Tag: Report

Binance Refutes Forbes Collateral Report Alleging Exchange Transferred Vast Customer Funds Surreptitiously

Leading exchange Binance claims that the Forbes collateral report relates to its internal wallet management and is thus unfounded. Binance has hit back at the Forbes report that claims it quietly transferred $1.8 billion in client-backing collateral. According to the Forbes report, the prominent crypto exchange moved the stablecoin-backing funds without informing its customers. The Forbes report stated that Binance moved a significant chunk of the transferred customer funds ($1.1 billion) to Cumberland, the crypto trading arm of DRW Holdings LLC, a diversified trading firm based in Chicago. Binance’s chief strategy officer, Patrick…

ICO publishes SME Data Essentials pilot evaluation report

The ICO is here to help SMEs unlock the value of the personal information they hold, responsibly. Getting good data practices in from the start will save organisations time and money and boost customer confidence. We have recently completed a pilot programme with up to 60 SMEs from across the UK, in which they have been trialling an e-learning and self-assessment programme. Named SME Data Essentials, it is aimed at empowering organisations to become better equipped to manage their own data compliance. Today we have published the pilot’s evaluation report…

Russian Darknet Markets, Ransomware Groups Thrive Despite Sanctions, Report – Bitcoin News

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Russian marketplaces on the dark web have continued to operate despite Western sanctions and efforts to shut them down, according to a report accessing the illicit blockchain space amid the world’s “first crypto war.” Ransomware actors and high-risk crypto exchanges have also remained active. Underground Russian Crypto Platforms Adapting to Disruptions Caused by Ukraine War Before Russia invaded Ukraine a year ago, cryptocurrency exchanges linked to the two countries accounted for over half of the international volumes of illicit crypto funds. Cybercrime organizations were full of Russian-speaking members and Russian-language…

BitFlyer founder seeks to reinstate self as CEO, leading firm to IPO: Report

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Yuzo Kano, the co-founder of Japan-based cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting next month, in an apparent bid to reinvigorate what he claims is a stagnating firm.  Kano resigned in 2019 following a series of management disputes but is now determined to reinvigorate the crypto firm and lead it toward an Initial Public Offering (IPO) in the coming months, according to a Feb. 26 report by Bloomberg. The former CEO also said he also wants to put Japan back on the map…

IMF to prefer regulating crypto than banning it outright: Report

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The International Monetary Fund would prefer to differentiate and regulate crypto assets rather than enforce an outright ban, though the nuclear option will remain on the table for now. Speaking on the sidelines of the G20 finance ministers meetings in Bengaluru, India, IMF Managing Director Kristalina Georgieva explained how the United Nations financial agency views digital assets and what it would like to see in terms of regulation. “We are very much in favor of regulating the world of digital money,” and this is a top priority, she stated. During…

IMF prefers to regulate crypto than banning it outright: Report

The International Monetary Fund would prefer to differentiate and regulate crypto assets rather than enforce an outright ban, though the nuclear option will remain on the table for now. Speaking on the sidelines of the G20 finance ministers meetings in Bengaluru, India, IMF Managing Director Kristalina Georgieva explained how the United Nations financial agency views digital assets and what it would like to see in terms of regulation. “We are very much in favor of regulating the world of digital money,” and this is a top priority, she stated. During…

Colombia’s legal system experiments in the metaverse: Report

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A Colombian court recently hosted its first legal trial in the Metaverse, with the court magistrate saying it felt “more real than a video call,” according to a recent report. According to a Reuters report published on Feb. 24, Colombia’s Magdalena Administrative Court held a court case in the Metaverse on Feb. 15, involving participants in a traffic dispute. The case, which went on for two-hours, was brought by a regional transport union against the police, which will progress “partly” in the metaverse, with a potential for the verdict to…

Crypto Exchanges Allow Russians to Circumvent Sanctions, Report Alleges – Exchanges Bitcoin News

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Major crypto exchanges have failed to prevent sanctioned Russian banks and traders from transacting, according to a blockchain forensics report. At least two established coin trading platforms continue to allow Russians to use their bank cards in peer-to-peer deals, the analysis shows. It also highlights an increased Russian interest in tether. Russian Traders Still Using Leading Cryptocurrency Exchanges to Bypass Restrictions Some of the world’s largest digital asset exchanges have been failing with measures to prevent Russian banking institutions under sanctions from operating through their platforms, reveals a report by…

VC blockchain and crypto funding drops off in Q4 2022: Report

2022 will go down as a tough year for the cryptocurrency space and bleak market conditions were mirrored by a downtrend of venture capital funding flowing into blockchain and crypto activities. A report from Blockdata highlights consecutive drops in funding through all four quarters of 2022, following booming venture capital funding into the wider Web3 space through 2021. Analyzing data from CB Insights, Blockdata rounded off 2022’s final quarter of venture capital funding value noting a 34% decline from Q3 2022. The last quarter of the year was down drastically…