Tag: Report

Russia Abandons Plans for State-Run Crypto Exchange, Puts Focus on Regulating Centralized Platforms: Report

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Russia is reportedly giving up on plans to launch a state-owned crypto exchange and is instead expected to regulate private ones. According to a new Izvestia report, Russia’s Ministry of Finance rejected the idea of establishing a national crypto exchange, after the idea was discussed late last year. Says Ivan Chebeskov, director of the financial policy department of the Ministry of Finance of the Russian Federation, “The Ministry of Finance did not support the establishment of one national crypto-exchange, rather there was an idea to legally regulate the possibility of…

CNHC stablecoin issuer detained by Chinese police: Report

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The Chinese government continues to crack down on the cryptocurrency industry with a new investigation targeting a major Chinese yuan stablecoin issuer. Employees of Trust Reserve — the issuer of the Chinese yuan-pegged stablecoin CNH Coin (CNHC) — have been detained by Chinese police, the local blockchain publication PANews reported on May 31. According to the report, Trust Reserve employees have been out of reach since the afternoon of May 29 due to multiple arrests. Some employees’ family members have reportedly been notified about the detentions. PANews also learned that…

Binance considers allowing traders to secure collateral at banks: Report

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Cryptocurrency exchange Binance is reportedly exploring a potential solution to reduce counterparty risk by allowing some of its institutional clients to keep their trading collateral at a bank instead of on the crypto platform, according to Bloomberg.  Binance is discussing a proposal to let some customers keep their collateral for margin trading in a bank account, which could reduce counterparty risk https://t.co/IGnLqASBuA — Bloomberg Crypto (@crypto) May 30, 2023 This move comes in response to demands from institutional digital-asset traders for increased security measures following the collapse of FTX late…

Biden strikes ‘tentative’ U.S. debt ceiling deal: Report

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The United States president Joe Biden and Republican Kevin McCarthy have reportedly reached a “tentative” agreement to raise the federal government’s $31.4 trillion debt ceiling. According to a May 28 Reuters report, which cited two sources familiar with the negiotations, Biden and McCarthy engaged in a 90-minute phone call on May 27, which resulted in reaching “a tentative deal” to raise the U.S. debt ceiling, in an effort to avoid a default. “The White House and negotiators for House Republicans have reached an agreement in principle to avert a debt…

Top metaverse property investments suffer massive losses: Report

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Prices of virtual lands on some of the top metaverses have declined significantly from their peak prices of 2022, with most depreciating around 90% in value. A study published by CoinGecko shows that popular metaverse properties, such as Otherdeeds, The Sandbox, Decentraland, Somnium and Voxels, have all depreciated in value during the period studied, from January 1, 2022, to May 24, 2023. Metaverse land prices comparison. Source: CoinGecko As shown above, the most expensive property at the time, Otherdeeds by Otherside, which once sold properties for 5 Ether (ETH), is…

Former Director of Listing of Crypto Exchange Coinone Acknowledges South Korea Bribery Charges: Report

“Mr Jeon,” Coinone’s former director of listing, was accused of receiving nearly 2 billion won ($1.51 million) in return for listing virtual assets such as “Furiever Coin,” which was listed exclusively on the exchange, and has since been linked to a kidnapping and murder investigation in the Gangnam district in Seoul. Jeon’s broker, known as “Mr Ko,” is accused of facilitating the listings. Source

Short-term bitcoin holders dumping coins at a loss, report reveals

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Glassnode, a blockchain analytics firm, has released a new on-chain report indicating short-term bitcoin holders are increasingly offloading their coins on exchanges at a loss, while long-term holders remain in profit.  In the ever-evolving world of cryptocurrency, understanding market dynamics and investor behavior is key to making informed decisions. Glassnode’s latest report, which delves into the profit/loss ratio of bitcoin deposit volume to exchanges, offers interesting insights into the current state of the market. The report…