By CCN Markets: Big Four accounting firm PricewaterhouseCoopers (PwC) is expanding into the cryptocurrency audit business with the launch of a new solution. The firm is expanding its “Halo” suite of auditing tools to provide audit and assurance services to those clients that deal in crypto. According to PwC’s press release: “PwC can currently use this tool to provide assurance services to clients transacting in Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, LiteCoin, Ethereum, ERC20 – OAX token, and Ripple (XRP).” PwC is enabling cryptocurrency adoption PwC’s crypto solution is proof that we are moving toward mainstream adoption of digital
Ethereum clients that still haven’t patched known vulnerabilities pose a security risk to the entire network, according to new research.
Blockchain security company BitGo is launching a new service for institutional clients: a clearing and settlements system that operates off-chain.
BitGo announced this new service in a press release on May 14, 2019, describing some of the features that this new system will have. Assets “never need to leave custody,” according to the announcement, and “counterparty risk is minimized” with BitGo acting as custodian for both sides of any deal.
Voyager (TSXV:VYGR), a crypto brokerage firm that provides retail and institutional investors with trading solutions, announced Thursday that it has entered into a partnership with professional trading service provider Sterling Trading Tech to offer digital asset trading capabilities to institutional and retail traders through the STT platforms. We are excited to share that Voyager Institutional […]
Financial services giant Fidelity Investments, which manages more than $ 2.6 trillion in client assets, has started rolling out its Bitcoin (BTC) custody service, allowing institutional clients to securely store the leading digital asset. We are live with a select group of eligible clients and will continue rolling out slowly. Our solutions are focused on the needs […]
Two law firms have been appointed to represent the clients of insolvent Canadian crypto exchange Quadrigacx in court. The number of affected users has been estimated at approximately 115,000 and lawyers will have to contact as many as they can. The digital asset trading platform owes them approximately $ 190 million.
Miller Thomson, Cox & Palmer to Reach Affected Users
Nova Scotia Supreme Court Justice Michael Wood issued a decision on Tuesday, Feb. 19, announcing the appointment of Toronto-based Miller Thomson and Cox & Palmer from Halifax as representatives of Quadrigacx’s clients. Both firms have extensive experience with insolvency cases, Wood said, quoted by the Canadian Press. He added that Miller Thomson has cryptocurrency-related expertise as well.
On January 26, 2019, clients of peer-to-peer bitcoin trading service LocalBitcoins were the targets of a phishing scam which resulted in the theft of a handful of bitcoins.
The Scam’s Operation
Reports claimed that the attacker was able to conduct the scam thanks to a security vulnerability on the LocalBitcoins platform. The landing page of the site’s forum reportedly was hacked, leading clients to a phishing site.
The phishing site was designed to carefully mimic the features of the actual LocalBitcoins landing page. Once on it, users were prompted to log in and provide their sensitive, two-factor authentication codes.
American crypto wallet and custodial firm BitGo has teamed up with Genesis Global Trading, a digital asset trading firm, to improve the crypto trading experience for its institutional investors.
Investors who use BitGo's custody service can now trade their assets directly from their BitGo custody account, without the need to move the assets to an exchange.
“Institutional investors want to put their assets to work and they want security,” Mike Belshe, BitGo’s CEO, told Bitcoin Magazine. “Until now, they've had to make compromises on one front or the other, choosing to trade off security for speed of withdrawals from custody. Now, as a result of our partnership with Genesis, they have access to multiple trading venues without ever having to move their assets from the security of cold storage."
