Tag: Report

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

boss

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 “A whale (3 associated addresses) has withdrawn a total of 872,600 TRB (currently worth $116 million) from exchanges since August 30, accounting for 34.5% of the circulating [supply].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

boss

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

boss

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

boss

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…

Japan to allow start-ups to raise funds by issuing crypto instead of stocks: Report

boss

The Japanese government reportedly plans to permit start-ups to raise public funds through the issuance of crypto, assets, such as currencies, instead of stocks, local media has reported.  According to Japanese financial news site Nikkei.com, this updated system is specifically applicable to a category of funds known as Investment Business Limited Partnerships (LPS). So far, Japan has lagged behind the rest of the world on embracing digital assets. However, this has been changing in recent months. Japan’s primary financial regulatory authority, the Financial Services Agency (FSA), made a significant move…

Germany’s blockchain funding increases 3% amid market downturn: Report

boss

Germany has reached an all-time high in global venture capital funding share in 2023 despite a decline in the overall performance of the blockchain market across the globe, according to a report published by Crypto Valley Venture Capital (CVVC).  Within CVVC’s report titled “The German Blockchain Report 2023,” the country’s blockchain sector recorded a total of $355 million invested across 34 deals. This represents a 3% year-over-year (YoY) increase in funding for the Western European country, according to the CVVC. State of German venture capital funding in 2023. Source: CVVC Apart…

Two more top executives depart Binance.US amid layoffs, SEC action: Report

boss

Two more top executives are leaving Binance.US, one day after the departure of CEO Brian Shroder and the layoff of a third of its staff, The Wall Street Journal reported. Binance.US is the United States offshoot of the international cryptocurrency exchange. Head of legal Krishna Juvvadi and chief risk officer Sidney Majalya were said to be leaving. Juvvadi was hired in May 2022, coming from Uber, where he was global head of compliance. Majalya joined the company in December 2021 after being Intel’s chief compliance officer. Before Intel, he, too,…

South Korean Bitcoin lender Delio plans to sue regulators: Report

boss

South Korean Bitcoin lender Delio is reportedly preparing for an administrative lawsuit against regulators for the wrong interpretation of law leading to an investigation and hefty fine against the crypto lending firm. Bitcoin lender Delio said the allegations of fraud and embezzlement levied by the Financial Service Committee (FSC) are baseless, according to a report published in a local daily.  The crypto lender claimed that the regulator implied the law unreasonably in a situation where there were no clear regulations for virtual asset deposit and management products. The report revealed…