Solana-Based Decentralized Finance Platform Mango Hit by $100 Million Exploit
Mango's MNGO token was down over 40% after suffering from the latest massive decentralized finance exploit.
Cryptocurrencies
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Major crackdown on crypto scams in South Africa – with millions in fines and up to 10 years in prison
The Financial Sector Conduct Authority (FSCA) has declared cryptocurrencies a financial asset in South Africa, opening a path to professionalize and regulate the crypto industry in the country. It also opens the door to taking on scammers – with the threat of prison time and millions of rands in...
businesstech.co.za
Crypto Biz: Bear market claims another casualty
Nuri, Voyager Digital, Binance and Silvergate Capital headline this week's Crypto Biz newsletter.
cointelegraph.com
Pick n Pay expands Bitcoin payment trial to 39 stores StuffSA
Ever wanted to buy bread at Pick n Pay, but forgot your real money at home? Pick n Pay is now accepting Bitcoin as payment in 39 of...
stuff.co.za
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Exclusive: At least $1 billion of client funds missing at FTX
While it is known that FTX moved customer funds to Sam Bankman-Fried's Alameda trading desk, the missing funds are reported here for the first time. The financial hole was revealed in records that 'SBF' shared with other senior executives a week ago.
www.reuters.com
Crypto giant FTX collapses into bankruptcy
Sam Bankman-Fried also stepped down as chief executive, capping a tumultuous week for the firm.
www.bbc.com
Previously, everyone talked about FB coins. But I don't know anyone who would use Libra to pay. BTC has also not become a payment method for all online stores. Besides, you've been discussing the BTC halving here. I take it I shouldn't invest in it in 2024? I don't always trade BTC anyway. I like something less popular but quite promising, such as AAVE or DAO. In order not to miss the chance to catch the jackpot, it's worth using cryptographic signals. It will be easier for you to understand what I'm talking about after reading this review https://crypto-informator.com/blog/unismart-review/. You can get it by email or via Telegram chat-bots.
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biometrics
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biometrics
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biometrics
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Didn’t know Luno is owned by another company.
mybroadband.co.za
Luno’s sister company declares bankruptcy — what it means for South Africans
Luno’s lending partner and sister company Genesis Global Capital has declared bankruptcy. What happens if Luno’s whole parent company goes under?
mybroadband.co.za
SauRoN
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Didn’t know Luno is owned by another company.
Luno’s sister company declares bankruptcy — what it means for South Africans
Luno’s lending partner and sister company Genesis Global Capital has declared bankruptcy. What happens if Luno’s whole parent company goes under?
Largest single crypto holder in the world (Barry Silbert) and largest crypto conglomerate/holding company.
Should also be noted that only one part of Genesis is declaring under chapter 11 and it’s a bit different that the South African context to my understanding in that it means the company is sold to its creditors so it can continue to exist under changed ownership.
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SauRoN
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Not really.
Luno’s focus isn’t trading so much as holding, hence why they are very selective about which coins they list as they need to have legs and be sustainable.
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Maybe long term it's not really that sustainable when competition offers better options.
SauRoN
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More <> Better.
Like I said Luno is bringing value to customers in the form on the underlying token and it’s longterm prospects.
It’s not just trying to make a quick buck off trading fees by offering as many shitcoins as possible.
Exactly why Doge and others like it with no underlying value have never been listed.
Let’s also not go into the rather questionable and dodgy practises of said competition.
Binance has been under investigation by US Feds since 2018. No charges have been brought in the 4+ years as federal prosecutors within the Justice Department are in disagreement. If there were solid proof of questionable and dodgy practices why is the Justice Department split over bringing them to book?
Purpose of an exchange is to offer a service in exchange for trading fees. Imagine if the JSE only offered four or five company listings?
Many crypto coins are viewed by experts as solid investments compared to Dogecoin - Solana, Flux, Harmony and Avalanche to name a few.
SauRoN
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Solana is on Luno…
Like I said before Luno’s primary business isn’t the Exchange but rather the Wallet.
Binance skirts the law in grey areas in every country they operate, South Africa included.
Not a company I would want to keep my money with considering how they cowboy around.
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biometrics
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I doubt Binance will see the end of 2023.
Genesis Global Holdcom, the group owning Luno is not so squeaky clean either.
www.dailymaverick.co.za
After the Bell: The dark side of the Luno crypto exchange
The first question holders of crypto in Luno have is — of course — whether my bitcoin (or whatever) is still worth anything.
www.dailymaverick.co.za