Page 22 - Cryptocurrency

RBI Governor Shaktikanta Das sticks to stand on crypto assets ban

G20 recently adopted road map on such assets

Bitcoin hits two-month high above $30,000 in volatile trading week

Bitcoin, the largest cryptocurrency by circulation, climbed as high as $30,022, its highest since July 23. It was last up 4% on the day

India's crypto landscape on verge of transformation, says WazirX VP

Rajagopal Menon, vice president at WazirX, discusses the impact of recent G20 agreements on India's evolving crypto industry and predicts a transformative year ahead

Over 1,000 HP cops fell victim to crypto fraud, quit jobs to promote it

Over a thousand police personnel fell victim to a fake local cryptocurrency created by fraudsters in Himachal's Mandi district, an official said on Thursday. A majority of the police personnel who invested in the fake cryptocurrency were duped of crores of rupees, but some of them made huge gains, became promoters of the scheme, and roped in more investors for it, according to investigators of the Special Investigation Team (SIT) constituted to probe the scam. According to police, at least one lakh people have been duped by the fraudsters in the cryptocurrency fraud, and 2.5 lakh IDs have been found which included multiple IDs of the same person. To get investors, the scammers launched two cryptocurrencies 'Korvio Coin' (or KRO) and DGT Coin' and created fake websites with manipulated prices of these digital currencies. They lured the initial investors by promising them high returns in a short span of time. They also created a network of investors, who further expanded the chain

Crypto fraud: Navi Mumbai cyber police freeze accounts worth Rs 32.66 cr

The Navi Mumbai cyber police conducting the probe into a cryptocurrency fraud have frozen several bank accounts involving amounts worth Rs 32.66 crore, an official said on Wednesday. Senior police inspector Gajanan Kadam of the cyber police station in Navi Mumbai said they received a cheating complaint in August from a man who claimed to have invested more than Rs 6.6 crore in cryptocurrency trading. The man stated in the complaint that a woman caller befriended him and later asked him to invest in cryptocurrency trading while assuring good returns. As the complainant started investing huge amounts, he received a total of Rs 75 lakh in returns on various occasions, but later stopped getting the same, the official said. An offence in this connection was registered with the cyber police under various sections of the Indian Penal Code and the Information Technology Act. A police probe team enquired with various banks where the money was paid by the complainant and as a first step, go

Progressive and proactive: Crypto players all praise for IMF-FSB plan

Investments in resources, technology, and personnel would be necessary to ensure compliance

G20 finance ministers and central bank governors adopt crypto road map

Briefing reporters in Marrakesh, Finance Minister Nirmala Sitharaman said the roadmap on crypto assets is the big step forward that came from the FMCBG discussion

World Bank needs headroom to help low-income countries, says G20

Addressing a press conference, Finance Minister Nirmala Sitharaman said the members appreciated the work of the Independent Expert Group (IEG) and welcomed the report

G20 ministerial for swift implementation of roadmap to deal with crypto

The G20 Roadmap on Crypto Assets adopted by the G20 Finance Ministers was spelt out in a Synthesis Paper prepared jointly by the International Monetary Fund (IMF) and Financial Stability Board (FSB)

Crypto wrap: Israel-Hamas war ignites sell-off, Ethereum lowest since March

Cryptocurrency news: A higher-than-expected US inflation in September also resulted in a sell-off pressure in the market

G20 FMCBG releases joint communique adopting roadmap on crypto assets

While welcoming the G20 IEG rpt on strengthening MDBs, the communique said that transformative changes are required in MDBs' vision, operating models and financing capacities

Bankman-Fried stole customer funds from start of FTX: Co-founder to jury

Sam Bankman-Fried authorised the illegal use of FTX customers' funds and assets to plug financial gaps at an affiliated hedge fund from the exchange's earliest days, FTX's co-founder Gary Wang told a New York jury on Friday, as prosecutors pressed their case that Bankman-Fried was the mastermind behind one of the biggest frauds in US history. Eventually, the losses at the hedge fund, Alameda Research, became so large that there was no way to hide them any longer, Wang said in his second day of testimony. FTX was not fine, Wang said, referring to the now-infamous tweet that Bankman-Fried wrote only a few days before the exchange filed for bankruptcy in November 2022. Prosecutors allege that Bankman-Fried, 31, stole billions of dollars from investors and customers in order to fund a lavish lifestyle in The Bahamas and buy the influence of politicians, celebrities and the public. Wang was FTX's chief technology officer and is part of what has been referred to as the inner circle of FT

