Tag: Report

Coinbase sought FTX Europe acquisition after bankruptcy: Report

boss

Crypto exchange Coinbase attempted to acquire FTX Europe twice since it filed for bankruptcy in November 2022, hoping to broaden its derivatives business overseas. The company, however, has decided not to go forward with the deal, Cointelegraph has learned.  According to a report from Fortune, Coinbase explored acquiring FTX’s European arm on two occasions, in November 2022 — following its parent company’s dramatic debacle — and in September 2023. A spokesperson for Coinbase confirmed the report: “We’re always evaluating opportunities to strategically expand our business and meet with many teams…

Bitcoin mining can help reduce up to 8% of global emissions: Report

boss

A paper published by the Institute of Risk Management (IRM) concluded that Bitcoin (BTC) has the potential to be a catalyst for a global energy transition.  IRM Energy and Renewables Group members Dylan Campbell and Alexander Larsen published a report titled “Bitcoin and the Energy Transition: From Risk to Opportunity.” The paper argued that while BTC was perceived as a risk because of its energy consumption, it can also catalyze energy transition and lead to new solutions for energy challenges worldwide. Within the report, the authors also highlighted the important…

Investors buy $250M of FTX claims — Report

boss

The bankruptcy claims market has been growing bullish on the debts of the collapsed cryptocurrency exchange FTX as major credit investors have been rushing to buy FTX debts. Investors like Silver Point Capital, Diameter Capital Partners and Attestor Capital have purchased more than $250 million worth of FTX debts so far in 2023, Bloomberg reported on Sept. 21, citing an in-house analysis of public court filings. The FTX debt has also attracted investors like Hudson Bay Capital Management, which reportedly bought a $23 million FTX claim and subsequently sold about…

India to develop dark net monitoring tool to combat crypto fraud: Report

boss

The Indian Ministry of Home Affairs (MHA) is reportedly developing a crypto intelligence tool in response to a rise in illegal activities around cryptocurrencies in the country.  According to a CNBC report, the MHA aims to combat crypto-related crime through the Cryptocurrency Intelligence and Analysis Tool (CIAT). The project is spearheaded by an MHA division called the Indian Cyber Crime Coordination Centre, which is dedicated to investigating and addressing cybercrime. With CIAT, the MHA will monitor crypto wallet addresses in the dark net. This will facilitate the compilation of transaction…

Report Says Ethereum Is Trading Well Below Fair Value, What’s The Correct Figure?

boss

Ethereum’s price may have been dealt a massive blow as a research report on the Ethereum valuation has revealed that the cryptocurrency giant has been trading below its fair price. Ethereum Trading Value Slips A new on-chain research report has delved deep into the fair value of the Ethereum cryptocurrency since its inception, segregating the cryptocurrency’s value into sections and utilizing its trading activities and active addresses to evaluate the network’s worth over the past years.  Lewis Harland, an RxR analyst, revealed in the research report that Ethereum has been…

Apple, Goldman Sachs drop plans for trading app: Report

boss

Apple and Goldman Sachs scrapped plans to launch an app for futures trading, CNBC reported on Sept. 19, citing people familiar with the plans.  The project had an initial rollout date for 2022, but it was put on hold last year as economic conditions deteriorated, with a rise in interest rates and inflation pressures driving investors away from risky assets. According to the sources, the project infrastructure was “mostly built” and is ready for launch if Apple proceeds with its original plan. Additionally, it is unclear whether Goldman and Apple…

Singapore Police report higher total involved in money laundering case

The Singapore Police Force is planning to take further action in response to the largest money laundering case in the country. Currently, cryptocurrencies valued at $26 million have already been seized in relation to the case. Major seizures It was reported in August that Singaporean authorities apprehended 10 foreign individuals, between the ages of 31 and 44, all of whom were holding Chinese passports. A new report from local media added the sum implicated in Singapore’s most extensive domestic money laundering investigation is now estimated to be $1.76 billion. In response, the official statement…

SEC Suffers Blow in Lawsuit Against Binance.US After Judge Denied Request To Probe Exchange’s Software: Report

boss

A US federal magistrate judge is reportedly choosing not to grant the U.S. Securities and Exchange Commission (SEC) permission to inspect the technological infrastructure of Binance’s American affiliate, a setback for the regulator. A new report from Bloomberg indicates the SEC asked Magistrate Judge Zia M. Faruqui on Monday for permission to search through Binance.US’s software, but Faruqui shot down the idea, saying he was not inclined to permit the inspection “at this time.” The judge told the regulator to come back with more specific requests, according to Bloomberg. The…

Stanford University, Home of Sam Bankman-Fried’s Professor Parents, Will Return ‘Gifts’ Donated by FTX: Report

CryptoX is a multi-platform publisher of news and information. CryptoXtrade has earned a reputation as the leading provider of cryptocurrency news and cryptomarket analysis, bitcoin and other cryptocurrencies, blockchain technology, finance and investments. CryptoXtrade have become a known leader in the cryptocurrency information market. We work only with trusted information sources providing latest financial and technological innovations that improves the quality of life of CryptoX readers by focusing on Cryptocurrency and Blockchain. CryptoX Portal

Parents of Sam Bankman-Fried Sued by FTX Estate Over Allegedly Siphoning Funds From Crypto Exchange: Report

boss

The parental guardians of former FTX CEO Sam Bankman-Fried are reportedly being sued by the crypto exchange’s bankruptcy estate for allegedly misappropriating funds. According to a new article from the Financial Times, Joseph Bankman and Barbara Fried are being sued by the FTX estate over allegedly siphoning funds from the now-bankrupt exchange. Says prosecutors, “As early as 2018, Bankman described Alameda as a ‘family business’ — a phrase he repeatedly used to refer to the FTX Group.” However, Bankman and Fried’s lawyers say the allegation is “a dangerous attempt to intimidate…