A documentary on a 20-year-old crypto trader who allegedly turned $50 into an $8 million fortune last year has been removed by the BBC. The Crypto Millionaire was the title of the documentary, which chronicled the narrative of Hanad Hassan, a Birmingham resident who claims to have made a return of around 16,000,000% in a year by trading unnamed crypto assets. The piece was supposed to air this week, and it would have explored how Hassan had begun to give back to the community as a result of his newfound wealth, but it was canceled after the Guardian revealed on Feb. 10 that it had expressed problems about the BBC’s research: “The Guardian asked the BBC if it was confident in his claimed financial returns and questioned why the program’s promotional material did not mention that Hassan’s cryptocurrency Orfano was abruptly shut down in October, with many unhappy investors claiming they were left out of pocket as a result.” The Guardian’s media editor Jim Waterson wrote, “The BBC swiftly said it had withdrawn the show but did not make any further comment on its editorial checks.” Hassan Had First Turned $50 Into $1M in Q1 2021 Hassan had first transformed $50 into $1 million in Q1 2021, according to a now-deleted promotional story for the program on the BBC’s website (that can still be viewed via web.archive.org), before going on to co-create his own ‘special cryptocurrency’ that distributes all of its proceeds to charity. The BBC did not disclose the details behind Hassan’s ‘net worth’ and how he generated the money between Q1 and Q4 2021, therefore it is unknown how he made the remaining $7 million of the estimated $8 million sums. Hasan’s ORFANO token, according to Coinmarketcap, was introduced on April 2, 2021, with a 6% tax on all transactions using the asset. A portion of the tax revenue earned by the token was allocated to a wallet address for charitable donations. The coin does not have a pricing history, but according to the BBC, OFRANO donated $200,000 to charity last year from its profits. According to posts from the r/Orfano community on the social media network Reddit, the project remained silent in September before shutting down in October, implying that ORFANO barely lasted five or six months. Several individuals on the subreddit claimed that the project was illegitimate, but this is a pretty regular claim made by community members whenever projects fail. Hassan and co-founder Ahmed wrote in a message to the community that was reposted on Reddit: “Things haven’t gone the way we had planned and after careful consideration, we have decided that we will [be] stopping the continuing of the project. The team has put in every effort to maintain and grow the token but we don’t see any progress and a way to bring Orfano x back to the good days.”

The post Questions About A Trader Who Turned $50 Into $8M Made BBC Pull Out Documentary appeared first on Cryptoknowmics-Crypto News and Media Platform.

A previously unknown hacking group has been linked to targeted attacks against human rights activists, human rights defenders, academics, and lawyers across India in an attempt to plant "incriminating digital evidence." Cybersecurity firm SentinelOne attributed the intrusions to a group it tracks as "ModifiedElephant," an elusive threat actor that's been operational since at least 2012, whose

India's Finance Minister Nirmala Sitharaman came out guns blazing to clarify that cryptocurrency taxation is a "sovereign right" and a "corrective action". (Read More)

Kenya joins the growing list of countries that are exploring national digital currency options. The Central Bank of Kenya has said the use of a Central Bank Digital Currency (CBDC) could enhance cross-border payments by making them more efficient and less costly. More and more countries are now exploring a CBDC option. Earlier, the Indian […]

According to crypto analyst Nicholas Merten, corporate investment in the crypto markets may be the catalyst that propels Bitcoin (BTC), Ethereum (ETH), and the rest of the crypto markets out of their current slump. The DataDash host tells his 508,000 YouTube subscribers in a new video that corporate treasurers will save the crypto markets sooner than many expect. He said: “Corporate treasurers… could be the catalyst that carries us out of this recent correction that we’ve had in December and January. I do believe we are going to see it faster than we may expect.” Corporate Treasures are Picky About Their Investments When it comes to entry points, corporate treasurers are pickier than regular investors, according to Merten. According to the analyst, with crypto markets trading at a significant discount to all-time highs, huge corporate players may be trying to diversify into the young space. He said:  “Corporate treasurers are not going to buy at new all-time highs. They buy when assets are at discounts. They rotate assets in their balance sheet, whether it’s up, you know, just basically cash, buying it on a discount, or maybe, for example, their equity plays have been doing really well, and now, they’re going to lock in some of those gains and rotate to fixed income assets like bonds or treasuries. Or into a new asset class, like cryptocurrencies. That’s how a corporate treasurer thinks. They do not buy at peaks in price, they buy at discounts when no one else is willing to buy because they know that it’s just like shopping – it’s going out and finding things that you like at a discount.” According to the expert, KPMG Canada’s recent addition of Bitcoin and Ethereum to their balance sheet is quite significant. According to Merten, the Big 4 accounting firm’s choice could create a precedent for other corporate behemoths to follow suit. He also stated:  “That is a major move for crypto assets… To have a traditional company like KPMG now starting to showcase that they believe that Bitcoin and Ethereum are tokens worth putting on their balance sheet…..”  The company’s decision to buy crypto in Canada could be because the country’s legislative structure is more favorable to the asset class and related goods than the United States. KPMG has recently expanded its operations to embrace new technologies and financial services. It already has a division that deals with crypto assets and blockchain technology. Its US office is in charge of auditing MicroStrategy Incorporated (MSTR), a software company with the largest cryptocurrency holdings among publicly traded businesses.

