Crypto deposits Financial News

Mudrex, the globally renowned crypto investment platform, witnessed a surge of $1 million in crypto deposits from prominent exchanges, including Binance. This surge comes in response to the Financial Intelligence Unit's (FIU) warning to nine international crypto exchanges for non-compliance with anti-money laundering laws. «In the wake of the FIU’s directives, Mudrex saw an influx of crypto deposits. Among the depositors, a majority have invested amounts exceeding $1000, showcasing the platform's appeal to both seasoned investors and newcomers alike,» Mudrex stated in a release. Mudrex successfully onboarding over 10,000 new users in the past few days, who were drawn to the platform for its user-friendly interface, seamless experience, and the unique advantage of zero fees on crypto deposits, Mudrex said. Breaking down the user demographics, Mudrex reported that 60% of the new users hail from Tier 1 regions, while 40% belong to Tier 2 locations. This diverse user base underscores Mudrex's widespread global acceptance and its ability to cater to the needs of investors across different geographies, the crypto platform stated.

Bankruptcy crypto lender Voyager Digital said customers will soon recover 35 percent of their cryptocurrency deposits, following a rocky road over the past few months of multiple failed buyouts.

Martin Gruenberg, chair of the United States Federal Deposit Insurance Corporation, has said the FDIC plans to return roughly $4 billion in deposits connected to Signature Bank’s digital asset banking business by early April.

A federal bankruptcy judge ruled that Celsius Network owns most of the cryptocurrency that customers deposit on its online platform, meaning that Celsius customers will be the last to receive repayment from the crypto lender.

Trouble is brewing for crypto bank Silvergate as the company cuts staff by 40% and sells assets at a loss to cover $8.1 billion worth of customer withdrawals. Furthermore, the company's crypto-related deposits saw a 68% decline in the fourth quarter of last year.

Cryptocurrency startups have begun offering investors an option to earn interest on virtual assets to battle volatility even as the industry awaits regulatory and legal clarity on the issue. Crypto startups are offering fixed returns on one’s holdings. How do these investment products work? What makes them different from conventional deposits? What should investors watch out for? Aseem Gujar & Partha Sinha find out… One can buy crypto either through an exchange’s app or invest indirectly via exchange-traded funds (ETFs) as was explained last week in this column. Cryptocurrency startups are giving another option to investors: Some call it fixed deposit or fixed income product, while others steer clear of traditional finance terminology and refer to it as interest-generating investment. Presented ByDid you Know?Billed as India'