$300 Million Fraud = 20 Years in Prison. Japan Lets Start-ups Fundraise with Crypto. Deutsche Bank to start holding crypto.

September 15, 2023

Crypto Market Update 15-09-23

Happy Friday everyone!

If you’re already missing those sunny days at the beach, we got you and that's why we make your day sunnier with our weekly recap 📰😎

Last 7 Days Market Performance 

Bitcoin is up 1.9%, now at $ 26,334.00 📈

Ethereum is down 0.4%, now at $ 1,621.00 📉

Total crypto market cap: $ 1.09 Trillion

Fact for the week:

🇰🇵 Kim Jong Un visited Vladimir Putin this week in a city in the far east of Russia, but you've all read this somewhere. What you didn't read were the curiosities we bring you here. Kim prefers to travel the world in his train that reaches a maximum speed of 50km/h. And all for good reason: on his train you'll find a medical centre, a garage for his Mercedes limousine and even a karaoke room. To eat, the menu included live lobsters flown in by aeroplane, French wine and donkey meat. You don’t get this in a jet  🚅🦞

Onto this week’s updates 🚦

🔴 $300 Million Fraud = 20 Years in Prison 🚔

Karl Greenwood, co-founder of the notorious OneCoin project, was slapped with a 20-year prison term. Accused of defrauding 3.5 million investors, Greenwood used the stolen gains for luxurious vacations, a private jet, and a yacht. In addition to jail time, he must cough up $300 million. His partner, Ruja Ignatova, known as the "Crypto Queen," is still at large. Last seen in 2017, she made the FBI's Top Ten Most Wanted list in June 2022. 🏃

🟡 Japan Lets Start-ups Fundraise with Crypto 💴

Japan plans to let start-ups raise capital through crypto instead of traditional stocks, according to local media. The new rule marks a shift in Japan's cautious approach to digital assets. On August 31, the Financial Services Agency aimed to update crypto tax codes, potentially lifting year-end "unrealized gains" tax and Japan’s Prime Minister Fumio Kishida voiced support for the emerging Web3 industry at Tokyo's WebX conference, signaling the nation's changing stance. 🌱

🟢 Deutsche Bank to start holding crypto 💼

German banking giant Deutsche Bank will begin offering Bitcoin and crypto custody services to its institutional clients. According to the Bank, "As the digital asset space is expected to encompass trillions of dollars of assets, it's bound to be seen as one of the priorities for investors and corporations alike". Well, we can say that Bitcoin is increasingly being recognized as a valid asset class, becoming an appealing investment choice also for institutional investors such as hedge funds and family offices. 🏦

🎬September started a few weeks ago but everything remains calm. On the other hand, at Lympid, we are at full speed and have great news to tell you next week. 👀 If you want to be ready, register now at http://app.lympid.io

You’ve been warned 🙂

Lympid: Crypto interests on a trusted, regulated platform

Talk next week 👋


Great job on learning something new today 🎉