The post Analyst Nicholas Merten Says Corporations Will Enter Crypto Markets Soon appeared first on Cryptoknowmics-Crypto News and Media Platform.

The NEO coin price can shortly break above the $25 mark as the uptrend gains momentum after the falling channel breakout. Neo claims to be a ‘rapidly growing and developing’ system that is in the process to become the basis that will enable the next generation of the internet — a brand new economy that is where digital payments, as well as assets and identities, are brought together. Following China’s prohibition of cryptocurrency last year, the whole market for cryptocurrency fell. One of the most affected tokens was Neo, the Ethereum-like token that was originally referred to by the name of “Ethereum of China.” However, Neo’s developers claim that the company is still in good shape regardless of the China ban. Let us move ahead to read about Neo technical analysis. Past Performance of NEO NEO coin price shows a similar trend as many other coins as it breaks above the falling channel pattern in the daily chart. The coin price shows a rally of 35% in the past two weeks resulting in the breakout of $20 and possibly $25 soon. The rally shows sustenance above the $22.5 mark indicating a high likelihood of bullish continuation.  NEO/USD Daily Chart NEO Technical Analysis The NEO coin price shows bullish follow-through candlestick after showing lower price rejection near the $22.5 mark. Therefore, the rally may shortly cross the $30 psychological barrier.  The Ichimoku Cloud Indicator shows the price on the verge of crossing into the bearish cloud. Moreover, the bullish crossover of the conversion and base lines gives an early indication of a trend reversal. The MACD indicator shows a sharp surge in the fast line as it crosses above the zero line mark in the daily chart. The slow line maintains a similar growth and indicates a solid uptrend in action.  The RSI indicator shows a growth in the underlying bullishness as the slope crosses into the nearly overbought zone. Moreover, the 14-days SMA breaks above the central mark indicating a solid uptrend in action. Therefore, the technical indicators keep a bullish sentiment for the NEO token. Upcoming Trend The NEO coin price shows the post-breakout rally gaining trend momentum and it may shortly breach the $25 mark. Hence, traders may shortly find another breakout entry opportunity.  The uptrend may find resistance near the $30 and $38 horizontal levels after the $25 mark. However, on the opposite end, the support levels are at $22.5 and $20.

The post NEO Technical Analysis: Will The Uptrend Surpass $25? appeared first on Cryptoknowmics-Crypto News and Media Platform.

The WAVES coin price action shows a double bottom breakout that may lead to a potential trend reversal and reach the $15 mark. Waves is an all-purpose blockchain platform that can be used for a variety of purposes, including apps that are decentralized (DApps) and smart contracts.  The first DEX aggregator Puzzle Swap launches on Waves blockchain, causing investors to purchase Waves. This launch is a thrilling possibility to the community, given it is known that DEX aggregators are extremely sought-after as the adoption of crypto continues to grow. This suggests an increasing demand for the service, making the present a good opportunity to invest in the token. Let us move ahead to read about Waves technical analysis. Past Performance of WAVES WAVES coin price forms a double bottom pattern near the $8 mark after the downfall of almost 75% in the past four months. The correction phase started with the rejection near the $36 mark. However, the recent double bottom breakout brings a recovery of 50% from $8 resulting in a potential trend reversal.  WAVES/USD Daily Chart WAVES Technical Analysis The WAVES coin price breaks above the neckline of a double bottom at $10.5 and continues to approach the $12.5 mark. However, the price struggles to rise above the $12.5 mark as the sellers attempt to undermine the bullish recovery. The crucial Exponential Moving Averages (50,100, and 200) show a bearish alignment in the daily chart with the 50-day average providing dynamic resistance. The breakout of this average can lead to a price jump to the 200-day average at $17. The MACD indicator shows rising fast and slow lines after the bullish crossover in the negative territory. Moreover, the bullish trend in histograms showcases a rise in buying pressure. The RSI indicator shows the slope crossing above the 50% mark into the nearly overbought zone after the bullish crossover with the 14-day SMA. Hence, the indicator showcases growth of bullish interest in the WAVES token.  In a nutshell, the technical indicator showcases an increase in the buying pressure which continues to fuel the uptrend. Upcoming Trend The WAVES coin price shows the double bottom breakout near $8 that marks the potential trend reversal. However, the 0.236 Fibonacci retracement level at $14.5 acts as the first line of bearish defense. The crucial upcoming resistance levels are at $14.50 and $17 after the 50-day EMA. On the opposite end, the support levels are at $10 and $8.

