Tag: Report

White House report takes aim at Bybit — and forgot about Deribit

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The White House released its annual economic report on March 20, and it dedicated an entire section to digital assets.  The authors should be commended for doing so. I largely agree with the report’s assessment that certain aspects of the digital asset ecosystem are causing problems for consumers, financial systems and the environment. However, as a builder in the digital asset space, I cannot disagree more with its conclusion that “crypto assets currently do not offer widespread economic benefits.” To understand how the White House plans to regulate digital assets,…

Animoca Brands cuts metaverse fund target to $800M: Report

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Hong Kong-based Animoca Brands, a developer of blockchain gaming technology, has reportedly cut its target for its metaverse fund by a further 20% to $800 million, Reuters reported citing sources familiar with the matter. The blockchain gaming technology company reportedly scaled back on its billion-dollar goal due to volatility in the crypto sector. The company had previously announced in November 2022 that it was working on a new Animoca Capital fund with a target of $2 billion but then halved that target to $1 billion in January 2023.  In recent developments,…

Venture capitalists bail on Zipmex bailout, company warns of consequences: Report

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Cryptocurrency exchange Zipmex has reportedly not received the latest payment under its buyout agreement with venture capital firm V Venture. The exchange has sent a letter to the firm warning that it will have to begin liquidating one of its units without that money. The $1.25 million payment was intended to provide working capital for the Singapore-based exchange and was due March 23, according to a Bloomberg report. Zipmex said in a letter to V Venture that, without the cash infusion, it would have to begin liquidating its Zipmex Technology…

Nasdaq to launch crypto custody services by end of Q2: Report

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Global securities marketplace Nasdaq Inc. is gearing up to launch its custody services for digital assets by the end of the second quarter of this year, according to Bloomberg. Nasdaq expects to launch crypto safekeeping services this year, joining a growing pool of traditional finance firms moving into the sector after a spate of bankruptcies https://t.co/Jz8TuFARcs — Bloomberg (@business) March 24, 2023 As reported by Bloomberg, the exchange group has applied for a limited-purpose trust company charter from the New York Department of Financial Services, which would oversee the new…

Block Shares Plunge 14% After Hindenburg Research’s Report

Block said it is working with the SEC on how to “explore legal action against Hindenburg Research for the factually inaccurate and misleading report”. American multinational financial technology giant Block Inc (NYSE: SQ) is currently under intense pressure following a damning report from short seller, Hindenburg Research. According to the report, Hindenburg Research accused Block of running a fraudulent operation that takes advantage of the demographics it claims to serve, the unbanked. Known for such reports, Hindenburg said its investigation into Block Inc was conducted over the span of two…

Jack Dorsey’s Block Tumbles 17% After Short-Seller Hindenburg’s Report

Hindenburg continued: “Our research indicates, however, that Block has wildly overstated its genuine user counts and has understated its customer acquisition costs. Former employees estimated that 40%-75% of accounts they reviewed were fake, involved in fraud, or were additional accounts tied to a single individual.” Source BlockDorseysHindenburgsJackReportShortSellerTumbles CryptoX Portal

Crypto Platform Ziglu Courting Buyers After Robinhood Deal Collapses: Report

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