Tag: Report

Net losses from crypto theft down sharply in Q1 2023 at $322M: Report

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Crypto hackers and scammers made off with $452 million in the first quarter of 2023, according to a report released by antivirus and app provider De.Fi. But that is good and bad news, as losses were down from $1.3 billion in the first quarter of 2022. The recovery rate was down too, however. According to the report, nearly half of the losses this quarter ($215 million) took place in the first three weeks of March. The Euler Finance and Bonq DAO exploits were the quarter’s loss leaders at $196 million…

Japan plans to form expert panel to explore digital yen: Report

Japan’s Finance Ministry is planning to establish an expert panel in April to explore the feasibility of introducing a digital yen, Japanese news outlet NHK reported.  According to the report, the ministry’s panel will focus on the creation of a framework for a central bank digital currency (CBDC) and will refer to a technical study conducted by the Bank of Japan (BOJ) over the past two years. The ministry intends to use the findings from the expert panel to prepare for the possible issuance of a digital yen. CBDCs are…

Terra co-founder Do Kwon’s jail time in Montenegro will be harsh: Report

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Do Kwon, currently in custody in Montenegro and potentially awaiting extradition to the United States or South Korea, will reportedly face harsh conditions in the country’s penal system. According to a March 29 Protos report, an unnamed criminal defense lawyer said conditions at Montenegro’s jails and prisons “haven’t changed” from those described in a 2020 human rights report from the U.S. State Department. The report cited a case in which prison officers had been convicted of torturing and “inflicting grievous bodily harm” on 11 inmates in 2015, as well as…

Government requests for user data from Big Tech increased by 25%: Report

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How Big Tech companies treat user data has been controversial for some time. Meta, Apple, Google and Microsoft are often accused of collecting and selling the personal data of their users. Though, where exactly this data goes, and how much of it is given over to companies and governments, is unclear. However, a new study from Surfshark reveals requests for personal user data from global governments are on the rise. The study focused on the period from 2013 to 2021, with 2020 seeing the largest year-over-year increase of 38%, followed by a…

Revolut not happy with how fintech deals with audit red flags: Report

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Crypto-friendly fintech Revolut is reportedly having some issues related to its recently released annual report for the year ending December 2021. Revolut, a British-Lithuanian neobank that allows customers to buy and sell crypto, reported its first-ever full year of profit on March 1, 2023. The firm said it generated a revenue of 636 million British pounds ($769 million) in 2021, which was a significant surge from 220 million pounds ($266 million) in 2020. The financial report was reviewed by independent auditors from the global accounting network BDO, which confirmed that…

Japan’s Finance Ministry to Explore Digital Yen Feasibility: Report

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Sam Bankman-Fried is paying for legal defense using previously gifted funds from Alameda: Report

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Former FTX chief executive officer Sam Bankman-Fried, also known as SBF, is reportedly funding the legal team defending him against federal charges with millions of dollars he gifted his father from Alameda Research. According to a March 29 Forbes report citing sources with “operational knowledge” of FTX and Alameda, in 2021 Bankman-Fried gave his father at least $10 million that was funded by a loan from Alameda. The former FTX CEO sent the funds to his father, Joseph Bankman — a Stanford Law professor who has stopped teaching classes amid…

Binance concealed ties to China for years, even after 2017 crypto crackdown: Report

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Binance CEO Changpeng “CZ” Zhao and other senior executives have been for years concealing the crypto exchange ties with China, according to documents obtained by the Financial Times. In a report on March 29, FT claims that Binance had substantial ties to China for several years, contrary to the company’s claims that it left the country after a 2017 ban on crypto, including an office still in use by the end of 2019 and a Chinese bank used to pay employees. “We no longer publish our office addresses . .…

BTC Back Above $28,000, Following US Consumer Confidence Report – Market Updates Bitcoin News

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Bitcoin surged higher on Wednesday, as markets reacted strongly to better-than-expected consumer confidence figures in the United States. Data from the Conference Board showed that its monthly survey rose to a reading 104.2, better than the 101 sum expected. Ethereum also climbed, moving above $1,800. Bitcoin Bitcoin (BTC) once again moved above the $28,000 level on Wednesday, as markets reacted to the latest consumer confidence report in the United States. The increase in confidence is seen by some as validating the Federal Reserve’s recent decision to marginally hike rates. Following…

Singaporean Women Outpacing Men in Cryptocurrency Trading, Report Shows

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According to the Independent Reserve Cryptocurrency Index Singapore 2023 report, women in Singapore are slightly more likely than men to profit from their cryptocurrency investments or at the very least break even. In February, 1,500 average Singaporeans participated in the Independent Reserve Cryptocurrency Index (IRCI) survey, which asks participants about their sentiments on cryptocurrencies. The survey results stated 76% of women said they had either made money or broken even on their cryptocurrency investments — as opposed to only 72% of men. It stated that this is the first time…