Month: January 2023

Belgian MP receives Bitcoin salary for a year: Here’s what he learned

boss

At the end of January 2022, member of the Belgian parliament Christophe De Beukelaer became the first European politician to convert his salary to Bitcoin (BTC). Celebrating the anniversary of this experiment, Cointelegraph reached out to a lawmaker to know more about his experience.  Back in 2022, Beukelaer, who represents Humanist Democratic Centre (CDH) party, cited the example of New York City Mayor Eric Adams and how American politicians are working to make their native states or cities Bitcoin hubs to justify his decision. The Brussels MP’s monthly salary of…

Crypto layoffs mount as exchanges continue to be ravaged by the prevailing bear market.

boss

There’s no denying that the crypto market has been gripped by immense bearish pressure over the past year, as made evident by the fact that the total capitalization of this sector has continued to hover below the $900 billion mark for most of the year after having scaled up to an all-time high of $3 trillion in 2021. These conditions have been characterized by many companies facing insolvency, as well as many of the world’s top exchanges laying off their staff in recent months. Moreover, the recent FTX debacle has…

US DOJ announces seizure of 55M Robinhood shares

boss

The United States Department of Justice has officially notified the court handling the bankruptcy of BlockFi that it has seized assets as part of the criminal cases against crypto exchange FTX and its executives. In a Jan. 6 court filing, the Justice Department said it had seized 55,273,469 shares of Robinhood to which former FTX CEO Sam Bankman-Fried, BlockFi, and FTX creditor Yonathan Ben Shimon had previously made claims — the stock was worth more than $450 million at the time of publication. The DOJ noted it had also taken…

Rolls-Royce 2022 Sales Surge to 118-Year Record High

Sales of Rolls-Royce luxury cars for 2022 surpassed 6,000 units, trumping 2021’s commendable feat of 5,586.  Rolls-Royce recently revealed record annual sales and a strong order book spearheaded by buyers from the Middle East in 2022. According to the luxury automobile maker, it sold 6,021 cars last year for the first time in its 118-year history. This remarkable feat also represents a sizable 8% rise in sales volume from the 5,586 vehicles sold in 2021. It is worth noting that 2021 was also a record year for Rolls-Royce in terms of sales…

Cosmos (ATOM) Jumps Over 12% In One Day As Market Recovers

boss

Cosmos traded in a highly volatile crypto market in 2022, but 2023 is showing signs of recovery. CoinMarketCap shows that the global crypto market cap has increased in 24 hours. The trading volume of cryptocurrencies in the market has also increased within 24 hours. This data proves that there is still much global interest in cryptocurrencies. According to a poll conducted on Twitter, 53.8 % of participants see the early part of 2023 to be bullish. In contrast, 46.2% predict a bearish market trend for early 2023. However, Twitter user Neon…

CoinDesk Research’s 2022 Annual Crypto Review

And of course, any discussion of crypto in 2022 would be incomplete without discussing our first proper Crypto Credit Crisis, which began with a glut of crypto lenders promising yield to customers in exchange for deposits and culminated with the arrest in the Bahamas and extradition to the U.S. of FTX and Alameda Research founder Sam Bankman-Fried (SBF). It was years in the making and it’s hardly the first credit crisis in financial history, but this one is definitively crypto’s. Source

New York-based bank exits crypto after tumultuous year

The last year proved to be another turbulent year for the crypto industry. From a lasting market downturn and exploits in decentralized finance (DeFi) to the FTX scandal, no area was left unscathed. For some, the happenings in the space proved unsustainable for business. The Metropolitan Bank Holding Corp, the holding company for New York-based Metropolitan Commercial Bank (MCB), announced it is completely exiting its crypto-assets vertical. In its statement, the corporation said its decision “reflects recent developments in the crypto-asset industry,” along with changes in the regulatory landscape in…

Former FTX US Boss Promises to Share Insight on Exchange’s Operations

The former FTX boss said he will share details about what he knows of the exchange “in time”. Brett Harrison, the former President of the United States offshoot of the now-bankrupt FTX Derivatives Exchange has promised to share additional details about the operations of the trading platform. Harrison revealed this via his Twitter handle in response to a user’s comment on his earlier tweet. Harrison earlier demanded to know why tech startups around today do not do what American retail giant, Amazon.com Inc (NASDAQ: AMZN) did by going public in…