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.
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As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns
Bulgaria's National Bank has disclosed the country's external debt figures, revealing a notable increase in gross foreign debt at the end of February 2024
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
The National Statistical Institute reports that in 2023, the poverty line for the entire country stood at 637.92 BGN per person per month within households
Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022