SEC red flags bitcoin firm
The Securities and Exchange Commission has warned against Bitcoin Revolution, which presents itself as a cryptocurrency trading program supposedly endorsed by government officials, businessmen and celebrities......»»
Money lending firm collector killed in Zamboanga del Sur ambush
Gunmen killed a collector of a local money lending firm in a daytime ambush in Barangay Lutlutan in Dimataling town, Zamboanga del Sur on Wednesday......»»
PLDT, Smart named among world’s leading employers
PLDT Inc. and its wireless unit Smart Communications Inc. have been named among the Top One Percent of Leading Employers of 2023 by German firm Institute of Research and Data Aggregation......»»
Jollibee invests $28 million in beverage tech firm
Filipino-owned Asian food conglomerate Jollibee Foods Corp. is investing $28 million for a 10 percent stake in beverage technology company Botrista Inc. to support the growth of its coffee and tea business......»»
Schneider Electric switching to solar power
French energy management and automation firm Schneider Electric is transitioning its operations in the Philippines to clean energy with the installation of solar panels in its manufacturing plant in Rosario, Cavite......»»
PSALM expects P100 billion from CBK privatization
The Power Sector Assets and Liabilities Management Corp. (PSALM) is expected to generate as much as P100 billon from the privatization of the 796.46-megawatt (MW) Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plant complex in Laguna, bolstering the cash position of the cash-strapped state firm......»»
Cryptocurrency Market Turns Red as Bitcoin, Ethereum, Solana Prices Dip Before Halving
The cryptocurrency market kicked off Friday on a bearish note, as major digital assets Bitcoin, Ethereum, and Solana experienced significant declines in morning trading. Bitcoin,.....»»
First Gen income up 4 percent to P15.4 billion in 2023
Lopez-led power firm First Gen Corp. grew its income by four percent to P15.4 billion in 2023, from the previous year’s profit of P14.3 billion, mainly due to contributions from its geothermal subsidiary Energy Development Corp......»»
CLI allots higher capex, partners with Japan firm
Cebu Landmasters Inc. is hiking its capital spending to P14.5 billion this year as it gears up for growth and expansion following a strong financial performance in 2023......»»
LWUA firm on intervention as MCWD water leakage increases
CEBU CITY, Philippines –The battle over authority continues in the Metropolitan Cebu Water District (MCWD) as the Local Water Utilities Administration (LWUA) stands firm in its decision on the six-month intervention, despite the status quo stance. The LWUA expressed confusion as to why the incumbent MCWD board would not honor the partial intervention, clarifying that.....»»
Bitcoin hits new all-time high
The leading cryptocurrency surged above the $72,000 mark on Monday Bitcoin, the world's highest-valued cryptocurrency, hit a new record on Monday as it surged above $72,000. The token soared to a fresh all-time high of $72,030, breaking the record set in November 2021 and bringing gains for the year so far to n.....»»
SEC Statement on the Hack of Our X Account and the Subsequent False Bitcoin ETF Approval Announcement
Title: SEC Collaborates with Law Enforcement to Combat Threats Promptly In a bid to ensure investor protection and maintain market integrity, the U.S. Securities and.....»»
Stocks move in step with Asia-wide rally
Local stocks recovered yesterday, moving in step with Asian peers, ahead of US inflation data that could influence the Federal Reserve’s thinking on rate cuts, while the crypto world got a boost after exchange-traded funds to track Bitcoin were approved in the United States......»»
Breaking News: Bitcoin Soars Once More – The Daily Guardian
Title: Bitcoin Surpasses $35,000 Milestone, Market Anticipates Launch of Regulated Bitcoin Funds Date: [Date] Bitcoin, the world’s leading cryptocurrency, has reached a significant milestone by.....»»
