Author: News Desk

According to a recent report by blockchain analytics firm Chainalysis, the year 2023 witnessed a substantial drop in the funds stolen by hackers from cryptocurrency platforms, marking a decline of more than 50% compared to the previous year. In 2022, these malicious actors had managed to pilfer a staggering $3.7 billion from crypto platforms. However, in 2023, this figure plummeted to approximately $1.7 billion, representing a significant reduction of 54%. The primary catalyst for this decline in crypto theft was the notable decrease in decentralized finance (DeFi) hacking incidents. DeFi had experienced explosive growth in 2021 and 2022, with losses…

Switzerland’s Holcim (SIX:HOLN) has announced plans to spin off its entire North American operations through a New York flotation, a strategic move that could potentially value the business at approximately $30 billion. This significant development comes alongside the appointment of a new CEO, Miljan Gutovic, who will assume the role on May 1, succeeding Jan Jenisch. Holcim, one of the world’s largest cement manufacturers, anticipates completing this divestment in the first half of 2025. Jan Jenisch expressed confidence in securing shareholder approval for the flotation, emphasizing their intention to completely separate Holcim’s North American business by listing 100% of it…

Mark Scott, the lawyer implicated in the $400 million OneCoin cryptocurrency scam, has been handed a ten-year prison sentence after being found guilty of two counts related to bank fraud and money laundering in 2019. The sentencing took place yesterday, presided over by Judge Edgardo Ramos of the US District Court for the Southern District of New York, following several delays in the case. Prosecutors had sought a 17-year sentence, while the defense aimed for a five-year term. Scott’s involvement made him one of the initial high-profile figures linked to OneCoin, a notorious cryptocurrency scam recognized as one of the…

The Commodity Futures Trading Commission’s Office of Customer Education and Outreach (OCEO) has issued a crucial advisory to caution the public about the proliferation of Artificial Intelligence (AI) scams targeting investors. T his advisory, titled “Customer Advisory: AI Won’t Turn Trading Bots into Money Machines,” aims to highlight the deceptive tactics employed by these scams that exploit the allure of AI technology to make false promises of profitable returns. As AI technology becomes increasingly integrated into our daily lives, scammers are quick to exploit its potential, making bold claims of substantial profits through trading bots, trade signal algorithms, and crypto-asset…

Bitget, the cryptocurrency exchange, has taken a significant stride towards enhancing the security of its platform wallets by implementing Multi-Party Computation (MPC) technology. The aim of MPC is to fortify wallet protections through a combination of distributed computing, homomorphic encryption, and a Trusted Execution Environment (TEE). Bitget’s implementation of this cutting-edge technology involves breaking down private keys into segments distributed across multiple servers. This approach enables transactions to occur without exposing the keys in a single vulnerable location. The added layer of security from the Trusted Execution Environment (TEE) further safeguards the wallet infrastructure. Bitget’s commitment to security is evident…

Kraken, the cryptocurrency exchange, is bolstering its leadership team to navigate the ever-evolving global regulatory landscape. In a strategic move, the company has welcomed two highly experienced professionals to key executive roles. Gilles BianRosa, with more than twenty years of entrepreneurial and product leadership expertise, has assumed the position of Chief Operating and Product Officer (COO/CPO). His impressive career includes serving as the Chief Product Officer at the European Neobank N26, where he successfully executed the bank’s global product strategy, which notably included the launch of cryptocurrency trading in core markets. Prior to his role at N26, BianRosa played pivotal…

Apple (NASDAQ:AAPL) is gearing up to unveil its Q1/24 earnings report on February 1, after the market closes. Analysts’ consensus estimates place earnings per share (EPS) at $2.10 and revenues at $118.3 billion. Remarkably, Apple has consistently outperformed EPS forecasts in seven out of the last eight quarters. On the flip side, Wall Street anticipates a slight dip in sales, with expectations set at $89.28 billion, marking a 1% decrease compared to the previous year’s corresponding quarter. This would mark the company’s fourth consecutive quarterly sales decline. Concerns have also arisen regarding Apple’s high multiples and weakening margins, as highlighted…

The Securities and Exchange Commission (SEC) has taken significant steps to bolster investor protection within Special Purpose Acquisition Companies (SPACs) and their ensuing de-SPAC transactions. As SPACs have gained popularity as an alternative route for private companies to enter public markets, SEC Chair Gary Gensler has stressed the importance of implementing rules akin to those governing traditional Initial Public Offerings (IPOs). The new regulations primarily revolve around ensuring comprehensive disclosures, responsible usage of financial projections, and enhanced obligations for issuers. These measures aim to align SPAC disclosures with IPO standards and address concerns regarding SPAC IPOs and de-SPAC transactions, ensuring…

Swissquote, a Swiss brokerage firm with a banking license, has unveiled an innovative stock lending program, broadening its range of financial services. This announcement, made on Thursday, introduces an opportunity for customers to earn more than 5 percent interest on specific borrowed stocks. Initially, Swissquote will limit the lending program to certain shares and exchange-traded funds (ETFs), with plans to expand to other asset categories in the future. While some shares may yield an annual return exceeding 5 percent, the actual rate depends on demand, with a net client return rate of up to 1 percent per year for loaned…

The Securities and Exchange Commission (SEC) has recently caused a stir in the cryptocurrency market as it decided to delay its decision on BlackRock’s application for an Ether exchange-traded fund (ETF). This move by the SEC has left many in the crypto space eagerly awaiting the outcome, which is now scheduled to be revealed on March 10, 2024. The SEC’s decision to delay its ruling came just one day before the original January 25 deadline. In an official filing, Sherry Haywood, the SEC’s Assistant Secretary, explained that the delay was necessary to ensure a thorough review of the proposed rule…