Home » Tag Archives: Banks

Tag Archives: Banks

Thai Bitcoin Scandal Implicates Stock Exchange and Staff at 3 Banks

Staff at three Thai banks and an investor in the Stock Exchange of Thailand (SET) are among the people implicated in a mega bitcoin scandal, local media reported on August 16. According to the Thai police, several bank employees failed to report huge transfers to the country’s Anti-Money Laundering Office, a violation of the country’s financial services industry rules. The ...

Read More »

Dutch Trader Loses Reclamation Suit Against Banks That Froze His Accounts

In November 2016, a Dutch cryptotrader tried to buy his first 10 bitcoin, first using funds from his ING bank and later from ABN Amro. Both banks denied the transactions. He subsequently filed a complaint with Kifid (Financial Services Complaints Institute), a resource that mediates between consumers and small businesses when there are complaints about financial products or services. According ...

Read More »

If Bitcoin is Rat Poison, the Banks Are the Rats: Pantera Capital CEO

Pantera Capital officials continue to maintain an upbeat outlook for cryptocurrency amidst the current market downturn. In an ICO and digital asset funds conference call Tuesday, CEO and chief investment officer Dan Morehead said blockchains are the next step in the evolution of equity, while cryptocurrency is a superior form of currency. He called bitcoin the biggest disruption of this ...

Read More »

Goldman Sachs, Wall Street Banks Sink $32 Million into Blockchain Startup

We may, as Lightning Labs CEO Elizabeth Stark said earlier this year, be entering a “bitcoin not blockchain” world, but the global banking cabal isn’t ready to capitulate on its support for enterprise blockchain products just yet. Indeed, Axoni, an enterprise blockchain startup founded in 2013, has just concluded a $32 million Series B funding round headlined by a group ...

Read More »

World Bank’s Blockchain-Based Bonds — A Step Toward Adoption?

In what is being called a world first, the World Bank has ordered the creation of a blockchain-based bond through Australia’s Commonwealth Bank (CBA). It marks a very clear move by some of the world’s most influential financial institutions to start leveraging blockchain technology to improve their offerings. CBA has already developed the blockchain-based system, using a private Ethereum blockchain. ...

Read More »

Tinder CTO: Millennials Prefer to Invest in Crypto, Don’t Trust Banks

Brian Norgard, the Chief Technology Officer (CTO) of popular dating app Tinder and an early stage investor in SpaceX and Tesla, has stated that millennials prefer to invest in crypto rather than reserve currencies and conventional assets. Citing a report from CB Insights, Norgard listed the following as being “Millennial investing patterns & preferences”: Low fees Desire for home ownership Preferred ...

Read More »

Blockchain Adoption to Save Banks $27 Billion Annually by 2030: Research

A study conducted by market intelligence firm Juniper Research indicates that by deploying blockchain technology financial institutions stand to generate savings amounting to over US$27 billion on cross-border settlement transactions before the end of 2030. On the basis of on-chain transactions, the costs will be reduced by over 11%. #Blockchain deployments to save #Banks more than $27bn annually by 2030, ...

Read More »

Bank of Thailand Allows Banks to Open Subsidiaries for Crypto Dealings

The Bank of Thailand (BoT) has recently allowed local banks to set up subsidiaries for dealing with cryptocurrencies, local Thai source Blognone reported August 3. According to a regulatory announcement published by the BoT on August 1, Thai banks can now issue digital tokens, provide crypto brokerage services, run crypto-related businesses, and invest in cryptocurrencies through subsidiaries. However, the recent ...

Read More »