Ex-BS bankers raise $100 million for crypto project
Two former executives of UBS have raised over $ 100 million to launch a crypto bank called Seba Crypto. Black River Asset Management and Summer Capital led the funding round to set up the venture in the valley of Zug in Switzerland even though the bank has yet to secure its Swiss banking license.
Talks with Swiss regulators are ongoing and the application is expected to be filed by the end of October with the bank saying it wants to be the bridge between traditional fiat markets and the new world of crypto.
Korean Exchange CEO accused of 1 billion won bribe
The CEO and COO of a large Korean crypto exchange, Coinnest, have been indicted under an accusation that they received approximately $890,000 in bribes of differing currencies for listing a currency.
The Seoul Public Prosecutor’s office says the official pushed the coin, referred to under the moniker of S coin, through the system without the necessary checks, and with weak technological problems ...
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