SEC charges siblings over $60M Ponzi touting a crypto trading bot
The SEC has accused the two brothers of using investor money to fund lavish lifestyles, including the purchase of cars and a multimillion-dollar condominium.
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BBVA Signs $117 Mln Blockchain-Powered Corporate Loan
Banco Bilbao Vizcaya Argentaria (BBVA) has signed a new blockchain-based loan with civil engineering firm ACS Group, according to the BBVA’s official statement July 19. BBVA, a multinational Spanish banking group, signed an agreement with ACS to provide a long-term bilateral corporate loan of €100 million ($117 million). The new blockchain-powered loan contract will reportedly…

FBI Apprehends & Charges Russian Hacker, Closes Down Deer.io Platform
The Federal Bureau of Investigation (FBI) has charged a Russian hacker for stealing private information, and has shut down his platform — Deer.io, which moved funds via crypto assets.The FBI shut down the Deer platform on March 24, as per a statement from the U.S. Department of Justice (DoJ). The platform’s “suspected administrator – alleged…

KPMG Launches DLT Supply Chain Tool in Australia, China and Japan
Big Four audit firm KPMG has officially launched a blockchain-based track and trace platform in Australia, China and Japan. Dubbed KPMG Origins, the tool is designed to increase transparency and traceability of processes in multiple industries such as agriculture, manufacturing and financial services, the firm announced on Nov. 28.The official launch of KPMG Origins in…

Central Bank of China Official Says Digital Yuan Will Be Different From Bitcoin
The People’s Bank of China’s (PBoC) deputy director Mu Changchun said that the digital form of the yuan will be different to Bitcoin (BTC) and stablecoins.Chinese news outlet South China Morning Post reported on Dec. 22 that the head of the digital currency research institute at the PBoC said that China’s digital currency would be…

What is the network effect?
The network effect is a phenomenon where the value of a product or service increases as more people use it. As the user base grows, there are more opportunities for interactions, which can lead to increased benefits and positive outcomes for each user. The network effect is a powerful driver of growth and adoption for…

Judge cancels ex-Celsius exec sentencing after Alex Mashinsky plea deal
Former Celsius chief revenue officer Roni Cohen-Pavon pleaded guilty to US criminal charges in 2023 and has been allowed to stay in Israel on bail.

Breaking: Founder of Crypto Exchange OKEx Allegedly Detained on Crypto Fraud Charges in China
Star Xu, the founder of exchange services provider OKCoin and the world’s second-largest crypto exchange OKEx, has allegedly been detained in China in relation to suspected digital currency fraud, local news outlet Sina News reports September 11.According to the news outlet, Xu is currently being held in the Shanghai Weifang Xincun police station, and will…

BIS compares projects to transfer central bank digital currencies across borders
The international bank found high technical feasibility among the projects, but significant work on legal and governance frameworks still remains to be done. 54 Total views 2 Total shares The Bank of International Settlements (BIS) Innovation Hub released a report Tuesday looking at four projects that examined wholesale central bank digital currency (CBDC) transfers across…