Tag: Report

BTC Edges Closer to $22,000 Ahead of US Inflation Report – Market Updates Bitcoin News

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Bitcoin rebounded in Tuesday’s session, as markets prepared for this afternoon’s U.S. inflation report. It is expected that the annual rate of inflation in the United States dropped to 6.2% in January, down 0.3% from the month prior. Ethereum also rallied, climbing back above $1,500. Bitcoin Bitcoin (BTC) rebounded from recent losses in today’s session, as prices moved closer to the $22,000 level. BTC/USD hit an intraday high of $21,849.01 earlier in the day, which comes after falling to a low of $21,460.09 on Monday. Today’s action saw bitcoin snap…

SEC to target crypto firms operating as ‘qualified custodians’ — Report

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The United States Securities and Exchange Commission (SEC) is reportedly planning to propose new rule changes this week that could impact what services crypto firms can offer their clients.  According to a Feb. 14 report from Bloomberg citing “people familiar with the matter,” the securities regulator is working on a draft proposal that would make it difficult for crypto firms to hold digital assets on their client’s behalf as “qualified custodians.” This may, in turn, affect the many hedge funds, private equity firms and pension funds that work alongside such…

Circle blew the whistle on Binance reserves to NYDFS: Report

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New York State’s Department of Financial Services, or NYDFS, reportedly received a complaint from stablecoin issuer Circle regarding Binance’s reserves prior to its crackdown on BUSD. According to a Feb. 13 Bloomberg report, Circle alerted NYDFS in an autumn 2022 complaint that Binance’s reserves were insufficient to support its tokens, seemingly including stablecoin Binance USD (BUSD). A person familiar with the matter reportedly said Circle’s team had uncovered the information through blockchain data. Circle’s actions came prior to the United States Securities and Exchange Commission’s plans to file a lawsuit…

DeFi exploits and access control hacks cost crypto investors billions in 2022: Report

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Cyber criminals used a variety of novel ways to carry out hacks and exploits in 2022, with over $2.8 billion of cryptocurrency stolen last year. According to a report from CoinGecko using data sourced from DeFiYield’s REKT Database, nearly half of the total crypto stolen in 2022 was fleeced using diverse methods. This includes bypassing verification processes, market manipulation, ‘crowd looting’ as well as smart contract and bridge exploits. The biggest hack of 2022 was carried out through an access control hack. Sky Mavis, the developer behind popular game Axie…

Led by Bitcoin, blockchain industry starts 2023 off strong: Report

2023 is off to a great start, with Bitcoin (BTC) rocketing up 40% in January. The good news is not relegated to just Bitcoin, however, as this price increase has sent ripple effects across the cryptoverse. Mining revenue jumped $22.66 million in January, and crypto-related stocks doubled on average. Despite this good news, venture capital investments are down 23% from the previous month.  Download and purchase this report on the Cointelegraph Research Terminal. For a more detailed look into the various sectors of the crypto space, including venture capital, derivatives,…

Paxos to face SEC lawsuit over Binance USD — Report

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The United States Securities and Exchange Commission (SEC) has reportedly told stablecoin issuer Paxos Trust Co. that it’s planning to sue the firm for violations of investor protection laws relating to Binance USD (BUSD).  According to a Feb. 12 report in The Wall Street Journal citing people familiar with the matter, the SEC issued a Wells Notice to Paxos — a letter the regulator uses to tell companies of planned enforcement action. The notice alleges that Binance USD is an unregistered security, according to the people. According to Investopedia, after…

FTX liquidators report exchange held $2.4M ‘fleet of vehicles’ in the Bahamas

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The joint provisional liquidators of FTX Digital Markets — the firm’s subsidiary in the Bahamas — has released a report on the company’s physical assets in the island nation. According to affidavit filed by a PricewaterhouseCoopers partner with the Bahamas’ supreme court on Feb. 8, FTX’s joint provisional liquidators, or JPLs, said the company had purchased 52 properties in the Bahamas, including units “in the name of individual employees or relatives of SBF, despite FTX Digital providing the funding”. These properties, which included housing for FTX employees and commercial office…

Tether taps Cantor Fitzgerald to help oversee bond portfolio: Report

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Stablecoin issuer Tether Holdings is relying on the services of a major Wall Street firm to manage its Treasury portfolio, according to a Feb. 10 report by The Wall Street Journal.  Citing sources familiar with the matter, the Journal reported that financial services company Cantor Fitzgerald is helping Tether oversee a $39 billion bond portfolio comprised of United States Treasury securities. The report indicates that some firms on Wall Street are willing to support crypto service providers despite ongoing regulatory concerns facing the industry. Founded in 1945, Cantor Fitzgerald specializes in…