Crypto hack losses hit $19B, Terraform Labs shuts down: Finance Redefined

We’re living today “amidst an explosion of risk related to fraud, money laundering, terrorist financing, and data privacy,” said United States Treasury Secretary Janet Yellen in February — and she specifically cited cryptocurrencies as a “tool to finance terrorism.”Yellen appeared to be flagging an important new turn in the war against terror, and it begged…

Mike McGlone, senior commodity strategist at Bloomberg, is convinced that Bitcoin’s transition to digital gold will propel it to new all-time highs in 2022. 1290 Total views 7 Total shares Bloomberg analyst Mike McGlone is convinced Bitcoin is on track to reach $100K in 2022, as it completes its transition from a risk-on to risk-off…

Macau’s government is taking steps towards introducing a digital currency to combat tax evasion and money laundering in the gambling hub. 2698 Total views 19 Total shares Macau is pushing forward with preparations fo the roll out China’s digital yuan, which could help crack down on tax evasion in its opaque gambling industry. On April…

BTC price rallied back to a strong resistance level at $31,500, but traders caution that another whipsaw is the most likely outcome. 1008 Total views 4 Total shares Bitcoin's (BTC) short-term price action has been dominated by whipsaws that trigger around the $31,000 to $32,000 level and the June 6 reversal at this point triggered…

Germany’s finance minister Olaf Scholz sees uses for an electronic version of the euro but believes Facebook should stay away from money issuance. Scholz: Germany wants E-euros, not LibraSpeaking to local financial news outlet WirtschaftsWoche on Oct. 3, Scholz revealed that he would be keen on seeing a so-called E-euro, adding:“A payment system like that would…

Russian banks tap Bitcoin services abroad while the government at home sees no future for private cryptos. 908 Total views 23 Total shares Major private-owned Russian bank Gazprombank has received regulatory approval to launch cryptocurrency custody services through its Swiss subsidiary.According to an official announcement on Oct. 29, the bank scored approval from the country's…

Russian musician Oleg Kenzov transferred the digital rights to one of his songs through a government-backed blockchain platform. Russian pop singer Oleg Kenzov has completed the first digital rights transfer of a song he wrote using a blockchain platform backed by the government.According to VC.ru, the studio Soyuz reached a licensing agreement deal with music…

The leader of the cybercriminal group Evil Corp reportedly led the attack against Garmin. 2790 Total views 19 Total shares Garmin, a multinational tech company, has been operating at less than full capacity following a ransomware attack launched by the Russian cybergang, Evil Corp. Garmin is being extorted for a $10 million ransom, to be…

A United States District Court has allowed a nearly three-year-long class action lawsuit against the creators of HelbizCoin to go ahead, as per a court ruling filed on Sept. 1.The class action suit was first brought against Helbiz, its CEO Salvatore Palella, and its partners in 2020, with an amended complaint filed in March 2022.