 Bitcoin, 55 Ethereum, 25,572 Ripple and 77 USDT in Shaishav's e-wallet. These were transferred to the government's wallet at the time of the seizure, the officials said. He allegedly convinced the victim that his account on Amazon was being accessed by unscrupulous elements, and that his social security was being used from four different states to open accounts on the e-commerce platform. "It was also alleged that the accused induced the vict

RBI Governor Shaktikanta Das sticks to stand on crypto assets ban

G20 recently adopted road map on such assets

Bitcoin hits two-month high above $30,000 in volatile trading week

Bitcoin, the largest cryptocurrency by circulation, climbed as high as $30,022, its highest since July 23. It was last up 4% on the day

India's crypto landscape on verge of transformation, says WazirX VP

Rajagopal Menon, vice president at WazirX, discusses the impact of recent G20 agreements on India's evolving crypto industry and predicts a transformative year ahead

Over 1,000 HP cops fell victim to crypto fraud, quit jobs to promote it

Over a thousand police personnel fell victim to a fake local cryptocurrency created by fraudsters in Himachal's Mandi district, an official said on Thursday. A majority of the police personnel who invested in the fake cryptocurrency were duped of crores of rupees, but some of them made huge gains, became promoters of the scheme, and roped in more investors for it, according to investigators of the Special Investigation Team (SIT) constituted to probe the scam. According to police, at least one lakh people have been duped by the fraudsters in the cryptocurrency fraud, and 2.5 lakh IDs have been found which included multiple IDs of the same person. To get investors, the scammers launched two cryptocurrencies 'Korvio Coin' (or KRO) and DGT Coin' and created fake websites with manipulated prices of these digital currencies. They lured the initial investors by promising them high returns in a short span of time. They also created a network of investors, who further expanded the chain