Crypto crackdown intensifies on Hamas finance
Cryptocurrency has become the latest front in the conflict between Israel and Hamas, analysts say. Israeli and US authorities have intensified their financial hunt into Hamas in recent days as they track illicit funds via digital currencies. Ari Redbord, global policy head at crypto tracking specialist TRM Labs, said there is now less crypto transfer activity on pro-Hamas support networks as a result. "We are seeing a lot less activity in some respects since the war began," Redbord told AFP. This is "primarily because Israel has been very aggressive and successful in taking down these fundraising efforts", he added. Israel has bombed Gaza in response to an unprecedented cross-border attack by Hamas militants who, while firing a massive rocket barrage, killed more than 1,400 people and took 222 hostages on 7 October, according to Israeli authorities. Israeli strikes have now killed more than 6,500 people in Gaza, according to the Hamas-run health ministry. Shadowy world Cryptocurrency is regarded as a speedy way to move cash that is unregulated by any central bank and is less traceable than a traditional bank transfer. The shadowy world of digital units, based on decentralized blockchain technology, has gained notoriety for illicit transactions due to its under-the-radar appeal. Two weeks ago, Israeli police revealed they had located and frozen accounts linked to Hamas that sought "to solicit donations on social networks" via Binance, the world's biggest cryptocurrency exchange. A Binance spokeswoman said it "follows internationally recognized sanctions rules, blocking the small number of accounts linked to illicit funds". Redbord, formerly a senior US government adviser, said Hamas had adopted crypto from 2019 at the latest, to seek funding via the Telegram messaging network and even on its own website. Hamas decided in April that it would no longer accept cash via Bitcoin due to increased global surveillance of the world's biggest digital unit. Crypto fundraising is now operated via a network of Hamas-linked support groups. TRM Labs has closely monitored virtual crypto wallets linked to such support groups since the start of the war. And it has concluded that much smaller amounts of cash than usual are being moved. Two weeks after the attacks, support group Gaza Now received less than $6,000 in one of its crypto wallets, Redbord noted. That compared with $800,000 in total since the wallet's creation in August 2021. Meanwhile, authorities are well aware that digital assets are a minor part of a complex funding picture. The US State Department estimates that Iran funnels $100 million per year to Palestinian groups including Hamas. 'Small piece of puzzle' "Cryptocurrency is a very small piece of a larger financing puzzle for Hamas," said Redbord. "They are looking to Iran; they're... imposing taxes on the Palestinians; they have a network of charities and a diaspora of supporters who are sending donations not in cryptocurrencies." "But crypto does play a role," he said. Digital currencies still represent a significant revenue stream for Hamas and other allied groups. Crypto addresses identified by Israel as being linked to Hamas received about $41 million between August 2020 and July 2023, according to Israeli analytics and software firm BitOK. Other crypto addresses linked to Islamic Jihad received in excess of $154 million between October 2022 and September 2023, with some still active, it adds. Some players in the sector simply turn a blind eye. "Some cryptoasset businesses are intentionally or unwittingly allowing misuse of the crypto ecosystem," said Joby Carpenter, an expert on the industry. "This trend is magnified where exchanges are based in lightly or unregulated jurisdictions," he told AFP. The post Crypto crackdown intensifies on Hamas finance appeared first on Daily Tribune......»»
Bitcoin Slips to $27K amid Escalating Hamas-Israel Conflict and Diminished Investor Confidence
Bitcoin’s recent attempt to break the $28,000 level faced a wave of selling pressure, according to market analysts at FxPro. This surge in selling resulted.....»»
