Tag: Report

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

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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

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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

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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

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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

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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…

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…