Tag: Report

Celsius CEO personally directed crypto trades months before bankruptcy: Report

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Celsius CEO Alex Mashinsky reportedly “took control” of trading strategy at the crypto lending firm amid January rumors the United States Federal Reserve planned to hike interest rates. According to a Tuesday report from the Financial Times, Mashinsky personally directed individual trades and overruled financial experts in an effort to protect Celsius from anticipated declines on the crypto market. The Celsius CEO reportedly ordered the sale of “hundreds of millions of dollars” worth of Bitcoin (BTC) in one instance, rebuying the coins less than 24 hours later at a loss.…

Public Pension Funds Continue To Show Interest in Cryptocurrency Investments Despite Downturn: Report

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Public pension funds in the United States are still showing interest in digital assets despite the crypto market downturn, according to a Wall Street Journal report. The report says that investment firms such as VanEck have received inquiries on crypto investing from public pension funds across the US in the last few years. Likening the current state of crypto assets to consumer internet technology in the early years, the Texas Association of Public Employee Retirement Systems’ executive director, Art Alfaro, says cryptocurrency is an “asset class which should not be…

S&P Global Knocks Down Coinbase Credit Rating After Exchange Posts $1.1 Billion Net Loss in Q2: Report

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Ratings agency S&P Global has reportedly knocked down the credit rating of Coinbase (COIN) after the crypto exchange revealed its financials for the second quarter of this year. According to Seeking Alpha, the S&P downgraded Coinbase’s credit rating largely due to its weak performance from April to June 2022. In a letter to shareholders last week, Coinbase revealed that it suffered a net loss of $1.1 billion during the period, which includes non-cash impairment charges that the company suffered when the value of its crypto and venture investments dropped. As…

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

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A new bankruptcy coin report filed on Aug. 14 shows that troubled crypto lender Celsius’ actual debt stands at $2.85 billion against their bankruptcy filing claims of a $1.2 billion deficit. The latest report shows that the company has net liabilities worth $6.6 billion and total assets under management at $3.8 billion. While in their bankruptcy filing, the firm has shown around $4.3 billion in assets against $5.5 billion in liabilities, representing a $1.2 billion deficit. The coin report also noted that of the total 100,669 Bitcoin (BTC) deposited by…

Report Shows Crypto Assets Record Steady Growth As Inflation Lowers

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The United States’ newest release on its inflation rate for July has created a celebration reason for many, especially the crypto sector. According to the Department of Labor publication, the July customer price index (CPI) report dipped to 8.5%. This was against its last year’s value of 9.1%. With the report’s release, many people have expressed their recommendations for the Biden Administration and their shock. Some confessed that they have expected to see a spike in inflation due to some of the prevailing factors at the moment. They mentioned that…

Zipmex Crypto Exchange Gets Over 3 Months Creditor Protection in Singapore: Report

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Founder of Crypto Exchange Giant Huobi in Talks To Sell His Shares for Over $1,000,000,000: Report

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The founder of crypto exchange platform Huobi is reportedly looking to sell his shares of the Seychelles-based firm for a over billion dollars. According to a new report by Bloomberg, Huobi founder Leon Li is in talks with investors to sell about 60% of his stake in the company that’s seeking a valuation of $3 billion. According to the report, the sale of Li’s shares could amount to as low as $1 billion if Huobi is valued at the low-end of the range at $2 billion. Anonymous sources familiar with…

UAE Now Requires Agents to Report Real Estate Transactions Where Virtual Currency Is Used as Payment – Regulation Bitcoin News

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The United Arab Emirates (UAE) has said it now requires real estate agents, brokers, and law firms to report to the Financial Intelligence Unit real estate transactions in which virtual currency is used as payment. Similarly, real estate purchases or sales where “the funds used in the transaction are derived from a virtual asset” must also be reported. Identification Documents of Parties to the Transaction Must Be Recorded The United Arab Emirates (UAE) government has said it is introducing new reporting requirements for real estate transactions wherein virtual currency is…