Customers Financial News

FTX plans partial bailout of bankrupt Voyager's customers

Following Voyager Digital filing for bankruptcy on Tuesday, the crypto lending firm said its recovery plan was aimed at preserving customer assets but did not explicitly state it would be able to return all equivalent funds to affected users.

Global cryptocurrency exchange Binance is under the spotlight as a report claims it continued serving Iranian clients despite a company ban and economic sanctions against the country.

While the market goes steady, the crypto ecosystem continues to grow as merchants innovate and adopt cryptocurrency payments in their quest to gain new customers. 

It has been three weeks since crypto lender Celsius Network took the drastic step of halting customers’ withdrawals. Many people are starting to wonder if they will ever see their money again.

In a new blog post published Thursday, Coinbase says that starting Monday, all of its customers in the Netherlands will need to complete new Know Your Customer, or KYC, requirements when transferring digital assets to wallet addresses that are not based on the exchange. This includes providing the recipient's full name, the purpose of the transfer and the recipient's complete residential address. Transfers between Coinbase accounts are not affected by the new rule. 

Credit Agricole said 22 June that it aims to take on one million additional customers, boost its net income and add two new business lines and as part of a new strategic plan to 2025.

Brex, the Silicon Valley lender to start-ups, is dropping tens of thousands of small business customers to focus on bigger venture-backed clients, according to co-founder Henrique Dubugras.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Merchants are participating in a more complex market than ever before, one shaped by high credit card processing fees, long settlement times and consumers who spend most of their waking hours online. Addressing these concerns then comes down to the ability of each business owner to accept cryptocurrencies as part of their standard practices. Unfortunately, the asset’s volatility, and the complexities that come with cryptocurrency storage, make it difficult for a merchant to accept these assets without any in-depth knowledge.

Major crypto exchanges Coinbase and BitMEX are deploying new features to lure more customers, benefiting from users’ rising interest in direct and mobile Web3 access, and spot markets, among others.

Nubank, Brazil’s largest digital bank, is set to invest 1% of its portfolio in bitcoin (BTC), and will begin rolling out functions that allow its app users to buy, sell, and hold BTC and ethereum (ETH).

Intuit, the owner of popular tax-filing software TurboTax, will pay $141 million in restitution to millions of low-income Americans who were «unfairly charged» for services that should have been free, according to a multistate agreement announced Wednesday.

US SEC says crypto safekeeping arrangements should be treated as liability

The crypto exchange Bitfinex, which will host the issuance of El Salvador’s much-talked-about bitcoin (BTC) bonds, says that it has already received “half a billion dollars” worth of interest in the offering from its customers.

Binance says users in Ontario restricted from using its platform - regulator

Kraken exchange has passed a crypto audit by Armanino LLP, allowing customers to verify cryptocurrency balances.

US online trading platform Robinhood has launched a beta program for its crypto wallet, and it began to roll out the wallets to 1,000 customers from the top of its WenWallets waitlist. 

“We made the commitment to be one of the top financial institutions serving commercial cryptocurrency and digital asset institutions and we understand all requirements, pitfalls and the possibilities for crypto customers,” states Sam Sidhu, president and chief executive officer of Customers Bank. “These clients require a financial partner that has the technology and agility to scale with their requirements throughout the entire ecosystem, not just in one or two aspects of their business.”Pennsylvania-based Cuustomers Bank signalled its intention to compete in the digital asset space in October, onboarding cryptocurrency firms as customers and launching a real-time crypto-to-USD payments platfrom utilising the bank’s own internal digital fiat token.Sidhu says: “Our investment in building out the best crypto and digital asset team signals we are a serious participant in this space and committed to this business line for the long term.

A cryptocurrency exchange in Hong Kong has reportedly stopped all withdrawal requests, according to reports. Coinsuper is the sole crypto firm in China that is licensed by the government, and was founded by a former senior UBS Group AG executive in November 2017.

Financial services company Fidelity Investments’ U.K. arm reported that over the last 12 months, customers were most interested in trading shares of crypto mining firm Argo Blockchain.