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Is it the Beginning of the End for Ripple and XRP

Source: https://www.forbes.com/sites/billybambrough/2020/12/23/the-beginning-of-the-end-for-ripple-and-xrp-as-coinbase-considers-its-options/?sh=443d5664d449 Ripple’s XRP, currently the fourth biggest cryptocurrency by value, according to CoinMarketCap, is fighting for its life. XRP, the digital token controlled by the San Francisco-based company Ripple, has lost half its value in the last 24 hours, going into free fall after the U.S. Securities and Exchange Commission (SEC) said the token had been illegally marketed to retail customers. Now, as a number of minor cryptocurrency exchanges remove XRP from their platforms, traders and analysts are questioning the future of XRP—with one long-time critic calling it “the beginning of the end.” “I think it is the beginning...

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Great Fintech Marketing Tips You Can Use Right Away

Setting up your own business is a consistent and overwhelming task. Setting up a fintech organization from scratch, one intended to digitally disrupt the financial business can appear to be unimaginable but entrepreneurs like Ferhan Patel have made this thing possible. To develop your business, you’ll need a fintech marketing technique and an imaginative and inventive one at that. The following are 5 useful and helpful hints to make the sort of progress you’re running after. EDUCATION: We’ve progressed significantly since that well-known discourse, yet the slant stays genuine today. With a new flood in fintech promoting, it’s critical to...

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New York sues OCC for allowing fintechs to become banks

This battle is brewing! The Office of the Comptroller of the Currency (OCC) opened up the application process for the National Bank Charter for Fintech companies in July 2018. “Providing a path for fintech companies to become national banks can make the federal banking system stronger by promoting economic growth and opportunity, modernization and innovation, and competition,” Comptroller Otting said. “It also provides consumers greater choice, can promote financial inclusion, and creates a more level playing field for financial services competition.” Source: https://www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-74.html However, not everyone is happy about this, with New York being the first state to sue the US...

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Bitcoin exchange founder sentenced to prison for money laundering

The DOJ believes Alexander Vinnick ran BTC-e as a front for a money laundering operation. Source: https://www.engadget.com/bitcoin-alexander-vinnick-prison-money-laundering-083053555.html Alexander Vinnick, the Russian man who founded and ran the now-defunct Bitcoin exchange service BTC-e, has been sentenced to five years in prison. A Paris court has found Vinnick guilty of money laundering and has ordered him to pay €100,000 (US$121,000) in fines. Vinnick was arrested in Greece back in 2017 under an international warrant issued by the US Department of Justice and was extradited to France earlier this year. The Justice Department accused Vinnick of operating BTC-e as a front for a massive money Read more…

By Ferhan Patel, ago

Chinese police seized crypto assets worth $4.2B today from PlusToken Ponzi

Source: https://cointelegraph.com/news/chinese-police-seized-crypto-assets-worth-4-2b-today-from-plustoken-ponzi PlusToken controversy, which has led to the arrest of 109 individuals so far, has also reportedly resulted in a titanic seizure of crypto assets by Chinese authorities worth $4.2 billion at today’s prices. According to court filings released publicly on Nov. 19 and posted by The Block, authorities seized a staggering 194,775 Bitcoin (BTC), 833,083 Ether (ETH), 1.4 million Litecoin (LTC), 27.6 million EOS, 74,167 Dash, 487 million XRP, 6 billion Dogecoin (DOGE), 79,581 Bitcoin Cash (BCH) and 213,724 Tether (USDT) from seven individuals convicted in the case. According to the ruling from the Yancheng Intermediate People’s Court, gains from the seized Read more…

By Ferhan Patel, ago

Binance Exiting The US – Gives 14 Days to Leave Exchange

Source: https://decrypt.co/49317/binance-gives-us-users-14-days-to-leave-exchange In brief Some Binance users in the US have received emails giving them 14 days to transfer their holdings out of the exchange. According to the email, if they fail to do so, their account will be locked. This is an escalation of earlier efforts to keep US users off the exchange. Binance is again clamping down on US-based customers. And this time, it might really mean it. The world’s largest cryptocurrency exchange has begun sending email notifications to users in the US, where Binance has no regulatory standing, giving them 14 days to close their account. “Dear Read more…

By Ferhan Patel, ago