NFT News Official TheBitTimes.com

Crypto’s largest centralized exchange reportedly plans to end its partnership with Advance Cash, a Central American-based payment processor facilitating ruble transactions for Binance users. Binance sent an email to a client informing of its decision to shutter an agreement with payment processor Advance Cash, according to the Wall Street Journal citing people familiar with the matter. The report on Nov. 1 said that Advance Cash had not received any updates from the crypto exchange. Advance Cash, also known as Advcash, is a Belize-based company that handles fiat transactions for digital asset operators. Part of the firm’s services includes facilitating deposits and withdrawals denominated in the Russian ruble . Advcash reportedly allowed users to move funds from sanctioned Russian banks to Binance. crypto.news reached out to Binance for comments on the matter but was yet to hear back at press time. Binance has parted ways with a number of payment processors across Europe and t...

Chase Bank will start to block crypto payments in U.K. from October 16th. The retail bank says the ban is related to an increase in crypto frauds. Chase Bank has an active user base of well over 1.0 million in the U.K. Chase Bank – a subsidiary of JPMorgan has decided to ban crypto -related transactions in the United Kingdom. Why is Chase Bank banning crypto transactions? Payments via outgoing bank transfers or the debit card suspected to be linked to crypto currencies in any way will be blocked from October 16 th , the bank told its customers in an email today. Chase said it was moving to impose an outright ban because crypto scams are on the rise in the U.K. We’ve seen an increase in the number of crypto scams targeting U.K. consumers. So, we’ve taken the decision to prevent the purchase of crypto assets. The retail bank has an active user base of well over 1.0 million in the United Kingdom. U.K. consumers have lost millions to cry...

Gemini co-founder Cameron Winklevoss has proposed a final offer, mandating Digital Currency Group’s (DCG) Barry Silbert and his embattled company to start reimbursing Gemini Earn creditors by July 21 or face a lawsuit.  There appears to be a glimmer of hope for victims of the collapsed Gemini Earn program, as Cameron Winklevoss has now given Barry Silbert and his Digital Currency Group (DCG) an ultimatum to pay up the debt owed Earn users or risk a lawsuit. Best and Final Offer pic.twitter.com/r7jyhJyKGg — Cameron Winklevoss (@cameron) July 4, 2023 In a lengthy open letter posted on Twitter during the late hours of July 3, Cameron proposed a final offer, which mandates the DCG team to make a forbearance payment of $275 million on July 21, a $355 million debt tranche in the next two years and an $835 million debt tranche due in five years.  You might also like: US law firm files class action suit against Gemini over failed Earn product Gemini’s Earn lending a...