Tag: Report

US authorities monitor China-linked Bitcoin miners amid national security concerns: Report

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Officials within the United States government were reportedly keeping tabs on certain cryptocurrency mining operations with ties to China. According to an Oct. 13 report from The New York Times, many Bitcoin (BTC) data centers based in the U.S. can be traced directly to the Chinese government, raising concerns over operations in close proximity to military bases and other areas connected to national security. One of the sites reportedly being monitored by authorities was a mining operation in Wyoming near a Microsoft data center that supported some of the Pentagon’s…

Blockchain gaming sees $2.3B in investments year-to-date: Report

Blockchain gaming projects have seen $2.3 billion in investments in 2023, with the third quarter getting $600 million despite crypto market prices seemingly being in a bearish mood all year.  According to a report from the decentralized applications (DApp) tracking platform DappRadar, the first quarter of 2023 netted $739 million in investments, while the second and third quarters saw $973 million and $600 million, respectively. This shows that the blockchain gaming sector attracted a total of $2.3 billion in investments in the first three quarters of 2023. Investments in blockchain…

JPMorgan Chase Exceeds Expectations in Earnings Report for Q3 2023

JPMorgan figures for Q3 2023 exceeded expectations like it did in Q2. However, figures like revenue and EPS were higher last quarter. JPMorgan Chase (NYSE: JPM) has published an earnings report for the year’s third quarter. The reported figures show that JPMorgan scaled analysts expectations for profit in Q3 2023. JPMorgan Q3 2023 JPMorgan reported earnings per share (EPS) at $4.33 for the quarter, higher than the estimated $3.86. The bank also said its profit jumped to $13.15 billion, 35% higher than figures reported the year before. Company revenue also hit…

US Space Force pauses use of ChatGPT-like tools due to security fears: Report

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The United States Space Force has temporarily banned its staff from using generative artificial tools while on duty to protect government data, according to reports. Space Force members were informed that they “are not authorized” to web-based generative AI tools — to create text, images, and other media — unless specifically approved, according to an Oct. 12 report by Bloomberg, citing a memorandum addressed to the Guardian Workforce (Space Force members) on Sept. 29. “Generative AI “will undoubtedly revolutionize our workforce and enhance Guardian’s ability to operate at speed,” Lisa…

9 out of 10 Leading Exchanges Report September’s Slump

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Despite historically low returns in September, Bitcoin (BTC) ended the past month exceptionally well. Unfortunately, the same cannot be said for major centralized cryptocurrency exchanges whose spot trading volumes have declined for another consecutive month. According to data gathered by Finance Magnates Intelligence, the total turnover for the TOP 10 exchanges shrank by nearly $90 billion, or 25%. The decline was even more severe on a yearly scale, amounting to 68%. So far, it was the worst month in terms of volumes since the beginning of 2023. The total volume…

Circle admitted by judge as amicus curiae in SEC vs Binance lawsuit: Report

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A senior judge in the Columbian district court has reportedly signed multiple orders to clear pending motions in the ongoing lawsuit filed by the United States Securities and Exchange Commission against the crypto exchange Binance ahead of the crucial hearing. Among the key orders, the judge cleared an amicus brief filed by USD Coin (USDC) stablecoin issuer Circle right before the key hearing on Oct. 12. Circle filed a court motion on Sept. 29 in the ongoing SEC vs Binance lawsuit and had argued that assets pegged to the U.S.…

Coinbase spot trading volume falls by 52% compared to 2022: Report

The spot trading volume of Coinbase, one of the largest crypto exchanges in the United States, has dropped by more than half, highlighting a shift in interest in crypto trading.  Citing analysis from digital asset data provider CCData, mainstream media outlet Bloomberg reported on Oct. 11 that Coinbase registered around $76 billion in spot trading volume. Compared to its quarterly record for the third quarter of 2022, the new data shows a 52% drop in spot trading for Q3 2023. According to the report, the new numbers are the lowest they’ve…

LVMH Shares Down 6% after Disappointing Q3 2023 Earnings Report

The French giant attributed this decline to post-COVID-19 normalization, high inventory levels among retailers, and a slowdown in Hennessy cognac sales in the United States. LVMH, the world’s largest luxury conglomerate, experienced a significant drop in its shares on Wednesday following a disappointing financial earnings report for the third quarter (Q3) ending in September. The French luxury group, which controls popular brands like Louis Vuitton, Dior, Tiffany, and Bulgari, unveiled its third-quarter results and nine-month figures after the market closed on Tuesday, showing a 9% increase in sales for Q3,…

iFinex proposes $150M share buyback from Bitfinex hack victims: Report

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Bitfinex’s parent company, iFinex, has proposed buying back $150 million worth of the company’s shares from users who were offered them as compensation for the $71 million hack on the Bitfinex crypto exchange in 2016, according to Bloomberg. IFinex revealed its plans to buy back $150 million worth of shares in a shareholder letter dated Sept. 22. The digital asset firm offered a price of $10 per share to shareholders for the 15 million shares distributed in the aftermath of the 2016 Bitfinex hack. Bitfinex lost nearly 36% of the user…

JPMorgan debuts tokenization platform, BlackRock among key clients: Report

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American banking giant JPMorgan debuted its in-house blockchain-based tokenization application, the Tokenized Collateral Network (TCN), on Oct. 11, according to Bloomberg. TCN settled its first trade for asset management giant BlackRock. Tokenized Collateral Network is an application that allow investors to utilize assets as collateral. Using blockchain technology they can transfer collateral ownership without moving assets in underlying ledgers. The TCN network in its first public collateralized trade between JP Morgan and BlackRock turned shares of one money market fund into digital tokens, which were then transferred to Barclays Plc as…