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us government funds journalists exposing credit suisse and financial misconduct

In February 2022, a coordinated media effort targeted Credit Suisse and the Swiss financial sector, exposing connections to autocrats and corrupt officials hiding wealth in Switzerland. Notably, the US government funded journalists involved in this investigation, raising questions about bias in their reporting.

Tether invests in StablR to enhance stablecoin adoption in Europe

Tether has invested in Malta-based StablR to enhance stablecoin adoption in Europe, aligning with the upcoming MiCA framework set to take effect on December 30, 2024. StablR's EMI license enables the development of compliant stablecoins like EURR and USDR, aimed at improving liquidity and transaction efficiency. This partnership also leverages Hadron, a new tokenizing tool that ensures compliance with regulatory standards, addressing the growing demand for secure digital assets in the European market.

Tether strengthens European stablecoin market ahead of MiCA regulations

Tether is solidifying its position in Europe's stablecoin market, moving an average of $40 million daily to exchanges as the MiCA regulations approach. Despite Coinbase's delisting of USDT for European users, other major exchanges continue to support it. Tether's investment in StablR, a compliant stablecoin issuer, highlights its commitment to regulatory adaptation and innovation, with StablR's MiCA-compliant stablecoins enhancing liquidity and accessibility in the growing European market.

FTX Chapter 11 plan effective January 2025 with significant creditor recoveries

FTX's Chapter 11 reorganization plan will take effect on January 3, 2025, with initial payments to creditors expected within 60 days. The plan, which received strong creditor support, allows for recoveries averaging 119% of claims, with some receiving up to 140% in cash. Distribution will be facilitated by crypto custodians BitGo and Kraken, following the company's significant bankruptcy filing in late 2022 and the subsequent convictions of key executives.

remote enables usdc payments for global contractors through stripe partnership

Remote has introduced the option for US-based companies to pay contractors in 69 countries using USD Coin (USDC), enhancing its payroll services in partnership with Stripe. This feature allows for fast and stable compensation, addressing customer demand while ensuring compliance. Payments are settled nearly instantly, providing a hedge against inflation for recipients in various countries.

tether invests in stablr to strengthen presence in european stablecoin market

Tether has invested in European stablecoin issuer StablR, which issues euro and U.S. dollar stablecoins and recently obtained an EMI license in Malta to comply with EU regulations. Tether will support StablR with its tokenization platform Hadron, enhancing compliance and risk management. CEO Paolo Ardoino expressed concerns about the systemic risks posed by new regulations, particularly for the European banking sector, while highlighting the growing importance of stablecoins in the digital asset market.

FTX reorganization plan to begin in January 2025 with creditor repayments

FTX's reorganization plan will commence on January 3, 2025, prioritizing creditor repayments for claims under $50,000, which represent over 90% of all creditors. Payments, expected to recover up to 118% of claims, will be made in cash or stablecoins, facilitated by Kraken and BitGo. Eligible creditors must complete specific steps to receive distributions, following the approval of the Chapter 11 bankruptcy plan with 94% creditor support.

ftx sets january 2025 for chapter 11 reorganization and initial fund distribution

FTX has announced that its Chapter 11 reorganization plan will take effect on January 3, 2025, marking the initial distribution date for affected customers. The first distribution is expected within 60 days, with partnerships established with BitGo and Kraken to facilitate the process. FTX's native token, FTT, has seen a significant price increase, trading at $3 after a period of consolidation.

Scammers Threaten Global Banking Stability Amid Rising Fraud Epidemic

The rise of digital banking has coincided with a surge in sophisticated scams, leaving regulators and banks struggling to protect clients. Recent incidents, including a lawsuit against HSBC in Australia for scam-related failures, highlight the banking sector's inadequate response to escalating fraud risks. If confidence in banks erodes, it could trigger a global bank run, reminiscent of past financial crises.

mt gox transfers 172 million in bitcoin as market reaches new highs

Mt. Gox has transferred approximately $172.5 million worth of Bitcoin to unknown wallets shortly after BTC reached a new high of nearly $108,000. The exchange moved around 1,619.6 BTC in two transactions, with past movements often preceding creditor payouts. Currently, Mt. Gox holds about 36,085 BTC valued at $3.86 billion, while the deadline for creditor repayments has been extended to October 31, 2025.
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