0 - 2023 | MachinaTrader.com

Major Crypto Exchanges Binance and Kraken Face Legal Battles, FTX Founder Denied Bail, BlackRock Discusses Bitcoin ETF with SEC, Tether and Bitfinex Agree to Share Information

Last week, the legal drama involving Binance, the world’s largest crypto exchange, and United States law enforcement came to a close with a plea deal. Binance and its former CEO, Changpeng “CZ” Zhao, admitted to violating U.S. Anti-Money Laundering laws and agreed to pay $4.3 billion in fines. As part of the deal, CZ resigned […]

Hong Kong to Maintain Grace Period for Crypto Firms Despite Recent Scandals

Hong Kong’s financial regulators have decided to retain the grace period for crypto firms despite recent scandals involving fraudulent activities in the crypto sphere. The grace period allows crypto firms to continue operating without a license until June 2024, giving them ample time to comply with new regulatory standards. The Securities and Futures Commission (SFC) […]

Circle Partners with SBI Holdings to Promote USDC Adoption in Japan

Global financial firm Circle has announced a strategic partnership with Japanese financial services company SBI Holdings, Inc. The partnership aims to promote the adoption of Circle’s USDC stablecoin and web3 services in Japan. Both parties have signed a Memorandum of Understanding (MOU) to work towards the circulation of USDC and expand the use of stablecoins […]

Crypto Phishing Kit Inferno Drainer Shuts Down After Enabling $80M in Scams

Inferno Drainer, a notorious crypto wallet-draining kit involved in cryptocurrency scams, has announced its shutdown. This kit has been responsible for phishing schemes that resulted in the theft of over $80 million in cryptocurrencies, affecting thousands of victims. Inferno Drainer gained attention after the shutdown of Monkey Drainer, which was responsible for stealing around $13 […]

Hong Kong Authorities Crack Down on Alleged $15.4 Million Crypto Scam

Hong Kong’s Securities and Futures Commission (SFC) has taken action against a suspected fraudulent crypto asset trading platform called Hounax. The SFC flagged the company earlier this month, marking a significant step in the city’s efforts to combat crypto-related scams. The Hong Kong Police Force has initiated an investigation into the alleged scam, following reports […]

Hong Kong Extends Grace Period for Cryptocurrency Exchanges Amidst Recent Scandals

A one-year grace period for cryptocurrency exchanges in Hong Kong will continue despite recent scandals. Julia Leung, Hong Kong’s Under Secretary for Financial Services and the Treasury, stated that fraud will still occur even if the grace period ends, so there are no plans to modify the grace period or other measures at this time. […]

Standard Chartered to Participate in China’s Digital Yuan Trials

British multinational bank Standard Chartered has announced its participation in trials of China’s digital yuan central bank digital currency (e-CNY CBDC), making it one of the first foreign banks to do so in the country. Through its partner City Bank Clearing Services Co., Standard Chartered will allow its clients to purchase, exchange, and redeem e-CNY […]

Hong Kong Police Investigate $15.4 Million Scam on Hounax Trading Platform

The Hong Kong Police have launched an investigation into Hounax, a cryptocurrency trading platform, following multiple complaints of scams totaling $15.4 million. Victims claim that they were lured into investing in crypto on the platform but faced difficulties when trying to withdraw their funds. Some victims are blaming the authorities for their losses. One victim, […]

Hive Digital Technologies Expands Crypto Mining Operations with New Data Center Acquisition in Sweden

Crypto miner Hive Digital Technologies Ltd. has expanded its data center operations in Sweden with the acquisition of a new property in Boden. This move is expected to enhance Hive’s Bitcoin production capabilities and is strategically located near its existing data center in the region. The company’s expansion aligns with its broader strategy of embracing […]

OKX Launches Crypto Exchange and Web3 Wallet in Brazil, Fostering Crypto Adoption and Prioritizing Security

Leading crypto exchange OKX has expanded its operations into Brazil with the launch of a new crypto exchange and Web3 wallet. The move comes despite the challenging regulatory environment for cryptocurrencies in many countries. The new exchange aims to provide Brazilian users with a secure platform to buy and trade cryptocurrencies. A recent study commissioned […]