Rappler Recap: SC orders return of P60 billion to PhilHealth

Amidst the ongoing bear market in the cryptocurrency market, Bitcoin (BTC) and XRP prices have continued to decline, leaving many investors worried about the potential loss of their assets. However, some US investors are using the IOTA Miner app to earn their first million dollars—making steady profits during the bear market while preparing for the [...] The post Profit Even in a Bear Market: US Investors Use IOTA Miner to Earn Their First Million Dollars, Waiting for the Bull Run appeared first on Blockonomi.

The post CZ Recalls His Tearful Exit As Binance CEO, Shifts Focus To BNB Chain ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement &nbsp &nbsp Binance founder Changpeng Zhao (CZ) has revealed that his exit as CEO of the world’s largest exchange was an emotional rollercoaster, drawing tears as he penned his farewell note in 2023.  CZ disclosed that he is now focused on ecosystem projects on the BNB Chain and on interfacing with global regulators to advance cryptocurrency adoption. An Emotional Departure For CZ From Binance CZ publicly disclosed his state of mind during his 2023 exit from Binance as company CEO, revealing that the move was a painful departure. He shared his thoughts in a group media interview during the Binance Blockchain Week in response to questions over his decision to step down as CEO. According to CZ, resigning as CEO forced him to shed tears at 4 am while penning his “stepping-down blog” in Seattle. He added that recovering from the emotional rollercoaster of exiting his role as CEO took a while “to get over it.” “When I stepped down as Binance CEO, I actually cried,” said CZ. “When I was writing that blog, stepping down, I actually cried, and it was like 4 am in Seattle.”CZ served as CEO since Binance’s launch in 2017, guiding it to become the largest cryptocurrency exchange despite its late entry to the ecosystem. Back in November 2023, CZ formally announced his resignation as Binance CEO as part of settlement terms with US authorities, capping a yearlong investigation into alleged money laundering and sanctions violations. Advertisement &nbsp On the same day he resigned, the Binance founder admitted to failing to comply with US anti-money laundering (AML) regulations, eventually serving a four-month prison term. Richard Teng filled in CZ’s shoes as the new Binance CEO, with the founder remaining the largest shareholder. Life After Stepping Down After his exit as Binance CEO,…

The post Paxful Bitcoin Exchange Agrees to Guilty Plea in Money Laundering Case appeared on BitcoinEthereumNews.com. Paxful Holdings Inc., the operator of a peer-to-peer Bitcoin exchange, has agreed to plead guilty to federal charges for facilitating money laundering and other criminal activities, resulting in $7.5 million in penalties from the U.S. Department of Justice and FinCEN. Paxful processed over $3 billion in trades from 2017 to 2019, knowingly enabling fraudsters and money launderers. The exchange attracted criminal users by promoting weak anti-money laundering controls and avoiding customer identification. Transactions included $17 million in Bitcoin to illegal sites like Backpage, generating $2.7 million in profits for Paxful, with over $500 million in suspicious activity involving sanctioned nations. Paxful guilty plea reveals Bitcoin exchange’s role in criminal crypto trades. Learn how it facilitated $3B in illicit activity and faces $7.5M penalties. Stay informed on crypto regulations today. What Is the Paxful Guilty Plea and Its Impact on the Crypto Industry? Paxful guilty plea refers to the agreement by Paxful Holdings Inc. to admit fault in federal violations related to operating its peer-to-peer Bitcoin exchange without proper anti-money laundering safeguards. The company, which shut down in 2023, facilitated criminal transactions worth billions, leading to a $4 million criminal penalty from the U.S. Department of Justice and a $3.5 million civil fine from the Financial Crimes Enforcement Network. This case underscores the growing regulatory scrutiny on cryptocurrency platforms to prevent illicit finance. How Did Paxful Facilitate Criminal Activity on Its Platform? Paxful operated as a peer-to-peer marketplace where users exchanged Bitcoin and other cryptocurrencies for fiat currencies, prepaid cards, and gift cards, handling approximately $3 billion in trades between 2017 and 2019. According to the Department of Justice, the platform earned over $29 million in revenue during this period while deliberately ignoring red flags of criminal use. Acting Assistant Attorney General Matthew R. Galeotti stated that Paxful profited by “knowingly…