Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January, as risk sentiment continues to improve after last month’s tariff-induced selloff. The world’s largest cryptocurrency touched a high of $109,760.08, and was last up 1.1% at $108,117. Its ascent was driven by a combination of factors including easing trade […]
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Cryptocurrency has been flagged as a new frontier for cyber threats in a new report drafted with inputs from Indian nodal agencies such as the Indian Computer Emergency Response Team (CERT-In) and Computer Security Incident Response Team in the Finance sector (CSIRT-Fin). “Cryptocurrency has significantly altered the cyber threat landscape, empowering intruders in ways that […]
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The Finance Ministry has amended the Prevention of Money Laundering (Maintenance of Records) Rules for widening the scope of KYC norms. File | Photo Credit: The Hindu The Finance Ministry has amended the Prevention of Money Laundering (Maintenance of Records) Rules for widening the scope of Know your Customer (KYC) norms to include Politically Exposed […]
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Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, is escorted out of the Magistrate Court building in Nassau, Bahamas on December 21, 2022. | Photo Credit: Reuters The cryptocurrency entrepreneur Sam Bankman-Fried can post $250 million bond and live in his parents’ home in California while he awaits trial on charges […]
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Representational file image. | Photo Credit: Reuters A coordinated approach to regulating crypto assets, managing debt vulnerabilities and reorienting global financial institutions have been identified as critical focus areas of the Finance Track agenda for India’s G-20 Presidency, which will kick-off with the first meeting of G-20 Finance and Central Bank Deputies in Bengaluru on […]
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Cryptocurrency exchange AAX has suspended withdrawals, citing a glitch in a system upgrade. AAX is a relatively small crypto exchange: data from CoinGecko showed that trading volumes over the last month peaked at around $2 billion. Over the last 24 hours, that number had dwindled to around $180,000. By contrast, Coinbase volumes were more than […]
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Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world’s first trillionaire. Now the comments about the 30-year-old Bankman-Fried aren’t so kind after FTX filed for bankruptcy protection Friday, leaving his investors and […]
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With inflation still roaring, it is a hard time to make a case for the value of central banks. But the boy wizards of cryptocurrency have done it. The great benefit of crypto was said to be decentralization. This was accompanied by all manner of gasbagging about the liberating power of money unhinged from the […]
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The entire $16 billion fortune of former FTX co-founder Sam Bankman-Fried has been wiped out, one of history’s greatest-ever destructions of wealth. The downfall of his crypto empire — which filed for bankruptcy on Friday along with his resignation — means assets owned by the mogul once likened to John Pierpont Morgan have become worthless. […]
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FTX is scrambling to raise about $9.4 billion from investors and rivals, a source said on Thursday, as Chief Executive Sam Bankman-Fried urgently seeks to save the cryptocurrency exchange that has been buffeted by a rush of customer withdrawals. Bankman-Fried has discussed raising $1 billion each from Justin Sun, the founder of crypto token Tron, […]
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