Tag: Report

Stablecoin issuers hold more US debt than Berkshire Hathaway: Report

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Stablecoin issuers like Tether (USDT) and Circle have accumulated a significant share in the United States Treasury market, outperforming major traditional finance players. Various stablecoin providers collectively held $80 billion worth of short-term U.S. government debt as of May 2022, according to a study by the investment bank JPMorgan, The Financial Times reported on Aug. 20. Tether, Circle and other stablecoin firms accounted for 2% of the total market for the U.S. Treasury bills, holding a bigger share of T-bills than totally owned by Warren Buffett’s investment giant Berkshire Hathaway.…

Analyst Says if Silver Dips Below $18, Precious Metal Could ‘Get Absolutely Smoked’ — Morgan Report Founder Expects a Supply Crunch – Finance Bitcoin News

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While gold’s been teetering along at just under $1,750 per ounce, the price of silver has dropped considerably, sliding 2.33% in value against the U.S. dollar during the last 24 hours. Silver has lost more than 28% against the dollar during the last 165 days or since March 8, 2022. Despite the lower prices, David Morgan, the founder of The Morgan Report, believes silver is expected to see a crunch in supply. In ten years’ time, Morgan thinks silver will be one of the best investments of the decade. David…

Yuga Labs Officially Releases IP Rights Tied to Cryptopunks, Meebits NFTs — Galaxy Digital Report Criticizes BAYC License – Blockchain Bitcoin News

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Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, has officially released the intellectual property (IP) rights tied to the Cryptopunks and Meebits NFTs. The company acquired the IP rights to the NFT collections in mid-March 2022, and owners can use their NFTs for commercial or personal purposes. Yuga Labs Releases Intellectual Property Licenses to Cryptopunks and Meebits Owners On March 12, 2022, Bitcoin.com News reported on the Cryptopunks and Meebits non-fungible token (NFT) collections being acquired by Yuga Labs. The firm Yuga Labs…

Celsius Network coin report shows a balance gap of $2.85 billion: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. This past week, Celsius’s financial troubles mounted further as a new coin report showed the company had a balance gap of $2.85 billion, more than double what it had shown in the bankruptcy filing. Aave (AAVE) called upon community members to commit to the Ethereum proof-of-stake (PoS) Merge. Coinbase CEO said the exchange would rather wind down its staking services than implement on-chain censorship…

Kaiko Report Shows Latam Harnessing Crypto Mostly for ‘Real World’ Use Cases – Exchanges Bitcoin News

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The latest data debrief issued by Kaiko, a provider of digital assets market data, has found that while there is retail movement in Latam regarding crypto assets, most liquidity is directed to “real world” use cases. Among these activities are remittances, stablecoin-based yield generating investment options, and also payments, with Bitso and Mercado Bitcoin being the leaders in volumes traded in the area. Latam Focuses on Crypto Differently, According to Kaiko Much has been said about the uses that Latam countries are giving to crypto assets, many mentioning…

Robinhood lands steep 60% discount on $170M exchange acquisition: Report

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Stock and crypto investment platform Robinhood has reportedly scored a 58% cut on its $170 million offer to buy crypto exchange Ziglu due to adverse market conditions. The initial offer from Robinhood came in April, however according to various reports online around Aug.17, the company revised its offer to $72.5 million after citing adverse market conditions. Ziglu CEO Mark Hipperson reportedly accepted the offer on Aug. 18. Robinhood is said to have highlighted a host of factors including the bear market, the implosion of several major centralized crypto lenders BlockFi,…

Blockchain venture capital funding down over 43% in July: Report

Typically a lagging indicator of the sector’s health, the explosion of venture funding in the blockchain sector in 2021 and the first half of 2022 appears to be cooling off after seven consecutive sectors of growth. According to Cointelegraph Research, inflows in the blockchain venture capital market have declined by 43% month-on-month in July 2022. The Web3 sector, including GameFi and the Metaverse, continues to command the lion’s share of investor interest. But, the decline in capital inflows should be viewed in context as the numbers are close to the…

Colombia to prevent tax evasion with national digital currency: Report

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Amid Colombia’s economic growth beat expectations in the second quarter, an official at the country’s tax and customs agency has hinted at some national digital currency plans. Luis Carlos Reyes, the head of the Colombian Tax and Customs National Authority, claimed that the government of newly inaugurated Colombian President Gustavo Petro will seek to create a digital currency to prevent illicit financial activity like tax evasion. Colombia’s digital currency plans are part of the country’s new monetary policy measures aiming to increase transparency of financial transactions, the official said in…

Another depeg — Acala trace report reveals 3B aUSD erroneously minted

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High-profile security incidents continue to be a theme in 2022 as the Acala Network joined a long list of stricken platforms to fall prey to exploits. Acala’s aUSD token, which acts as the native stablecoin for the Polkadot and Kusama blockchains, saw its value plummet 99% after a misconfiguration of the iBTC/aUSD liquidity pool was exploited after its launch on Aug. 14. Initial estimates from Acala noted that 1.2 billion aUSD were minted without the necessary collateral – seeing the token’s value depeg from its 1:1 USD ratio to a…