Tag: Report

SEC discussing ‘key technical details’ with spot crypto ETF applicants: Report

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Officials with the United States Securities and Exchange Commission are reportedly discussing aspects of Bitcoin (BTC) exchange-traded funds, or ETFs, proposed by asset managers. According to a Dec. 7 Reuters report, industry insiders said the SEC and certain asset managers were discussing “key technical details” related to U.S. exchanges listing shares of a spot Bitcoin ETF. To date, the commission has never given the green light to any spot cryptocurrency exchange-traded product, instead postponing decisions on applications for the maximum allowable time. Memos released by the SEC in November showed…

Montenegrin official plans to extradite Do Kwon to the United States: Report

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Terraform Labs co-founder Do Kwon will reportedly be extradited to the United States rather than South Korea to face criminal charges. According to a Dec. 7 Wall Street Journal report citing people familiar with the matter, Justice Minister Andrej Milovic in Montenegro plans to grant U.S. officials’ request for extradition. Kwon was arrested in Montenegro in March and sentenced to four months in prison for using falsified travel documents but has also been charged in the U.S. and South Korea for his alleged role in the collapse of Terraform Labs.…

Terraform’s Do Kwon mounts last ditch effort to avoid extradition: Report

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Terraform Labs co-founder Do Kwon has launched his final attempt to appeal a Montenegrin court’s decision that could see him extradited from the country.  In a Dec. 6 report, local state media stated that lawyers for Kwon had officially appealed the Nov. 24 decision from the High Court of Podgorica, which approved that Kwon could be extradited to either the United States or South Korea pending a final decision by the Montenegrin Ministry of Justice. The Ministry of Justice will now consider the appeal and reexamine the initial extradition order…

US crypto firms spent more on lobbying in 2023 than before FTX collapse: Report

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Companies connected to the crypto and blockchain industry in the United States reportedly spent roughly $3 million more on lobbying in the first three quarters of 2023 than over the same period in 2022. According to a Dec. 5 Reuters report citing data from U.S. government transparency group Open Secrets, crypto firms spent roughly $19 million on lobbying from January to September 2023, roughly 19% more than they did over the same period in 2022. Coinbase reportedly led the spending on lobbying at more than $2 million, followed by Crypto.com,…

Brazil’s largest bank Itau Unibanco launches Bitcoin trading — Report

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Brazilian bank Itau Unibanco has launched a cryptocurrency trading service for its clients as part of its investment platform, Reuters reported on Dec. 4. Itau, the largest bank by assets in Brazil and one of the leading lenders in Latin America, is debuting crypto trading with Bitcoin (BTC) and Ether (ETH), digital asset head Guto Antunes reportedly said. In the future, the bank plans to add more cryptocurrencies for trading, he noted. “It starts with Bitcoin, but our overarching strategic plan is to expand to other crypto assets in the…

Coinbase market share grows outside US trading hours amid Binance saga: Report

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Following cryptocurrency exchange Binance reaching a substantial multi-billion-dollar settlement with United States regulators last week, an on-chain data analytics firm reported a surge in Coinbase’s market share. On November 21, Binance and the United States Department of Justice (DoJ) reached a settlement of $4.3 billion, settling allegations related to anti-money laundering. However, the legal challenges have led to other crypto exchanges seeing an increase in market share, according to research firm Kaiko Research. The firm recently published a report that indicates that Coinbase has seen an uptick in its trading…

North Korean hackers have pilfered $3B of crypto over past six years: Report

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According to United States cybersecurity firm Recorded Future, North Korean hackers have stolen around $3 billion in cryptocurrency since 2017, with more than half of that amount stolen in the past year alone. Recorded Future indicated in a recent report that the amount of stolen crypto equates to approximately half of North Korea’s entire military expenses for the year: “North Korean threat actors were accused of stealing an estimated $1.7 billion worth of cryptocurrency in 2022 alone, a sum equivalent to approximately 5% of North Korea’s economy or 45% of its military…

A new government report claims most Canadians regret investing in crypto assets

In 2023, the number of cryptocurrency owners in Canada decreased slightly, but the average holdings increased significantly. According to a report from the Ontario Securities Commission (OSC), 77% of respondents regret investing in crypto assets. While the number of Canadians able to provide a basic definition of cryptocurrency has grown from 51% in 2022 to 54% in 2023, only 34% of them now believe cryptocurrency “will play a key role in the future,” compared to 49% in 2022. However, despite the pessimism, 39% of respondents said their crypto portfolio was…