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National Australia Bank joins crypto exchange boycott, cites ‘scams’

Another major bank in Australia has said it will block certain cryptocurrency platforms, citing high levels of scam risk in the industry.National Australia Bank (NAB) on July 17 officially announced a set of new measures to protect customers from fraud as part of its “bank-wide scam strategy.”Alongside halting “millions in

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Trezor CEO cites usability as top factor for the hardware wallet: BTC Prague

Amid the expanding trend toward self-custody, hardware wallet Trezor's CEO Matej Zak has highlighted the most relevant development vector for the company so far - enhancing usability to significantly increase the number of users over the next few years.Speaking to Cointelegraph at the BTC Prague 2023 conference on June 9, Zak

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Binance pulls out of Canada, cites incompatibility with local market conditions

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On Friday, May 12, Binance announced its departure from the Canadian markets. Posting on Twitter, the world’s largest exchange by client count, attributed its decision to Canada’s new stablecoin guidance and investor limits for crypto exchanges. A

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GAO cites exposure to digital assets in exploring collapse of Signature Bank

The United States Government Accountability Office, or GAO, has released its preliminary review of the failures of Silicon Valley Bank and Signature Bank — and included exposure to deposits from the cryptocurrency industry.In a report released on May 11, the GAO said “poor governance and unsatisfactory risk-management practices” led to

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FDIC Cites Poor Management, Contagion Risk as Key Contributors to Signature Bank Failure

The Federal Deposit Insurance Corporation (FDIC) published a 63-page report outlining issues Signature faced, attributing its failure to “poor management,” saying the bank heavily relied on uninsured deposits, did not have strong liquidity risk management practices and maintained poor risk management in general. These factors were exacerbated by a bank

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Paxful co-founders’ litigation cites misappropriation of funds, money laundering, U.S. sanctions evasion

A bitter dispute between Paxful’s co-founders, Artur Schaback and Mohamad (Ray) Youssef, in Delaware's courts may have been the real reason behind the Bitcoin marketplace’s sudden closure on April 4. Schaback and Youssef, who started Paxful in 2015 with a shared passion for Bitcoin (BTC), are now litigating the company’s control, with

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Crypto miner Hive Blockchain posts wider losses, cites Ethereum Merge

Vancouver-based cryptocurrency mining firm Hive Blockchain Technologies Ltd. reported bigger losses in its latest quarterly earnings report published Tuesday, mainly due to Ethereum’s Merge and lower Bitcoin prices. See related article: Bitcoin mining difficulty dips 0.5% over two weeks after hitting record highFast factsIn the quarter that ended on Dec. 31,

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