due diligence – DIGIT INFO

FTX leadership sues Sam Bankman-Fried over $220M deal made prior to bankruptcy

DIGIT — Thu, 18 May 2023 07:57:17 +0000

When FTX tried to sell the platform after filing for bankruptcy, the top bid was for just $1 million, representing a 99.5% decline in value.

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UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal

DIGIT — Sun, 19 Mar 2023 00:35:04 +0000

After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the […]

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US Accounting Watchdog Issues Warning on Crypto Proof-of-Reserve Audits: Investors Urged to Exercise Caution

DIGIT — Thu, 09 Mar 2023 21:30:32 +0000

According to a recent warning by the U.S. Public Company Accounting Oversight Board (PCAOB), crypto proof-of-reserve (POR) audits have limitations, and the board believes that investors should exercise caution when dealing with companies using POR audits. PCAOB Calls for Investor Caution and Due Diligence When Using Proof-of-Reserve Reports The U.S. accounting watchdog recently issued an […]

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Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’

DIGIT — Thu, 09 Mar 2023 17:30:19 +0000

After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously warned about Silvergate. However, some critics are dismissing Warren’s opinion as “terribly misinformed” and claim that she is “tossing out egregious accusations.” Crypto Proponents Offer Different Perspectives on Silvergate […]

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Silvergate CEO calls out ‘short sellers’ spreading misinformation

DIGIT — Tue, 06 Dec 2022 07:00:00 +0000

In the statement, Lane also took the opportunity to “set the record straight” about its investment relationship with FTX and the firm’s “robust risk management approach.”

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No red flags at FTX despite 8 months of ‘extensive due diligence’ — Temasek

DIGIT — Thu, 17 Nov 2022 05:59:27 +0000

Despite eight months of due diligence, investment firm Temasek found no major concerns with FTX’s financials and no sign that the crypto exchange would eventually collapse.

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Mercadolibre Inks Partnership With Mastercard to Secure Its Crypto Ecosystem in Brazil

DIGIT — Fri, 10 Jun 2022 11:30:19 +0000

Mercadolibre, one of the biggest “e-tailers” in Latam, has partnered with credit giant Mastercard to make use of its tech to secure the cryptocurrency ecosystem of the company. Through this partnership, Mercadolibre will be able to use Mastercard’s Ciphertrace technology, to allow the company to enhance the control and security of the crypto transactions in […]

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Indian Banks Halting Services to Crypto Industry Post RBI Clarification

DIGIT — Sun, 27 Jun 2021 14:17:28 +0000

Several Indian banks have reportedly halted services to customers dealing in cryptocurrencies despite the central bank, the Reserve Bank of India (RBI), informing them that the banning circular is no longer valid. The latest bank to join the fray is IDFC First Bank. IDFC First Bank has become the latest bank to halt services to […]

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How Bitcoin of America’s Robust Compliance Program Made Possible the Restitution of Half a Million Dollars to Fraud Victims

DIGIT — Fri, 19 Jun 2020 13:30:32 +0000

Robust and effective compliance programs for virtual asset exchanges such as Bitcoin of America, which owns and operates a crypto exchange platform as well as a nationwide network of bitcoin ATM locations, isn’t simply a matter of operating a system for CIP, KYC, and AML procedures. An interview with Bitcoin of America’s attorney William Suriano […]

The post How Bitcoin of America’s Robust Compliance Program Made Possible the Restitution of Half a Million Dollars to Fraud Victims appeared first on Bitcoin News.

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Swiss Financial Watchdog Proposes $1,000 Client Identification Threshold for Crypto Transactions

DIGIT — Sat, 08 Feb 2020 04:45:04 +0000

Famous for its favorable business climate that has attracted hundreds of crypto companies, Switzerland is now expanding its financial regulatory framework. Some of the upcoming rules will increase oversight in the blockchain industry in compliance with new international standards regarding operations with digital assets. Also read: With New Regulations, Europe’s Crypto Companies May Be Running […]

The post Swiss Financial Watchdog Proposes $1,000 Client Identification Threshold for Crypto Transactions appeared first on Bitcoin News.

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