Tag: Report

Bitcoin Buckles Day Before U.S. Jobs Report

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Bitcoin is showing signs of weakness ahead of a long Easter weekend in many countries and the release of the U.S. jobs report for March on Friday. The world’s largest cryptocurrency by market value dropped 2% in the past 24 hours to below $27,800, after reaching as high as $28,800 earlier this week. U.S. stock markets will be closed on Friday for Good Friday. Bitcoin, of course, always trades. It is estimated that U.S. employers added 238,000 jobs in March, with the unemployment rate set to hold steady at 3.6%,…

Chinese state insurance firm launches two crypto funds in Hong Kong: Report

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The Chinese government appears to be more bullish on the cryptocurrency industry than one might think, as a major state company is reportedly launching new cryptocurrency funds. CPIC Investment Management, a subsidiary of China Pacific Insurance (CPI), is launching two crypto funds in partnership with the investment firm Waterdrip Capital, the local tech-focused news agency 36Kr reported on April 3. Owned by the central government of China, the Shanghai municipal government and China Securities Finance, CPI is the second largest property insurance company in mainland China after the People’s Insurance…

Jane Street, Tower Research and Radix are Binance’s ‘VIP’ clients in CFTC suit: Report

Trading firms Jane Street Group, Tower Research Capital and Radix Trading have been reportedly identified as Binance’s three “VIP” clients that were cited anonymously in the recent lawsuit filed against Binance by the United States commodities regulator. According to an April 5 Bloomberg report citing “people familiar with the matter,” Radix Trading is “Trading Firm A” as described in the Commodities Futures Trading Commission’s (CFTC) suit while Jane Street was “Trading Firm B” and Tower Research was “Trading Firm C.” The firms on the CFTC’s list were examples of U.S.…

Jane Street, Tower Research and Radix are Binance’s ‘VIP’ clients in CFTC suit: Report

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Trading firms Jane Street Group, Tower Research Capital and Radix Trading have been reportedly identified as Binance’s three “VIP” clients that were anonymously cited in the recent lawsuit filed against Binance by the United States commodities regulator. According to an April 5 Bloomberg report citing “people familiar with the matter,” Radix Trading is “Trading Firm A” as described in the Commodities Futures Trading Commission’s (CFTC) suit, while Jane Street was “Trading Firm B” and Tower Research was “Trading Firm C.” The firms on the CFTC’s list were examples of U.S. clients…

Dubai regulator demands Binance provide info on ownership, governance: Report

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The Virtual Assets Regulatory Authority (VARA), the entity that oversees crypto activities in Dubai, has asked Binance to provide more information about its business requirements in its efforts to tighten regulatory guardrails in the emirate, Bloomberg reported. Citing three anonymous sources, Bloomberg reported on April 5 that the regulator had asked Binance to submit more information about the exchange’s ownership structure, governance and auditing processes. The people close to the matter said VARA has requested the same details from global crypto players looking to be licensed in Dubai. VARA officials have…

Stablecoin issuer Tether accessed US banking system using Signature: Report

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Tether, the firm behind the largest stablecoin by market capitalization, reportedly allowed its clients to send funds through Signature Bank’s payments platform — granting the firm access to United States banks. According to an April 4 Bloomberg report, Tether had a pathway to the U.S. banking system by instructing its users to send dollars though Signature’s Signet to its Bahamian partner Capital Union Bank. The report cited “people with knowledge of the situation,” who added this system was in place at the time regulators took control of Signature in March.…

Is Dogecoin coming to Twitter? Watch The Market Report

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This week on The Market Report, Cointelegraph analyst and writer Marcel Pechman breaks down everything that has been happening between Twitter, Elon Musk and Dogecoin (DOGE). He also covers the Changpeng “CZ” Zhao arrest rumors and Japanese crackdowns on crypto exchanges. Bitcoin price bounces after CZ arrest rumors as traders eye $30K next Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $27,240 on Bitstamp. Its lowest since March 28, the performance followed an outbreak of claims that Binance CEO Changpeng “CZ” Zhao, already under investigation by United…

US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States  – Economics Bitcoin News

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After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world by announcing cuts to oil production, a spokesperson for U.S. president Biden’s National Security Council stated that reducing production is not advisable. According to a recent report, Saudi Arabia’s crown prince Mohammed bin Salman has told associates that Riyadh is no longer interested in pleasing the United States. The Growing Shift Away from U.S. Dollar Hegemony in Global Trade and Finance There has been a lot of focus on OPEC members and the…

Binance’s market share drops on CFTC suit and no-fee trading halt: Report

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The dominance of cryptocurrency exchange Binance in trading volume market share has slipped over the past two weeks following a lawsuit from the United States commodities regulator and its decision to halt some zero-fee trading. In an April 4 newsletter blockchain analytics platform Kaiko reported Binance “lost 16% market share of trade volume,” with its market share at 54% as of the end of Q1. The U.S. Commodity Futures Trading Commission (CFTC) sued Binance on March 27 alleging it flouted regulatory compliance through violations of derivatives laws by offering trading…

South Korean authorities seize $160M in assets tied to Terra employees: Report

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The Seoul Southern District Prosecutor’s Office has reportedly confiscated roughly $160 million worth of assets from eight people connected to the collapse of Terraform Labs, including co-founder Daniel Shin. According to an April 3 report from South Korean news outlet KBS, authorities seized roughly 210 billion won — $160 million at the time of publication — worth of property connected to former Terra employees, mainly in the form of real estate. Prosecutors reportedly took control of houses and properties owned by former Terra vice president Kim Mo and an unnamed…