Tag: Crypto

Ex-JP Morgan and Dresdner Kleinwort traders launch crypto prop platform

admin

Velotrade, a Hong Kong-based firm founded by former institutional derivatives traders from JPMorgan and Dresdner Kleinwort, has unveiled its funded trading platform that provides traders with capital while sharing profits based on performance, according to a Friday statement. Crypto proprietary trading is a model that allows traders to trade digital assets using capital provided by a proprietary trading firm rather than their own funds. To access a funded account, most retail models require traders to pass a challenge that evaluates profitability and risk discipline. If successful, traders will receive a…

Authorities Dismantle SocksEscort Proxy Network and Crypto Fraud

admin

US and European authorities said Thursday they had disrupted SocksEscort, a malicious proxy service used by cybercriminals to hide their identities while carrying out fraud, including cryptocurrency account takeovers. The DOJ said the service compromised at least 369,000 routers and other internet-connected devices in 163 countries, giving cybercriminals control over proxies that hid their true IP addresses. The platform reportedly enabled crimes, including bank fraud and cryptocurrency account takeovers, since 2020. In one case cited by prosecutors, a victim in New York lost roughly $1 million in cryptocurrency. Authorities said…

Crypto startup SwissBorg secures MiCA authorization from French regulator

admin

SwissBorg, a digital asset investment platform with over $1 billion in assets under management, has obtained approval under the European Union’s Markets in Crypto-Assets (MiCA) regulation from the French Autorité des Marchés Financiers (AMF), the firm announced Friday. The authorisation permits the platform to offer multiple crypto-asset services, including custody, administration, order execution, transfers, portfolio management, and crypto-asset advisory services. SwissBorg CEO Cyrus Fazel described the milestone as a defining moment for the company and the European crypto ecosystem, saying regulatory alignment is essential for building trust and enabling long-term…

DeFi User Loses $50M in Crypto Swap Gone Wrong

admin

A crypto user has lost millions during a crypto swap on the decentralized finance protocol Aave, with a Maximal Extractable Value, or MEV, bot also front-running the transaction to make almost $10 million. A recently funded wallet from Binance containing $50.4 million USDt (USDT) executed a swap via decentralized exchange aggregator CoW Protocol and the SushiSwap DEX on Thursday, aiming to convert the full amount into the Aave (AAVE) token. However, the wallet only received 327 AAVE tokens valued at approximately $36,000, according to Etherscan. The result was an almost…

Trump to speak at exclusive crypto and business conference at Mar-a-Lago next month

admin

President Donald Trump is set to headline a limited-access crypto and business conference at Mar-a-Lago on April 25, 2026, featuring a gala luncheon and keynote remarks. SATURDAY, APRIL 25 AT MAR-A-LAGO!  The Most Exclusive Crypto and Business Conference in the World & Gala Luncheon with PRESIDENT TRUMP and 18 other SUPERSTARS. Strictly Limited to only 297 attendees. Are You In?  Register Here: https://t.co/MBo3UBrzje pic.twitter.com/CWOVNK1kbU — TrumpMeme (@GetTrumpMemes) March 12, 2026 According to information on The Official Trump Meme’s website, attendance is limited to 297 participants, who qualify through a leaderboard…

BlackRock launches staked Ethereum ETF, expanding crypto product lineup

admin

BlackRock launched the iShares Staked Ethereum Trust ETF, a new crypto investment product that combines spot ether exposure with staking rewards. The fund, trading under the ticker ETHB, marks the asset manager’s third crypto ETF and its first to incorporate staking. ETHB will hold spot ether and stake a portion of its holdings on the Ethereum network, allowing investors to earn staking rewards alongside price exposure. The launch expands BlackRock’s growing digital asset lineup, which already includes the iShares Bitcoin Trust IBIT and the iShares Ethereum Trust ETHA. Since their…

JPMorgan Chase sued for allegedly enabling $328 million crypto Ponzi scheme

admin

A California investor has filed a class action lawsuit against JPMorgan Chase Bank, accusing the nation’s largest bank of helping facilitate a large-scale crypto Ponzi scheme run by Goliath Ventures. The complaint, filed this week in the US District Court for the Northern District of California, claims the scheme raised approximately $328 million from more than 2,000 investors, including plaintiff Robby Steele, who says he invested about $650,000, much of it from his retirement savings. According to the lawsuit, Goliath CEO Christopher Delgado used Chase accounts to collect investor deposits…

Offshore Crypto Exchanges Create Oversight Gaps, FATF Says

admin

A new report from the Financial Action Task Force (FATF) warns that crypto service providers operating offshore pose risks of money laundering, sanctions evasion and other illicit financial activity. In the report, titled “Understanding and Mitigating the Risks of Offshore Virtual Asset Service Providers (oVASPs),” the FATF said some offshore firms exploit gaps and differences in regulatory and supervisory coverage, making it harder for authorities to monitor activity and enforce Anti-Money Laundering (AML) and Counter-Terrorist Financing rules. “As a result, effective international co-operation may not be possible, including with the…

US Midterms may Fuel Crypto, Stock Market Recovery: Binance Research

admin

The US midterm elections may be the next catalyst to kickstart the crypto and stock market recovery, according to historical data shared by Binance Research. According to a Wednesday report from Binance Research, US midterm election cycles have historically been followed by strong rebounds in stocks and Bitcoin (BTC), potentially setting up a recovery window for risk assets after the 2026 vote. The 12 months following US midterm elections have resulted in an average 19% rise in the S&P500 and 54% rise for Bitcoin in the three post-midterm years on…

Bonk.fun Domain Hijacked to Push Crypto Wallet Drainer

admin

Bonk.fun warned users not to use its site after attackers hijacked the domain and pushed a fake wallet-draining prompt. The domain of Solana-based platform memecoin launchpad Bonk.fun has been hijacked after attackers gained access to a team account and deployed a wallet-draining scheme through the site. The Bonk.fun account on X warned users early Thursday not to interact with the website while the team worked to secure the domain. “A malicious actor has compromised the BONKfun domain, do not interact with the website until we have secured everything,” the project…