Tag: Report

Crypto fund worth $500M eyes Animoca Brands and Chainalysis: Report

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C1 Secondaries Fund, which has assets worth $500 million, is looking to invest in crypto firms such as Animoca Brands and Chainalysis as crypto markets continue their bullish momentum. Citing a pitch deck, the Australian Financial Review report on Dec. 10 said the Silicon Valley and United Arab Emirates-based fund is prepared to write $20 million to $50 million cheques to buy private holdings in crypto companies with a valuation of $300 million and above in its last funding round. Animoca Brands’ last capital raise sold shares at around $4.50. However, the C1 Fund,…

Less than 2% of El Salvador’s population holds crypto: Report

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In spite of the continuous efforts by the government of El Salvador to promote widespread cryptocurrency adoption within the nation, a recent CoinGecko report highlights the limited number of crypto owners in the country. Published on December 7, the report reiterates that El Salvador stands alone as the only country in the world actively using crypto as legal tender. However, a relatively small percentage of its population currently hold Bitcoin (BTC):  “Despite these progressive measures, Bitcoin adoption in El Salvador remains relatively low.” According to data from Triple A, approximately…

NFT trading volume nears $1B as markets turn bullish: Report

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As crypto markets turn bullish, nonfungible token (NFT) trading has started to join the wave, with volume nearing $1 billion in November, according to data published by the decentralized app tracking platform DappRadar.  The report highlighted that the NFT industry maintained upward momentum for the second month in a row. Trading volume surged by 125% in November, suggesting a shift in user behavior compared to earlier downturns in NFT trading. NFT trading volume and sales count data. Source: DappRadar On Nov. 6, analytics firm Nansen reported that NFT sales volumes…

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…