Trial of disgraced crypto star Bankman-Fried begins
The trial of Sam Bankman-Fried, former CEO of one of cryptocurrency's biggest exchanges, began Tuesday with a jury set to determine if he committed massive fraud by stealing billions of dollars from clients. The 31-year-old -- once one of the most respected figures in crypto -- now faces decades in prison and could see his name stand alongside Bernie Madoff and Elizabeth Holmes as the era's most prominent fraudsters. The first day of the trial was devoted to jury selection for a case that is set to last about six weeks. Bankman-Fried faces seven counts including wire fraud, securities and commodities fraud, and money laundering. He risks more than 100 years behind bars if he is found guilty on all charges. Bankman-Fried entered the courtroom alone -- without being escorted by security guards -- uncuffed, and took his place alongside his lawyers, an AFP journalist observed. Dressed in a dark suit and striped tie, his usually long curly hair was cut short, reportedly by a fellow inmate at the Brooklyn jail where he is being detained. "You have the right to testify in your defense in this case. The decision is up to you," US District Judge Lewis Kaplan told Bankman Fried. In just a few years, the Massachusetts Institute of Technology graduate turned his FTX platform into the world's second-biggest crypto exchange, making him a tech world billionaire wunderkind. FTX became a global name through a marketing campaign that included celebrity partnerships with stars such as supermodel Gisele Bundchen and basketball legend Stephen Curry, and buying the naming rights for the home arena of the Miami Heat basketball club. Bankman-Fried also stepped in as a kind of savior of the industry when other crypto companies faced difficulties, with FTX swooping in to offer a financial lifeline. At the height of his career, Bankman-Fried was thought to be worth $26 billion as he attracted droves of small investors to invest in cryptocurrencies such as Bitcoin or Ethereum. But his steep rise was matched by his ignominious downfall, which saw him escorted last year by police from his luxury apartment in the Bahamas and extradited to face charges in the United States. 'Gambling at own casino' His empire began to crumble last November when a news report pointed to unhealthy ties between the FTX platform and Alameda Research, Bankman-Fried's personally owned-trading company. The revelations kept growing and major investors pulled their money out of FTX, sinking it swiftly into bankruptcy. Once the dust had settled, some $8.7 billion in client funds was still unaccounted for and Bankman-Fried was accused of using FTX deposits to buy luxury real estate or donate more than $100 million to US politicians through Alameda. "He was gambling in his own casino and it created conflicts of interest," Michael Lewis, an author who followed Bankman-Fried closely during the period, told CBS. Everything "unravels because the depositors at FTX want their money back and it's not all there," the author of "Liar's Poker" and other titles added. The climax of the trial is expected to be when his former friends and colleagues take the stand, including Carlonie Ellison, his one-time romantic partner and Alameda executive, and Gary Wang, his closest associate. Ellison and Wang have also been indicted in the case and agreed to cooperate with US authorities, which may prove Bankman-Fried's undoing. After his spectacular arrest in the Bahamas, Bankman-Fried was initially held under house arrest but was ordered behind bars in August over alleged attempts at witness intimidation. According to prosecutors, while holed up at his parents' home in California, Bankman-Fried spoke regularly to journalists and passed documents to The New York Times in an effort to influence the testimony of Ellison. The post Trial of disgraced crypto star Bankman-Fried begins appeared first on Daily Tribune......»»
75 foreigners involved in online scams deported
The Bureau of Immigration confirmed the deportation of 75 foreign nationals on 22 September at the Ninoy Aquino International Airport Terminal 1. BI Commissioner Norman Tansingco shared that those foreigners departed on Friday afternoon via a Royal Air flight RW410 bound for Nanning, Guangxi. These deportees, according to Tansingco, are the first group of foreign nationals to be kicked out of the country for engaging in scams while posing as an online gaming customer care provider. They are part of the group arrested in an operation led by the Inter-Agency Council Against Trafficking (IACAT) and the Presidential Anti-Organised Crime Commission (PAOCC) against SA Rivendell Global Gaming Corporation located in Pasay City. They were later charged by the BI for undesirability after being tagged as part of a scam syndicate. The National Bureau of Investigation (NBI), which made the arrests, kept custody of the aforementioned foreigners throughout their deportation procedures. The deportees allegedly took part in bitcoin and love schemes that preyed on Westerners. The BI chief said that the initial count of deportees was 76, but the airline offloaded one of them—identified as He Zeng Ming—due to a medical issue after he purportedly complained about chest symptoms. All deportees have been added to the BI's blacklist; thereby, prohibiting them from returning to the country. “The strong partnership of the BI with PAOCC as well as IACAT member agencies led to this massive arrest and deportation of foreign nationals abusing their stay in the country,” said Tansingco. “This is in line with the President’s directive for government agencies to work closely together, in unity, to achieve greater results,” he added. -----anthony ching----- The post 75 foreigners involved in online scams deported appeared first on Daily Tribune......»»
