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Crypto Card Issuer Wirecard Missing $2.1 Billion Cash, Company Shares Plunge 62%
19.6.2020
About 1.9 billion euros ($2.13 billion) worth of cash is missing from one of Wirecard’s trust accounts and the crypto debit card provider cannot as yet account for the money, the company reported on Thursday. In a statement, the major German payment processor blamed “spurious”...
80 Banks Charge Negative Interest Rates as Crisis Deepens in Germany
12.4.2020
Amid the coronavirus pandemic and deepening financial crisis, the number of banks charging customers negative interest rates in Germany has accelerated. At least 80 banks now reportedly charge negative interest rates, 16 of which apply this policy to even small deposits. Also read: IMF Declares...
6 Bankers Accused of Earning €30M in Bonuses From German Fraud, Tax Lawyer Out on €4M Bail
22.1.2020
Former bank employees have received bonuses worth millions of euros in an illegal trading scheme that also involved a tax lawyer, prosecutors in Frankfurt revealed this week. The case is part of multiple investigations carried out across Germany, the hardest hit country in a notorious tax fraud...
Maduro Opens Crypto Casino in Venezuela
20.1.2020
Venezuela’s President Nicolas Maduro has authorized the opening of a casino at a luxury hotel in Caracas where bets must be placed in petros, the country’s national oil-backed digital currency. Several cryptocurrencies and fiat currencies can be exchanged into petros to wager in...
Germany Comes Up with Climate Package Worth 50 Billion Euros Without New Debts
21.9.2019
According to the latest reports, Germany is set to finance a climate package worth over 50 billion euros (55 billion dollars) over the course of the next 4 years. The move has been taken to lower carbon emissions and protect the climate as well as restore the green credentials of it. The package...
Bitfineon GmbH Secures Seed Funding of 1 Million Euros to Launch Its Next-generation Crypto and Fiat Exchange
12.9.2019
Bitfineon GmbH, a German-based crypto financial services organization, has acquired seed funding of 1 million Euros to initiate its next-generation fiat and crypto exchange, Bitfineon, through a private equity deal with the US-based fund B.I.G. Fintech. Moreover, Bitfineon will support fiat...
BaFin Approves Fundament Group’s Tokenized Real Estate Bond Worth 250 Million Euros
25.7.2019
Fundament Group, based in Germany’s Berlin, has received the approval from BaFin to issue the nation’s first tokenized bond which is backed by the German real estate. BaFin is the Federal Financial Supervisory Authority of Germany. This real estate bond is based on the blockchain of Ethereum and...
Nordic Banking Behemoth Nordea Invests 5 Million Euros In Swedish Neobank P. F. C.
4.7.2019
Throughout the course of the history of the financial system, the latest innovations have managed to improve the entire system in a way that had not been envisaged and in that regard, Fintech is perhaps the latest example. Over the past five years, the Fintech industry has grown into...
French Fintech Startup Joko Raises 1.6 M Euros To Help Users With Credit Card Rewards
4.7.2019
Over the last five years, Fintech has grown into one of the hottest industries in the world and has grown by leaps and bounds across many countries. While the United States, United Kingdom, and China remain the leading lights of the new Fintech charge, other parts of Europe have also become active...
Smaller Rival Altran Merges with Capgemini in 3.6 Billion Euros Deal
25.6.2019
When it comes to the biggest companies in the world of consulting and technology, the idea of acquisition in order to keep growing is a well-known strategy and that has been even more prevalent in recent years. In a new development, French consultancy and information technology giant Capgemini...
Goldman in Talks to Buy European Budget Hotel Chain for 1.9 Billion Euros
20.5.2019
Over the course of the last few decades, Goldman Sachs has firmly established itself as the byword for shrewd investing and remains the gold standard in high finance at a global level. The bank is involved in creating highly sophisticated securities for its clients and remains the world’s most...
European Union Fines 5 Top Banks 1 Billion Euros for Foreign Exchange Market Rigging
17.5.2019
Over the course of their history, some of the biggest banks in the world have often colluded to rig the different markets in which they operate, and much of that has come out in the open over the past decade or so. The fixing of LIBOR was a case in point, and in a new …
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