Time and money are largely interchangeable terms. - Winston S. Churchill

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Bing Introduces Image Recognition with a Twist: The Necklace Deception

Bing Introduces Image Recognition with a Twist: The Necklace Deception

The age of technological marvels continues to evolve as Microsoft, the tech behemoth, introduced a new image recognition feature in its search engine, Bing. As exciting as this development might sound, it has also opened new avenues for those wanting to manipulate and deceive the system. But Microsoft anticipated this

U.S. to launch FedNow instant payment service

U.S. to launch FedNow instant payment service

The Fed, the main financial regulator in the U.S., will launch FedNow instant payment system in July. The central bank said in a statement. "As the launch nears, we urge financial institutions and their industry partners to accelerate preparations for the introduction of FedNow into the service." Some experts

SWIFT-transfers

SWIFT-transfers

A new scheme was found that allows to accumulate payments through SWIFT-transfers. The essence of the scheme is to swap virtual cards and split payments by $90. A kind of mixer that splits payments into hundreds of transactions, then transactions are exchanged through a third-party exchange for BTC. Then there

"If you invested in BTC after 2015, you simply lost money" - BIS

"If you invested in BTC after 2015, you simply lost money" - BIS

The Bank for International Settlements (BIS) has published a new report titled "Crypto shocks and retail losses". The organisation's main message is that most retail investors have lost money investing in BTC. "Data from major crypto trading platforms between August 2015 and December 2022 shows that the majority of users

Mt.Gox's two biggest lenders opt for BTC payouts

Mt.Gox's two biggest lenders opt for BTC payouts

Mt.Gox's two largest lenders are due to receive some of their funds in September. They are Bitcoinica and MtGox Investment Funds (MGIF). They together represent about 1/5th of all Mt.Gox claims. The collapsed exchange is willing to pay them 90% of the demanded amount, and has offered

Charlie Munger calls for investing in banks, not cryptocurrency

Charlie Munger calls for investing in banks, not cryptocurrency

At the Daily Journal's annual investor meeting, Charlie Munger, the 99-year-old vice president of Berkshire Hathaway said . "I think people who oppose my position are idiots. Cryptocurrency is useless. Investors should avoid people who promote it." Munger himself suggests investing in banks rather than digital currencies. He also spoke out

Brazil's oldest bank adds ability to pay taxes with cryptocurrency

Brazil's oldest bank adds ability to pay taxes with cryptocurrency

One of Latin America's largest and oldest banks, Banco do Brazil, announced a partnership with Bitfy. As part of the agreement, the organisation's customers will be able to pay government fees and taxes in cryptocurrency.

Mastercard and Binance to launch cryptocurrency card in Brazil

Mastercard and Binance to launch cryptocurrency card in Brazil

Cryptocurrency exchange Binance will collaborate with Mastercard to launch the Binance Card in Brazil. Brazil will become the second country in Latin America, after Argentina, in which the Binance Card will become available.

Chainalysis

Chainalysis

Chainalysis' annual crime report reveals a new consolidation of cryptocurrency-based money laundering services. Only five cryptocurrency exchanges now allow cryptocurrency to be traded to launder money for real dollars, euros and yen. They process nearly 68% of all black market cash-out transactions.

Thailand to launch virtual banks in 2025

Thailand to launch virtual banks in 2025

Thailand's financial regulator has issued a press release on the licensing of virtual banks. The first details and nuances of the regulation will be known this year, with full operation of such institutions starting in 2025. The Central Bank took this step to stimulate competition in the financial segment and