Deine Gesundheit – collettassociates.com

• An investigation into digital asset exchanges in Moscow has found that some of them are ready to buy digital coins and deliver paper money in the U.K. without following KYC or AML procedures;
• Eight crypto exchanges were willing to exchange tether (USDT) for British pounds and deliver the cash to a recipient in London;
• The average monthly amount of money transferred through these wallets is estimated to be between $420,000 and $470,000.

Russian Crypto Exchanges Ready to Send Cash to London

An investigation into digital asset exchanges in the Russian capital has established that some of them are ready to buy digital coins and deliver paper money in the U.K. without following know-your-customer (KYC) procedures and anti-money laundering (AML) regulations. Transparency International Russia revealed this information in a report published on Wednesday.

Moscow City Crypto Exchange Study

The researchers identified more than 20 coin trading platforms operating from Moscow International Business Center, commonly referred to as Moscow City. Through conversations with operators, they also found that eight of them were ready to exchange U.S. dollar-pegged stablecoins for British pounds and hand over the cash to recipients in London without verifying their identities or conducting anti-money laundering checks.

Money Transfer Process

First, customers need to transfer an amount of tether (USDT) to a wallet address provided by the exchange. Once the payment is confirmed, the operator dispatches a courier who delivers fiat cash at a specified location in London on the same or following day.

Unexpected Money Flows

The authors noted that one of these platforms is Suex – a crypto broker blacklisted by OFAC for facilitating ransomware-linked transactions – which sent significant amounts of money abroad using Garantex, another blacklisted exchange located in Moscow City. According to Transparency’s analysis, an average monthly amount transferred through such wallets ranges between $420,000 and $470,000 USDT equivalents.

Conclusion

U .K anti-money laundering regulations require cryptocurrency exchanges registered with customer due diligence checks before any funds can be transferred abroad but none of these Russian platforms asked for identification or verification processes when transferring large sums across international borders thus posing a threat for financial security both domestically and internationally

• Plena Smart Wallet has launched a new Referral Program that offers rewards worth up to $1,000,000 in PLENA tokens.
• Existing customers can make as many referrals as they like and will earn 50 points each when a new user downloads the app and signs up through their referral link.
• The platform is also giving away rewards worth up to $100,000 to the Top 100 on the leaderboard.

Plena Smart Wallet Referral Program: Win Big with $1,000,000 in PLENA Tokens

Rules of the Program

Users simply need to share their referral link with their friends and family. Once a new user downloads the app and signs up through their referral link & successfully completes 3 Transactions on the Fantom chain , both the referring user and the new user will be earning 50 points each. Existing customers can make as many referrals as they like but they must be a new Plena App customer. This means that the more friends and family members you refer, the higher your chances of winning a significant reward.

Rewards Worth Up To $100,000 for Top 100 Players

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• On March 2, 2023, Coinbase announced that it is no longer accepting or initiating payments to or from Silvergate Bank.
• Silvergate delayed its 2022 fiscal year 10-K filing with the SEC and JPMorgan has downgraded the company’s stock from „neutral“ to „underweight“.
• Coinbase stated that all client funds remain safe and accessible, but it will no longer be working with Silvergate due to recent developments.

Coinbase Cuts Ties With Silvergate Bank

On March 2, 2023, the cryptocurrency exchange Coinbase announced that it is no longer accepting or initiating payments to or from Silvergate Bank. This was in light of recent developments such as the crypto bank’s delay of its annual 10-K filing with the U.S. Securities and Exchange Commission (SEC) and JPMorgan’s downgrade of the company’s shares from „neutral“ to „underweight“.

Silvergate’s Shares Expected to Be Highly Volatile

Prior to the opening bell on Wall Street Thursday morning, Silvergate’s shares had slid 17.20% in value over the past five days. At 8:23 a.m. Eastern Time, Coinbase made its announcement that it would no longer be associated with Silvergate Bank for safety reasons. The company also stated that all client funds remain safe and accessible at Coinbase despite cutting ties with Silvergate Bank.

Ledgerx No Longer Working With Silvergate

Hours before the Coinbase announcement, CNBC reported that Silvergate’s stock was expected to be one of the most active during Thursday’s trading session. It was also reported that Ledgerx has informed customers that they will now be conducting wire transfers through Signature Bank rather than through Silvergates as they are no longer working together while Ledgerx was once part of FTX but is now not involved in their bankruptcy proceedings either.

Coinbase Statement Regarding Safety

Coinbase stated in their announcement regarding severing ties with Silvergates: “At Coinbase, all client funds continue to be safe, accessible and available.“ They further noted: “In light of recent developments and out of an abundance of caution, Coinbase is no longer accepting or initiating payments to or from Silvergate.“ They cleared up any doubts about safety by adding: “Coinbase has de minimis corporate exposure to Silvergates.“

Conclusion

The news follows a series of events including delays in SEC filings and a downgrade on JPMorgan’s part leading up to this point where we see both Ledgerx informing customers they will now be using Signature Bank instead while Coinbase cuts ties completely due to safety concerns while still assuring clients their funds are safe at Coinbase regardless

• Sam Bankman-Fried (SBF), the co-founder of FTX, has been indicted by a federal grand jury with twelve charges including conspiracy to commit wire fraud, commodities fraud, securities fraud and money laundering.
• A new indictment was unsealed on February 22nd adding four more charges to SBF’s case including operating an unlicensed money transmitter business and conspiracy to commit bank fraud.
• The newly revised indictment alleges that SBF exploited the trust customers placed in him and his exchange, stole customer deposits and used stolen funds for a variety of purposes.

