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A press release shared with Bitcoinist claimed that Bitfinex partnered with crypto bank OrionX. The cooperation will allow the trading venue to strengthen its foothold in the Latin American region by targeting key countries with a high demand for crypto products.

Bitfinex Grows In Latin America, What’s Behind Deal With OrionX?
Based in Chile, OrionX was launched 2017 as a crypto trading platform. In the following years, the company has become a powerhouse in its home country, and it’s looking to expand into Peru, Colombia, and Mexico as it targets one million users by 2024.
In that sense, the cooperation with Bitfinex will allow the crypto bank to use its partner’s expertise as a worldwide platform. OrionX might benefit from Bitfinex’s capabilities with multiple products, such as trading, staking, and crypto lending.
Thus, the Latin American platform is seeking to increase its chances of succeeding in its expansion. In the meantime, Bitfinex seeks to increase its presence in the region.
Cofounder of OrionX Joel Vainstein stated about the partnership:
Having a strategic collaboration with a company like Bitfinex will play a vital role in advancing our project in LATAM. We firmly believe that their involvement will provide a substantial impetus to our capital raising activities. We are confident that their extensive experience and proven product portfolio will expedite our own product development and user base expansion, positioning us as the benchmark in the region.
Since 2021, the crypto trading venue has doubled its efforts to work with Latin American projects. Per the release, the company partnered with several organizations to promote Bitcoin and decentralized technologies, such as “Mi Primer Bitcoin,” based in El Salvador.
In addition, the crypto trading venue has been promoting financial and scientific education via its contribution to a Paraguay-based NGO called Penguin Academy. Bitfinex sponsored a three-week boot camp focused on teaching women coding skills.
The cooperation with OrionX is taking these efforts to the next level. The partners recognize the region’s need for financial products and services and are preparing to offer an alternative to the legacy financial system.
According to Paolo Ardoino, CTO at Bitfinex:
We’re excited to collaborate with Orionx as we look to expand our presence in Chile and across Latin America. This represents a major step forward in our efforts to harness the power of Bitcoin and decentralised technology to promote financial freedom and empower businesses that share our values. We look forward to working even more closely with the team at Orionx to support its growth and development going forward.
Latin America is one of the fasting regions adopting cryptocurrencies and digital assets. This metric has been expanding by 40% year-on-year, per data from Chainalysis.

In countries like Venezuela and Argentina, crypto is a lifeline for people looking to send and receive money from their families abroad, an investment vehicle to shield from hyperinflation, and a medium of exchange more effective than their local currencies.

Cover image from Unsplash, chart from Tradingview


A press release shared with Bitcoinist claimed that Bitfinex partnered with crypto bank OrionX. The cooperation will allow the trading venue to strengthen its foothold in the Latin American region by targeting key countries with a high demand for crypto products. Related Reading: Japan Tackles Cr...

bitcoinist.com

Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America

A press release shared with Bitcoinist claimed that Bitfinex partnered with crypto bank OrionX. The cooperation will allow the trading venue to strengthen its foothold in the Latin American region by targeting key countries with a high demand for crypto products.



Bitfinex Grows In Latin America, What’s Behind Deal With OrionX?
Based in Chile, OrionX was launched 2017 as a crypto trading platform. In the following years, the company has become a powerhouse in its home country, and it’s looking to expand into Peru, Colombia, and Mexico as it targets one million users by 2024.
In that sense, the cooperation with Bitfinex will allow the crypto bank to use its partner’s expertise as a worldwide platform. OrionX might benefit from Bitfinex’s capabilities with multiple products, such as trading, staking, and crypto lending.
Thus, the Latin American platform is seeking to increase its chances of succeeding in its expansion. In the meantime, Bitfinex seeks to increase its presence in the region.
Cofounder of OrionX Joel Vainstein stated about the partnership:
Having a strategic collaboration with a company like Bitfinex will play a vital role in advancing our project in LATAM. We firmly believe that their involvement will provide a substantial impetus to our capital raising activities. We are confident that their extensive experience and proven product portfolio will expedite our own product development and user base expansion, positioning us as the benchmark in the region.
Since 2021, the crypto trading venue has doubled its efforts to work with Latin American projects. Per the release, the company partnered with several organizations to promote Bitcoin and decentralized technologies, such as “Mi Primer Bitcoin,” based in El Salvador.
In addition, the crypto trading venue has been promoting financial and scientific education via its contribution to a Paraguay-based NGO called Penguin Academy. Bitfinex sponsored a three-week boot camp focused on teaching women coding skills.
The cooperation with OrionX is taking these efforts to the next level. The partners recognize the region’s need for financial products and services and are preparing to offer an alternative to the legacy financial system.
According to Paolo Ardoino, CTO at Bitfinex:
We’re excited to collaborate with Orionx as we look to expand our presence in Chile and across Latin America. This represents a major step forward in our efforts to harness the power of Bitcoin and decentralised technology to promote financial freedom and empower businesses that share our values. We look forward to working even more closely with the team at Orionx to support its growth and development going forward.
Latin America is one of the fasting regions adopting cryptocurrencies and digital assets. This metric has been expanding by 40% year-on-year, per data from Chainalysis.



