The crypto winter of 2022 has not deterred trading on the DBS Exchange, as the platform has seen an impressive 80% surge in Bitcoin trading. The Singapore-based exchange, which is owned by DBS Bank, has managed to remain resilient amidst the market volatility, continuing to attract users and volume. Factors behind the success of DBS Exchange The exchange’s success can …
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The United Arab Emirates (UAE) has announced plans to issue a Central Bank Digital Currency (CBDC) to encourage the adoption of digital payments in the country. The CBDC is a digital form of a country’s traditional fiat currency that is issued and regulated by the central bank. It is expected to bring about a significant change in the financial sector, …
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The head of EminiFX, a fraudulent platform for cryptocurrency and foreign exchange, has admitted to deceiving investors and embezzling almost $250 million. Eddy Alexandre’s fraudulent activities and personal expenditures Eddy Alexandre the CEO of the supposed crypto trading website EminiFX lured in a large number of investors by promising them 5% weekly returns and claimed to be using a “Robo-Advisor …
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PayPal, a leading online payment provider, has aborted its plans to create a stablecoin as regulators continue to increase scrutiny on cryptocurrencies. A stablecoin is a type of cryptocurrency that is backed by a fiat currency or a commodity, which helps to stabilize its value. The decision to cancel the project comes as regulators globally are increasing their focus on …
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