Tag: Report

Oman launches $350M crypto mining center: Report

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The Sultanate of Oman has launched a new cryptocurrency mining center, the second mining facility to open in the country in the past 10 months. According to a local publication, the Oman Daily Observer, a data hosting and cryptocurrency mining center, was opened in the Salalah Free Zone, which is a special economic zone in the country with low corporate taxes. A local company, Exahertz, will run the center in cooperation with Dubai-headquartered blockchain company Moonwalk Systems. The center reportedly cost 135 million Omani rials (roughly $350 million) to construct, and…

Friend.tech denies report that database of over 100K users was ‘leaked’

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The team behind the viral decentralized social media platform friend.tech has refuted a report which claimed that the personal information of more than 100,000 of its users was “leaked.”  The now-amended report, first posted by The Block, suggested that data posted by Banteg, a pseudonymous developer for Yearn Finance, was “leaked” information. The friend.tech team however clarified that the information came from scraping its public API. “It’s like saying someone hacked you by looking at your public Twitter feed,” the official friend.tech account argued. This is just someone scraping our…

China proposes to bring its social credit system to the metaverse: Report

China is reportedly looking to implement a system akin to its social credit system, but in the Metaverse and other online virtual worlds. Proposals viewed by POLITICO and reported on Aug. 20 show the state-owned telco China Mobile proposed a digital ID for all metaverse and online virtual world users that work with “natural characteristics” and “social characteristics.” The proposals say “to keep the order and safety of the virtual world” the ID would harbor a slew of personal information and identifiable signs including a person’s job and suggested such…

Ether Futures ETFs could all get approval at same time: Report

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The United States Securities and Exchange Commission (SEC) is likely to approve multiple applications for Ether futures exchange-traded funds (ETFs) at the same time, the Wall Street Journal reported, citing sources familiar with the matter.  Since July, the regulator has been flooded with applications from several investment firms, including requests combining futures Bitcoin (BTC) and Ether strategies. As of now, the SEC has not instructed the firms to withdraw their applications, a change from 2021 when firms were instructed to withdraw similar applications. This suggests that the regulator won’t block…

New Zealand parliamentary report advises against hasty crypto regulation

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While the cry for crypto regulation is becoming ever louder in much of the world, and regulation by enforcement is a controversy, a report prepared for the New Zealand Parliament has recommended a slow, agile approach. The report was commissioned by the Finance and Expenditure Committee of the New Zealand House of Representatives in 2021 and titled “Inquiry into the current and future nature, impact, and risks of cryptocurrencies.” Cowritten by a partner at the law firm MinterEllisonRuddWatts and a University of Auckland associate professor of commercial law, the 99-page…

North Korean hackers have stolen $2B of crypto since 2018: Report

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North Korean hackers continue to threaten the broader cryptocurrency ecosystem, having stolen an estimated $2 billion of crypto over the past five years. Blockchain intelligence firm TRM Labs released its latest deep dive into the murky world of cryptocurrency-related hacking, focusing on the exploits of North Korean cybercriminals. According to TRM Labs’ data, North Korea has stolen around $200 million of crypto in 2023, accounting for 20% of all stolen funds this year. North Korean cyberattacks are estimated to be 10 times larger than attacks by other malicious actors. Hackers…

Ethereum surges 11% after report SEC is set to approve Futures ETF

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The price of Ether (ETH) surged around 11% to $1,700 following news that the United States Securities and Exchange Commission is set to allow the first exchange-traded funds (ETFs) based on Ether Futures. According to an Aug. 17 report from Bloomberg — which cited anonymous sources familiar with the matter — the regulator does not look as though it will block the applications of nearly twelve companies, including ProShares, Volatility Shares, Bitwise and Roundhill, that have filed to launch Ether (ETH) futures ETFs in recent weeks. Breaking The SEC is expected…

SpaceX sold $373M worth of Bitcoin acquired in 2021-2022: Report

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Aerospace technology firm SpaceX reportedly sold roughly $373 million worth of Bitcoin (BTC) it acquired starting in 2021. According to an Aug. 17 report in the Wall Street Journal, SpaceX recorded $373 million worth of Bitcoin holdings on its balance sheet in 2021 and 2022, but has since sold the crypto asset. The news outlet reportedly viewed documents on the firm’s financials showing roughly $5.2 billion in total expenses for 2022, and $5.4 billion in 2021 and 2022 for acquiring property and equipment in addition to research and development costs.…

Crypto highlighted as ‘novel and complex’ risk to US banks: FDIC report

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Crypto-assets and their related activities present key risks to the United States banking system and warrant closer supervision, warns a leading U.S. financial regulator. For the first time, cryptocurrency was given a dedicated section in the Federal Deposit Insurance Corporation’s (FDIC) annual risk review, calling digital asset risks “novel and complex.” The Aug. 14 Risk Review 2023 report highlights what the FDIC argues are key risks to banks — and comes after it noticed an increased banking interest in crypto activities. What are the emerging risks facing the banking system?…

CoinDesk to lay off part of editorial staff in preparation for sale of stake: Report

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CoinDesk is reportedly planning layoffs in its editorial department ahead of the sale of a stake in the publication to investors, according to media reports.  TechCrunch wrote that CoinDesk CEO Kevin Worth sent an internal email warning that “several roles, predominantly in our media team, were impacted by a reduction in force.” Other sources estimated the staff reduction at 16% or 45%. A 45% cut would represent about 20 people, according to reports. According to the leaked email, an “all hands” meeting will be held at CoinDesk at 4:00 pm…