In countries like Venezuela and Argentina, crypto is a lifeline for people looking to send and receive money from their families abroad, an investment vehicle to shield from hyperinflation, and a medium of exchange more effective than their local currencies.

Cover image from Unsplash, chart from Tradingview


A press release shared with Bitcoinist claimed that Bitfinex partnered with crypto bank OrionX. The cooperation will allow the trading venue to strengthen its foothold in the Latin American region by targeting key countries with a high demand for crypto products. Related Reading: Here’s What The ...

newsbtc.com

Do Kwon, founder of Terraform Labs, which operated Terra stablecoin and Luna cryptocurrency, has pleaded not guilty to traveling to Montenegro.
In the Basic Court of Montenegro’s capital Podgorica, Kwon and Terraform’s chief financial officer Han Chang-Joon denied document forgery charges.
Shortly after, another local report informed that the Court approved the bail worth €400,000 that was proposed by Kwon. As such, he is set to be released ahead of the trial.
The prosecutors objected to the decision, arguing that Kwon and Chang-Joon had no interest in remaining in Montenegro until the court date.
Kwon Proposes €400K for Bail
Kwon and Han were arrested at the Podgorica airport on March 23, and the prosecutors filed the charges against them on April 2. On the May 11 hearing, their lawyers sought the defendants’ bail and proposed a combined amount of €400,000. They also asked the court to define the measures for the defendants to “leave the apartment” during the prohibition and its supervision.
“A trial was held before the Basic Court in Podgorica in the case against the defendants C.J.H. and K.D.H., who are accused of having committed the criminal offense of document forgery. At the main hearing, the defendants denied the commission of the criminal offense they were charged with and presented their defense,” Podgorica’s Basic Court, in a statement, said.
The defense lawyers further asked the court to allow Kwon and Han to “report to the state authority periodically.” However, the state prosecutors opposed these proposals. The court has not decided on the matter and set June 16 as the next hearing date.
No Immediate Extradition
After his arrest, the US and South Korea officially asked Montenegro for Kwon’s extradition, the country’s Justice Minister Marko Kovac told a press conference in Podgorica on March 23. He further said Kwon and Han had been charged with traveling to the country on forged documents, and they would be deported only after the trial was completed and they had served the sentence that the courts might give against them.
Both countries also requested the Montenegro authorities to hand over the computers of the two arrested Terraform executives.
Terraform Lab’s Terra and Luna coins, which were pegged to each other in an algorithmic arrangement, collapsed in early May 2022 and left the crypto market with a loss of nearly $40 billion.
The South Korean courts clubbed the complaints from investors in these coins who lost their money in two cases and pursued to bring Kwon and his associates to justice. Kwon has denied any wrongdoing, except that his business strategies failed, leading to the collapse of the Terra-Luna ecosystem. However, he refused to answer the summons and has been evading arrest by the South Korean authorities.
The post Terraform Labs Founder Do Kwon to Be Released on $440K Bail (Report) appeared first on CryptoPotato.

After his arrest in March in Montenegro, Kwon is facing trial for traveling on forged documents to the Southeastern European country.

cryptopotato.com

Terraform Labs Founder Do Kwon to Be Released on $440K Bail (Report)

Embattled Terra (LUNA) founder Do Kwon will remain in Montenegro following his arrest in the southeastern European country last week, according to a report.
Citing local prosecutor Haris Shabotich, South Korean publication Yonhap News says that Kwon will be held for 30 days as he awaits investigations over his use of forged travel documents.

Kwon was reportedly arrested at the Podgorica Airport with a forged Costa Rican passport while trying to board a flight to the United Arab Emirates. The embattled LUNA founder’s identity was confirmed through photographic and biometric data by South Korean authorities.
While a suspect can be detained for up to 72 hours in Montenegro, courts can make exceptions at the request of prosecutors to extend the period of custody for up to 30 days in the Balkan state.
The LUNA token and TerraUSD (UST) stablecoin collapsed in May of 2022 leading to losses amounting to tens of billions of dollars for the holders of the two crypto assets. Shortly after, Kwon went on the run and a warrant of arrest was issued by South Korean authorities in September. As recently as February, South Korean authorities thought he was in Serbia.
Kwon is also wanted in the United States where federal prosecutors have filed criminal charges against him including counts of commodities and securities fraud.
Last month, the U.S. Securities and Exchange Commission (SEC) also announced charges against Kwon accusing him of similar offenses.
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The post Do Kwon To Be Held in Montenegro for 30 Days As Authorities Investigate Forged Passports: Report appeared first on The Daily Hodl.


Embattled Terra (LUNA) founder Do Kwon will remain in Montenegro following his arrest in the southeastern European country last week, according to a report. Citing local prosecutor Haris Shabotich, South Korean publication Yonhap News says that Kwon will be held for 30 days as he awaits investiga...

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