Singapore Court Imposes 6-Year Prison Sentence on Crypto Ponzi Scheme Mastermind
Yang Bin, a 61-year-old Dutch national, was sentenced by a Singapore court to six years in prison and fined S$16,000 Singapore dollars for orchestrating a cryptocurrency Ponzi scheme. Yang’s company, A&A Blockchain Innovation, falsely claimed to own 300,000 cryptocurrency mining machines, promising investors a daily return of 0.5%. In reality, the company had no such […]
UAE Investment Firms Announce $500 Million Digital Energy Infrastructure Fund
United Arab Emirates-based investment firms Hodler Investments and Gewan Holding have announced plans to launch a $500 million Digital Energy Infrastructure (DEI) Fund. This fund aims to invest in energy infrastructure projects that support the growth of the digital economy. The DEI Fund will invest in a variety of projects, including power generation, data mining, […]
Latam Insights Encore: El Salvador’s Bitcoin Education Investments Set to Pay Off in Adoption
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from the past week. In this edition, we discuss the recent investments made by the Salvadoran government in Bitcoin education and certification, and how these initiatives might increase trust in cryptocurrency and boost adoption in the country. Latam […]
Former US Federal Agent Tigran Gambaryan Marks 6 Months in Nigerian Detention
Tigran Gambaryan, a former U.S. federal agent and Binance executive, has now spent six months in Nigerian detention. Lawyers say he has been denied proper medical care, leading to severe health issues, including a herniated disc that has left him unable to walk. Additionally, his lawyers said that between July 26 and August 14, they […]
Audited, Yet Hacked: The Critical Role of Real-Time Monitoring in Web3
In the evolving landscape of Web3, security remains a paramount concern for crypto companies. Most of these companies rely heavily on pre-deployment smart contract audits, believing that such audits will safeguard their projects and client funds from hacks. However, recent data reveals a stark truth: 90% of the smart contracts that were hacked had undergone […]
Former Russian PM: BRICS Not Ready for Common Currency
Sergey Stepashin, Russia’s former prime minister, explained that it’s premature to discuss a common BRICS currency, emphasizing the importance of increasing payments in national currencies instead. He cited challenges in creating a common currency, particularly between large economies like India and China. While some BRICS members support a single currency, Stepashin advocates for enhancing financial […]
Semler Scientific Acquires More Bitcoin, Citing Institutional Adoption Growth
Semler Scientific has purchased 83 more bitcoins for $5 million, bringing its total holdings to 1,012 BTC. The company expressed optimism about the increasing institutional adoption of bitcoin, emphasizing: “We believe this increasing institutionalization will drive value for both bitcoin prices and for our stockholders.” Semler Scientific Expands Bitcoin Holdings Amid Growing Institutional Interest Semler […]
Russia Set to Launch Crypto Payment Trials Next Week, Report
Russia is reportedly set to start trials for cryptocurrency exchanges and digital token payments on Sept. 1 to mitigate payment difficulties caused by international sanctions. These trials will involve the National Payment Card System and could lead to the establishment of crypto trading platforms if successful. Legislation was recently passed to legalize crypto mining and […]
Russia Seeks Clarification From France on Telegram CEO Pavel Durov’s Arrest
The Russian Foreign Ministry has disclosed that its embassy in France has sought clarification on the detention of Telegram CEO Pavel Durov. The embassy stated that it aims to protect his rights, but France has been uncooperative. Durov’s arrest has sparked controversy, with Russian officials labeling him a political prisoner. Russia Seeks Answers on Telegram […]
RBI Governor Warns Against Rapid CBDC Launch, Advocates Gradual Approach
The governor of India’s central bank, the Reserve Bank of India (RBI), Shaktikanta Das, has highlighted the challenges of implementing cross-border digital currency interoperability and the necessity for robust governance. He emphasized the importance of gradual central bank digital currency (CBDC) rollout and data-driven insights from pilot programs. RBI Governor Warns of Challenges in Digital […]
