Coinbase Stock Climbs 12% Following NYDFS $100M Settlement

Major exchange Coinbase saw its stock rise markedly after it announced a settlement with a state financial services regulator.  Coinbase Global Inc (NASDAQ: COIN) stock jumped 12% Wednesday on news that it had reached a settlement with a New York regulator. According to reports, the leading American crypto exchange agreed to pay $100 million to the New York Department of Financial Services. 50% of this settlement constitutes the fine, while Coinbase will invest the remaining $50 million into strengthening its compliance programs. Coinbase stock was trading at $37.34 per share following…

Hong Kong lawmaker wants to turn CBDC into stablecoin featuring DeFi

Hong Kong authorities are looking for new designs for a central bank digital currency (CBDC), now proposing to issue a CBDC in the form of a stablecoin backed by the government. Wu Jiezhuang, a member of the Legislative Council of the Hong Kong Special Administrative Region, believes that turning the Hong Kong digital dollar (e-HKD) into a stablecoin would provide benefits for the adoption of new technologies like Web3. The option of developing e-HKD into a stablecoin has the potential to address the risks associated with virtual assets in Web3…

Germany’s 2022 Inflation Rate the Worst in More Than 30 Years – Bitcoin News

In a year that was characterized by surging energy and food prices, Germany’s average inflation rate in 2022 rose to 7.9% up from the 3.1% seen in 2021. Russia’s invasion of Ukraine, as well as the supply bottlenecks resulting from the war, are said to be among the factors that helped to drive up prices. Impact of the Ukraine-Russia War In 2022, Germany’s average inflation rate topped 7.9%, its highest since the 1990 reunification, the country’s statistical office has said. As per the German press agency’s Jan. 3 report, the…

Animoca Brands Cuts Web3 Fundraising Projection by 50%

Animoca Brands was impacted by the FTX collapse as about a dozen of its outfits had significant exposure to the bankrupt firm. Animoca Brands, one of the biggest metaverse firms and investors in today’s Web3 ecosystem might be tapering down its projected fundraising expectations billed for the first quarter of this year. Speaking in a Twitter Spaces interview with Bloomberg on Thursday, Yat Siu, co-founder, and chairman of Animoca Brands said the company is now looking to raise the sum of $1 billion from investors. Projecting fundraising targets has always…