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Sam Bankman-Fried Claims He Relied on Legal Advice in FTX Scandal
24.8.2023
Lawyers for Sam Bankman-Fried claim the FTX founder, who has fallen from grace, based his business decisions on legal advice from company attorneys before the cryptocurrency exchange’s downfall. FTX Founder Bankman-Fried Claims Actions Were Based on Legal Advice, Denies Fraudulent Intent In...
S&P Downgrades 5 Regional US Banks Amid Challenging Banking Environment
24.8.2023
On Monday, S&P Global Ratings slashed ratings for five U.S. regional banks, pointing to the strenuous operating atmosphere plaguing the sector since the year’s outset. The impacted banks include Associated Banc Corp., Comerica Inc., KeyCorp, UMB Financial Corp., and Valley National...
Brazil’s President Says BRICS Not Seeking to Counter US, G7, or G20 — Pushes for BRICS Currency
24.8.2023
Brazil’s President Luiz Inacio Lula da Silva has stated that the BRICS economic bloc does not want to be “a counterpoint to the G7, G20, or the United States,” emphasizing that the BRICS nations “just want to organize ourselves.” The Brazilian leader also pushed for “the creation of...
Xi Jinping: BRICS to Forge Stronger Partnership, People Do Not Long for New Cold War or Small Exclusive Bloc
24.8.2023
Chinese President Xi Jinping stated at the BRICS summit that “What people in various countries long for is definitely not a new Cold War or a small exclusive bloc.” He stressed that the BRICS group will expand and promote global multipolarity. “Hegemonism is not in China’s DNA; nor does China have...
Russian President Putin to BRICS Leaders: Irreversible Process of De-Dollarization Gaining Steam
24.8.2023
Russian President Vladimir Putin said at the BRICS summit that “A balanced, irreversible process of de-dollarization of our economic ties is gaining steam.” The Russian leader stressed: “We oppose hegemonies of any kind and the exceptional status that some countries aspire to, as well as the...
FBI Warns of North Korean Hackers’ Intent to ‘Cash Out’ $40M in Bitcoin
23.8.2023
On August 22, 2023, the FBI issued an alert, cautioning about North Korean hackers possibly trying to cash out bitcoin valued at over $40 million. U.S. Intelligence Flags Potential $40M Bitcoin Liquidation by North Korean Hackers The FBI is urging both public and private sectors to be vigilant...
Local Currencies Are Not Alternatives to the Dollar but the System, BRICS Bank Chair Says
23.8.2023
The development bank founded by the BRICS bloc of emerging economies aims to promote a multipolar financial system, its head, Dilma Rousseff, has indicated. As part of these efforts, the institution seeks to expand lending in local currencies, those of member states in particular, such the South...
Bitcoin Miners Navigate Record Challenges and August’s Dual Difficulty Hike
23.8.2023
Bitcoin miners faced another uphill battle this month, marking the second straight increase in mining difficulty. On August 22, at block height 804,384, the difficulty surged by 6.17%. This fresh peak in Bitcoin’s difficulty sets a new record, intensifying the challenge for miners...
Biggest Movers: BNB Rebounds From 1-Year Low, SHIB Surges Higher
23.8.2023
BNB was one of Wednesday’s biggest movers, as the token rebounded from a recent one-year low. The price decline came as crypto exchange Binance came under scrutiny for allegedly assisting sanctioned Russian clients in moving funds abroad. Shiba inu also rose, following recent losses....
Analyzing LBank IEO Historical Data and H1 2023 IEO Performance to Predict Upcoming LBank IEO
23.8.2023
PRESS RELEASE. Examining the historical data of past Initial Exchange Offerings (IEOs) could offer valuable insights into the anticipated outcomes, particularly pertinent in the lead-up to the imminent LBank IEO. This practice has gained prominence as both investment stakeholders and project teams...
An Adderall Shortage and No Vegan Meals — Former FTX Boss Struggles With Jail Life
23.8.2023
After Sam Bankman-Fried, once the head of FTX, petitioned the court for a five-day-a-week release from incarceration, the overseeing judge swiftly denied the plea. On Tuesday, Bankman-Fried pleaded not guilty in response to the most recent charges. Meanwhile, his legal team emphasized that he...
Bitcoin, Ethereum Technical Analysis: BTC, ETH Drop to 5-Day Lows, as Traders Await Fed’s Jackson Hole Symposium
23.8.2023
Bitcoin continued to sit firmly below the $26,000 level on Wednesday, after breaking out of a key price floor. The world’s largest cryptocurrency by market cap has mostly consolidated in recent days, as traders await Federal Reserve Chair Jerome Powell’s speech at Jackson Hole this...
AI-Powered Solutions Can Help Crypto Traders Overcome ‘Cognitive Biases’ When Investing — Libertify CEO
23.8.2023
According to Steve Rosenblum, the founder and CEO of Libertify, Artificial Intelligence (AI) driven investment solutions can assist investors in making “timely adjustments to asset allocation.” This means investors using such a solution will be able “navigate the volatile...
Thailand Threatens Facebook With Shutdown Over Crypto Scams
23.8.2023
The government in Bangkok will try to shut down Facebook in Thailand alleging the social media network isn’t doing enough to stop scams. Fraudsters have been luring users to invest in fake companies and cryptocurrencies, authorities said, and the number of complaints has been mounting. Meta...
Nigerian Crypto Trading Platform Unilaterally Converts User Funds to New Stablecoin — Move Sparks Exit Scam Fears
23.8.2023
A Nigerian crypto trading platform, Patricia, announced on Aug. 18 that it had converted users’ outstanding funds to its U.S.-backed stablecoin known as “Patricia Token.” Some social media users have slammed the crypto trading platform’s unilateral decision to convert...
BRICS Bank to Issue First Indian Rupee Bond — Plans to Boost Local Currency Lending
23.8.2023
The New Development Bank (NDB), also known as the BRICS Bank, is reportedly planning to issue its first Indian rupee bond by October. Last week, the bank issued its first South African rand bond. “NDB is seeking to increase its presence in the local capital markets of its member countries,...
Chinese Yuan Not Serious Threat to US Dollar Hegemony, Says Economist
23.8.2023
An economist has dismissed the Chinese yuan as a significant threat to the U.S. dollar’s dominance. “The Chinese renminbi, which accounts for less than 3% of global reserves, is not a serious threat to dollar hegemony,” he asserted, adding that “many commentators have...
Economist Peter Schiff Says Fed Policies Significantly Harm Economy — Warns of More Inflation
23.8.2023
Economist Peter Schiff has warned that the Federal Reserve has gotten its policies wrong for 20 years, which has “significantly harmed the economy and made dire consequences inevitable.” Emphasizing that the Fed cannot win its fight against inflation, he stressed: “The markets...
US Lawmaker Slams SEC’s ‘Reckless’ Rulemaking — Warns of ‘Lasting Economic Harm’
23.8.2023
A U.S. lawmaker has slammed the Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, for “pursuing a reckless, rushed rulemaking agenda with inadequate economic analysis and limited public input.” He warned that “the adverse consequences in one sector...
US Court Hands 3-Year Jail Sentence to Man Accused of Conspiring to Defraud Crypto Holders
23.8.2023
A U.S. court has sentenced a man accused of conspiring to defraud cryptocurrency owners to three years in prison. The court also ordered the man to pay $2,816,433 in restitution to 11 victims of his Subscriber Identity Module (SIM) swap fraud scheme. SIM Swap Fraud Scheme A United States district...