Bankman-Fried lied to the world as he built crypto empire: Prosecutors

Prosecutors included several references to former Alameda Research co-chief executive officer Caroline Ellison in their opening statements

Jury selection resumes at fraud trial for FTX founder Sam Bankman-Fried

The final stages of jury selection resumed on Wednesday at the fraud trial of FTX founder Sam Bankman-Fried in New York City. Opening statements were expected to begin by the early afternoon in Manhattan federal court, where Bankman-Fried has entered not guilty pleas to seven charges. Prosecutors say the California man defrauded thousands of investors and customers in his businesses by siphoning off their money for his own uses. Defense lawyers insist that their client had no criminal intent as he became famous in the crypto world while growing FTX and a related business, Alameda Research, into multibillion dollar heavyweights in the cryptocurrency industry. Attorneys and Judge Lewis A. Kaplan were reducing a pool of 45 prospective jurors to a jury of 12 with six alternates, who would sit through the duration of a trial projected to last up to six weeks. Bankman-Fried, 31, became a target of investigators when FTX collapsed last November amid a rush of customers seeking to recover

FTX Founder Sam Bankman's fraud trial gets under way with jury selection

US District Judge told group of 50 prospective jurors gathered in courtroom on top floor of a federal courthouse in lower Manhattan that he would ask them questions to try to seat a 12-member panel

FIU likely to launch global crypto exchange database by March next year

The exchange will also have information on the exchanges which are operating on the dark web

Thousands lose over Rs 200 cr in series of crypto rug-pulls in Himachal

Police are yet to nab the cryptocurrency fraud kingpin who may have swindled thousands of people across Himachal Pradesh of more than Rs 200 crore since 2018, the year the crypto fever reached its peak. The gang lured people by promising high returns in a short span of time in crypto investments and created a network of investors. The initial investors then were baited to reel in other people in a ponzi-style scheme. The matter was raised in the Vidhan Sabha by Independent MLA Hoshyar Singh who pegged the amount of money swindled from people in Kangra and Hamirpur alone to be upwards of Rs 200 crore. In the wake of Singh's assembly speech, a special investigation team was formed to probe into the matter. The exact amount defrauded is yet to be ascertained, Deputy Inspector General of Police, Northern Range, Abhishek Dhullar, who is heading the SIT, told PTI on Monday. The frauds used a combination of misinformation, deception, and threats to maintain control over their scheme and

Inside Crypto Revolution: Meet the Best Crypto Leaders in India

.

Crypto wrap: Ethereum outperforms Bitcoin as investors tread with caution

Apart from Ethereum, almost all the major crypto coins traded range bound in the last one week

Judge rejects bid to free FTX founder Sam Bankman-Fried during his trial

A judge on Thursday closed the door on FTX founder Sam Bankman-Fried's hopes to be free during his trial, although he extended the hours that the cryptocurrency peddler can meet with his lawyers in a federal courthouse. At a hearing, Judge Lewis A. Kaplan rejected a request by Bankman-Fried's lawyers to free their client so he could better prepare his defence against charges that he defrauded cryptocurrency investors. Bankman-Fried, 31, faces the start of his trial Tuesday in Manhattan. He has pleaded not guilty. His lawyer, Mark Cohen, told Kaplan that he cannot meaningfully confer with his client as long as Bankman-Fried is jailed at the Metropolitan Detention Centre in Brooklyn. And he insisted that there was no risk that Bankman-Fried would flee, prompting Kaplan to interrupt him. The closer we get to trial, the more I'm wondering about that, Kaplan said. "Your client, if there is conviction, could be looking at a very long sentence. If things begin to look bleak maybe he fee