Tag: Report

Google accused of illegally terminating contract staffers who worked on AI: Report

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Google and Accenture, who have a joint business venture, are being accused by the Alphabet Workers Union of being in violation of federal labor laws in the United States, according to a Bloomberg report.  The union claims that Alphabet Inc. acted against a law that prohibits retaliation against employees for organizing, the report says, citin an Aug. 3 complaint from the union to the U.S. National Labor Relations Board. Allegedly, Alphabet ended contract employment for a majority of Google Help workers as they were in the process of unionizing. The…

Nearly half of crypto copy traders are Gen Z, says Bitget report

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Generation Z crypto investors are more likely to engage in copy trading or social trading, an investment method that involves mirroring someone else’s trades, according to a report from crypto exchange Bitget. In an Aug. 3 report on copy trading by Bitget, the firm revealed that out of all of its copy traders, 44% of them were under 25 years of age. This was followed by 25- to 35-year-olds, who accounted for just under one-third of all copy traders. The older generation, 35- to 55-year-olds, made up 17% of copy…

Individual charged with money laundering admits to hacking Bitfinex in 2016: Report

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One-half of the couple alleged to have laundered billions of dollars worth of cryptocurrency has reportedly admitted he was behind the 2016 Bitfinex hack. According to an Aug. 3 CNBC report, Ilya Lichtenstein told a U.S. court he was the individual behind an exploit of cryptocurrency exchange Bitfinex in 2016 that resulted in the theft of roughly 119,754 Bitcoin (BTC). Lichtenstein spoke as part of a plea agreement with prosecutors, who charged him and his wife, Heather Morgan, with money laundering conspiracy and conspiracy to defraud the United States. At…

Justice Department May Charge Crypto Exchange Binance With Fraud: Report

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A legion of Twitter bots pumped the price of crypto tokens traded by Sam Bankman-Fried’s quant trading firm Alameda Research shortly after FTX listed the tokens, according to a report from the Network Contagion Research Institute. NCRI, an institution that studies cybersecurity and social-media threats, published a report on Wednesday that shows that “inauthentic chatter” on Twitter, now X, heavily influenced the prices of five FTX-listed tokens traded by Alameda insiders. The coins were BOBA, GALA, IMX, RNDR and SPELL. Fake tweets regarding the coins surged — by as much…

MicroStrategy will buy more Bitcoins, Q2 report says

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied MicroStrategy plans to sell 750 million shares of stock to acquire more Bitcoin (BTC). Its current portfolio holds a total of 152,800 BTC. The company reported its intention to acquire more BTC in an SEC filing on August 1. MicroStrategy reported $22.2 million in net income, increasing its revenue by far compared to last year’s period, with a net loss of 1.1 billion. The company had 152,800 bitcoins by July 31, valued at 4.5 billion USD.…

KPMG touts ESG benefits from Bitcoin, counters misperceptions in new report

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KPMG has released a report on Bitcoin and ESG (environment, social and governance) issues. The professional services firm, one of the world’s Big Four, found that Bitcoin “appears to provide a number of benefits across an ESG framework.” Looking at each component of ESG separately, the report noted that emissions is a more significant indicator of environmental damage than energy usage. It contextualized Bitcoin (BTC) emissions in relation to those of other sources that ranged from tobacco to tourism and found it was the second smallest contributor behind “Video (US).”…

US DoJ is concerned about a run on Binance should prosecutors bring fraud charges: Report

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The United States Department of Justice is reportedly considering charging cryptocurrency exchange Binance with fraud, but hesitating based on costs to consumers. According to an Aug. 2 Semafor report citing people familiar with the matter, Justice Department officials are concerned about an indictment against Binance causing a run on the exchange similar to what happened with FTX in November 2022. They are reportedly considering fines or non-prosecution agreements for Binance rather than criminal charges in an effort to reduce the harm to consumers. Binance was already reportedly the target of…

Worldcoin to allow government and businesses to use ID system: Report

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Worldcoin plans to expand its operations to allow governments and businesses to utilize its iris-scanning and identity-verifying technology in an effort to sign up more users, according to a Reuters report. According to the report, Ricardo Macieira, the general manager for Europe at Tools For Humanity — which is behind the Worldcoin project — said that the company is on a mission of “building the biggest financial and identity community” possible. “The idea is that as we build this infrastructure and that we allow other third parties to use the…

Ripple CEO slams SEC over use of XRP report in lawsuit

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Ripple CEO Brad Garlinhouse on August 2, expressed his disapproval of the United States Securities and Exchange Commission (SEC) for utilizing Ripple’s quarterly XRP Markets Report, designed to enhance transparency in the cryptocurrency industry, as evidence against the company in the ongoing lawsuit.  Garlinghouse stated that the company initiated the reports with the intention of voluntarily offering updates on their XRP holdings. However, the CEO said, these reports were later “used against” the company in the SEC lawsuit. Garlinghouse reiterated the company’s commitment to transparency but hinted that future reports…