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Three months after Faruk Fatih Özer — the founder and former CEO of Thodex — was detained in Türkiye, he received a prison sentence of seven months and 15 days for failing to submit documents requested during the trial.Thodex was once one of the biggest crypto exchanges in Türkiye before
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“For those operating in the blockchain space, it’s crucial to focus on growth and adoption, both at the retail and institutional levels,” noted Zatoshi. Let us introduce Zachari Saltmer, the influential co-founder of One Big Fund, affectionately known in his circles as Zatoshi. As a seasoned trader and venture capitalist, his
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Barney Frank, a former member of the United States House of Representatives and board member of Signature Bank, has pointed fingers at certain members of the public in the wake of the bank’s collapse.In a May 30 hearing before the New York State Senate, Frank said he had “no mea
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Genesis Global Capital, the now bankrupt lending arm of Digital Currency Group (DCG), has failed to pay approximately $630 million due to creditors, leading to discussions among stakeholders about a potential default. The situation highlights the
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The Malaysian SC has urged the local investors to immediately cease trading via Huobi Global, withdraw their investments, and close their accounts. A leading centralized crypto firm Huobi Global Limited and its Chief Executive Officer Leon Li have been accused of operating a digital asset exchange in Malaysia without registration. As
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On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading
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Bitcoin (BTC) starts a new week digesting major macroeconomic news as the United States sees the second-largest bank failure in its history.After a sideways weekend, BTC/USD was already volatile into the new weekly and monthly candle as downside kicked in.After steadying below $29,000, BTC price action is already facing more
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The United States Federal Deposit Insurance Corp’s (FDIC) post-mortem assessment of Signature Bank of New York (SBNY) revealed poor management and inadequate risk management practices as the root cause for its collapse.Signature Bank was shut down by federal regulators on March 12 in a bid to protect the U.S. economy
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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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Ali Shamkhani, secretary of the National Security Council of Iran, has stated that the recent bilateral cooperation efforts between his country and Russia are contributing to rendering U.S.-established sanctions useless at a global level. The official noted that many other countries are also in this course of action — abandoning
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