Tag Archives: AA News

Rashawn Russell, a former investment banker and registered broker who worked for Deutsche Bank, has pleaded guilty to charges relating to investment fraud, after orchestrating a cryptocurrency scheme to swindle investors. The ex-Deutsche executive could face a maximum sentence of 30 years in prison for his crimes. Russell to Pay Restitution of Over $1.5 Million The United States Department of Justice (DOJ) announced Russell’s guilty plea in a press release on Sept. 19, 2023....

The Singapore Police Force has seized more assets in relation to an ongoing money laundering probe, bringing the total value of confiscated funds to more than S$2.4 billion. The reported figure notably doubled from the first operation in August. Seized Assets Worth Over S$2.4 Billion In a statement published on Sept. 20, the Singapore Police Force said the additional asset seizures happened following additional operations by the police. All assets seized by the authorities so...

In a significant step towards tackling cybercrime and bolstering global security efforts, the IRS Criminal Investigation (CI) recently collaborated with international counterparts to provide advanced training to Ukrainian law enforcement officers. The focus was on the intricacies of cryptocurrency and blockchain tracing. Strengthening Global Efforts Against Crypto-Enabled Crime Expanding on the previous successful cyber training given to Ukrainian law enforcement in May, the...

The Bank of Russia is contemplating 2025 to be the year when the digital ruble, the local central bank digital currency (CBDC), may see widespread adoption in the country. This move indicates the central bank’s strategic approach to modernizing the payment landscape in the nation. Olga Skorobogatova, the first deputy governor of the Bank of Russia, emphasized that the digital ruble is viewed as an additional payment method alongside existing options like the Faster Payments...

The Federal Reserve has released a comprehensive working paper delving into asset tokenization and Risk-Weighted Assets (RWA). As the financial landscape continues to evolve, these innovative financial instruments garner significant attention for their potential to revolutionize investment strategies and reshape traditional markets. The paper explains that tokenization, similar to stablecoins, consists of five core components: a blockchain, a reference asset, a valuation...

Ethereum underwent the Shanghai upgrade to enhance network activity and strengthen the DeFi ecosystem about a year ago. However, a recent report from JPMorgan suggests the upgrade has not met expectations due to an overall decrease in the network’s activity since then. Ethereum’s Network Activity Declines Post-Upgrade The Shanghai upgrade was a milestone for Ethereum, transitioning the blockchain from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. This...

A dispute over Bitcoin investments took a tragic turn when a 35-year-old husband, Kritsada, shot his 31-year-old wife, Pitsamai, leading to a six-hour standoff with the police. The incident unfolded in the Uthai district of Ayutthaya province. Husband’s Bitcoin Loss Leads to Tragedy The incident began when Kritsada, agitated by a loss of 700,000 baht (around $19,500) in Bitcoin investments, confronted his wife, leading to a dispute. The tension escalated to a point where...

Though Bitcoin (BTC) continues to trade well below its 2021 November 2021 highs, Anthony Scaramucci, the founder of SkyBridge Capital and former White House communications chief, remains steadfastly bullish on the asset. Speaking at the Messari Mainnet conference in New York, Scaramucci expressed confidence that the worst of the bear market is now behind us. Why Bitcoin Goes Up From Here: Scaramucci During a fireside chat titled “Why I’m still bullish,” Scaramucci encouraged...

Bankrupt crypto exchange FTX has filed a lawsuit against the former employees of its Hong Kong affiliate Salameda, seeking to recover more than $157 million fraudulently taken by them. According to a filing with the United States Bankruptcy Court for the District of Delaware, the defendants leveraged their connections to FTX employees and skipped a long line of pending withdrawal requests to retrieve millions in crypto assets from their accounts before the exchange filed for...

Binance has seen immense activity on one of its Ethereum hot wallets in recent weeks. However, things got heated up on September 21st as a result of high on-chain activity by the Binance 14 wallet. The hot wallet, in question, spent an astonishing 530 Ether in gas fees, worth around $840k, in a span of just 24 hours. High Gas Fees Data from Dune Analytics’ dashboard suggested that the address processed 146,582 transactions during the same period. As a result, the gas fees on...