Voyager Digital is a cryptocurrency “bank”. It isn’t regulated like a bank, which a problem for users. The have debit cards and make loans. They trade crypto. Accept deposits. They also offered insane “rewards” (12%) so they could invest in the crypto space. In order to fuel these crazy payouts, they had to make risky […]
Continue reading → [DISPLAY_ACURAX_ICONS]Tomorrow is the one-year anniversary of the Colonial Pipeline attack. The government has done more to improve cybersecurity in the last year than it had done in the last 10 years. But there is still a lot more to do. Jury Finds Norton/Lifelock Infringed on Two Columbia University Patents Even in the world of cybersecurity, […]
Continue reading → [DISPLAY_ACURAX_ICONS]Sungard Files for Chapter 11 Bankruptcy Protection – Again Sungard, the king of disaster recovery and business continuity needs to figure out a new business. They previously filed for Chapter 11 in 2019 and shed $800 million in debt, but they have a fundamental problem. As businesses move from private data centers to the cloud […]
Continue reading → [DISPLAY_ACURAX_ICONS]The Office of the Comptroller of the Currency or OCC regulates federally chartered banks. Digital banks, AKA crypto vunder-kids, would like to get a bank charter for a number of reasons. One reason is that they want access to the international banking network. Another is to show that they are all grown up. But if […]
Continue reading → [DISPLAY_ACURAX_ICONS]How Many Times Do I Need to Say – Crypto is Software, Software Has Bugs, Your Money is at Risk Decentralized Finance platform (DeFi) Revest Finance said that it lost $2 million due to a software bug and, oh yeah, (a) the can’t recover the funds, (b) they do not have the money to cover […]
Continue reading → [DISPLAY_ACURAX_ICONS]Senator Lummis from Wyoming plans to introduce legislation in early 2022 to attempt to rein in some of the wild west of the cryptocurrency world. Stay tuned. Rumor is that it will add investor protections, rein in stablecoins and create a self-regulatory body under the SEC and the CFTC. That might be a tall order […]
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