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

Finance

"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

Crypto fund Galois Capital is shutting down

Crypto fund Galois Capital is shutting down

Cryptocurrency hedge fund Galois Capital has announced its closure. The reason was the FTX exchange The company had kept half of its funds on the platform. They are now blocked and the timeline for repayment is unclear. As for the unlocked funds, the fund will distribute almost the entire amount

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

Employees arrested in India

Employees arrested in India

In India, employees of TPG Global FX were arrested for running a fraudulent scheme that encouraged people to invest in Forex trading through its offshore platform. Shailesh Kumar Pandey and Prasenjit Das used the funds to buy movable and immovable property for their personal use, raising a substantial amount of

France to tighten rules for registering cryptocurrency companies

France to tighten rules for registering cryptocurrency companies

From January next year, cryptocurrency companies will face a tougher list of requirements to obtain a license in France. In particular, applicants will have to comply with rules regarding possible conflicts of interest. Conflict of interest, internal controls and cybersecurity clauses have been added to the list of requirements for

PayPal stored $600m in cryptocurrency in 2022

PayPal stored $600m in cryptocurrency in 2022

The platform stored a total of $604 million of its customers' cryptocurrency in 2022, according to an annual report from payments service PayPal. About 90% of the portfolio, took Bitcoin ($291 million) and Ethereum ($250 million).

Tether earns $700m in 3 months

Tether earns $700m in 3 months

Stablecoin issuer USDT Tether has released its quarterly report. It says that the company posted a net profit of $700 million in the last 3 months of last year. The profit was reinvested in its reserves. The report says that Tether has total assets of $67.04 billion against liabilities

Britain plans to launch a digital pound this decade

Britain plans to launch a digital pound this decade

The Bank of England and Treasury have published a draft CBDC. The Treasury believes the digital pound could become a reliable and affordable means of payment in a digitized economy, but it's too early to talk about a pilot launch of the initiative. The digital pound is likely to work

Revolut launches in-app steaking

Revolut launches in-app steaking

Non-bank Revolut is preparing a cryptocurrency-stacking service that will be available to EU and UK customers. According to insiders, the company will announce the new product this week. Initially, there will be 4 coins available for stacking - Ethereum (ETH), Polkadot (DOT), Tezos (XTZ) and Cardano (ADA). Depending on the

Fraud

Fraud

The more comfortable life becomes in the banking world, the greater the risks for all users. Fake links and websites have long been nothing new. Now fake QR codes posted by criminals offering help with certain issues. The aim is the same - to get personal information and bank card