cryptocurrency
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Robinhood Crypto Fined $AU43 Million by New York Regulator
Robinhood, the self-proclaimed ‘Democratized Finance’ app accused of misleading and ripping off retail investors will have to cough up another $US30 ($AU43) million to appease regulators. That raises the company’s overall regulatory penalty and settlement tab well above $US100 ($AU144) million.
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Even More Crypto Lenders Struggle to Stem Flood of Withdrawals on Their Platforms
The number of crypto lending platforms that actually let users take their crypto home with them is getting progressively smaller. One company even reported its users were draining their accounts of close to $US198 ($291) million in total over the past three weeks.
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Australians Lost $700 Million to Investment Scams Last Year, Mostly Crypto Ones
Nearly $1.8 billion was lost to scams in 2021, with a new report from the ACCC highlighting investment scams, such as crypto, are skyrocketing.
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Coinbase Is Selling Data on Crypto and ‘Geotracking’ to ICE
Coinbase Tracer, the analytics arm of the cryptocurrency exchange Coinbase, has signed a contract with U.S. Immigrations and Customs Enforcement that would allow the agency access to a variety of features and data caches, including “historical geo tracking data.”