Tag: Report

Crypto custody market reached $448 billion in 2022: Report

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The digital asset industry reached over $3 trillion at its peak in November 2021. The custodial part of the market, however, remained at the more modest mark of $447.9 billion in 2022.  These numbers are cited from a joint report on the state of digital asset custody, conducted by the consulting firm PricewaterhouseCoopers (PwC) and wealth tech platform Aspen Digital. The 39-page document was published on July 11. The report puts the number of custody service providers at 120 as of April 2023, dividing them into two broad categories —…

Parliamentary report recommends Canada recognize, strategize blockchain industry

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A Canadian House of Commons committee report has recommended that the country “recognize blockchain as an emerging industry,” and take all the steps that entails. There are a lot of steps needed, it said. The report was released by the Canadian House of Commons Standing Committee on Industry and Technology after a study that involved five meetings and numerous witnesses and briefs. The report outlined uses of blockchain that included cryptocurrency, supply chain and public sector uses and non-crypto financial innovations. “Canada punches above its weight,” in blockchain innovation and…

Gaming gear maker Razer hacked, user data, encryption keys for sale online: Report

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A post appeared on a hackers’ forum on July 8 offering information allegedly hacked from gaming hardware maker Razer.  “I have stolen the source code, encryption keys, database, backend access logins etc,” the hacker declared. The Straits Times said it saw a sample of users’ email addresses on offer that the hacker claimed was from a list that contained a total of 404,000 entries. The hacker said they “will be selling this one time” and set a price of $100,000 in privacy coin Monero (XRM), although they would consider lower…

Legal proceedings start for Terraform Labs co-founder in South Korea: Report

Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, has reportedly had his first hearing for charges related to allegedly illicit profits from the sale of Terra (LUNA). According to a July 10 report from News1 Korea, a trial preparation hearing for Shin and 7 alleged accomplices began in a Seoul Southern District Court following his indictment in April. Prosecutors have reportedly said they deceived investors and manipulated the price of certain tokens through media coverage and transactions starting in 2018, resulting in “unfair profits” of roughly 462.9 billion…

Canada’s court deem 👍 emoji valid as a contract agreement: Report

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A Canadian judge has ruled that the widely used thumbs-up emoji can affirm that a person is legally entering into a contract.  According to a report from the New York Times, judge T.J. Keene said the decision mirrors a “new reality in Canadian society” as more people use emojis to express themselves in all sorts of situations, including business dealings. The case sought to determine whether a farmer had agreed to sell tons of flax to a grain buyer in 2021. As per the report, the buyer sent the purchase…

XRPL grows in Q2 despite SEC lawsuit concerns: Report

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Despite lingering concerns over the Ripple vs. SEC lawsuit, The XRP Ledger (XRPL) has demonstrated significant growth in multiple areas of its protocol during the second quarter of 2023, according to a recent report from crypto analytics platform Messari. The report shows that the circulating market cap of XRP (XRP) has increased by 42.5% year-to-date. The growth was driven by the asset’s price surge in the first quarter; however, in Q2, the market cap declined by 10.7%, from $27.8 billion to $24.8 billion. Although the XRP network experienced a decline in transaction…

$30B stolen from crypto ecosystem since 2012: Report

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From 2012 to the present, over $30 billion in crypto has been hacked in 1,101 documented incidents, a July 7 report from SlowMist has revealed. According to the blockchain security firm, the top five most common hacks are smart contract vulnerabilities, rug pulls, flash loan attacks, scams and private key leaks. The losses represent roughly 2.5% of the current market capitalization of cryptocurrencies. Out of total incidents, there were 118 exchange hacks, 217 Ethereum ecosystem hacks, 162 BNB Smart Chain ecosystem hacks, 119 EOS ecosystem hacks and 85 hacks related…

How the spot Bitcoin ETF filings affected the crypto industry in June: Report

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The news surrounding BlackRock’s application for a spot Bitcoin (BTC) exchange-traded fund (EFT) sent the asset’s price from its local lows in mid-June to a strong monthly close of +12%. To most observers, this was a sign that institutional investment into the cryptosphere is once again on the horizon. A future approval of a spot ETF combined with rate cuts from the United States Federal Reserve could provide the ideal catalysts for the next bull run. For those keen to gain a deeper understanding of the crypto space’s various sectors…

BTC Retakes $30K, Asian Stocks Drop to 5-Week Low Ahead of U.S. Nonfarm Payrolls (NFP) Report

The leading cryptocurrency by market value rose almost 1% to touch $30,300, reversing some of Thursday’s slide. The MSCI’s broadest index of Asia-Pacific shares, excluding Japan, extended the prior session’s weakness to drop to a five-week low, while U.S. stocks registered notable losses after a blowout ADP private-sector employment report for June raised concerns of higher interest rates. Source

FBI searched Kraken co-founder’s home in March: Report

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The United States Federal Bureau of Investigations (FBI) reportedly searched the home of Kraken co-founder Jesse Powell in March as part of an investigation into claims he hacked and cyber-stalked a nonprofit arts group. It is claimed that Powell interfered with computer accounts by blocking access to emails and other messages from contributors of Verge Center for the Arts — the non-profit Powell founded, according to a July 6 report from The New York Times, citing three people with knowledge on that matter. The F.B.I. searched the home of the…