Tag: Report

Riot’s annual report details $500m net loss in 2022

Riot Platform inc., one of North America’s largest bitcoin (BTC) mining companies, released its 2022 annual financial report indicating a net loss of $509.6 million. According to the annual report released on March 2, the company suffered significant non-cash impairment charges. Non-cash impairment charges are accounting expenses not settled in cash payments. They include amortization, stock depreciation, and goodwill charges. In the case of Riot, non-cash impairment payments related to goodwill, bitcoin, and miner impairments were the most impactful, grossing about $538.6 million. Additionally, bitcoin depreciation and amortization accounted for…

Riot Platforms Full-Year 2022 Report Shows Company on Track for Aggressive Growth Plans

The Riot 2022 reports showed that the Bitcoin miner tripled its hashrate capacity to an all-time high of 9.7 EH/s.  Bitcoin (BTC) mining company Riot Platforms recently released a full-year 2022 report on its financial and operational performance. For the period ended December 2022, the company raked in revenue of $259.2 million while also tripling its hashrate capacity. Riot explained that its full-year revenue haul resulted from increased BTC production. The company also said its end-of-year proceeds were due to an entire year of hosting and engineering revenues. Last year, Riot produced…

UK banks HSBC, Nationwide to ban crypto purchases with credit cards: Report

boss

United Kingdom babanks HSBC Holdings and Nationwide Building Society are banning cryptocurrency purchases via credit cards for retail customers. They join a growing list of banks in the country to tighten restrictions on digital assets.  A Bloomberg report on March 2 claims the step back is a response to warnings by UK regulators and scandals surrounding the crypto industry. Nationwide is reportedly applying daily limits of £5,000 ($5,965) on debit-card purchases of crypto assets, while credit cards will no longer be available for crypto transactions. Customers of HSBC were barred…

Ukraine’s Government-Provided Crypto Addresses Raised $70 Million During War, Report – Bitcoin News

boss

Crypto donations collected by the government in Kyiv since the start of the Russian invasion have amounted to almost $70 million, according to Chainalysis. Ether has been the most donated crypto followed by bitcoin and the stablecoin tether, the blockchain intelligence firm said in a report. Ukraine Receives Millions of Dollars in Various Coins From the Global Crypto Community The amount of cryptocurrency transferred to addresses published by the Ukrainian government to raise money for defense and other purposes has reached nearly $70 million, blockchain forensics firm Chainalysis revealed on…

Crypto distribution is uneven among banks as prudential exposure rises: BIS report

boss

Around 20% of banks have exposure to crypto assets, a Bank for International Settlements (BIS) report released Feb. 28 found. The majority of those banks are in the Western Hemisphere.  According to the report — which is based on data from the first half of 2022 — 17 Group 1 banks reported approximately 2.9 billion euros in crypto-asset prudential exposure and 1 billion euros in crypto assets under custody. A Group 1 bank is one that has Tier 1 capital of more than 3 billion euros and is internationally active.…

Report Claims Visa and Mastercard Plan to Pause New Partnerships, Visa’s Head of Crypto Insists ‘Story Is Inaccurate’ – Bitcoin News

boss

According to a recent report from sources familiar with the matter, Mastercard and Visa, the credit card and payment services giants, are halting new partnerships with cryptocurrency firms. This news comes after the collapse of several cryptocurrency ventures that offered crypto debit cards and failed due to financial difficulties last year. After the report published, Visa’s head of crypto, Cuy Sheffield, criticized the story as “inaccurate as it pertains to Visa.” Visa and Mastercard Clarify Their Stance on Cryptocurrency Despite Alleged Partnership Halt A report published by Reuters on Tuesday…

CZ responds to mainstream FUD, and Solana goes down again — Watch The Market Report live

boss

This week on The Market Report, the resident experts at Cointelegraph discuss the recent fear, uncertainty and doubt (FUD) around the popular cryptocurrency exchange Binance and what the CEO of Solana had to say about recent outages.  We kick things off with this week’s top stories Binance CEO responds to Forbes claims: ‘They don’t know how an exchange works’ In the aftermath of the FTX collapse, Forbes published an article focused on the recent “shuffling” of funds by the Binance cryptocurrency exchange. However, the following day on Feb. 28, Binance co-founder and CEO…

BTC, ETH Slip Ahead of US Consumer Confidence Report – Market Updates Bitcoin News

boss

Bitcoin and ethereum were trading lower on Feb. 28, as markets anticipated the release of the upcoming U.S. consumer confidence report. The data, which is for February, is expected to show a slight increase in confidence for the month. This will likely result in the Federal Reserve maintaining its rate hike policy next month. Bitcoin Bitcoin (BTC) fell for a second straight session on Tuesday, as prices flirted with a breakout below $23,000. BTC/USD moved to an intraday low of $23,205.88 earlier in today’s session, which comes less than 24…

Visa and Mastercard halt new crypto partnerships — Report

boss

According to a a Reuters report published on Feb. 28, American payment processors Visa and Mastercard has delayed the launch of new partnerships with crypto firms due to a series of high-profile bankruptcies in the industry that have led to increased regulatory scrutiny. The move follows a period of warming relations between payment giants and crypto firms as the popularity of cryptocurrencies exploded, with Mastercard exploring payments via USD Coin and Visa targeting stablecoin settlements mere weeks before today’s development.  Both Visa and Mastercard are said to be pushing back…