A better understanding of the crypto world can protect users from scams or uninformed decisions.
Cryptocurrencies like Bitcoin are rapidly transforming the world of finance. Although they may seem technical or complicated, it is worth learning about this topic that is growing in importance.
Societe Generale: First Entity in France with a License for Cryptocurrency Services
Société Générale, one of the largest financial institutions in Europe, and the third largest in France, becomes the first bank to obtain a crypto asset provider license from the French regulator (AMF).
Therefore, the entity, which has obtained a license as a digital asset service provider (DASP), made the application through its crypto-asset division: SG Forge. The license, dated July 18, allows Société Générale to offer custody, purchase/sale, trading, receiving and transmitting third-party orders for digital assets.
Bitcoin Whale Wakes Up After 11 Years
Recently, a dormant Bitcoin address for 11.3 years with 1,037 BTC, equivalent to about $31 million USD, was activated.
This event has generated interest in the crypto community, as it is rare to see addresses that have been inactive for such a long time become active. Although at the time of the news the activation did not have a significant impact on the price of Bitcoin, it is important to remember that the movements of the Bitcoin whales can have a lagging effect on the market.
It is crucial that investors and market participants keep an eye on these developments as they can provide valuable signals on future market trends, but it should also be remembered that the cryptocurrency market is highly volatile and investing with caution.
FTX Sues Sam Bankman-Fried and Other Former Executives to Recover $1 Billion
FTX has sued former CEO Sam Bankman-Fried and other key former executives of the now-bankrupt crypto exchange to recover more than $1 billion in allegedly misappropriated funds.
The lawsuit filed on July 20 in a United States Bankruptcy Court named Caroline Ellison, Gary Wang, Nishad Singh and Bankman-Fried as defendants.
In the lawsuit, FTX claimed that the former executives breached their fiduciary duties by allegedly misappropriating client funds on an ongoing basis to finance luxury condominiums, political and charitable contributions, speculative investments and other pet projects.
Telegram CEO Reveals He Has Bitcoin in His Wallet
Next, Pavel Durov revealed his investments in the cryptocurrency market, including Bitcoin (BTC) and Toncoin (TON), along with significant developments within his company.
Specifically, the statements came to place in a publication through his official Telegram channel. Where the CEO of the messaging App highlighted the growth that the latter had registered in recent times, accounting for the registration of about 800 new active users since the beginning of this year, registering about 2.5 million new daily accounts.
“Some people suggested that I should have bought a house or a plane. But I prefer to concentrate on my work without having anything… “Well, apart from Telegram, some Bitcoin and some Toncoin,” Durov stated.
Judge Sentences New York Crypto Scammer to 9 Years in Prison
Eddy Alexandre, was sentenced to nine years in prison for orchestrating a fraudulent scheme that defrauded investors of hundreds of millions of dollars.
US District Judge John Cronan handed down the sentence after Alexandre pleaded guilty to commodity fraud in February. The court ordered Alexandre to forfeit $248.8 million, representing ill-gotten gains from his Ponzi scheme, which primarily targeted members of the Haitian-American community in New York.
By Audy Castaneda
