Author: admin
downward angle icon An icon in the shape of a downward facing corner. Sam Bankman Freed appeared in Manhattan federal court on January 3. AP Photo/Craig Rattle Sam Bankman Freed was found guilty on all seven charges against him.He displayed a characteristic lack of self-awareness during his testimony.The future of cryptocurrencies will likely lie in regulation and institutions, marking the end of the Wild West. A New York jury took less than five hours Thursday to find Sam Bankman Freed guilty of all seven charges the FTX founder faced.During the month-long trial, Bankman Fried testified in her own defense, displaying…
Important points FTX's former CEO and founder, Sam Bankman Fried, was found guilty on all seven charges he faced in connection with the misappropriation of customer funds and the exchange's eventual collapse.While the ruling may not have a direct impact on crypto market prices, some market watchers have warned that the ruling could give retail investors false buying signals. .Although some retail investors may be returning to cryptocurrencies, they should not restore confidence in cryptocurrencies too soon.There is renewed optimism surrounding Bitcoin as more traditional financial players enter the space, but that doesn't necessarily apply to all other cryptocurrencies. Almost…
Stay informed with free updatesJust sign up for euro area economy myFT Digest — delivered straight to your inbox.The eurozone's unemployment rate has risen from record lows, unexpectedly rising to 6.5% as high interest rates and economic stagnation begin to take a toll on the region's job market.The number of unemployed people in September rose by 69,000 from the previous month, bringing the total for the 20 euro member countries to just over 11 million, the EU's statistics agency Eurostat said on Friday. The European Central Bank halted a series of rate hikes last week and is closely monitoring the…
St. Galler Kantner Bank (SGKB), Switzerland's fifth largest cantonal bank, is offering its customers the opportunity to buy and trade cryptocurrencies, taking the country's digital asset adoption beyond wealthy customers. This is a movement to expand to include individual consumers.Founded in 1868 and with 35 branches in the eastern part of the country, SGKB works with SEBA Bank, a FINMA-regulated digital asset specialist, allowing local banks to store Bitcoin (BTC) and Ether (ETH). and assist in providing trading services. .Christian Vieri, head of investment solutions at SEBA Bank, said the first customers will be the bank's wealth management customers, with…
Silicon Valley, California, USA –NewsDirect– King Newswire(King NewsWire) – Monero Mixer, anonymous giant Monero mixing serviceannounced the launch of an innovative new crypto mixing service designed to provide maximum anonymity to users.In today's digital world, privacy in cryptocurrency transactions is more important than ever. Monero Mixer's new mixing service takes this to the next level, making your transactions and identities impossible to trace.Monero Mixer's mixing service now allows users to mix their Monero transactions with those of other users, effectively hiding their transaction history. This process is completely anonymous and secure, allowing users to remain anonymous for all cryptocurrency transactions.“Our…
Payment giant PayPal has successfully registered as a cryptocurrency service provider with the UK Financial Conduct Authority, the regulator's website revealed.Paypal UK Limited, which was registered on Tuesday, is permitted to engage in “certain crypto asset activities”. Companies offering cryptocurrency services in the UK must be approved for registration and comply with the FCA's anti-money laundering regulations.The opening of registration in 2020 means that PayPal can also approve its own crypto-related communications under the recently imposed marketing regime. In August, PayPal announced that it would temporarily suspend the purchase of cryptocurrencies in the country to comply with regulations. A spokesperson…
Cyril Marcilhassy/Bloomberg/Getty Images Shoppers at the Beau Beau market in Paris, France, earlier this year. The eurozone economy contracted in the third quarter, raising the possibility of a recession. London CNN — The euro zone economy is at risk of slipping into recession later this year after official figures on Tuesday showed output contracted slightly in the third quarter. Initial estimates released by the European Union's statistics agency Eurostat showed that the gross domestic product (GDP) of the 20 euro-using countries fell by 0.1% in the July-September period compared to the previous three months. The decline follows a narrow 0.2%…
While the US economy is gaining momentum, Europe is on a very different path. This is due to the combination of two high interest rates and the prolonged effects of Russia's war in Ukraine, resulting in a prolonged economic slowdown.Eurozone growth this summer was stronger than expected, contracting by 0.1%. Record high interest rates to fight inflation have slowed economic activity in the region's two largest economies, Germany and France, the European Statistics Office reported on Tuesday.This anemic pace is in sharp contrast to the United States, where the economy has grown rapidly despite the Federal Reserve's increased interest rates…
London CNN — The euro zone economy is at risk of slipping into recession later this year after official figures on Tuesday showed output contracted slightly in the third quarter. Initial estimates released by the European Union's statistics agency Eurostat showed that the gross domestic product (GDP) of the 20 euro-using countries fell by 0.1% in the July-September period compared to the previous three months. The decline follows a narrow 0.2% rise in the April-June period and highlights the fine line between contraction and growth in the eurozone. GDP stagnated in the last three months of 2022 and the first…
Unlock Editor's Digest for freeFT editor Roula Khalaf has chosen her favorite stories in this weekly newsletter.Eurozone inflation fell to a two-year low of 2.9% in October, increasing expectations that the European Central Bank will not raise interest rates further.This figure compared with 4.3% in September and marked the region's slowest annual growth rate in consumer prices since July 2021. The development comes after the region's economy began to contract in the third quarter, mainly due to lower energy prices and lower food inflation, the EU's statistics arm Eurostat said. The 2.9% interest rate in October was 3.1% below economists'…