Tag: Report

Amber Group ditches expansion plans after denying insolvency: Report

boss

Cryptocurrency trading firm Amber Group is putting its expansion plans on hold despite the FTX contagion having “no disruption” to its daily operations, according to a senior executive. Amber has scrapped plans to expand in Europe and the United States as a consequence of exposure to the now-defunct exchange FTX and will focus on institutional clients in Asia, according to managing partner Annabelle Huang. Huang also said that Amber has been forced to deprioritize its new metaverse project due the FTX contagion, the Financial Times reported on Dec. 9. Apart…

Brussels Wants All Crypto Service Providers to Report Transactions of Europeans – Taxes Bitcoin News

boss

The European Commission has set out to oblige platforms processing crypto transactions for EU residents to share information with tax authorities in the Union. According to the proposal, all crypto service providers, regardless of where they are based, will have to abide by the new rules. EU to Consider New Reporting Requirements for Crypto Platforms Serving European Users The executive power in Brussels intends to push through new “tax transparency rules” for the crypto industry. The proposal announced on Thursday concerns all service providers facilitating transactions in crypto assets for…

Massachusetts Senator Forwards Bill Aimed at Forcing Crypto Miners to Report Greenhouse Gas Emissions – Bitcoin News

boss

On Dec. 8, 2022, three Democratic politicians from Massachusetts, Oregon, and California revealed legislation aimed at combatting “energy-intensive” cryptocurrency mining operations. The bill introduced by senator Ed Markey (D-MA) alleges that crypto mining “strains the grid” and the industry “undermines U.S. climate goals.” 3 U.S. Bureaucrats Believe Crypto Miners Need to Report Carbon Emissions and Environmental Assessments Senators Ed Markey (D-MA), Jeff Merkley (D-ORE), and Jared Huffman (D-CA) have introduced a bill that would require “an interagency study on the environmental and energy impacts of crypto asset mining.” Markey’s press…

Crypto Trading Firm Amber Group Ditches $25M Chelsea Sponsorship Deal Amid Layoffs: Report

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Countries and institutions move into crypto despite market drop: Report

boss

The crypto markets have been in decline since the start of the second quarter of 2022. Each time it seemed like the apparent crypto winter would experience a minor thaw, another notable collapse happened: Celsius, Three Arrows Capital, and more recently, FTX. Approaching the end of 2022, it appears that the same negative sentiments are likely to remain. While some analysts say that Bitcoin (BTC) and Ether (ETH) derivatives are currently flashing positive signals for the market due to their high volatility, that same volatility is impacting the sentiment of…

Leader of Suspected Russian Ponzi Scheme Is Arrested in UAE: Report

Finiko was popular in Russia in 2020-2021, marketing itself as a crypto investment fund. The company, which had been conducting public events and openly advertising itself, operated as a multilevel marketing scheme, offering rewards for bringing in new users and targeting mostly women from 30 to 50 years old, according to the Russian investigative outlet The Bell. It could have gotten away with as much as $95 million of investors’ money, The Bell said. Source

Crypto is ‘most mature’ in these 2 countries, new Huobi report reveals

boss

Bitcoin (BTC) and crypto are only used by 13.7% of Americans, but they generate more exchange volume than anyone else. The latest data compiled by exchange Huobi confirms that in 2022, the United States is the most “mature” crypto market. U.S., Vietnam lead the way on crypto Despite the heavy drawdowns in price for Bitcoin and altcoins this year, interest throughout the world remains “extremely active,” and the leaders may come as a surprise. In its latest annual report, Huobi Research, an affiliate of Huobi Global, revealed that the U.S.…

GameStop Q3 2022 Report Underwhelms, Revenue Comes in $170M Less than Expected

The GameStop Q3 2022 earning report showed poor figures that reflect reduced consumer spending on its products. GameStop (NYSE: GME) recently reported a bigger-than-anticipated loss on its Q3 2022 financial outing. The video game and gaming merchandise giant missed analysts’ estimates for several reasons, including the inflation pinch. Following its earnings miss for the period ended September 30th, GameStop’s management demonstrated an openness to acquisitions for the right price. GameStop Q3 2022 Outing GameStop’s revenue for the third quarter came in at a relatively tame $1.19 billion. This figure compared unfavorably…