Tag: Report

Russian stablecoin usage surged after Ukraine invasion: Report

According to Chainalysis data, Russia’s stablecoin usage has increased since the onset of the war, due partly to ordinary Russian citizens seeking to protect their assets. A new report from blockchain analytics firm Chainalysis has shown a surge in stablecoin usage in Russia following the Russian invasion of Ukraine, which has since seen sanctions and inflation impacting the country.  Released on Oct. 12, the report revealed that the share of stablecoin’s transaction volume on primarily Russian services increased from 42% in January to 67% in March following the invasion, and…

Report Shows Ethereum Supply Tanks By 5,500 ETH, What Does It Mean?

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Ethereum completed one of its historic upgrades in mid-September. The Merge created the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Unfortunately, the post-Merge events brought deflationary situations for the blockchain. As predicted by some crypto experts, the price of Ethereum has dropped drastically following its transition to PoS. Also, the dynamics of ETH supply have changed after the upgrade. According to data from Ultrasound Money, there’s a reduction in the daily amount of ETH that hit the market. Furthermore, the data revealed that the declining record was about 90% after…

U.S. Securities and Exchange Commission Opening Investigation Into Bored Ape Yacht Club NFT Creators: Report

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Federal regulators are reportedly investigating the creator of the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection for potential violations of federal laws during the sale of digital assets. Citing an unnamed source familiar with the matter, Bloomberg reports that the U.S. Securities and Exchange Commission (SEC) is investigating Yuga Labs to determine if some of its NFTs are comparable to stocks, which would require compliance with disclosure rules. In a statement, the Miami-based company says it will cooperate with any investigation. “It’s well-known that policymakers and regulators have…

Kazakhstan Legislature Pushes New Crypto Rules Forward: Report

The draft of at least some of this legislation was introduced only in late September, local reports show, indicating how quickly the new rules are moving forward. The bills address the issuance and circulation of “secured and unsecured digital assets,” according to Ekaterina Smyshlyaeva, a member of the lower house’s Committee on Economic Reform and Regional Development. Source

BTC, ETH Move Higher Ahead of US Inflation Report – Market Updates Bitcoin News

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Bitcoin was trading marginally higher on Wednesday, as markets prepared for the upcoming U.S. inflation report. Cryptocurrencies have mostly consolidated ahead of the release, which many believe could trigger further action from the Federal Reserve Bank. Ethereum was also higher, as the token rose above $1,300. Bitcoin Following two consecutive days of declines, bitcoin (BTC) was back in the green on Wednesday ahead of the U.S. inflation report. The world’s largest cryptocurrency rose to a high of $19,241.96, less than 24 hours after hitting a bottom of $18,925.60. Today’s move…

BNY Mellon to Begin Crypto Custody Service: Report

To this point, traditional fund managers interested in holding digital assets – who otherwise rely on BNY Mellon (or other custodial lenders) to perform the necessary back-office tasks related to their usual securities holdings – typically would have had to find a firm specializing in cryptocurrency for custody services. Source

Bitcoin Trades Flat Ahead of Inflation Report

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● Bitcoin (BTC): $19,238 −1.2% ● Ether (ETH): $1,308 −1.0% ● CoinDesk Market Index (CMI): 952.64 −1.1% ● S&P 500 daily close: 3,612.39 −0.7% ● Gold: $1,675 per troy ounce −1.5% ● Ten-year Treasury yield daily close: 3.89% +0.005 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Original