Tag: Report

Quantum computers may soon breach blockchain cryptography: Report

According to a recent paper, Chinese researchers claimed to have discovered a novel method to break the Rivest–Shamir–Adleman 2048 bit (RSA-2048) signing algorithm present in blockchains and other security protocols. RSA is a cryptographic technique that utilizes a public key to encrypt information and a private key to decrypt them.  Breaching the RSA-2048 algorithm requires, similar to other algorithms in the RSA numbers family, finding the prime factors of a number with 617 decimal digits and 2048 binary digits. Experts estimate that it would take ordinary computers 300 trillion years…

Samsung to Report Q4 Operating Profit Slump amid Global Market Downturn

Samsung has had a relatively tough year, one that has seeped into its stock performance. South Korean multinational tech giant Samsung Electronics Co Ltd (KRX: 005930) is set to report a significant slump in its fourth quarter (Q4) operating profit amid a broader plunge in the global economy. According to a Reuters report, citing a Refinitiv SmartEstimate from 21 analysts, the company’s operating profit is bound to fall to 5.9 trillion won ($4.62 billion). Samsung is set to release the preliminary report on Friday while the full report is billed…

Silvergate sold assets at loss and cut staff to cover $8.1B in withdrawals: Report

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The FTX debacle has triggered a bank run on Silvergate, causing the company to sell off its assets at a loss and cut staff by 40% to cover $8.1 billion worth of customer withdrawals. According to a report published by The Wall Street Journal, the bank liquidated debt that it was holding on its balance sheet to keep up with withdrawals, losing $718 million in the process. The loss reportedly surpasses the firm’s profits since 2013. In addition, crypto-related deposits in the firm dropped by 68% in the fourth quarter…

US authorities are seizing $460M in Robinhood shares tied to FTX: Report

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The United States Departure of Justice has reportedly seized or was in the process of seizing more than $400 million worth of Robinhood shares linked to FTX as part of the case against the crypto exchange. According to a Jan. 4 report from Reuters, U.S. officials told a judge they were in the process of seizing assets tied to FTX and its former CEO Sam Bankman-Fried, which included 56 million shares of Robinhood — worth roughly $468 million at the time of publication. The report followed a judge in the…

Fanatics Selling Its 60% Stake in Sports NFT Firm Candy Digital: Report

But Fanatics’ CEO Michael Rubin wrote in the internal email that “Divesting our ownership stake at this time allowed us to ensure investors were able to recoup most of their investment via cash or additional shares in Fanatics – a favorable outcome for investors, especially in an imploding NFT market that has seen precipitous drops in both transaction volumes and prices for standalone NFTs.” Source

Digital assets inflows reached $433M in 2022: Report

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Digital assets funds saw inflows totaling $433 million during 2022, the lowest level since 2018, when inflows in the crypto industry reached $233 million, according to the cryptocurrency investment firm Coinshares.  Investors’ appetite for digital assets seems not to have been fully affected by the crypto winter, but otherwise encouraged investments in crypto assets in a year marked by a price decline and the collapse of many industry players. James Butterfill, researcher at CoinShares, noted in the weekly report that: “In a year where bitcoin prices fell by 63%, a…

Tesla (TSLA) Stock Takes 12% Hit Following Q4 2022 Delivery Report

On Tuesday, Tesla saw its stock take a significant downturn a day after posting its December vehicle production and delivery report. Tesla Inc (NASDAQ: TSLA) stock recently plunged by more than 12% on the heels of the company’s Q4 2022 vehicle production and delivery report. Although Tesla’s numbers were a record, they fell short of analysts’ expectations. On Tuesday, Tesla posted 405,278 deliveries for the fourth quarter of last year and 1.31 million total deliveries for all of 2022. The electric vehicle’s full-year figures represent a record 40% growth in deliveries…

Indonesia to launch national crypto exchange in 2023: Report

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As a part of its reform of crypto regulation, Indonesia will create a crypto exchange in 2023, according to reports. The platform is planned to be launched prior to a shift of regulatory power from commodities to securities authority.  On Jan. 4, the head of the Commodity Futures Trading Regulatory Agency of Indonesia (Bappebti), Didid Noordiatmoko, stated that a crypto exchange should be set up this year. The move comes as a part of broader financial reform launched in December 2022. In accordance with the reform, in the next two…

Binance Nears Acquisition of Korean Crypto Exchange Gopax: Report

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Binance, leading cryptocurrency exchange, is making arrangements to finalize its acquisition of GOPAX, one of the top crypto exchanges in Korea, blockchain media platform Decenter reports. The exchange has conducted its due diligence in this regard and is confirming other procedures, the outlet said. Grab your copy of our latest Quarterly Intelligence Report for Q3 2022 before your competitors and stay up-to-date with crucial developments in the Forex and CFD industry! According to the outlet, Binance intends to buy the 41.2% majority stake of CEO Lee Jun-Haeng in GOPAX. The…