Tag: Report

New Hampshire gov releases report on blockchain following executive order

Chris Sununu, the governor of New Hampshire, has released the results of an investigation from a ​​commission aimed at recommending legislation around digital assets and blockchain as part of a 2022 executive order. In a Jan. 19 announcement, Sununu said the Commission on Cryptocurrencies and Digital Assets had reported the legal and regulatory status of cryptocurrencies and digital assets was “highly uncertain,” stymying development and leading to less protection for investors and consumers. The group recommended New Hampshire establish a state legal regime aimed at drawing in blockchain firms and…

Decentralized forex will reduce cost by as much as 80%: Report

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If the foreign exchange market starts using decentralized finance (DeFi) protocols instead of the current centralized systems, the cost of remittances could be reduced by “as much as 80%,” according to a Jan. 19 paper jointly published by researchers at Circle and Uniswap. On-chain foreign exchange (FX) is a new model of global value exchange that offers a faster, cheaper, and more efficient alternative for cross-border payments. Our recent research paper with @circle has it all https://t.co/NGniRo8yrp — Uniswap Labs (@Uniswap) January 19, 2023 The paper, titled “On-chain Foreign Exchange…

OKX declares $7.5B in liquid assets in proof-of-reserves report

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Crypto exchange OKX disclosed $7.5 billion in reserves of Bitcoin (BTC), Ether (ETH) and Tether (USDT) as part of its monthly proof-of-reserves (PoR) report. Based on data from blockchain analytics firm CryptoQuant, OKX claims to have the “largest clean asset reserves among major exchanges.” OKX claims to maintain 1:1 reserves, which would mean means the company’s on-chain assets 100% match the customer‘s balances. The report shows current reserve ratios of 105% for BTC, 105% for ETH and 101% for USDT. The term “clean” is used in proofs of reserves to…

City of Busan to establish digital assets exchange: Report

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According to local news outlet News1, Busan, South Korea will establish a decentralized digital commodities exchange. Officials said the platform is scheduled to start operations this year and will support local cultural content via digital assets. “Taking advantage of the strengths of Busan, such as the Busan International Film Festival, G-Star; [the exchange] will include tokenization of intellectual property rights in the film and game fields, as well as gold, precious metals, agricultural and livestock products, ships, real estate, etc.” As told by the Busan Digital Asset Exchange Establishment Promotion…

FTX CEO says he is exploring rebooting the exchange: Report

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John Ray, who took over as CEO of cryptocurrency exchange FTX prior to bankruptcy proceedings, has reportedly set up a task force to consider restarting FTX.com. According to a Jan. 19 report from the Wall Street Journal, Ray said everything was “on the table” when it came to the future of FTX.com, including a potential path forward with rebooting the exchange. FTX Trading, doing business as FTX.com, was one of roughly 130 companies under FTX Group that filed for Chapter 11 bankruptcy in November 2022. Ray reportedly was considering reviving…

FTX profited from Sam Bankman-Fried’s inflated coins: Report

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Sam Bankman-Fried, the former CEO of the FTX crypto exchange, used his influence in the crypto industry to inflate some coins prices through a coordinated strategy with FTX’s sister company, Alameda Research, a New York Times report claimed on Jan. 18. As a way to keep FTX and the companies under its umbrella profitable, Bankman-Fried allegedly approached developers behind projects, insisting that they make their trading debuts on the exchange’s platform. Following that, the report claimed, Alameda Research would buy some of these freshly listed coins to raise their value.…

Media startup says it will buy back $10 million SBF stake: Report

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Media startup Semafor said on Jan. 18 that it will attempt to buy back former FTX CEO Sam Bankman-Fried’s $10 million stake in the company, according to a Jan. 18 report from the New York Times. The report stated that Semafor will seek to raise money from other sources to make up what it is giving back. Scoop: Sam Bankman-Fried invested roughly $10 million of Semafor’s $25 million round, making him the company’s biggest outside investor. Semafor is buying back his interest and putting that money into a separate account…