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Category: Broker

June 5, 2023

Brazilian Crypto Exchange Mercado Bitcoin Receives Payment Institution License

Mercado Bitcoin (website), the largest crypto exchange in Brazil, has obtained a payment institution license from the country's central bank. This license allows the crypto exchange to operate as a payment institution and issue electronic money. The crypto exchange plans to offer its payment services through MB Pay. This will enable the exchange to provide Brazilian users with digital banking services using their held crypto assets.

June 2, 2023

Interesting Reading: Who Controls China-Related Crypto Exchange Huobi?

The Hong Kong-based investment firm About Capital Management (ACM) announced in early October 2022 that it had acquired Huobi, a crypto exchange founded by Leon Li in China in 2013. The acquisition was orchestrated by Justin Sun, the founder of TRON and Poloniex. Sun assumed a position on the Huobi Global Advisory Board but said that he did not hold any controlling ownership of Huobi. In May 2023, ACM said it no longer controls Huobi; its current owners are still unknown!

May 30, 2023

Curve CEO Michael Egorov And His Lavish Australian Villas.

Who says that FinTech and Crypto are in hibernation or crisis? Michael Egorov, CEO of DeFi protocol Curve Finance, and his wife Anna have recently acquired two lavish villas in Melbourne, Australia, with a combined value of AUD 59 million (approximately $40 million). Curve, launched in 2020, stands as the second-largest DeFi project on Ethereum, with a total value of around $4 billion, per The Block reports.

May 30, 2023

Capitalix Update: The Offshore Broker’s Growth Continues Despite Scam Ratings!

Capitalix, an offshore broker operated by 4Square SY Ltd, holds a Security Dealer license issued by the FSA Seychelles. The payment agent for the offshore broker is 4Square (CY) Ltd, registered in Cyprus. Capitalix operates boiler rooms in Cyprus, Romania, and Columbia and is connected to the CySEC-regulated investment firms iTrade Global (CY) Ltd and Titanedge Securities Ltd. We have included the broker scheme in our Red Compliance list.

May 26, 2023

The Strange €100-Million German-Austrian Crypto Bond Scheme!

Euroinvest was a small bank in Vienna that was a notorious Internet share trading institution in the New Economy hype. The bank was controlled by the brothers Franz Wanovits and Johann Wanovits. In 2013, the latter was sentenced to five years in prison and ordered to pay 10 million in damages for share price manipulation of Telekom Austria. Euroinvest was renamed into Blue Rock and launched the Blue Coin Select 20 crypto bond most recently.

Crypto

May 26, 2023

U.S. Crypto Exchange Coinbase Signed Cooperation Agreement With Austrian Bitpanda.

The U.S. crypto exchange Coinbase is under pressure in its home market USA. Not only the crypto crash in 2022 but, above all, the legal dispute with the influential U.S. Securities and Exchange Commission (SEC) is putting pressure on the company. Now, the European market, which will be regulated by MiCA in 2024, is increasingly on Coinbase radar. It plans to cooperate with the Austrian crypto player Bitpanda in the European market.

CNMV
Crypto

May 22, 2023

Urgent Warning Against Bibox AI Crypto Trading Scheme!

Bibox is reportedly an AI-powered crypto token trading platform that also offers to list new tokens. The operator is allegedly the Estonian-registered Bibox Technology Ltd. This entity never had a crypto license and was already deleted from the Estonian company register in January 2023. The Spanish regulator CNMV issued a warning against Bibox today. Stay far away and let us know information about the Bibox scheme.

May 21, 2023

No CySEC Answer? Dutch Court Ordered CySEC Broker LegacyFX To Pay €303.000 To Victim!

LegacyFX is one of the CySEC-regulated CIFs that works with offshore mutations to solicit European clients. Their offshore broker is AN All New Investments (VA) Ltd in Vanuatu. However, all card transactions of this offshore broker are processed by the CySEC-regulated entity. Durch Courts sentenced LegacyFX on May 17, 2023, to pay €303,000 to an investor, the Dutch lawyer Marius Hupkes reports on his website.

May 16, 2023

Correction: CySEC-Regulated Pacific Union Group Ltd Is Not Part Of the PU Prime Scheme!

In April 2022, FinTelegram recently updated its review of PU Prime, an offshore broker regulated by the FSA Seychelles. We included the broker in our Red Compliance list. Despite lacking the necessary regulatory authorizations, this broker offers financial products to clients in the UK and EEA. On May 10, 2023, the UK regulator FCA issued a warning regarding PU Prime. The CySEC-regulated Pacific Union Group Ltd informed that it would not be part of the offshore broker scheme.

May 12, 2023

FTX Bankruptcy Case: U.S. IRS Filed A $44 Billion Tax Claim!

The U.S. Internal Revenue Service (IRS) has lodged approximately $44 billion claims against the bankrupt crypto exchange FTX. Bankruptcy filings reveal that the IRS has submitted 45 claims against various FTX entities. The largest claim amounts to $20.4 billion, followed by a $7.9 billion claim against Alameda Research LLC. Additionally, two claims totaling $9.5 billion have been filed against Alameda Research Holdings Inc.

May 10, 2023

Maltese Bittrex Companies Included In Bankruptcy Proceedings!

On Monday, the U.S. entity of crypto exchange Bittrex filed a Chapter 11 bankruptcy filing and sought creditor protection, as reported by FinTelegram. The U.S. SEC filed a complaint against Bittrex in April 2023 for violating U.S. securities laws. The Shift reports that the U.S. entity and the Bittrex entities in Malta are included in the bankruptcy filing. Thus, the bankruptcy does not seem to be limited to the US, as announced by Bittrex.

Crypto

May 8, 2023

New Troubles With Crypto Exchange Binance Or Just Another Day?

In the last 24 hours, the world's largest crypto exchange has been under heavy fire again on Twitter. The exchange had to suspend Bitcoins (BTC) withdrawals several times due to alleged "congestion." Currently, this should work again. Massive withdrawals of whales were also reported. However, Binance has explained on Twitter that these massive outflows from Binance wallets would only have reflected transactions between hot and cold wallets