The post WAVES Technical Analysis: Pattern Breakout Brings Bullish Reversal  appeared first on Cryptoknowmics-Crypto News and Media Platform.

DUBAI, Feb 9, 2022 - (ACN Newswire) - Aditya Birla Sun Life AMC Limited's (ABSLAMC) offshore subsidiary has appointed Mr. Sarath Sathkumara to lead investments for its international business.

Aditya Birla Sun Life AMC Limited is the fourth largest asset manager in India with total assets under management of close to $42 billion. The publicly listed company has its presence in over 280 locations pan-India and present in international markets such as Dubai, Singapore, and Mauritius. It also operates via UCIT to cater to European markets. The company recently received approval from International Financial Services Centres Authority (IFSCA) to carry out Portfolio Management Services from GIFT City in India that will help to expand its reach and service to global clients. Aditya Birla Sun Life AMC Limited's offshore subsidiaries manage money to the extent of USD 1.32 billion. ABSLAMC is a subsidiary of Aditya Birla Capital Limited (a non-bank financial services conglomerate), and investment manager to Aditya Birla Sun Life Mutual Fund (ABSLMF).

Commenting on his appointment, Mr. A. Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC Limited said, "We are delighted to have Sarath Sathkumara come on board. He is a seasoned global emerging markets investor with over 30 years of experience in international capital markets and investing. His rich experience, illustrious background and in-depth knowledge of global markets will be an instrument in capitalizing overseas opportunities and launching investment solutions that cater to the needs of international investors. This further strengthens our overseas presence and aligns with our strategy of expanding our offshore business. Sarath will initially focus on launching ESG centered products, along with relevant solutions to cater to GIFT City and overseas clients".

In his current role with ABSLAMC's offshore arm, Sarath has joined as CIO International. Most recently, Sarath was the Managing Director/Portfolio Manager for Taiyo Pacific Partner's India engagement investing business, starting the business 10 years ago and building it ground up. Prior to that, he has worked as a Chief Investment Officer of SBI Venture Capital in Singapore. From 2002 to 2008, Sarath was a Senior Portfolio Manager with the State Street Global Advisors' Active Emerging Markets Group (AUM $12bn), focusing on Asia and MENA regions. Before that Sarath spent 7 years with Capital International in Singapore as part of Capital International's Emerging Markets team (AUM $24bn). He was instrumental in building and running Capital's India business from 1993, the year India opened for foreign investment and witnessed India's capital market transformation. Before that he was with HSBC Group for 10 years in investment and corporate banking in Dubai, San Francisco and New York.

About Aditya Birla Sun Life AMC Limited

Established in 1994, Aditya Birla Sun Life AMC Limited (ABSLAMC) is a joint venture between the Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc. ABSLAMC is primarily the investment manager of Aditya Birla Sun Life Mutual Fund, a registered trust under the Indian Trusts Act, 1882. ABSLAMC also operates multiple alternate strategies including Portfolio Management Services, Real Estate Investments and Alternative Investment Funds. ABSLAMC is one of the leading asset managers in India, with a pan India presence across 280 plus locations and a total AUM of over Rs. 3,109 billion under its suite of mutual fund (excluding our domestic FoFs), portfolio management services, offshore and real estate offerings and 7.6 million investor folios for the quarter ending December 31, 2021.

For any media queries, please contact:
Amrita Panja
Email: [email protected]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAditya Birla Sun Life AMC Limited's (ABSLAMC) offshore subsidiary has appointed Mr. Sarath Sathkumara to lead investments for its international business.

A politically motivated advanced persistent threat (APT) group has expanded its malware arsenal to include a new remote access trojan (RAT) in its espionage attacks aimed at Indian military and diplomatic entities. Called CapraRAT by Trend Micro, the implant is an Android RAT that exhibits a high "degree of crossover" with another Windows malware known as CrimsonRAT that's associated with Earth

The Indian bank says the new ATMs will offer "expanded transaction options via our self-service channel".

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Bitcoin mimics the stock rally, Morgan Stanley says bitcoin correction is nothing new and does …

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With the first week of February almost over, let's take a look back at the news stories that dominated the worlds of Forex, Fintech, and Crypto in our best of the week segment.