Crypto Biz: Elon Musk’s X targets financial services, PacWest emergency rescue and more

Social media platform X — formerly known as Twitter — may soon advance plans to add financial services to its users, hoping to become the American equivalent of the Chinese super-app WeChat.The concept of super-apps isn’t new. Tech giant Tencent, the company behind WeChat ...

Blockchain Australia CEO calls for unified efforts to stamp out crypto scams

Blockchain Australia’s new CEO, Simon Callaghan, is urging Australia’s banks, the government and the crypto industry to come together to combat rising cryptocurrency scams.Speaking on the final day of Australian Blockchain Week in Melbourne on June 30, Callaghan announced that ...

Australian banks claim 40% of scams ‘touch’ crypto as it defends restrictions

Australia’s cryptocurrency industry banking woes will likely continue, with the government and major banks signaling no intention to back down against scams that “touch” crypto.During a panel at the Australian Blockchain Week on June 26, Sophie Gilder, managing director o ...

Bitcoin Sold at Discount on Binance Australia Platform, Amid Regulatory Concerns

As reported by Reuters, holders of the first cryptocurrency on the Binance Australia platform are selling bitcoins at a discount of A$9,000 (nearly $6,000). On the Binance Australia platform, the bitcoin price was about A$34,000 ($23,000). At the same time on the local c ...

Binance Accused of Violating U.S. Financial Rules by Commingling Customer and Corporate Funds

As reported by Reuters, the cryptocurrency exchange Binance in 2020 and 2021 did not keep separate records of corporate and customer balances in violation of U.S. financial rules. Reuters, citing unnamed sources close to the Binance exchange, reported that the cryptocurrenc ...

Binance Australia’s Payment Suspension Sparks Debate, Industry Remains Optimistic

Firms commented after yesterday's incident And say Australia's crypto flight is normal The news that Binance Australia has suspended local currency deposits via PayID was hotly debated online yesterday. The reason was the provider Westpac, which refused to coo ...

Binance Australia Faces Restrictions on PayID Deposits and Withdrawals

Binance Australia stopped working with banks via PayID. In addition, the continent's largest bank, Westpac, banned its customers from making deposits on the cryptocurrency exchange. The exchange said today that deposits via PayID a ...