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Economists Say Fed Could Shrink Balance Sheet in 2023, Critics Insist Central Bank Hasn’t Reduced QE at All
26.7.2022
With inflation soaring in the U.S., economists from monetary policy analytics and forecasting firm LH Meyer say the U.S. Federal Reserve could stop shrinking its balance sheet earlier than expected. However, critics have said the U.S. central bank hasn’t really shrunk the Fed’s...
Biden Administration Accused of Propaganda and ‘Redefining’ a Recession’s Technical Definition
25.7.2022
After people have accused bureaucrats and government agencies of changing definitions during the last few years, Joe Biden’s administration now claims that a second consecutive quarter of negative gross domestic product (GDP) does not indicate the U.S. is in a recession. This is despite...
Tax Collector Wants $55 Million From Collapsed Bitcoin Ponzi Scheme MTI — Liquidators Accused of Failing Their Duty
24.7.2022
In a fresh twist to the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) saga, revenue collector South African Revenue Services (SARS) has demanded $55.3 million from the scheme’s liquidators. The revenue collector added that it wants the tax bill settled before the...
Accused Bitfinex Bitcoin Money Launderer Granted Permission to ‘Engage in Legitimate Employment’
16.7.2022
On February 8, 2022, the U.S. Department of Justice (DOJ) arrested a couple that is accused of laundering 94,636 bitcoins stolen from Bitfinex in 2016. The DOJ alleges that the tech entrepreneur, Ilya Lichtenstein, and his wife Heather Morgan, conspired to launder billions of dollars worth...
Court Grants Three Arrows Creditors Emergency Hearing as Founders Accused of Not Cooperating With Liquidation Proceeding
11.7.2022
Three Arrows Capital’s Su Zhu and Kyle Davies are said not to be cooperating as fears mount that the fund’s remaining assets could be “transferred or otherwise disposed of” before creditors get their share
Report: Nigerian Fintech Giant Flutterwave Accused of Laundering Money, More Than 50 Bank Accounts Frozen
8.7.2022
A Kenyan agency charged with tracing and freezing proceeds of crime said it recently obtained an order giving it the authority to freeze bank accounts belonging to Nigerian fintech Flutterwave. The agency alleges that Flutterwave is not providing merchant services as per claims, but is instead...
Celsius Accused of Fraud in Lawsuit by Ex-Employee
8.7.2022
The roughed-up crypto lender froze withdrawals last month and later said it was exploring restructuring options
Solana Labs, Multicoin Accused of Violating Securities Law by SOL Investor
7.7.2022
A California resident alleged that Solana Labs, the Solana Foundation and other key players violated federal securities laws
Twitter User Accuses Nexo of Embezzlement Through Charity, Crypto Lender Denies Allegations
28.6.2022
A Twitter account has accused the Bulgarian co-founders of the Swiss-based cryptocurrency lender Nexo of misappropriating funds from a charity platform. The company has rejected the allegations in the anonymous attack, which comes after Nexo offered a buyout deal to troubled rival Celsius....
Reports Claim Russia Defaulted on Foreign Debt for the First Time in a Century, Kremlin Disagrees and Says It Paid
27.6.2022
According to reports, the Russian Federation has defaulted on its foreign debt for the first time since 1918. Bondholders told the press that they had not received payments from the transcontinental country. However, Russia’s finance ministry denies the allegations and says the country made...
Hardware Worth $1.9 Million Stolen in Russia’s Crypto Mining Capital
25.6.2022
Russian law enforcement is looking into the alleged theft of mining hardware valued at around $1.9 million. The powerful computing equipment disappeared from a crypto mining hotel in Irkutsk, the owners of which have been accused of large scale fraud. 100 Russians Lose Mining Machines Worth...
Kenyan Law Enforcement Agency Arrests Two Students Accused of Using Stolen Funds to Buy BTC
18.6.2022
Two Kenyan students accused of hacking credit cards and using the ill-gotten funds to buy bitcoin have been arrested by the Directorate of Criminal Investigations, a statement from the law enforcement agency has said. After converting the cryptocurrency to local currency, the two students would...
Bitcoin Fraud-Accused South African Radio Presenter Threatens Legal Action
14.6.2022
Following accusations that he defrauded investors in his bitcoin investment scheme, the South African radio presenter Sebasa Mogale has said he will take legal action against individuals that have reported him to the police. His lawyer insisted that no evidence will be found because Mogale never...
Binance.US Accused of Misleading Investors in Class Action Lawsuit Over Terra
13.6.2022
A class action lawsuit has been filed against Binance US on accusations that it misled investors and that it listed an unregistered security in UST
Do Kwon Accused of Cashing out $2.7B Before UST Collapse, Terra Founder Says Allegations Are False
13.6.2022
Terra’s new LUNA 2.0 token has lost 54% in value in the last two weeks, after reaching $11.33 per unit on May 30. Meanwhile, the whistleblower Fatman has accused Terra’s co-founder Do Kwon of cashing out $2.7 billion a few months before the UST de-pegging incident. Kwon, however,...
Nigerian Court Sentences Crypto Fraudster to One Year in Jail, Accused Given Option to Pay Fine
11.6.2022
A Nigerian court has convicted and sentenced a man to one year in prison who is accused of duping an unsuspecting cryptocurrency investor. On its charge sheet, the prosecution said that the man had contravened Nigeria’s anti-fraud laws and hence should be punished accordingly. Fake...
Report: Microsoft Kinect Creator Resigns After Being Accused Of Watching ‘VR Porn’ At Work
9.6.2022
Alex Kipman, a longtime Microsoft executive, is leaving the company after 21 years due to numerous misconduct allegations, Insider reports. The accusations include inappropriately touching female employees and watching what one witness described as “VR porn” at work.Read more
Director of Listed Chinese Company Embezzles $8 Million, Uses Funds to Purchase Bitcoin Mining Rigs
7.6.2022
A Chinese prosecutor is reported to have given a thumbs up to the arrest of a listed big data company director accused of embezzling $8 million and using the funds to buy bitcoin mining rigs. Although Li Qunnan has denied the allegations, executives insist their evidence implicates him....
Bulgarian Chief Prosecutor Accused of Willfully Failing to Act Against Onecoin Fraudsters
3.6.2022
The legal representative of victims of the Onecoin bitcoin scam operation, Jonathan Levy, has accused the Bulgarian prosecutor of deliberately failing to take action against Onecoin. The lawyer said due to the prosecutor’s inaction, more victims are losing millions of dollars to...
Bitcoin bond still on hold, El Salvador accused of human rights violations
3.6.2022
El Salvador’s finance minister believes the ongoing price volatility of Bitcoin means the awaited “Bitcoin bond” won't be launched anytime soon. Meanwhile the country faces a “human rights crisis.”