Tag: Report

OKX’s monthly reserves report shows over $11.3b in crypto holdings

Crypto exchange OKX, a well-known exchange, has published its eighth consecutive monthly report on proof-of-reserves (PoR). The report reveals the balances of BTC, ETH, and USDT held by OKX, totaling a significant amount of $11.3 billion. According to the report, OKX has maintained a reserve ratio of over 100% for eight months. The PoR report includes various assets such as USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, and UNI, in addition to BTC, ETH, and USDT. BTC, ETH, and…

More institutions will soon embrace bitcoin, report says

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The crypto industry has witnessed a massive bear storm over the past 18 months as high inflation threats finances. Despite the red market conditions, a recent report by CryptoQuant suggests that Bitcoin’s (BTC) institutional adoption is on the rise. For instance, top fintech companies have accumulated significant BTC amounts over the past three years. According to the report, Microstrategy’s bitcoin purchases are worth almost $4 billion, while the BTC price is still down by 55% from…

Israel has Seized Millions in Crypto From Iranian Military and Hezbollah: Report

“This is the first incident of this magnitude,” the report said, quoting Gallant. “We have effectively cut off the flow of terror funds via this channel.” He also alleged that Iran’s military and Hezbollah relied on virtual currency to finance their militant activities, according to the report. Source CryptoHezbollahIranianIsraelMilitaryMillionsReportSeized CryptoX Portal

FTX suspends $500M sale of stake in AI firm Anthropic: Report

The sale of FTX’s $500 million stake in artificial intelligence startup Anthropic has reportedly been put on hold, adding a potential delay to the bankrupt crypto exchange’s efforts to fill a $2 billion remaining hole in its balance sheet. On June 27, Bloomberg reported — citing people familiar with the matter — FTX’s advisory investment bank Parella Weinberg Partners paused the sale of FTX’s Anthropic stake this month, despite multiple parties being interested in buying up FTX’s stake. A sale of the stake would be a significant monetary recovery for…

Over $204M was lost in Q2 DeFi hacks and scams: Report

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Over $204 million was lost in decentralized finance (DeFi) hacks and scams in the second quarter of 2023, according to a June 27 report from Web3 portfolio app De.Fi. The report, titled “Q2 De.Fi Rekt Report,” was partially based on data from De.Fi’s “Rekt Database.” Over $208.5 million was initially lost during the quarter, but $4.5 million was recovered through prosecutions, deals with hackers and other recovery methods. Funds lost and recovered in Q2 2023. Source: De.Fi According to the report, the number of DeFi hacks in Q2 rose by…

Web3 firms are spending up to $25M on HK crypto licenses: Report

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According to a June 27 report by local news outlet Foresight News, Web3 firms in Hong Kong are spending anywhere between 20 million and 200 million Hong Kong dollars ($2.55 million and $25.5 million) for the acquisition of a Virtual Asset Service Provider (VASP) licenses. Sources explained: “Since traditional financial institutions have no relevant prior infrastructure, and have gone from zero to one in various aspects such as products and teams, the cost [associated with VASPs] has been very high. However, even for an experienced cryptocurrency institution, the cost of…

The Second FTX Asset Recovery Report Is Packed With Bombshells

Two notes before diving in: First, all of the following are allegations made by the FTX liquidators. The claims may or may not surface or be confirmed in the separate criminal trial against Sam Bankman-Fried, currently scheduled to begin in October. And second, for clarity, I’ll be referring throughout to “customer funds” interchangeably with “commingled funds,” because by their nature, the vast majority of commingled funds would likely have been customer funds. Source

Crypto travel rule fails to meet FATF standards, says report

The Financial Action Task Force (FATF) has issued a renewed call urging countries to adopt and implement the “Travel Rule” as a vital measure to combat money laundering and terrorism financing facilitated through cryptocurrencies. On June 23, the United Nations body responsible for promoting strategies against money laundering and terrorist financing highlighted that a significant number of member states have yet to implement the rule. Addressing anonymity A survey conducted by the Financial Action Task Force (FATF) in March 2022 has revealed concerning levels of compliance with the travel rule…