Tag: Report

PayPal’s PYUSD Report Provides Valuable Insight Into The Stablecoin’s Performance So Far

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A new report has shown that the adoption of PayPal’s PYUSD stablecoin has seen less than favorable adoption rates since its inception. The crypto community remains skeptical about employing the new stablecoin for daily crypto payments and has opted for top competitor stablecoins like USDT and USDC.  PYUSD Experiences Sluggish Adoption Rate Global payments giant PayPal released its transparency report for its stablecoin, PYUSD, and the analysis of the report reveals that the PYUSD stablecoin may not be seeing as much adoption as PayPal and PYUSD stablecoin issuer, Paxos hoped…

Judges weigh early release for Sam Bankman-Fried as lawyers push First Amendment issues: Report

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A three-judge panel from the United States Court of Appeals for the Second Circuit has reportedly taken arguments from lawyers representing former FTX CEO Sam Bankman-Fried (SBF) under advisement in considering releasing him from jail prior to his October trial.  SBF’s defense team and the U.S. Attorney’s office were each given roughly five minutes to argue before a panel of judges on Sept. 19. One of the judges reportedly claimed SBF’s legal team’s First Amendment argument “has no play anymore” based on Bankman-Fried’s alleged attempts to intimidate witnesses including Caroline Ellison, the…

UK FCA Says It Made Crypto Firms, Banks Chat in Debanking Report Addressing Nigel Farage Allegations

The report, which follows allegations from broadcaster and former politician Nigel Farage that his bank account was shuttered over his political views, said “the most common reported reasons for personal and business account applications being declined, suspended or terminated were financial crime suspicions identified, due diligence concerns, and inactive/dormant accounts.” Source

Lawyer who laundered $400M from OneCoin scam denied new trial: Report

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The lawyer responsible for laundering $400 million from the OneCoin fraud has been denied a motion seeking a new trial, despite a prosecution witness having perjured themselves in the trial against him in 2019. According to a Sept. 18 report from Bloomberg, 54-year-old lawyer Mark Scott argued that he didn’t know OneCoin was a fraudulent operation at the time and should not be charged for his role in setting up the fund that laundered money for OneCoin founder Ruja “Cryptoqueen” Ignatov.  Scott was found guilty of money laundering and bank…

Crypto wallet market to grow by $686m by 2026: report

The market research firm Technavio’s new report shows that the crypto wallet market will grow by $686 million by 2026. The report is called “Crypto Wallet Market by Product and Geography – Forecast and Analysis 2022-2026.” Technavio estimates that the potential growth of the crypto wallet market from 2021 to 2026 will be over $686 million. This growth is driven by people’s increasing interest in digital currencies, which offer faster and cheaper bank transfers, a surge in e-commerce, higher currency transactions in low-income nations, and a rise in international remittances.…

Crypto Whale Withdraws $116,000,000 Worth of One Altcoin That’s Up 222% in Past Month From Exchanges: Report

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A wealthy altcoin holder just withdrew nine figures worth of an Ethereum (ETH)-based crypto asset from exchanges right after parabolic rallies. First spotted by crypto reporter Colin Wu, a whale that controls 21% of the supply of Tellor Tributes withdrew roughly $116 million worth of TRB tokens from exchanges. “A whale (3 associated addresses) has withdrawn a total of 872,600 TRB (currently worth $116 million) from exchanges since August 30, accounting for 34.5% of the circulating [supply]. On September 4th, 9th, and 15th, three TRB transfers of 100,000 were conducted…

Scaramucci leads bidding for Silicon Valley Bank VC arm: Report

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SVB Financial Group, the former parent company of Silicon Valley Bank is getting closer to a deal that will see the institution sell its venture capital arm SVB Capital. According to a Sept. 15 report from the Wall Street Journal — citing sources familiar with the matter — Anthony Scaramucci’s SkyBridge Capital and Atlas Merchant Capital are jostling with the San Francisco firm Vector Capital in the final stages of the bidding process. Sources claimed that SVB’s venture capital arm could be sold off for between $250 million and $500…

NRL and Youtube stars reach settlement in FTX class-action lawsuit: Report

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NRL quarterback Trevor Lawrence and YouTube influencers Kevin Paffrath and Tom Nash have reportedly settled a lawsuit over alleged inadequate compensation disclosure in their promotions for the now-defunct cryptocurrency exchange FTX. According to a Sept. 16 Bloomberg report, the three high-profile individuals have entered proposed agreements, however the settlement terms were not disclosed. Among the high-profile celebrities and influencers entangled in the class-action lawsuit, Lawrence, Paffrath and Nash are the first to reportedly reach a settlement. Related: Influencer served settlement demand via NFT following $7M token presale Other celebrity defendants in…

Sam Bankman-Fried says, ‘I did what I thought was right,’ in leaked docs: Report

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Former FTX CEO Sam Bankman-Fried, facing multiple criminal charges related to alleged misuse of user funds, reportedly denied many of the allegations against him in documents containing a draft of a thread on X (formerly Twitter) that he never posted.  According to a Sept. 14 report from The New York Times, documents provided by crypto influencer Tiffany Fong revealed details about Bankman-Fried’s life while under house arrest as well as his thoughts on the legal team handling FTX’s bankruptcy case. The former CEO, who also goes by SBF, reportedly drafted…

Germany’s blockchain funding increased by 3%, report says

The Crypto Valley Venture Capital (CVVC) has released the German Blockchain Report 2023. It shows a significant increase in blockchain funding within the country. The report analyzes the performance of the blockchain sector in Germany from Q3 2022 to Q2 2023. It shows that the German blockchain sector had a 3% year-on-year increase in funding in the blockchain industry. Germany had a total investment of $355 million in venture capital funding over 34 deals. The report also highlighted that the country reached its record on global funding, attracting 2.4% of international blockchain…