Top crypto tweets of the day – August 29th

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• Bitfinex launches innovative P2P platform ‘Bitfinex P2P’ in Latin America

  TL;DR Breakdown Bitfinex has launched ‘Bitfinex P2P,’ a peer-to-peer platform for cryptocurrency trading in Venezuela, Argentina, and Colombia. The platform enables users to buy and sell Bitcoin, Ethereum, and Tether tokens directly with each other outside of the Bitfinex platform. Bitfinex’s expansion into Latin America aligns with its commitment to promoting financial freedom and inclusion, following previous regional investments and initiatives. Description Bitfinex, one of the first crypto, is making significant strides in Latin America with the launch of its peer-to-peer (P2P) platform, Bitfinex P2P. The platform aims to provide financial freedom and inclusion to Venezuela, Argentina, and Colombia users. By directly facilitating the buying and selling of cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Tether tokens … Read more Bitfinex, one of the first crypto, is making significant strides in Latin America with the launch of its peer-to-peer (P2P) platform, Bitfinex P2P. The platform aims to provide financial freedom and inclusion to Venezuela, Argentina, and Colombia users. By directly facilitating the buying and selling of cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Tether tokens (USDt and EURt), and Tether…

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• South Africa’s pro-Russia stance faces sanctions threat

  TL;DR Breakdown The South African Reserve Bank (SARB) warns of potential secondary sanctions and disruption of financial stability due to the perceived pro-Russia stance. SARB’s recent Financial Stability Review report revealed that comments about the country’s relations with Russia have resulted in a significant decline in the rand’s value against the U.S. dollar. U.S. Treasury Secretary Janet Yellen previously warned the country about compliance with U.S. sanctions against Russia, threatening penalties for violations. As the South African financial sector faces a crisis, the South African Reserve Bank (SARB) warns of impending threats due to perceived allegiances with Russia, which could lead to secondary sanctions and disrupt the nation’s financial stability. Concerns have been raised that South Africa’s position may jeopardize the global involvement of its financial institutions. South Africa’s position and potential repercussions The SARB raises alarms over South Africa’s neutrality in the ongoing conflict between Russia and Ukraine, indicating that the nation’s stance could present future challenges for the involvement of the country’s banking institutions within the international financial system. The central bank has further stressed that secondary sanctions…

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• OneCoin co-founder sentenced to 20 years in prison

  TL;DR Breakdown OneCoin co-founder, Karl Greenwood, sentenced to 20 years for running a massive crypto pyramid scheme. Scheme originated in Bulgaria in 2014, deceiving investors of over $4 billion between 2014 and 2016. Greenwood earned more than $300 million, representing 5% of all OneCoin sales. Description In a dramatic conclusion to one of the world’s most infamous crypto scams, OneCoin’s co-founder, Karl Greenwood, has been dealt a 20-year prison sentence. As the mastermind behind this multi-billion-dollar pyramid scandal, Greenwood pulled the wool over the eyes of millions of unsuspecting investors globally. The Rise and Fall of a Dubious Empire Hailing from … Read more In a dramatic conclusion to one of the world’s most infamous crypto scams, OneCoin’s co-founder, Karl Greenwood, has been dealt a 20-year prison sentence. As the mastermind behind this multi-billion-dollar pyramid scandal, Greenwood pulled the wool over the eyes of millions of unsuspecting investors globally. The Rise and Fall of a Dubious Empire Hailing from Bulgaria in 2014, OneCoin’s promise was simple: heralded as the next big thing in the cryptocurrency sphere, akin to the popular…

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• Bitcoin gains popularity in Japan as Yen’s volatility escalates

  TL;DR Breakdown Kaiko data shows the share of bitcoin trade volume on Japanese exchanges rose from 69% to 80% in Q1 2023. Historical data shows that citizens of nations plagued by inflation have embraced digital assets, and Japanese traders have joined the bandwagon. Trading activity on Japan-focused exchanges has increased faster than in Korean markets and the Coinbase exchange listed on the Nasdaq. The global 4-decade inflation rate is pushing investors to digital assets and natural resources. Description Bitcoin has found a new home in Japan. Since the Federal Reserve (Fed) began its aggressive interest rate hike campaign in March 2022, the Japanese yen has significantly depreciated. The Japanese Yen has experienced some of the most severe swings in exchange rates in history. The volatility has traders on Japan-focused digital asset exchanges turning … Read more Bitcoin has found a new home in Japan. Since the Federal Reserve (Fed) began its aggressive interest rate hike campaign in March 2022, the Japanese yen has significantly depreciated. The Japanese Yen has experienced some of the most severe swings in exchange rates in…

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• Banking bonanza: BlackRock goes after lucrative deals

  TL;DR Breakdown BlackRock is ready to capitalize on the ongoing banking sector turmoil, intending to purchase more assets offloaded by banks. Vice Chairman, Gary Shedlin, views this as an opportunity for BlackRock and its clients. Shedlin also anticipates a new era in banking where banks adopt an “originate-to-distribute” model, leading to more asset sales to investors. Description Brimming with opportunistic zeal, BlackRock, the global asset management giant, is sizing up the banking arena’s ongoing turbulence and licking its lips at the prospect of scoring some lucrative deals. The shifting landscape of high-interest rates, stringent regulations, and potential mergers serves as the backdrop to BlackRock’s strategic game plan, one that capitalizes on banks’ … Read more Brimming with opportunistic zeal, BlackRock, the global asset management giant, is sizing up the banking arena’s ongoing turbulence and licking its lips at the prospect of scoring some lucrative deals. The shifting landscape of high-interest rates, stringent regulations, and potential mergers serves as the backdrop to BlackRock’s strategic game plan, one that capitalizes on banks’ desperation to offload assets and bolster their capital and liquidity…

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