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Tag: Kevin O'Leary

December 19, 2022

The Great FTX Disappointment & The Binance War On Twitter!

In December 2019, Binance announced a strategic partnership with FTX, allegedly acquired 20% in FTX, and took a long-term position in the FTX token, FTT. The initial investment allegedly was in the range of "tens of millions" at a valuation of $1.2 billion. In July 2022 Binance exited and received $2.1 billion. A huge profit for Binance. The break was reportedly over regulatory issues. Sam Bankman-Fried (SBF) accused Changpeng Zhao (CZ) of causing him problems with regulators.

December 18, 2022

What About Regulatory Actions Against Financial Social Media Influencers?

The U.S. SEC recently filed charges against eight social media influencers in a $100 million securities fraud scheme. They used Twitter to build followers and direct them to their podcasts or Discord, which they used as a virtual boiler room to pump securities. They are seasoned stock manipulators. Twitter, TikTok, and Instagram are full of crypto influencers who recently also massively promoted the FTX scam. When will action be taken against them?

December 16, 2022

French Auditor Paused Working For Crypto Clients Due To Public Perception Of POR Reports!

French auditing firm Mazars Group, that did the controversial Proof of Reserve (POR) "audits" of crypto giants Binance and Crypto.com, has paused work for all crypto clients globally. However, the published POR audits have raised more questions than they gave answers to and were met with massive criticism on Twitter. Probably, as a result, Mazars has withdrawn from further crypto engagements. The crypto environment is currently extremely toxic.

Attention: What You Should Know About Crypto-Based ETNs Under MiCA Regulation!

Exchange Traded Notes (ETNs) in the cryptocurrency sector have gained popularity in Europe, offering investors exposure to digital assets through regulated exchanges. With the implementation of the Markets in Crypto-Assets Regulation (MiCAR), which entered into force in June 2023, the regulatory landscape for crypto-based financial products is evolving.

Investor Education: MiCAR’s Asset-Referenced Tokens And How RWA-Backed Crypto May Fit the Definition!

Real-World Asset (RWA)-backed tokens can potentially qualify as asset-referenced tokens (ARTs) under MiCAR, depending on their specific characteristics. ARTs are defined in MiCAR as a type of crypto-asset that aims to maintain a stable value by referencing another value or right, or a combination thereof, including one or more official currencies. The key characteristics of ARTs under MiCAR are:

Uganda’s Central Bank Hacked – Finance Ministry Officials Arrested!

Massive cyber-heist in Uganda! Authorities have detained nine finance ministry officials over a $16.87 million hack targeting the central bank’s IT systems. The cybercriminals, allegedly operating under the alias "Waste", infiltrated accounts and funneled funds out. Investigations are ongoing, with top Treasury officials under scrutiny.

MONEYVAL Flags Bosnia & Herzegovina for AML Failures – Urgent Fixes Needed!

MONEYVAL’s latest report exposes Bosnia and Herzegovina’s (BiH) weak anti-money laundering (AML) and counter-terrorist financing (CTF) controls. Despite moderate effectiveness in some areas, major deficiencies remain—particularly in UN financial sanctions compliance, CTF risk mitigation in the non-profit sector, and enforcement against financial crime.

Is Google’s Search Empire Cracking? The AI Disruption Threatening Alphabet’s Profitability!

Google has long maintained a dominant position in the search engine market, commanding a global market share exceeding 90% as of 2022. However, recent developments indicate a potential shift in this landscape, primarily due to the emergence of AI-driven search engines. Notably, Google's global search engine market share fell below 90% in Q4 2024, marking the first time since 2015 that it has dipped under this threshold.