On January 9, CCN reported that 13 financial institutions have started to utilize the Ripple blockchain through RippleNet, bringing the total number of banks in the Ripple ecosystem to 200. Fintech applications and banks in the likes of Euro Exim Bank, SendFriend, and JNFX have integrated RippleNet for liquidity and instant settlement of payments that
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Wells Fargo — the third-largest US bank with $ 2 trillion in assets — will pay a $ 575 million settlement after admitting that it systematically scammed its own customers for 15 years. Ironically, the fine comes just months after the banking giant dismissed bitcoin as too risky an investment. Pursuant to a nationwide federal investigation, Wells Fargo admitted that its employees opened more than 3.5
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Financial services giant Fidelity Investments, which manages more than $ 2.6 trillion in client assets, is interested in offering customers more than just Bitcoin (BTC) and Ethereum (ETH). Fidelity previously revealed that it is pursuing blockchain and cryptocurrency-related services, with the goal to release a product as soon as early 2019. To facilitate these products, Fidelity launched Fidelity Digital […]
Nearly three months have passed since Goldman Sachs, a $ 73 billion investment bank based in the US, said that it is not ready to facilitate the delivery of “physical Bitcoin” to its clients. The banking giant is still not able to hold cryptocurrencies on behalf of its clients, despite growing demand from clients. At a
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Bitcoin (BTC) has suffered another major sell-off over the last week, dropping nearly 24% over the period. Major altcoins, outside of XRP (XRP), have performed just as bad or worse. However, according to data recently published by eToro senior market analyst Mati Greenspan, it looks like investors on the Tel Aviv-based trading app have taken […]
Crypto fanatics have been on the edge of their seats waiting for the banking firm, Goldman Sachs to make an official move on the firm’s goal to integrate Bitcoin derivatives. The rumours have been stirring since October last year when the Wall Street Journal first reported the investment banking giant might intentions of launching a Bitcoin trading operation. The latest news is that the banking firm is said to have taken on a small number of clients to actively trade a Bitcoin derivatives product.
Inside sources say Goldman Sachs is already onboarding some of its clients to trade on its Bitcoin derivatives, non-deliverable forward (NDF) contracts platform. However, the bank reportedly has no plans to launch trading support for other cryptocurrency derivatives but is serious about providing custodial services.
Goldman Trading Bitcoin Derivatives?
According to the International Business Times, the Wall Street Bank is allowing a select group of clients trade a Bitcoin-based derivative product. The lack of fanfare around the reported launch might be a deliberate attempt by Goldman Sachs to work out all the kinks from the project before the major launch.
After months of conflicting reports, it looks like investment banking giant Goldman Sachs (GS) is now onboarding clients to adopt its new Bitcoin (BTC) derivative product. According to a recent report by The Block that cites insiders familiar with the matter, Goldman Sachs is currently introducing a small number of institutional investors to its bitcoin non-deliverable forward […]
Here’s something we don’t hear every day: a Swiss bank has opted to enable its clients to participate in initial coin offerings easily. The bank, Swissquote, has previously allowed customers to trade in cryptos. This is, to say the least, an unusual service for a fiat banking institution. Additionally, Swissquote offers traditional FOREX trading and
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Europe’s top banks allegedly helped wealthy clients across the continent steal 55 billion euros ($ 63 billion) from multiple governments by making tax reclaims to which they were not entitled, an investigation has revealed. The theft centred around a complex scheme of trading stocks that also involved hedge funds and large international commercial law firms.
Undercover Journalists Uncover ‘the Biggest Tax Swindle in the History of Europe.’
The undercover probe by 37 journalists from 12 countries shows that about a dozen European countries are affected by the tax scandal, but Belgium, Denmark and Germany were hardest hit. France, Italy, the Netherlands, Norway, Spain, Sweden and Switzerland have also seen some damage.
Earlier this week, reports revealed that Coinbase is shutting down its market-cap-weighted index fund targeted at accredited investors after raising less than the firm expected. In the wake of these reports, Barry Silbert, the founder of Grayscale Investments, a crypto-focused investment fund, seized the opportunity to make it known that Grayscale’s Digital Large Cap Fund is still accepting new […]
US multinational investment bank Morgan Stanley is preparing to offer Bitcoin swap trading for its clients, unconfirmed sources report on September 13.
Sources Say Morgan Stanley Preparing Swap Trades
Citing “people familiar with the matter” in an article from Bloomberg reporter Alistair Marsh, Business Insider’s Frank Chaparro revealed the giant “plans to offer trading in complex derivatives” linked to Bitcoin 00.
According to Marsh’s sources, Morgan Stanley “will deal in contracts that give investors synthetic exposure to the performance of Bitcoin,” thus copying extant plans from Wall Street’s Goldman Sachs and Intercontinental Exchange among others.