Tag: Report

Indian Supreme Court raps Union government on crypto rules delay: Report

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The Indian Supreme Court on July 27 reprimanded the Union government for the lack of crypto regulations in the country, according to a report in a local media outlet.  The Supreme Court in its observation noted that it is “unfortunate” that the government has yet to release any clear guidelines around cryptocurrencies. The observation from the court came amid growing instances of criminal activities involving cryptocurrencies and directed the Union government to bring on record whether it plans to set up any dedicated federal agency to investigate such crypto criminal…

Here’s how big food and beverage brands are using NFTs: Report

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Nonfungible tokens (NFT) adoption is picking up steam across the food and beverage industry, with many fast-food chains displaying interest in this new asset class.  A report by ResearchAndMarkets.com states that the global food & beverage NFT market size is expected to reach USD 2,134.04 Million by 2032. These statistics have been evident as recently, Global fast-food brands, including Pizza Hut and Papa John’s, are discovering new ways to integrate NFTs into their marketing strategies.  The report states that the key supporting factors for the market are the adoption of blockchain…

Hydropowered crypto mining gets nod from Kyrgyz president: Report

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The Kyrgyz Republic, a central Asian state bordering China, is reportedly growing its cryptocurrency mining powers with support of the local government. Kyrgyz President Sadyr Japarov has given a nod to building a crypto mining farm at a hydroelectric power plant, Kyrgyzstan’s national news agency Kabar reported on July 27. The government of Kyrgyzstan plans to spend up to $20 million to build a cryptocurrency mining facility at the Kambar-Ata-2 Hydro Power Plant. According to the president, running a crypto mining farm will allow the government to avoid energy losses…

Crypto mining hardware retailer Phoenix Technology mulls IPO in UAE: Report

Crypto mining hardware provider Phoenix Technology is reportedly starting discussions to conduct an initial public offering (IPO) in the United Arab Emirates, according to a report by Bloomber.  The Bloomberg report cites anonymous sources who explained that discussions around the matter are still ongoing and the details are not yet finalized. Phoenix Technology is a UAE-based mining operator which is developing one of the largest mining facilities within the Middle East. The company has distribution rights for various tech hardware manufacturers throughout the Middle East, Africa and Turkey.  Cointelegraph reached out to Phoenix…

SEC Implements Rule Requiring Companies, Including Crypto Firms, to Report Cybersecurity Breaches

Most listed companies already include cybersecurity risks in their investor documents, but, until now, the SEC did not mandate any disclosures from them. Public companies and foreign private issuers must also must describe how their board oversees cybersecurity risks and detail “management’s role and expertise in assessing and managing material risks from cybersecurity threats.” Source

Sequoia slashes its crypto fund by 66% after industry collapses: Report

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Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players. According to a July 27 Wall Street Journal report, the tech-focused VC firm told investors in March it would reduce its Sequoia Crypto Fund — along with its ecosystem fund — to better reflect changed market conditions. Sequoia Capital curbed crypto investments by a hefty 65% , opting for a nurturing stance on startups. Not a volatile market apathy, but strategic cognition,…

Digital marketing will become Web3’s next major use case, says report

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The Web3 ecosystem could become the next golden opportunity for digital marketers, with almost 200 companies already “thinking deeply” about how to utilize the Web3 tech stack. On July 25, Web3 marketing analytics firm Safary released a comprehensive report titled The Web3 Growth Landscape 2023. It noted that the 2010s were the “golden age of digital marketing” with Web2 growth seeing 150 marketing companies in 2011 increase to 11,000 in 2023. However, over the last three years, the digital marketing landscape has to a more privacy-centric environment. Therefore, marketers may…

Judge warns Sam Bankman-Fried to ‘take it seriously’ as prosecutors push to revoke bail: Report

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A federal judge overseeing the criminal case against Sam Bankman-Fried, also known as “SBF,” will reportedly consider revoking the former FTX CEO’s $250 million bail based on allegations of intimidation against Caroline Ellison.  In a July 26 hearing in United States District Court for the Southern District of New York, individuals on site reported Assistant U.S. Attorney Danielle Sassoon requested the revocation of SBF’s bail based on allegations he used his freedom to intimidate Ellison, his former romantic partner and colleague. According to Sassoon, SBF made roughly 100 calls to a…

Judge suggests IRS issued $4K refund over tax lawsuit based on quality of lawyers: Report

Oral arguments began on July 26 for an appeals case on a complaint a Tennessee couple filed against the United States Internal Revenue Service (IRS) on calculating their taxes based on earnings from staking tokens.  Joshua and Jessica Jarrett received a refund check from the IRS in 2021 after filing a lawsuit arguing the IRS had no right to tax income or profit from staked Tezos (XTZ), as the tokens were “created” and not sold. The couple originally reported the staked crypto as “other income” on their 2019 tax returns,…

Meta Platforms fined $14 million for Onavo privacy issues: Report

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An Australian court has reportedly ordered Meta Platforms, the owner of Facebook, to pay fines amounting to 20 million Australian dollars ($14 million) for collecting user data through a smartphone application, Onavo.  According to a Reuters report, the Federal Court of Australia has directed Meta, along with its subsidiaries Facebook Israel and the discontinued app, to reimburse $270,356 (A$400,000) in legal costs to the Australian Competition and Consumer Commission (ACCC). The ACCC initiated the civil lawsuit against Meta, alleging that Onavo was promoted as a privacy protection tool, but failed…