Day: March 9, 2023

Former Jane Street, PIMCO traders raise $15M for ZK proof-of-solvency protocol

boss

A team of former Jane Street and PIMCO traders have raised $15 million to produce a proof-of-solvency protocol for centralized exchanges, stablecoin issuers and other asset managers in the crypto space, according to a press release from the team shown to Cointelegraph. Called “Proven,” the new protocol allegedly uses zero-knowledge proofs to reveal an institution’s assets and liabilities without revealing the personal data of customers. According to the press release, the Proven team consists of quantitative traders, portfolio managers, and researchers from Wall Street firms Two Sigma, Elm Partners, Pimco,…

Silvergate Shutters in Latest Blow to Crypto

The collapse of Silvergate Bank is dragging down bitcoin volume. CryptoQuant data shows that transfer volume, denominated in BTC, is down 35% over the last 24 hours. At the same time, the total number of transactions on the Bitcoin blockchain has dropped by 17%, and the number of active addresses has fallen by 10%. So far in March, daily bitcoin trading volume has averaged $25 billion, according to data from CoinGecko, versus $36 billion in February. “Coupled with the drop in the price of bitcoin, we have seen a noticeable…

Gate.io Launches Visa Crypto Debit Card in Europe amid Mainstream Crypto Adoption

The parent company of Gate.io has partnered with electronic payment facilitator Visa to introduce a crypto card to users in Europe.  Crypto exchange Gate.io is launching a crypto debit card, in conjunction with payment processing giant Visa (NYSE: V), for European users. According to reports, Gate.io’s parent company Gate Group plans to launch the Gate Visa crypto debit card via Gate Global UAB, a Lithuania-based entity of Gate.io Group that provides virtual asset services to clients. By launching a crypto debit card, Gate Group follows in the footsteps of other…

Credit Suisse Postpones Its Annual Report

The management of the company, in a statement, said that it will be wise to postpone the publication for a short period of time to examine and understand more completely the comments received. Credit Suisse recently announced that it is planning to postpone the emergence of its annual 2022 report following a late call from the US Securities and Exchange Commission (SEC) on Wednesday night. In a public announcement from the perturbed investment banking company, it was claimed that the conversation with SEC revolved around the technical examination of previously…

Shares of Grayscale Bitcoin Trust Form Bullish Chart Pattern: Technical Analyst

“If judges turn more favorable, then there is the chance that GBTC Trust shares can be converted into an ETF. In that case, the discount in GBTC shares relative to the fund’s net asset value could be quickly arbitraged away, and that’s why GBTC shares are rallying now,” Markus Thielen, head of research and strategy at crypto services provider Matrixport, noting the bullish pattern on the technical chart. Source

India’s Crypto Regulation Now Has Teeth, Experts Say

The Bharat Web3 Association, the body representing the crypto industry, said it had asked the Ministry of Finance for this step, and the move was welcomed by industry leaders, including Ashish Singhal, co-founder of of crypto exchange CoinSwitch Kuber, Sumit Gupta co-founder of its rival CoinDCX, who both tweeted their support. Source

India’s Crypto Regulation Now Has Teeth, Experts Say

CryptoX – Cryptocurrency Analysis and News Portal The Bharat Web3 Association, the body representing the crypto industry, said it had asked the Ministry of Finance for this step, and the move was welcomed by industry leaders, including Ashish Singhal, co-founder of of crypto exchange CoinSwitch Kuber, Sumit Gupta co-founder of its rival CoinDCX, who both tweeted their support. Source The post India’s Crypto Regulation Now Has Teeth, Experts Say appeared first on CryptoX. CryptoX Portal

Hong Kong Residents Lost More Than $216 Million to Crypto Scams in 2022 – Regulation Bitcoin News

boss

According to Hong Kong police, in 2022 there were 2,336 reported crypto scam-related cases in which more than $216.6 million was lost. Although losses relating to crypto scams only constituted just over 10% of the nearly 23,000 reported technology crimes, they still accounted for more than half of the $407.7 million that was lost to online fraudsters. Crypto-Related Scams Constitute Just Over 10% of Reported Technology Crimes Hong Kong residents reportedly incurred cryptocurrency-related scam losses totaling $216.6 million (HK$1.7 billion), just over half of the $407.7 million that was lost…