P2P Lending Platform TrustBuddy AB Investigates Internal Financial Misconduct
Technological innovation in the financial sector is much needed at this point, yet there are different obstacles along the way for achieving this goal. Peer-to-peer lending sounds great on paper, but there is one major issue with most of the platforms offering such a service right now. Any type of misconduct within the company will not only harm colleagues, but it can even lead to platforms being shut down altogether. TrustBuddy is a well-established peer-to-peer lending provider, offering their services to consumers, small and mid-size businesses. Over the years, Trustbuddy has expanded....
Related News
On January 5, the open-source non-custodial decentralized finance (defi) lending platform Aave launched a permissioned version of the protocol aimed at institutions. The platform dubbed Aave Arc will leverage Fireblocks as the first whitelister as the platform aims to help bridge traditional financial institutions with defi. KYC-Centric Defi Liquidity: Aave Launches Aave Arc Permissioned Protocol for Financial Institutions Aave has launched a permissioned platform called Aave Arc on Wednesday, a new protocol dedicated to financial institutions that want to particpitate in defi in a....
The U.S. Securities and Exchange Commission (SEC) has charged cryptocurrency lending platform Blockfi in a first-of-its-kind action. The crypto lender has agreed to pay $100 million to settle the charges and pursue necessary registrations.
SEC Charges Crypto Lending Platform Blockfi
The U.S. Securities and Exchange Commission (SEC) announced Monday that crypto lending platform Blockfi has agreed to pay $100 million in penalties.
The SEC explained that “In this first-of-its-kind action,” it “charged Blockfi Lending LLC with failing to....
While cryptocurrency and blockchain technology is still relatively new, they have been rapidly growing, with companies taking advantage of this new, innovative, and disruptive technology that is reshaping many industries, namely the financial sector. The lending industry is currently a multi-billion dollar industry, with loans being provided by banks and other financial institutions to individuals and businesses alike; nevertheless, it’s been plagued by trust and transparency issues. The decentralized nature of blockchain technology has led to the rise of a new generation of financing....
The Bahamas securities regulator and financial investigators are reportedly investigating the collapsed crypto exchange. An investigation of possible criminal misconduct over the insolvency of cryptocurrency exchange FTX is underway by financial investigators and the Bahamas securities regulators, according to a statement by the Royal Bahamas Police Force sent to Reuters on Nov 13. The Royal Bahamas Police stated: "In light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd., a team of financial investigators from the Financial Crimes Investigation....
After launching its crypto lending service in late 2020, SBI has now added support for XRP. Japanese financial services firm SBI Group has enabled XRP lending through its cryptocurrency-related subsidiary, SBI VC Trade.According to a Feb. 4 announcement, SBI VC Trade Lending users can now earn interest by depositing their XRP holdings between 1,000 and 100,000 XRP, with the lending period lasting up to 84 days.“VC Trade Lending is a service that allows customers to rent out their crypto assets to the company and receive interest rewards according to the quantity and duration of the crypto....