When it comes to determining ownership of private wallets, VASPs in Switzerland have been asking users to submit a screenshot of their wallet, or conduct a “Satoshi Test,” whereby a specific amount of coins is sent to a verified wallet to confirm their receipt. Another way is manual signing in using a private key, Betschart said. AOPP streamlines and automates that manual signing process, he added. Source
Crypto tax software developer CoinTracker raised $100 million from venture backers, entering growth mode just as the 2022 tax season is gearing up. Now valued at $1.3 billion, 40-person CoinTracker – which last raised $1.5 million in a 2018 seed round – plans to scale its global tech support and integrate with a universe of crypto companies, CEO Jon Lerner said. It’s also bulking up on high-ranking talent, sniping Uber’s Vice President of Engineering Gaurav Garg as the new head of engineering, and Zack Reneau-Wedeen, Robinhood Crypto’s head of product,…
Bitcoin (BTC) investors are famous for their ability to “hodl” through price dips, but new data sheds light on how long they may be prepared to continue. In a tweet on Jan. 16, on-chain analytics firm Glassnode noted that holder behavior currently mimics how Bitcoin behaves during the least extreme part of its price cycles. Reserve Risk: Bitcoin price ‘depressed,’ hodlers hodl on Referring to its Reserve Risk (“R-Risk”) metric, Glassnode argued that current buying and selling trends are not those of a macro top or bottom. “Low values of…
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“It’s pretty aggressive growth, and we have a lot of clients from very different use cases and domains, from traditional financial institutions to leading hedge funds, exchanges, neo banks, gaming companies, payment providers and so on,” Fireblocks CEO Michael Shaulov said in an interview. “So we are putting a lot of investment into our client support functions across the board to catch up and to provide all those people the service that they need.” Source
In a new twist of the Russian crypto regulation saga, the country’s Ministry of Finance has come forward with an initiative that stands in stark contrast with the central bank’s hardline position. The Central Bank of Russia recently called for a ban on crypto trading and mining activities throughout the country. Citing volatility, environmental impact and use in illegal activities, the central bank published a report calling regulators to implement a total ban and impose strict sanctions on violators. However, the proposal received opposition from the Russian Ministry of Finance.…
Shares of Coinbase have fallen around 45% after reporting earnings alongside a similar-sized fall in crypto’s total market cap, due to expectations of higher interest rates and the sell-off in “longer duration, high growth related assets,” Goldman Sachs said in a research note published on Wednesday. Source
“There was a lot of excitement for crypto in Brazil,” Reinsberg said. “But, specifically in the Celo community, we have seen a lot of teams built on Celo, integrated with Celo, using cUSD. From the outset, Brazil was obviously one of the strongest markets in terms of adoption.” Source link
Wonderland’s TIME tokens fell 32% in European hours after blockchain sleuths revealed “Sifu,” a core member of the founding team, is allegedly a long-time serial scammer, with a conviction and deportation on his record. He was also the co-founder of QuadrigaCX, a failed Canadian cryptocurrency exchange. Avalanche-based Wonderland has been among the most popular crypto protocols in recent months, with community members referring to themselves as the “Frog Nation.” The protocol locked up billions of dollars of investor funds at its peak, but confidence was rattled among investors Thursday morning.…
“Digital assets, including bitcoin, tend to become more correlated with stocks during stress periods when most of the investment markets go risk-off,” said Mikkel Morch, director at crypto hedge fund ARK36, in a note to CoinDesk. “Unsurprisingly, then, the crypto markets moved almost in tandem with the stock market following Fed’s Chair Jerome Powell’s press conference in the aftermath of this month’s FOMC meeting.” The Federal Open Market Committee (FOMC) meets eight times a year to discuss monetary policy changes and review economic and financial conditions. Original