More

    Danske Bank’s Money Laundering Worth $235 Billion Trumps Whole Crypto Market Cap Value

    Danske Bank, the Danish lender bank which was situated at the center of the huge money laundering scandal in Russia recently has illegally processed more money than the entire market cap of the cryptocurrency market.

    The numbers are certainly incredible. As noted on social media by Anthony Pompliano, Morgan Creek Digital’s founder and partner, the problem may be even bigger as the bank only reported the sum of its branches in Estonia over a period of eight years.

    Banks Appoints New CEO

    After the scandal, the bank has decided to appoint a new CEO for its Danish operations, Jesper Nielsen. Thomas Borgen, the former head of the bank, was abruptly fired after the scandal broke out.

    Pompliano has gone to social media to suggest that the episode could be a source of “renewed faith” for crypto investors as it faces heavy criticism and it is currently facing a bear market. He affirmed that a single bank was used for more money laundering than the whole crypto market and affirmed “Long Bitcoin, Short the Bankers”.

    Danske Bank Has Affirmed That Cryptos Lack Transparency

    Ironically enough, the Danske Bank has taken a very negative stance on cryptocurrencies before the scandal broke out. For instance, the bank has implored its customers not to invest in cryptos, as they lacked transparency and regulatory control.

    The statement, which can cause one to laugh today, has affirmed that, on several occasions, people have linked cryptocurrencies to money laundering and illegal activities. The bank has also affirmed that they have “an obligation to assist in the fight against financial crime and money laundering” in the report and have reaffirmed that cryptos lack the levels of transparency to be used.

    Bank being hypocrites are nothing new, though, Rabobank, a Dutch lender, has recently found itself in the middle of a huge laundering scandal and it has also refused to let users have Bitcoin accounts because of the “compliance risks” involved. It looks like banks are only against money laundering when they are not getting a cut in the profits.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,290FansLike
    2,762FollowersFollow
    4,138FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    TRON (TRX) Price Analysis (February 23)

    • The trend of the coin looks bullish in its medium-term while the short-term outlook is in a range-bound. • Patience is required at this...

    Block.One’s Beta Launch Of EOS Based Social Network Voice Raises Privacy Alarms

    Block.one’s Facebook asking for tons of personal data to jo Voice beta More concerning than privacy alarms is the use of data to...

    Criminal Assets Bureau Confiscates Over 6,000 Bitcoin But Unable to Sell Them

    The Criminal Assets Bureau (Cab) has confiscated 12 online accounts, wallets containing 6,000 bitcoin of a drug dealer who had €55 million (over $59.6...

    Top Medical Firms Set to Develop a Blockchain Solution to Prevent Counterfeit Drug Supply

    Top medical firms partner to develop a blockchain based solution to combat counterfeit drugs in the market. The MediLedger blockchain aims to verify...

    EOS Suffers “Major Outage” on Coinbase as Network Performance Issues Arise

    This month alone Coinbase suffered issues with EOS thrice, the exchange is still investigating the problem. Meanwhile, No blockchain is cartel resistant, but EOS’s the...

    New Jersey Introduces Bill For Crypto Firms To Obtain Licenses From State Authorities

    A New Jersey lawmaker introduces a bill to regulate the cryptocurrency and digital assets industry. The bill states each virtual asset company must obtain...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.