Mark Lagarde | FinTelegram News

Author: Mark Lagarde

September 25, 2024

U.S. Crypto Exchange Kraken Strengthens European Position with Dutch Acquisition Ahead of MiCA!

Kraken, one of the world's leading cryptocurrency exchanges based in the U.S., has recently completed its acquisition of Coin Meester B.V., a prominent Dutch cryptocurrency broker d/b/a BCM. This strategic move marks another milestone in Kraken's European expansion strategy and strengthens its position in the evolving cryptocurrency market landscape under the MiCA regime.

CFTC

September 18, 2024

CFTC Targets Polymarket and Offshore Crypto Betting Platforms Amid U.S. Presidential Election!

The CFTC’s crackdown on Polymarket and other offshore crypto platforms signals a new phase of enforcement in the prediction market space, where the intersection of derivatives and elections raises complex compliance challenges. With over $930 million in bets placed on Polymarket’s "2024 Presidential Election Winner" market, regulators are taking notice.

September 12, 2024

eToro Settles with SEC, Restricts Crypto Trading

Under its chair, Gary Gensler, the SEC is taking massive action against crypto companies in the U.S. The regulator believes that most coins and tokens qualify as securities, and therefore, the issuers and exchanges need appropriate registration. The U.S. subsidiary of the Israeli eToro broker scheme has also been sued for this reason. eToro settled with the SEC with a $1.5 million payment.

September 9, 2024

Jack Dorsey’s Block Surpasses Coinbase in Market Cap as the Crypto Sector Shows Weakness!

Block, the fintech venture of former Twitter CEO Jack Dorsey, has overtaken Coinbase in market cap, underscoring the challenges facing the crypto sector as stock volatility and regulatory battles weigh down Coinbase’s performance. The crypto market capitalization is currently in a correction phase within a symmetrical triangle pattern, having dropped 12.34% after testing the triangle's upper trendline as support.

Court Cases

September 4, 2024

Binance Nigeria Case: Judge Orders Wheelchair for Detained Binance Exec Tigran Gambaryan!

The Nigerian Justice Emeka Nwite has ordered the officials of the Kuje correctional facility to provide Tigran Gambaryan, the detained executive of Binance Holdings Limited, with a wheelchair. This decision came after Gambaryan, who appeared in court walking with crutches, expressed that his health had severely deteriorated due to inadequate medical care at the facility.

Fintech

September 3, 2024

The FinTech Revolution Continues: Revolut Set to Shake Up Irish Mortgage Market in 2025!

Revolut, the leading digital banking platform, is gearing up to launch mortgage products in Ireland by the first half of 2025. Operating under its Lithuanian banking license, Revolut plans to offer a fully digital mortgage application process. This move follows the company’s expansion into personal loans in Ireland and reflects its strategy to disrupt traditional banking sectors by leveraging technology to provide faster and more efficient services.

August 24, 2024

Stand by Crypto: Gen Z & Millennials Embrace the Crypto Future!

Gen Z and Millennials are embracing cryptocurrency as a key part of their financial strategies, significantly more than Baby Boomers. Much like Gen Z, cryptocurrencies are native to the digital environment. As this generation matures, their comfort with digital technology will likely drive further adoption of blockchain-based financial systems. The shift towards cryptocurrencies among younger generations could signal the beginning of a new era in finance.

Crypto

August 24, 2024

The Rise of Crypto: How Gen Z and Millennials are Shaping the Future of Finance

The financial landscape is undergoing a significant transformation, driven largely by the adoption of cryptocurrencies among younger generations like Gen Z and Millennials. As digital natives, these groups are not only more comfortable with technology. Still, they are also actively reshaping how financial systems operate, moving away from traditional fiat currencies to embrace blockchain-based cryptosystems.

August 20, 2024

Bitwise Expands Into Europe With Acquisition of Bitcoin ETP Issuer ETC Group!

The US-based Bitwise Asset Management is one of the leading providers of crypto index funds and ETFs. Bitwise has a six-year track record focused solely on crypto and aims to provide investors with professional-grade, rules-based exposure to the crypto asset class through its index funds and ETFs. The company announced the acquisition of London-based ETP issuer ETC Group.

August 15, 2024

Hype Attention: Crypto Sponsorships Surge as Bull Market Signals Possible Peak!

In a move reminiscent of the last crypto bull market 2020/2021, Crypto.com has signed a high-profile sponsorship deal with UEFA, the governing body of European football. This partnership, which will see Crypto.com prominently featured in UEFA events, mirrors similar recent deals by major crypto platforms, suggesting that the market may be approaching another peak. Crypto investors should be alerted.

FinTelegram

August 11, 2024

Crypto Fraud: The Never-Ending Extradition Case Around Terralabs Founder Do Kwon!

It seems to be a never-ending story about Terraform Labs founder and former crypto mogul Do Kwon and his extradition from Montenegro. On August 8, 2024, a Montenegrin Supreme Court ruling postponed Do Kwon's extradition to South Korea. The court decided to wait for further clarifications from the Supreme State Prosecutor's Office regarding the legal conditions for extradition.

August 8, 2024

Bank Fraud Allegations: Rapper “Punchmade Dev” Sues PNC Bank

In January, Brian Krebs, the cybercrime expert behind KrebsOnSecurity, exposed rapper Punchmade Dev, who glorifies cybercrime in his music videos, as a key figure behind online stores selling stolen bank account and payment card data. Now, the 22-year-old Kentucky native, identified as Devon Turner, is suing Kentucky-based PNC Bank after it blocked a $75,000 wire transfer and froze his account amidst an active law enforcement investigation.

Breakeing: German Co-Founder of Crypto Fraud Scheme USI Tech On The Run!

USI Tech was one of the first MLM schemes to use cryptocurrencies to defraud its investors. FinTelegram has issued several warnings aginst the scheme. Horst Jicha has now gone fugitive, leaving behind a trail of defrauded investors and evading justice in the $150 million USI Tech fraud case. With Jicha on the run, the case serves as a chilling reminder of the risks in the volatile crypto world.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.

Gotbit and Russian Executives Charged by U.S. DOJ and SEC for Crypto Market Manipulation!

Gotbit Consulting LLC, along with its Russian executives, has been charged by the U.S. DOJ and SEC for its role in a widespread market manipulation scheme. By using wash trades, Gotbit inflated crypto asset prices and volumes, deceiving investors and raising millions in illicit profits. The company’s fraudulent activities were executed across multiple jurisdictions, with key figures now facing extradition and prosecution.