Malaysian Exchange CoinBit: ‘People Are Looking for Alternatives to Inflation’
CoinBit.me is a new Bitcoin platform that was launched in Malaysia in April. Since its inception, 17,800 registered users from all around the world have signed up. Co-founders Thinhes Selvaraja, CEO, and Calvin Kong, a software engineer from Hong Kong, started their business with a specific goal in mind — to be the first Bitcoin company incorporated in the country. The growing startup now has six members controlling legal, accounting, design and business development. CoinBit also provides other cryptocurrency solutions like bill payment and phone top ups. Malaysia offers a “fresh....
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In South Korea, authorities have formally pressed fraud charges against the chairman of a major crypto exchange in the country, Coinbit, plus two unnamed executives of the firm. They are suspected of price manipulation. Coinbit’s Executives Formally Charged by South Korean Authorities According to Newspim, the 5th Investigation Team of the Seoul Metropolitan Police Agency made the official announcement. The same local media outlet quoted the country’s prosecutors, who are preparing themselves for the case, as they believe the executives participated in market manipulation....
Police have charged Coinbit chairman Choi Mo and two unnamed executives with fraud and forgery related to market manipulation and prosecutors are preparing the case. South Korean authorities have charged executives of what was once the country’s third-largest cryptocurrency exchange, Coinbit, over market manipulation allegations.According to news outlet News1, prosecutors are preparing a case against Coinbit chairman Choi Mo and two unnamed executives on charges of fraud and forgery connected to market manipulation following a recommendation from the Seoul Metropolitan Police Agency. The....
Jack Ma, the founder of the $239 bln e-commerce conglomerate Alibaba, was appointed by the Malaysian government to mentor companies in the various sectors of its digital economy. In early November of last year, Malaysian Prime Minister Najib Razak officially announced Ma’s important role in the country’s growing e-commerce industry as an adviser and mentor. Razak stated that the partnership between Ma and the Malaysian government will allow the nation’s e-commerce industry to grow exponentially towards the right direction. Razak stated: "We will be in partnership with Jack on the path....
One of Malaysia’s top investment banks has bought a 19% stake in a local crypto exchange via its private equity arm. The Kenanga Investment Bank announced its inception into the crypto business by investing in Tokenize Xchange. Tokenize Xchange Is One of the Three Malaysian Licensed Crypto Exchanges Per the official announcement, the bank made the transaction through Kenanga Private Equity Sdn Bhd via a conditional agreement to purchase 19% equity interest in the trading platform. Hong Qi Yu, chief executive officer of Tokenize Xchange, founded the firm in 2018. Since its launch in....
Taxi passengers in the Malaysian cities of Kuala Lumpur and Johor Bahru can now pay for their rides in bitcoin, thanks to a booking service called Taximonger. Bitcoin Malaysia reported that it believes Taximonger offers the first opportunity for Asian taxi customers to use bitcoin, adding that for Malaysia it also represents the first cashless payment system for cabs, a long overdue addition. Taximonger offers a simple taxi matching service for passengers and about 1,400 drivers. There are apps for both iOS and Android, and customers can also book using the website. Rather than scanning QR....