“An ‘EU crypto tax’ is not on the cards,” Markova said, with any tax law needing unanimous agreement of 27 finance ministers, but added that, politically speaking, “it will be difficult to argue that the proposal should be any less expansive in scope or granularity than it is.” Source
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.…
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…
Mobileye reported that it made $450 million in Q3 2022 and has now forecast fourth-quarter revenue to $527 million-$545 million. Mobileye Global Inc (NASDAQ: MBLY) recently posted its Q3 2022 financial report, which revealed better-than-expected numbers for the Jerusalem-based Intel Corporation (NASDAQ: INTC) spinoff. For the third quarter of this year, Mobileye’s total revenue surged 38% year-over-year (YoY) to $450 million compared to analysts’ expectations of $447 million for the same period. In addition, the Israeli autonomous driving technology developer also saw its share price climb 6.26% to $32.40. Following its substantial Q3 2022…
The new management for bankrupt crypto exchange FTX has reportedly hired a team of financial forensic investigators to track down the billions of dollars worth of missing customer crypto. Financial advisory company AlixPartners was chosen for the task and is led by former Securities and Exchange Commission (SEC) chief accountant, Matt Jacques, according to a Dec. 7 report from the Wall Street Journal. It is understood that the forensics firm will be tasked with conducting “asset-tracing” to identify and recover the missing digital assets and will complement the restructing work…
House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) told a group of Democrats that she doesn’t plan to subpoena former FTX CEO Sam Bankman-Fried to testify at a hearing on the crypto exchange’s collapse next week , according to a report from CNBC. Source
The country joins other jurisdictions in proposing standards for stablecoin issuance. Source
Despite the headwinds that have dominated the year, remittances to low and middle-income countries in 2022 still grew by 5% to $626 billion, the World Bank Migration and Development Brief has said. Africa, where the cost of sending $200 averaged 7.8% in 2022, is the “most severely exposed to the concurrent crises.” Impact of the Appreciating Ruble and Weaker Euro According to the latest World Bank Migration and Development Brief (MDB), total remittances to the so-called low and middle-income countries (LMICs) in 2022 went up by 5% to $626 billion.…
While some countries like Nigeria are aggressively pushing the use of central bank digital currencies (CBDCs), a new report summarized why a number of private stakeholders are against the idea of a CBDC. The report dubbed “The State of CBDCs in 2022,” published by blockchain insights firm Blockdata, dove into the most significant CBDC developments within the past year. It also pinpointed some of the key reasons why some private companies are against CBDCs. Citing stablecoin issuer Circle’s stance on CBDCs, the report highlighted that digital currency issuance may be…
The crypto market is currently undergoing a series of unfortunate events. From the crash of stablecoin Terra to the fall of Celsius, it has been a gloomy year for crypto investors. More recently, the capitulation of the Bankman-Fried-led popular exchange FTX has further amplified this negative trend. In addition, exchanges like Gemini and Coinbase have laid off a significant chunk of their workforce. According to Glassnode reports, the collapse of FTX has led to one of the largest; deleveraging events in the history of crypto. As a result, the market…