Tag: Report

Sam Bankman-Fried wants to see indictment before extradition to US: Report

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Former FTX chief executive officer Sam Bankman-Fried, who is currently facing multiple charges related to wire fraud and securities fraud, reportedly said he wanted to see the indictment against him before agreeing to extradition to the United States. Appearing in an emergency hearing of the Bahamas Magistrate Court on Dec. 19 for the first time since his bail was denied, Bankman-Fried reportedly said he was willing to not fight the process required for extradition to the United States but wanted to see all the charges against him. He spent the last…

Nigeria Set to Recognise Crypto as Investment Capital: Report

If passed, the proposed Investments and Securities Act, 2007 (Amendment) Bill, will also define supervisory roles for the Central Bank of Nigeria and the securities and exchange commission (SEC) with respect to digital currencies, Babangida Ibrahim, chairman of the House of Representatives Committee on Capital Market and Institutions, told Punch. Source

Whales Accumulate $726 Million In Bitcoin, Report Shows

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Bitcoin and the crypto market have been of late seeing most prices of crypto in red, with little hope for an uptrend, at least based on charts. The past few weeks have seen growing fear and doubt about the asset class. However, despite the recent trend in the market, the primary crypto asset, Bitcoin, is recording an increase in whale transactions. The big shots have gathered more BTC in the past fortnight, valued at hundreds of millions of dollars. Bitcoin Gets Massive Whale Accumulation According to data from Santiment, a…

Sam Bankman-Fried seeks to reverse decision on contesting extradition: Report

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Sam Bankman-Fried, former FTX CEO, has reportedly reconsidered his earlier decision to contest extradition and is expected to appear in court in the Bahamas on Dec. 19 to seek a reversal, Reuters reported on Dec. 17 citing a person familiar with the matter.  By consenting to extradition, Bankman-Fried would be able to appear in a United States court. He faces charges of conspiracy to commit wire fraud on customers and lenders, securities fraud, commodities fraud, money laundering and conspiracy to defraud the United States and violate the campaign finance law.…

5 key takeaways from Huobi 2022 crypto industry report

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Over the last year the crypto, and greater Web3 industry has seen a rollercoaster of loss, growth and innovation — and the data shows. In the latest industry report from cryptocurrency exchange Huobi, “Global Crypto Industry Overview and Trends,” trends and stats were pulled from the industry on everything from nonfungible tokens (NFTs) and the metaverse to centralized exchange (CEX) usage and regulations. Despite the turmoil of major events like the FTX collapse, Terra’s implosion and 3AC bankruptcy, the industry still accounted for approximately 320 million crypto users worldwide in the…

Amber Group acquires cryptocurrency platform Sparrow exchange: report

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Cryptocurrency trading firm Amber Group, which had roughly 10% of its trading capital stuck on FTX at the time of the exchange’s collapse, has reportedly acquired cryptocurrency platform, Sparrow Holdings according to an announcement on Dec. 14. The Singaporean crypto platform Sparrow Holdings, which offers digital assets products and solutions, acquired its payments license from the Monetary Authority of Singapore in August, to provide Digital Payment Token (DPT) services in Singapore, under the Payment Services Act (PSA). Founded in 2018, Sparrow works with financial institutions and family offices in designing…

Coinbase Introduces Recovery Tool for Lost ERC-20 Tokens: Report

Users of Coinbase can trade about 9,000 different cryptocurrencies, far more than rivals Kraken and Binance, but while transfers of ERC-20 tokens aren’t significant, they are popular among developers who want to create their own tokens on the Ethereum blockchain and other users who believe in the networks behind those tokens. Original Source CoinbaseERC20IntroducesLostRecoveryReportTokensTool CryptoX Portal

New OECD report takes lessons from crypto winter, faults ‘financial engineering’

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The Organisation for Economic Cooperation and Development (OECD) analyzed the crypto winter in a new policy paper titled “Lessons from the crypto winter: DeFi versus CeFi,” released Dec. 14. The authors examined the impact of the crypto winter on retail investors and the role of “financial engineering” in the industry’s current problems and found a lot not to like. The paper from the OECD, an intergovernmental body with 38 member states dedicated to economic progress and world trade, concentrated on events in the first three quarters of 2022. It placed…