Gang-held prison yields rocket launchers, ammos
Venezuelan authorities on Thursday showed off heavy weapons such as rocket launchers and grenades that were seized in a prison recaptured from gang control. Seized sniper rifles, explosives, buckets of bullets, heaps of machine gun ammunition belts and machines used to mine for the cryptocurrency Bitcoin also were shown to journalists at the Tocoron prison. More than 11,000 police and soldiers, backed up by tanks and armored vehicles, stormed the prison controlled by the notorious Tren de Aragua gang on Wednesday. The facility had long served as the headquarters of the Tren de Aragua gang that operates in Venezuela and other Latin American countries. Interior and Justice Minister Remigio Ceballos told reporters four prison guards were arrested as suspected accomplices of gang members who had lived it up behind bars. “There will be no impunity. We will go against all the criminals and accomplices,” Ceballos said, hailing the successful raid. After declaring it had taken control of the prison, the government began evacuating its 1,600 inmates to other locations. The prison boasted gang-installed amenities such as a zoo, a pool, gambling rooms, a disco, a baseball field and a restaurant. Some inmates had lived there with their wives or girlfriends, who were kicked out during the raid. On Wednesday, the government said some inmates had managed to flee during the clampdown, without giving details. Ceballos said the gang leaders had mistreated other prisoners and kept them in “a kind of slavery.” Tren de Aragua, Venezuela’s most powerful home-grown gang, is involved in crime countrywide and has spread its tentacles to neighboring nations. According to an investigation by Venezuelan journalist Ronna Risquez, it has some 5,000 members. The gang emerged a decade ago, and is involved in kidnappings, robberies, drug trafficking, prostitution, extortion and illegal gold mining. The InSight Crime think tank says the gang is also a major player in migrant smuggling. WITH AFP The post Gang-held prison yields rocket launchers, ammos appeared first on Daily Tribune......»»
Bitcoin Surges as European Central Bank Signals No More Rate Hikes
Title: Bitcoin Surges by 2% as ECB Hints at Last Interest Rate Hike Date: [Insert Date] In a surprising turn of events, the announcement by.....»»
Hong Kong launches retail-friendly rules for crypto exchanges
Hong Kong opened its arms to the virtual asset world on Thursday, launching new retail-friendly rules for the city's crypto exchanges. The Chinese finance hub is pivoting to embrace crypto despite high-profile failures in recent months, including the meltdown of trading platform FTX, which wiped out more than $1.5 trillion in the market. China has had a strict crypto ban since 2021, but in Hong Kong -- which operates on a separate legal framework -- trading has been allowed through unregulated, meaning individual investors use unlicensed platforms. The regulatory regime launched Thursday means that after a one-year transition period, all crypto exchanges in Hong Kong must be licensed, and will be able to take on retail clients. "(The sector) fundamentally is going to stay despite all the risks... These activities have to be allowed in a regulated way," the city's financial services and treasury chief Christopher Hui told AFP. The new rules have an emphasis on investor protection measures, like requiring exchanges to vet their clients and limit their risk exposure, as well as restricting trade to "large-cap" tokens such as bitcoin. Crypto exchange OKX -- founded in China but now based in Seychelles -- told AFP it was "committed to the Hong Kong market" and will apply for a license. "Hong Kong is making concrete strides and is building confidence among industry players," said Lennix Lai, OKX's global chief commercial officer. Regulators said they hope to move quickly to issue the first licenses. But a prominent activist investor in Hong Kong said Thursday the new policy lends credibility to a risky sector and endorses speculation. "Hong Kong has a history of jumping onto financial bandwagons just as the wheels are falling off," David Webb, a former investment banker, told AFP. The government may say the new crypto regime is similar to that of traditional finance, but Webb said the "analogy breaks down" as most crypto -- unlike stocks or futures on companies and commodities -- have no intrinsic value. "There's no reason why (the government) should encourage people to bet on someone else paying more for something that has no fundamental value," Webb said. Last year, the city said HK$1.7 billion ($217 million) was lost to crypto-related scams, which police attributed to criminals taking advantage of the public's lack of sector knowledge. The new rules ask exchanges to conduct a "holistic assessment" of a client's understanding of digital currencies before taking them on, but give no specifics. One company licensed under Hong Kong's previous regime tells its prospective clients to take a screenshot showing they have finished watching 13 instructional videos in a free online course. But they "DO NOT need to complete any programme assignments or take any tests", it wrote on its website. The post Hong Kong launches retail-friendly rules for crypto exchanges appeared first on Daily Tribune......»»