Former Deutsche Bank Employee Accused of Crypto Fraud Will Pay $1.5M
Rashawn Russell, a former employee of Deutsche Bank, has admitted to being involved in a scam to defraud 29 clients of the R3 crypto fund for a total of $1.5 million.
Tether Announces it Will Process USD Transactions Through Britannia Bank
Last week, Tether’s financial statements showed that its USDT reserves increased by $850 million in comparison to their previous amount, bringing its excess reserves to $3.3 billion.
US Congress Accuses Fed of Creating Barriers to Stablecoins Issuance by Banks
A group of congressional members have written to the Federal Reserve System’s leader Jerome Powell expressing their concern that the recent moves from the Fed to increase oversight of banks’ cryptocurrency dealings will impede the progress of the bill to regulate stablecoins.
OKX and Bybit Suspend Cooperation with Large Russian Banks
Russian users of crypto exchanges Bybit and OKX will now no longer be able to withdraw funds to accounts with Sberbank and Tinkoff Bank.
FDIC: Cryptocurrencies Pose Risks to Banking System
The FDIC has noted in its annual review the potential for new and complex risks to the US banking system from crypto-related activities, citing fraud, legal ambiguities, misleading statements, and vulnerabilities in risk management.
Hang Seng Bank Limits Crypto Companies to Simple Accounts
Despite the Hong Kong government making efforts to establish the territory as a crypto hub, local crypto companies are having difficulty in securing corporate bank accounts.
Major Banks Are Beginning to Acknowledge BTC’s Potential: Michael Saylor
Michael Saylor, CEO of MicroStrategy, has recently expressed his conviction that major banks are beginning to acknowledge the huge potential of Bitcoin.
