Tag: Report

Metaverse could be worth $5 trillion by 2030: McKinsey report

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Global spending in the metaverse could reach $5 trillion by 2030, according to a new report from international consulting firm McKinsey & Company.  Published yesterday, the 77-page report titled “Value Creation in the Metaverse” analyzed current adoption trends and drew additional insight from two global surveys; one gathered data from 3,104 consumers across 11 countries, while the other polled a range of executives from 448 companies across 15 industries in 10 different countries. McKinsey used this data to predict that the future of consumer behavior in the metaverse will most…

Binance CEO Changpeng Zhao Says Exchange Will Launch Big Hiring Spree During Crypto Bear Market: Report

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The world’s largest digital assets exchange is planning a hiring spree as some of its competitors slash jobs during the current crypto market downturn. According to a new report by Fortune, Changpeng Zhao, CEO of Binance, says that the company has secured the resources to hire more employees as well as focus on acquisitions. Zhao’s announcement comes at a time when other prominent crypto firms, such as Coinbase, Gemini, Crypto.com, and BlockFi all announced significant layoffs. “We have a very healthy war chest; we in fact are expanding hiring right…

FINRA may hire employees terminated from crypto firms: Report

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The United States Financial Industry Regulatory Authority, or FINRA, reportedly plans to “bulk up” its capability to monitor crypto — a move that could include scooping up employees recently terminated from crypto companies. According to a Tuesday Reuters report, FINRA president and CEO Robert Cook encouraged crypto workers who expect to be on the chopping block to reach out to the financial regulator as part of its efforts to increase resources related to the space. Major crypto exchanges in the United States including Coinbase and Gemini have announced plans to cut…

Illicit crypto usage as a percent of total usage has fallen: Report

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Illicit cryptocurrency activity in 2021 and the first quarter of 2022 has declined as a percentage of overall crypto activity, according to blockchain forensics firm CipherTrace. The cryptocurrency industry has long held a reputation in some jurisdictions as a haven for illegal activity. However, CipherTrace estimates that illicit activity was between 0.62% and 0.65% of overall cryptocurrency activity in 2020. The firm reported that it has now fallen to between 0.10% and 0.15% of overall activity in 2021. Source: CipherTrace In its Cryptocurrency Crime and Anti-Money Laundering Report released June…

EU Nears Agreement on Crypto Regulations, Report Reveals – Regulation Bitcoin News

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Authorities in the EU are moving closer to a deal on a legislative package tailored to comprehensively regulate the crypto market and related activities in Europe. According a media report, an agreement on the key legislation is likely to be reached as early as this month. Deal on EU Crypto Law Expected by End of June, Sources Say Representatives of relevant institutions in the European Union are approaching consensus on the Markets in Crypto Assets (MiCA) proposal aiming to introduce union-wide rules for the crypto industry, Bloomberg reported, quoting knowledgeable…

Bitcoin Slides As CPI Report Hints At Soaring Inflation

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As traders buckle down for the weekend, Bitcoin prices ushered in Friday’s session rather sluggishly. During European trading hours, Bitcoin stayed slightly around $30,000, displaying signs of weakening ahead of the U.S. consumer price index (CPI) release. The price of Bitcoin decreased on Friday after U.S. CPI data revealed that inflation was not abating. Suggested Reading | Ethereum Prices Down For 4th Straight Session As ETH Trades Below $1,800 Bitcoin Drops 1.6% Minutes After CPI Report In contrast to forecasts, the U.S. CPI increased last month, as indicated by the data.…