Cointime

Cointime

Download App
iOS & Android
Home / Point

Central Bank of Russia: 68% of financial pyramids are related to cryptocurrencies

The Central Bank of Russia stated that in the past 9 months, the number of financial pyramid schemes that raised funds or promoted digital asset investments with various cryptocurrencies has increased. Such projects account for 68% of the total number of pyramid schemes.

Russia
Comments

All Comments

Recommended for you

  • Goldman Sachs: Still expects the Fed to cut interest rates in December, January and March

    Federal Reserve Chairman Powell's speech last week hinted at a possible pause in interest rate cuts at the upcoming meeting. This news has left investors dissatisfied. However, some economists do not believe that Powell's remarks will have a negative impact on the market. Citigroup's chief US economist, Andrew Hollenhorst, said, "US bond yields rose due to Powell's remarks, but we believe this is more a reflection of Powell keeping all options open rather than intentionally sending a hawkish signal." Goldman Sachs' chief economist, Hazus, still expects "the Federal Reserve to cut interest rates continuously in December, January, and March, and then once per quarter in June and September. However, he believes that the FOMC may slow down the pace of interest rate cuts faster, which could happen as early as the December or January meeting." However, unless the November employment or inflation report unexpectedly strengthens, the likelihood of the FOMC skipping interest rate cuts in December is low.

  • Cryptocurrency transactions surge in Spanish real estate market

    According to a report by Bitcoin.com, Enlace, a Spanish real estate technology company, revealed that the number of real estate transactions using some form of cryptocurrency as a payment method has significantly increased this year. The company found that these payment methods have advantages over traditional home buying methods, such as quick access to funds and savings compared to international bank transfers, resulting in a 15% increase in usage by 2024. This trend is particularly evident in major cities such as Barcelona, Madrid, and Valencia, where cryptocurrency transactions account for 60% of all transactions in the industry. Enlace predicts that approximately 6% of real estate transactions will involve cryptocurrency payments by 2024.

  • Google searches for "memecoin" hit an all-time high

     Google Trends data shows that the search popularity for "memecoin" has reached its historical high of 100. Cryptocurrency KOL Lark Davis analyzed that this phenomenon indicates that retail investors are awakening, and Meme coins are usually their preferred entry point into the cryptocurrency market.

  • BlackRock receives Abu Dhabi license to focus on AI and private market expansion

     BlackRock has announced obtaining a commercial operating license in Abu Dhabi and is currently applying for an operational license in Abu Dhabi Global Market (ADGM). Charles Hatami, Head of BlackRock's Middle East region, stated that the company will focus on developing the private market and artificial intelligence infrastructure business.
  • CointimeSG ·

    Achieving stability through liquidity — Interview with MEXC’s Tracy Jin

    MEXC vice president Tracy Jin discusses how a strong focus on liquidity ensures a seamless and stable trading experience for users in the ever-growing crypto market.
    Achieving stability through liquidity — Interview with MEXC’s Tracy Jin

  • Analysis predicts bitcoin price could reach $200,000 despite recent surge

    According to BCA Research, despite the recent surge in bitcoin's price, it could potentially rise to $200,000 based on a gauge using 260-day fractal patterns. This gauge indicates that the current levels are nowhere near the levels seen during previous bull market peaks. While bitcoin is currently below the six-figure mark, one firm is predicting that its price could more than double from the current market rate of $90,000. The rise in stablecoin liquidity and bitcoin transactions is contributing to the formation of "Uptober." The ETH/BTC ratio has also slid to its lowest since April 2021.

  • South Korea’s Paju City Government Warns Tax Debtors It Will Sell Their Crypto Holdings If They Don’t Pay Their Debts

    government of Pocheon City, Gyeonggi Province, South Korea, announced plans to seize and sell cryptocurrency held by citizens who owe taxes. On November 18, local media Han Kyung reported that Pocheon City officials have notified 17 people who owe a total of KRW 124 million, approximately USD 88,600. The city warned these taxpayers that if they do not repay their debts by the end of November, their cryptocurrency assets on the exchange will be confiscated and sold.

  • Real Vision founder: I agree with Michael Saylor's view that BTC will become the base layer of multiple assets

     Raoul Pal, former Goldman Sachs executive and founder of macro research firm Real Vision, posted on X stating: "So it looks like Michael Saylor and I have come to a consensus again. I also believe that BTC is a pristine asset. He also believes that tokenization of all assets, cultures, etc. will occur, and they are not the same as each other. Ultimately, there will be a variety of assets based on the BTC underlying layer."

  • Russia to impose cryptocurrency restrictions, exempting miners and central bank projects

    Russia will implement cryptocurrency restrictions, exempting miners and central bank projects. Starting from September 1st, Russia will impose strict restrictions on the circulation of cryptocurrencies such as Bitcoin, only allowing the issuance of digital financial assets within its jurisdiction. Anatoly Aksakov, Chairman of the Financial Market Committee of the State Duma, led this initiative. This is part of a wider government effort to control the cryptocurrency ecosystem in the face of escalating geopolitical tensions. Aksakov stated that the upcoming legislation aims to restrict non-Russian cryptocurrency transactions to strengthen the dominance of the ruble. Meanwhile, recent reports indicate that Russian entities have used cryptocurrencies, particularly Tether's USDT, to purchase key components for military technology.

  • Russia’s Central Bank and Rosfinmonitoring unveil pilot of fiat-to-crypto tracking system

    According to reports, since 2023, Russia has been trying to track cryptocurrency transactions and their sources. The Russian Central Bank and the Federal Financial Monitoring Service (Rosfinmonitoring) revealed that there is currently a system that allows private banks to track the connection between fiat-based transactions and cryptocurrency business.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company