Bulgarian Woman Sentenced to Four Years in OneCoin Crypto Fraud
A Bulgarian woman, Irina Dilkinska, has been handed a four-year prison sentence for her involvement in a large-scale fraud scheme orchestrated by the cryptocurrency company OneCoin.
Bitcoin is booming, digital currency hedge funds are sprouting at the rate of two a week and the value of all cryptocurrencies has surged tenfold this year to more than $170 billion, reported Reuters.
Yet for all the hype, mainstream institutional investors are steering clear of the nascent market, taking the view that it is too lightly regulated, too volatile and too illiquid to risk investing other people’s money in.
Bitcoin, the biggest and most well-known cryptocurrency, has outperformed all the world’s traditional currencies each year since 2011, except for 2014. But many investors still view it as an opaque, esoteric instrument used by gun-runners and drug-dealers on the Dark Web that should be avoided.
This year, though, a flood of new hedge funds focused on cryptocurrencies has offered institutional investors who might be unfamiliar with the market a potential route into the world of digital currencies.
According to Autonomous NEXT, a financial technology research house, 84 so-called crypto hedge funds have been launched this year, taking the total to 110 with about $2.2 billion in assets altogether.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
Amidst discussions about Bulgaria's journey towards joining the Eurozone, Deputy Governor of the Bulgarian National Bank (BNB), Petar Chobanov, highlighted the robustness of Bulgaria's banking system, stating it aligns closely with Eurozone standards
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022