Tag: Report

Cango sells legacy China business, goes all-in on Bitcoin mining: Report

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Cango, a publicly traded Chinese conglomerate, has agreed to sell its legacy China operations to an entity associated with peer Bitmain in a bid to go all-in on Bitcoin (BTC) mining, according to a report by The Miner Mag.  Cango agreed to sell its legacy Chinese auto financing business to Ursalpha Digital Limited in a $352 million deal, according to the report.  Additionally, Bitmain is reportedly transferring 32 exahashes per second (EH/s) to Cango. The deal effectively brings Bitmain’s mining assets to the public market, The Miner Mag said. Exahashes…

Former New York governor advised OKX over $505M federal probe: Report

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Cryptocurrency exchange OKX reportedly hired former New York Governor Andrew Cuomo to advise it over the federal probe that resulted in the firm pleading guilty to several violations and agreeing to pay $505 million in fines and penalties. Cuomo, a New York-registered attorney, advised OKX on legal issues stemming from the probe sometime after August 2021 when he resigned as New York overnor, Bloomberg reported on April 2, citing people familiar with the matter. “He spoke with company executives regularly and counseled them on how to respond to the criminal…

Trump-affiliated crypto mining venture mulls IPO — Report

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American Bitcoin Corp., a Trump family-backed crypto mining operation, has plans to raise additional capital, including through an initial public offering (IPO), according to an April 1 report by Bloomberg.  On March 31, Hut 8 — a publicly traded Bitcoin (BTC) miner — acquired a majority stake in American Bitcoin (formerly American Data Centers), whose founders include Donald Trump Jr. and Eric Trump.  After the deal announcement, Hut 8 transferred its Bitcoin mining equipment into the newly created entity, which is not yet publicly traded.  While American Bitcoin will focus…

Japan to classify cryptocurrencies as financial products: Report

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Japan’s finance regulator is planning to change the country’s laws to classify cryptocurrencies as financial products as early as 2026, according to the local outlet Nikkei. The Financial Services Agency (FSA) plans to submit a bill to parliament to revise the Financial Instruments and Exchange Act as early as next year after having considered the changes through internal study groups, Nikkei reported on March 30 without citing a source. The outlet reported that the details are still being finalized, but the change would see cryptocurrencies likely put under insider trading…

South Korea sees crypto investors top 16 million: report

According to data submitted to Rep. Cha Gyu-geun of the Rebuilding Korea Party, South Korea’s cryptocurrency investors reached 16.29 million as of February. This figure represents nearly 32% of the country’s population. The data, compiled from accounts at the country’s top five domestic virtual asset exchanges – Upbit, Bithumb, Coinone, Korbit, and Gopax – shows consistent growth throughout 2024. The number of crypto investors first surpassed 14 million in March 2024. Following Donald Trump’s election as U.S. President in November, another 500,000 people entered the market, pushing the total beyond…

Report: Sundays See Bitcoin Trading Spike Linked to Institutional Market Hours

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Bitcoin’s weekend trading liquidity is staging a recovery in 2025, hinting at a possible turnaround after years of decline, per a Kaiko Research analysis. 2025 Data Shows Bitcoin Regaining Weekend Momentum, Leading Crypto Asset Still Lagging Behind Gold The study reveals bitcoin’s average daily 1% market depth—a measure of liquidity—tends to dip midweek, hitting lows […] Original

President Donald Trump Pardons the Three Co-Founders of the Crypto Exchange BitMEX: Report

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President Donald Trump is reportedly pardoning the three co-founders of the crypto exchange BiTMEX, including prominent crypto investor Arthur Hayes. According to a new report by CNBC, Trump pardoned Hayes, Benjamin Delo and Samuel Reed on Thursday, nearly three years after they pleaded guilty to violating the Bank Secrecy Act by willfully failing to establish adequate anti-money laundering protocols. At the time, prosecutors accused the trio of operating BitMEX as if it were a “money laundering platform,” as instead of implementing typical Know Your Customer (KYC) verification standards, which are…

Donald Trump pardons three BitMEX co-founders — Report

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US President Donald Trump has reportedly issued pardons to three of the co-founders of the cryptocurrency exchange BitMEX, who had pleaded guilty to felony charges. According to a March 28 CNBC report, Trump granted pardons to Arthur Hayes, Benjamin Delo and Samuel Reed, who were facing a range of criminal charges related to money laundering or violations of the Bank Secrecy Act. Hayes and Delo pleaded guilty in February 2022, admitting they “willfully fail[ed] to establish, implement and maintain an Anti-Money Laundering program” at BitMEX, while Reed entered a plea…

Elon Musk’s ‘government efficiency’ team turns its sights to SEC: Report

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The Department of Government Efficiency team — or DOGE, which is not an official US government department — led by Tesla CEO Elon Musk is reportedly moving into the Securities and Exchange Commission (SEC). According to a March 28 Reuters report, Musk’s DOGE team contacted the SEC and was told it would be given access to the commission’s systems and data. The agency reportedly planned to establish a liaison team to work with the “efficiency” team, whose intentions were not immediately clear. “Our intent will be to partner with the…

$11,500,000,000,000 BlackRock Launches Bitcoin (BTC) Exchange-Traded Product in Europe: Report

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BlackRock, the world’s largest asset manager, launched its first European Bitcoin (BTC) exchange-traded product (ETP) on Tuesday. According to a Bloomberg report, the iShares Bitcoin ETP (iB1T) began trading on Euronext Paris, Euronext Amsterdam, and Germany’s Xetra exchange, offering institutional and retail investors regulated exposure to Bitcoin’s price performance. The product is physically backed by Bitcoin and secured through Coinbase Custody International Ltd., according to the report. Manuela Sperandeo, BlackRock’s head of Europe & Middle East iShares Product, characterized the launch as a significant industry milestone. “It reflects what really…