Tag: Report

Axie Infinity’s Gaming Sidechain Is Bigger Than Many Major L1s by Volume: Nansen Report

A farming simulator clogged a popular blockchain for days on end last week. Now a new research report from blockchain analytics firm Nansen sheds light on a possible solution. Ronin, a layer 2 from Axie Infinity developer Sky Mavis devoted solely to the game, processed 560% more total transactions than Ethereum at its peak in November, the report found. And while that figure has since retreated, the sidechain is still processing more than up-and-coming networks like Fantom and Avalanche. Nansen data journalist Martin Lee said the report offers a glimpse…

Government Report Suggests Tightening Regulations on Crypto ATMs

The GAO’s findings that crypto-enabled crime is rising are at odds with a new report from crypto research firm Chainalysis, which found that although crypto crime is increasing by volume, it reached an all-time low as a percentage of all blockchain transactions in 2021. In other words, as cryptocurrencies has become more mainstream, crypto crime will continue to rise, but the growth in above-board crypto transactions is outpacing illicit activity. Source

JPMorgan Report States Ethereum Might Lose Defi Dominance Due to Scaling Issues – Bitcoin News

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A note from JPMorgan states that Ethereum might be at risk of losing defi dominance as a result of its inability to produce effective scaling solutions fast. The note, written by Nikolaos Panigirtzoglou, managing director of global markets strategy at the firm, further stated that other new smart contracts-enabled blockchains are the ones taking this market share, instead of Ethereum sidechains or other Ethereum-based solutions. Ethereum Dominance at Stake According to JPMorgan A note from JPMorgan states that Ethereum might keep losing dominance in the field of decentralized…

UK lawmakers form crypto advocacy group for parliament: Report

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Lisa Cameron, a member of parliament for the United Kingdom’s House of Commons, is reportedly chairing a lobbying group aimed at promoting crypto-related legislation in government. According to a Friday report from the Financial Times, members of parliament, as well as members of the House of Lords in the United Kingdom, launched the Crypto and Digital Assets Group to ensure rules for the crypto industry in the U.K. “support innovation” as of last week. The cross-party group aims to protect investors from financial crimes, including token scams or offerings from regulated…

ImmuneFi report $10B in DeFi hacks and losses across 2021

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Decentralized finance, or DeFi, security platform and bug bounty service ImmuneFi published an official report on Thursday which calculated the total volume of losses in the cryptocurrency markets in 2021. According to its report, the company found that losses resulting from hacks, scams and other malicious activities exceeded $10.2 billion dollars over the past year. Responsible for protecting over $100 billion worth of assets for a number of well-established DeFi protocols, including Synthetix, Chainlink, SushiSwap and PancakeSwap, among others, ImmuneFi has regularly facilitating seven-figure pay-outs to whitehat hackers and other…

Chinese crypto miner BIT Mining ‘unlikely’ to flee Kazakhstan: Report

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Despite major internet blackouts amid anti-government protests in Kazakhstan, some Bitcoin (BTC) miners operating in the country are not planning to leave the country just yet. BIT Mining, one of the largest BTC mining companies that relocated operations from China to Kazakhstan last year, is still evaluating the impact of political unrest in Kazakhstan, Chinese industry news agency 8BTCnews reported Friday. “It is unlikely that our mining machines will be evacuated to North America,” a spokesperson for BIT Mining reportedly said, adding that the firm will be closely monitoring the situation. The…

Crypto Investors in Thailand to Pay 15% Capital Gains Tax, Report Unveils – Taxes Bitcoin News

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Crypto-related profits, such as those resulting from the trading of digital currencies, will be taxed at a rate of 15%, a finance ministry official has revealed to the local press in Thailand. After last year’s significant market growth, the department intends to improve surveillance of crypto trade in 2022. Thailand Urges Crypto Traders to Report Profits on Tax Returns The Ministry of Finance in Thailand advises investors to indicate their income from crypto holdings when they file their tax declarations this year, the Bangkok Post reported on Thursday. Capital gains…

GameStop Surges Following Report It’s Launching NFT Marketplace

Shares of GameStop (GME), the original meme stock that stoked retail investor frenzy in buying highly volatile stocks last January, surged as much as 31% in after-market trading Thursday after the Wall Street Journal reported that the company is launching a division to build a marketplace for non-fungible tokens (NFT) and to establish cryptocurrency partnerships. The video-game retailer hopes the new unit will lead its turnaround efforts to become profitable, the newspaper said, citing people familiar with its plans. GameStop’s plan calls for it to build an online hub for…

Fed’s Minutes Report ‘Bludgeons’ Global Markets — Stocks, Crypto, Precious Metals Slip in Value – Economics Bitcoin News

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Minutes from the U.S. Federal Reserve’s policy meeting on December 14-15 show that the central bank is being persistent about unwinding quantitive easing (QE) tactics and that it views ultra-low interest rates as no longer necessary. Global markets immediately dropped after the news was published as stock markets roiled, crypto markets shed billions, and precious metals like gold slipped a hair in value as well. US Central Bank Policy Meeting Suggests the QE and Low-Interest Rate Fiesta Is Coming to an End, Global Markets Lose Billions Recently published notes from…

Tencent Adds Digital Yuan Support to WeChat Pay Wallet: Report

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