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Bank of America Faces Scrutiny After Coinbase User Alleges the Bank Closed His Account Over Bitcoin Transactions
15.7.2023
Bank of America has come under scrutiny after a Coinbase user claimed that the bank closed his account over Bitcoin transactions. Coinbase CEO Brian Armstrong quickly addressed the issue, asking other users if they have encountered the same problem with Bank of America. Coinbase’s CEO Raises...
Argentina Allows Banks to Open Yuan Accounts — Economist Says It Could Boost Chinese Currency as Safe Haven Alternative to US Dollar
2.7.2023
The central bank of Argentina has officially included the Chinese yuan as a recognized currency for making deposits in bank accounts. “Opening yuan accounts could attract more people and enterprises to exchange Argentinian peso to yuan, as more or less a ‘safe haven’ currency, instead of exchanging...
Report: Binance Controlled Bank Accounts Belonging to Its US Affiliate Between 2019 and 2020
6.6.2023
Between 2019 and 2020, crypto exchange Binance controlled bank accounts belonging to its U.S. affiliate including one holding funds of American clients, a new Reuters report has said. According to the report, employees of the crypto exchange’s U.S. affiliate had to get Binance executive...
Binance Executive Controlled Bank Accounts Belonging to U.S. Wing in 2019-20: Reuters
5.6.2023
Binance.US has always claimed to be independent from Binance, a stance that may come under scrutiny following this news
Even Licensed Firms Say Opening Bank Accounts Is Hard in Hong Kong
17.5.2023
Hong Kong has said it wants to be a crypto hub but its banks are rejecting account opening applications
Musk on ‘Massive Incentive’ to Get Money Out of Banks, Dave Ramsey Dismisses De-Dollarization Fears, BTC Network Congestion Eases, and More — Week in Review
14.5.2023
Twitter CEO Elon Musk has shared what he calls a “massive incentive” to get money out of bank accounts, noting “bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big to fail.’” Personal finance coach and author Dave Ramsey, for his part, thinks...
Seoul Court Greenlights Seizure of Do Kwon’s Assets Worth $176 Million
11.5.2023
According to a local report, South Korean prosecutors have been given the green light by the Criminal Division of the Seoul Southern District Court to seize assets owned by Do Kwon, the co-founder and former CEO of Terraform Labs. The report discloses that a total of 233.3 billion won ($176...
Elon Musk Shares ‘Massive Incentive to Move Money out of Bank Accounts’
9.5.2023
Tesla and Twitter CEO Elon Musk has shared a “massive incentive” to move money out of bank accounts, citing a significant interest rate gap created by the U.S. Treasury and the Federal Reserve. “As more people & companies realize this, bank depositor flight will accelerate...
BNP Paribas Will Link Digital Yuan to Bank Accounts for Promoting CBDC Use: Report
5.5.2023
BNP Paribas' corporate clients will be able to connect to China's e-CNY through a connection to the Bank of China's system
Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts
29.4.2023
A growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits amid currency restrictions that triggered a flight of funds to bank accounts abroad. Demand for Dollar, Euro...
Economist Paul Krugman Criticizes Florida Gov. Ron DeSantis’ Opposition to Central Bank Digital Currency
15.4.2023
Economist Paul Krugman questioned why Republican Florida governor Ron DeSantis opposes a central bank digital currency (CBDC) in a recent opinion editorial. Krugman suggested that DeSantis may be motivated by “general paranoia.” He speculated that DeSantis may be influenced...
Singapore to introduce uniform screening standards for crypto bank accounts
6.4.2023
Potential guidelines reportedly won’t have a binding force over banks, who could rely on their own risk assessment
Tether strikes at WSJ over ‘stale allegations’ of faked documents for bank accounts
6.3.2023
Tether has hit back at a Wall Street Journal report detailing alleged shady dealings by it and Bitfinex to open bank accounts
Breaking: Tether Investigation Reveals Use of Fraudulent Documents and Obscured Identities to Open Bank Accounts
3.3.2023
Amid struggles to maintain access to the global banking system, the companies behind Singapore-based USDT stablecoin issuer Tether used a mixture of fraudulent documents, obscured identities and shell companies, according to a new bombshell report by the Wall Street Journal....
Read More: Breaking:...
Stablecoin Issuer Tether Used Bank Accounts Opened With Falsified Documents in Past: WSJ
3.3.2023
Tether, the company behind the world's largest stablecoin, accessed bank accounts by way of falsified documents and intermediaries, a new report says
Binance US Refutes Reports Comparing It to Fraudulent Crypto Exchanges
20.2.2023
Binance US has refuted reports that draw parallels between it and “fraudulent exchanges that have gone bankrupt.” The U.S.-based crypto trading platform stressed that “only Binance.US employees” have access to its bank accounts, denying the allegation that global crypto...
Uzbekistan Allows Foreign Firms to Deposit Funds From Crypto Trading, Restricts Other Operations
16.2.2023
The Central Bank of Uzbekistan has permitted foreign-based businesses to open domestic bank accounts and deposit funds received from cryptocurrency trading. These companies will also be able to transfer the money abroad, but operations in the country will be restricted. Uzbekistan Updates Rules...
Binance Halting US Dollar Deposits and Withdrawals via Bank Accounts
7.2.2023
Global crypto exchange Binance is suspending deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday as more and more banking institutions try to reduce their exposure to the crypto market. “We are working hard to restart service as soon as possible,” Binance said....
US Government Seizes $700 Million in Assets From Disgraced FTX Co-Founder Sam Bankman-Fried
21.1.2023
Federal prosecutors have seized $697 million in assets, mostly comprised of more than 56 million Robinhood shares worth $526 million, from FTX co-founder Sam Bankman-Fried. Court filings detailed that the U.S. government seized a series of bank accounts belonging to Bankman-Fried, holding millions...
Federal Prosecutors Seize Sam Bankman-Fried Assets Worth $700m, Including Silvergate Bank Accounts
21.1.2023
Federal authorities have confiscated approximately $700 million worth of assets belonging to the disgraced FTX founder Sam Bankman-Fried, including three accounts at Silvergate Bank that held U.S. dollars....
Read More: Federal Prosecutors Seize Sam Bankman-Fried Assets Worth $700m, Including...