Tag: Report

Blockchain Earnings Take A Dip — 16% Drop In Just 1 Month: Report

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Tron pulled ahead of rivals in blockchain earnings last year, generating $3.6 billion, a figure that highlights how stablecoin activity can outweigh sheer market value when it comes to network income. According to Token Terminal, that tally places Tron well above larger rivals on pure revenue terms. Tron Tops Revenue Charts Tron’s lead stems largely from stablecoin settlements, with reports showing about 51% of circulating Tether USDT has been issued on the Tron network. Ethereum, by comparison,…

London Stock Exchange May Gain Stamp Duty Exemption for New Listings: Report

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The UK Treasury is reportedly considering a temporary exemption from stamp duty for shares of newly listed companies on the London Stock Exchange, as Financial Times reported. The measure is part of efforts to support the city’s public markets, which have seen lower listing activity compared with some smaller international exchanges. The proposed exemption would remove the 0.5 per cent tax on share purchases for companies that have recently floated. Sources indicate it could apply for two to three years following a company’s listing. Shares issued at the point of…

Memecoin Profits Flow to Platforms, Not Traders: Report

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Memecoins may attract new users to blockchains, but the profits largely flow to the platforms that launch and trade the tokens, according to a new report from Galaxy Research. The study released on Wednesday shows that while most traders lose money in a short-term gambling market, infrastructure providers such as launchpads, decentralized exchanges and trading bots capture millions in revenue by facilitating memecoin trading. Solana’s Pump.fun, a memecoin launchpad that debuted in early 2024, has been a major beneficiary, with tokens on the platform representing a combined $4.8 billion in…

Singapore, UAE Rank as Most Crypto-Obsessed Nations: ApeX Report

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Singapore and the United Arab Emirates rank globally as the most “crypto-obsessed” nations, according to a recent report by ApeX Protocol. Singapore claimed the number one spot with a composite score of 100, driven by 24.4% of its population owning crypto and leading the world in search activity, with 2,000 crypto-related queries per 100,000 people. In 2021, only 11% of Singaporeans held digital assets, but that figure more than doubled by the following year. Close behind, the UAE scored 99.7, ranking first globally for crypto ownership at 25.3%. The Gulf…

SoftBank, ARK Eye Stake in Massive Tether Fundraise: Report

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At least two high-profile investment companies are reportedly vying to back stablecoin issuer Tether as it looks to sell roughly 3% of its equity — a move that underscores pent-up investor demand for one of the world’s most profitable companies. According to Bloomberg, venture capital giants SoftBank Group and ARK Investment Management are among potential investors considering a combined investment of up to $20 billion in Tether.  As Cointelegraph reported this week, if successful, the funding round could value the company at up to $500 billion, placing it among the…

Kraken Raises $500M at $15B Valuation Amid Rising IPO Buzz: Report

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Kraken has reportedly raised $500 million at a $15 billion valuation, strengthening its financial position amid growing speculation that the cryptocurrency exchange is preparing for an initial public offering (IPO). The funding was first reported by Fortune, which cited a source close to the negotiations in a profile on co-CEO Arjun Sethi. The source claimed that Kraken closed the round earlier this month. When contacted by Cointelegraph for confirmation, a Kraken representative declined to comment. The raise and valuation are broadly in line with Cointelegraph’s reporting in July, which revealed…

Kraken Secures $100M in Funding: Report

Key Notes Kraken secured $100 million in a funding round at a $15 billion valuation. Co-CEO Arjun Sethi is bullish on tokenized assets and DeFi integration. The exchange recently donated $2 million to pro-crypto political groups. Cryptocurrency exchange Kraken has successfully closed a $100 million funding round, according to a Fortune report published on Sept. 25. The raise, which values the company at $15 billion, is a major milestone as Kraken accelerates its push toward an eventual public listing. The new funding, coming after years of relying on relatively little…

Ex-Binance CEO CZ Criticizes FT Report On YZi Labs, Calls It A ‘Negative Narrative’

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Former Binance CEO Changpeng Zhao, commonly known as CZ, has found himself at the epicenter of a new controversy following a recent report by the Financial Times regarding his Web3 and artificial intelligence (AI) venture, YZi Labs.  CZ Denies Financial Times Report  The report suggested that Zhao was planning to open a substantial $10 billion portfolio to outside investors, a claim that has sparked a vigorous denial from the former executive of the world’s largest cryptocurrency exchange. According to the Financial Times, Ella Zhang, head of YZi Labs, acknowledged strong…

Crypto.com Responds To Report On Undisclosed User Data Leak

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Crypto exchange Crypto.com has denied that it kept a 2023 data leak of user details a secret from authorities.  Bloomberg reported on Friday that Noah Urban, a member of the hacking group Scattered Spider, said the group had phished their way into gaining access to a Crypto.com employee’s account sometime before early 2023, which exposed the personal information of some users.  Blockchain investigator ZachXBT then claimed on X that Crypto.com had “covered up a breach that impacted the personal information of your users,” adding that Crypto.com had been “breached several…