Sam Bankman-Fried Charged With Multi-Billion Dollar Fraud

Former FTX CEO Sam Bankman-Fried (SBF) is facing a multi-billion dollar fraud case after being indicted by a federal grand jury in Manhattan on Wednesday. The 72 day old indictment includes eight different offenses such as conspiracy to commit wire fraud, securities fraud, commodities fraud, and money laundering.

Four New Charges Added To SBF’s Indictment

The newly revised indictment adds four more charges against SBF – operating an unlicensed money transmitter business and conspiring to commit bank fraud. Prosecutors allege that SBF “corrupted the operations of the cryptocurrency companies he founded and controlled” through systems and schemes allowing him access to customer deposits without detection. He is also accused of defrauding customers in connection with derivatives purchase/sale as well as making unlawful political contributions and defrauding the FEC.

Multi-Billion Dollar Theft Allegations Against SBF

The new indictment claims that SBF exploited the trust that customers placed in him and his exchange, stealing their deposits totaling billions of dollars for various uses. It further states that he “perpetrated this multibillion-dollar fraud through a series of systems and schemes” granting him access to FTX customer deposits without detection.

Impact Of New Charges On SBF’s Case

The additional charges are likely going to have major implications on Sam Bankman- Fried’s case as they further incriminate him in multiple counts of corruption within cryptocurrency industry operations & regulation through fraudulent activities such as theft, money laundering etc..

Conclusion

It remains to be seen what impact these new charges will have on Sam Bankman – Fried’s case but it is clear from the revised indictment that prosecutors are seeking greater accountability from crypto exchanges founders for any wrongdoings committed under their watch.

• Polygon (MATIC) rallied to a ten-month high on Thursday, with prices rising for three consecutive sessions.
• Avalanche (AVAX) also surged, hitting a one-week high as it moved to its highest point since February 8.
• Cryptocurrency markets overall rebounded from recent losses, with the global market cap up 5.90% at the time of writing.

Polygon Hits 10-Month High

Polygon (MATIC) rose to a ten-month high on Thursday, as the token rose for a third straight session. MATIC/USD moved to a peak of $1.39 earlier in today’s session, which comes a day after trading at a low of $1.27. The relative strength index (RSI) moved close to a ceiling at 70.00 and was tracking at 68.22, with MATIC/USD at the $1.37 mark at the time of writing.

Avalanche Extends Recent Gains

Avalanche (AVAX) extended recent gains on Thursday, leading to prices hitting a one-week high. AVAX/USD raced to an intraday high of $20.31 earlier in the day and climbed to its highest point since February 8 when the token last collided with a ceiling at $21.00. The initial surge took place following a break beyond resistance at 55 on the RSI indicator but price strength appears to be moving back towards this level again as bears continue pushing momentum lower potentially leading AVAX down below $18 once more..

Crypto Markets Rebounding

Overall cryptocurrency markets have been rebounding from recent losses, with the global market cap up 5.90% at the time of writing indicating some positive sentiment amongst traders and investors within these digital assets class despite volatility still being present across many coins and tokens alike..

Technical Analysis Summary

Polygon has had mini bull run this week after bouncing off support levels near $1.20 before surging towards ceilings near $1 .35 while Avalanche has seen strong upward momentum continuing past resistance marks before possibly falling back down should bearish pressure continue pushing prices downwards again soon enough..

Conclusion

Overall cryptocurrency markets have been recovering from recent losses and both Polygon and Avalanche have seen encouraging signs of growth over recent days suggesting that bullish sentiment may be returning once more amongst traders and investors alike

• Localbitcoins, the Helsinki-based bitcoin exchange founded in 2012, is shutting down after over a decade of service due to the “ongoing crypto-winter.”
• The company’s operators attribute its closure to the decrease in demand for bitcoin trading services resulting from competition by centralized crypto exchanges.
• In 2021, during the crypto bull market and resurgence in digital currency prices, Localbitcoins announced the launch of an Android mobile app but it was not enough to regain its former volume.

Localbitcoins Shuts Down After 10 Years

Localbitcoins, the Helsinki, Finland-based bitcoin exchange founded in 2012, is closing operations after over a decade of service. The company’s operators attribute the shutdown to the „ongoing crypto-winter,“ which has left them unable to continue offering their bitcoin trading services.

Challenges Faced by Localbitcoins

The first peer-to-peer (P2P) bitcoin exchange, Localbitcoins, is ending operations after over ten years in business. New signups will be suspended as of Feb 9th 2023 and trading will be suspended seven days later on Feb 16th. Following the suspension of trading users will only have 12 months to withdraw their bitcoins. Initially established with a mission to bring bitcoin everywhere and drive global financial inclusion; this challenge proved difficult due to competition from centralized crypto exchanges which eventually surpassed LocalBitcoins in terms of trade volume.

Regulatory Changes

In 2019 LocalBitcoins also had to face regulatory changes such as Know Your Customer (KYC) regulations which made its platform less desirable for peer-to-peer traders who preferred its more lenient stance before then. That same year they ended all in person trades making it even harder for them to compete with other exchanges.

Launch Of Mobile App

In 2021 during the crypto bull market and resurgence in digital currency prices; LocalBitcoins launched an android mobile app but even that wasn’t enough for them to regain their former trade volumes as statistics show that they are currently at levels comparable with those seen during 2015 bear market period..

Conclusion Despite every effort made by its operators; LocalBitcoins has regretfully concluded that it can no longer provide its Bitcoin trading service due ongoing very cold Crypto Winter thus ending operations after 10 successful years