Tag: Report

Enterprises should seek partners and solutions during the crypto winter: Paxos report

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Blockchain infrastructure provider Paxos has recently published a report, that aims at helping the community look beyond the crypto winter and understand how to respond to the current market conditions.  Inside the 20 pages of the Paxos Crypto Winter Report 2023, the infrastructure provider identified several key opportunities for projects during the crypto winter. This includes seeking solutions and finding potential partnerships for their projects. Within the report, Clara Medalie, the director of research at the digital asset data provider Kaiko, said that solutions like stablecoins remain one of the…

Collapsed Exchange FTX Recovers $7,300,000,000 in Cash and Crypto Assets, Reconsiders Future: Report

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Troubled crypto exchange FTX has reportedly recovered billions of dollars worth of cash and assets as it reconsiders its future. According to a new report by Reuters, the bankrupt crypto-swapping platform has recuperated $7.3 billion in cash and liquid digital assets as the firm considers how to move forward from its catastrophic downfall last year. FTX attorney Andy Dietderich told Reuters the situation has stabilized and that the worst is over, further adding that FTX has greatly benefited from rising crypto prices in 2023. According to Dietderich, the amount recovered…

China Fines Bitmain $3.6 Million for Tax Violations, Report – Mining Bitcoin News

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Chinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto community. Bitmain Fined for Failing to Pay Income Tax on Behalf of Employees One of the world’s largest producers of devices designed for cryptocurrency mining, Bitmain, has reportedly been fined for unpaid taxes. The news was spread on social media by Chinese crypto journalist Colin Wu, also known by his Twitter handle ‘Wu Blockchain.’ Bitmain, the…

Zambia’s crypto regulation tests to be wrapped by June: Report

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Cryptocurrency regulation tests aiming to help shape crypto laws in Zambia that simulate the real-world use of crypto are on track to finish by June. In an April 12 Reuters interview, Zambia’s innovation, science and technology minister, Felix Mutati, said the purpose of conducting the tests was to help the government “see what would happen in the real world,” to assist in forming crypto regulations. Zambia’s central bank and securities regulator commenced the tests on Feb. 19, which Mutati said was looking to balance safety and innovation: “Our main goal…

Swedish Riksbank report looks at collaboration with potential e-krona in retail payments

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Sweden’s central bank Riksbank has released a report detailing the third phase of its central bank digital currency (CBDC) research. A collaborative model for retail payments and conditional payments is the focus this time. The Riksbank started its CBDC research in 2020 with collaboration with existing private payment services as an initial priority. It discussed governance as a key question for collaboration and divided options into three levels. The lowest level was a set of guidelines that risked giving participants so much freedom that “it may be difficult for the…

Ethereum traders show uncertainty ahead of today’s Shapella hardfork: Report

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The Ethereum network’s Shapella upgrade, scheduled for around 6:30 pm EST on April 12, has induced significant uncertainty among traders, according to a report by Kaiko.  The upgrade will enable staked-ETH withdrawals from the Beacon Chain for the first time since its launch in December 2020. According to previous estimates, the upgrade will add nearly 1.2 million to 3 million worth of ETH selling pressure in the first few weeks. This is one of the main reasons traders appear to be taking a cautious stance ahead of the upgrade. Kaiko’s…

BTC Consolidates Around $30,000, Ahead of US Inflation Report – Market Updates Bitcoin News

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Bitcoin consolidated around the $30,000 mark on Wednesday, as markets prepared for the release of the latest inflation report in the United States. Consumer prices in the U.S. are expected to fall to 5.2% in March, down from 6% the month prior. Ethereum also consolidated, dropping back below $1,900. Bitcoin Bitcoin (BTC) consolidated around the $30,000 mark on Wednesday, as markets anticipated the release of the upcoming inflation figures from the United States. Ahead of the report, BTC/USD fell to an intraday low of $29,865.20, which comes less than 24…

Hong Kong virtual bank to offer crypto conversions and accounts: Report

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ZA Bank, Hong Kong’s biggest virtual bank by assets, is reportedly set to provide crypto account services and facilitate crypto-to-fiat exchanges. According to an April 12 Bloomberg report, the bank will act as a settlement bank to allow token deposits at licensed exchanges to be withdrawn in Hong Kong dollars, Chinese yuan and United States dollars, and is also offering account services to crypto firms. The accounts for local crypto firms follow a trial in a regulatory sandbox that saw approximately 100 firms participate, but ZA Bank CEO Ronald Iu…