Amir “Bruno Block” Elmaani, the 31-year-old Founder of the Oyster Protocol that powers Pearl (PRL) tokens, has pleaded guilty to allegations of tax evasion to the tune of $5.5 million. US prosecutors disclosed this on Thursday, noting that the crypto entrepreneur has agreed to pay restitution of at least the same amount.Elmaani...
Posts published by “Solomon Oladipupo”
The tech giant, Apple is finally introducing Apple Pay Later, its buy now, pay later (BNPL) product to the US markets, six months later than the earlier announced launch date of https://www.financemagnates.com/fintech/payments/apple-pay-later-will-it-make-or-break-bnpl/" target="_blank" rel="follow noopener">September 2022. However, the product will only become available to all eligible users “in the coming months,” Apple announced on Tuesday.The
US prosecutors have expanded the 12 count charges against Sam Bankman-Fried, the Founder of the now-bankrupt cryptocurrency exchange, FTX. An additional indictment sealed on Tuesday morning, alleges that the FTX Founder and others transferred approximately $40 million in bribes to one or more Chinese officials to unfreeze certain accounts in late 2021.Prosecutors Accuse Bankman-Fried of
Binance, the world’s largest cryptocurrency exchange by trading volume, on Friday launched the Proof of Reserves (PoR) for its Bitcoin (BTC) holdings in its latest show of transparency to reassure customers of its health following the sudden collapse of top cryptocurrency exchange FTX.A PoR is an independent audit conducted by a third party that seeks…
The United Kingdom and Singapore have agreed on a Memorandum of Understanding (MoU) on the UK-Singapore FinTech Bridge. The agreement was reached at the 7th UK-Singapore Financial Dialogue held in Singapore on Friday.The FinTech Bridge is aimed at promoting a structured engagement between the Monetary Authority of Singapore (MAS) and the His Majesty's Treasury to…
Global Brokerage Inc., the owner of FXCM, an online forex trading and contract for difference (CFD) broker, recorded a 21.6% growth in its net revenue in the second quarter of 2022.The net revenue in the quarter came in at $37.83 million, which is a significant rise from the $31.1 million generated during https://www.financemagnates.com/forex/global-brokerage-sees-total-net-revenues-of-3111m-during-q1-2022/">the first quarter
The Federal Financial Supervisory Authority (BaFin), Germany’s financial industry regulator, on Friday https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/unerlaubte/2022/meldung_2022_08_12_Latoken_LiquiTrade.html" target="_blank" rel="nofollow noopener">announced that it has investigating the Cayman Island branch of LiquiTrade Limited.The German regulator said the company has not been licensed under the German Banking Act “to conduct banking business or provide financial services”...