Susquehanna to Provide BTC Trading For 500 Customers

Company was impressed by the success of bitcoin futures, so they decided to operate with cryptocurrency on public
06 June 2018   593

The large US financial company Susquehanna International Group announced that it will provide access to bitcoin trading for 500 customers, after two years of processing similar transactions privately, New York Times reports.

We believe that this technology and this asset class is going to change some facet of financial services, and we think it is going to exist forever.

Bart Smith

Head of the digital asset group, Susquehanna International Group,

Initially, Susquehanna will work with cryptocurrency futures, subsequently adding the possibility of buying / selling Bitcoin, Ethereum, Bitcoin Cash and other crypto coins.

The company already carries out transactions with bitcoin for millions of dollars, for which it formed a team of dozens of traders. For the first time with bitcoin Susquehanna operated in 2014, when the Winklewoss brothers, founded the Gemini exchange, and asked to support their bitcoin-ETF, whose registration they intended to negotiate with regulators.

Susquehanna was impressed by the success of bitcoin futures, launched in December last year by two American trading floors; so they decided to operate with cryptocurrency on public.

To provide cryptocurrency products to its customers, Susquehanna asked regulators to make changes to it's broker-dealer license, which will allow it to operate with digital assets qualifying as securities.

Smith also commented on the investigation conducted by the US authorities regarding possible manipulation of the cryptocurrency market. A representative of Susquehanna said that he did not notice any obvious evidence of manipulation, although his company works with unregulated cryptoexchanges, while recognizing that this market is still in its infancy and characterized by a lack of proper regulation.

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   290

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.