Tag: Report

Voyager customers targeted by scammers during 30-day withdrawal period: Report

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Scammers set their sights on Voyager Digital customers during the month-long window when they were able to withdraw some portion of their funds from the bankrupt crypto brokerage, Bloomberg reported, citing Darren Azman, a lawyer for the firm. Law enforcement has been notified of the situation, he added. Voyager customers withdrew $490 million between June 23 and July 22. That sum was almost 80% of the amount available, Azman said at a hearing of the Southern District of New York Bankruptcy Court held by telephone. According to Bloomberg, scammers used…

Curve Finance founder’s $100M debt could trigger a DeFi implosion: Report

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While Curve Finance is still weathering the aftermath of a recent $47-million hack, another issue concerning holders of the decentralized finance (DeFi) protocol’s token has surfaced on the internet, sparking theories on how a massive dump can potentially happen.  On Aug. 1, crypto research firm Delphi Digital published a Twitter thread detailing the loans taken by Curve Finance founder Michael Egorov that are backed by 47% of the circulating supply of Curve DAO (CRV). According to the research firm, Egorov has around $100 million in loans across various lending protocols…

Meta to launch AI chatbots with personalities to retain users: Report

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Meta, the parent company of Facebook and Instagram, plans to release artificial intelligence (AI) chatbots with human-like personalities as it focuses on user retention efforts, according to a report from the Financial Times.  On Aug. 1 the FT reported that people close to the matter said prototypes of the chatbots have been underway with the final products being able to hold discussions with users at a human level. The range of chatbots will be able to display different personalities and are expected to be released as early as next month,…

Crypto market loses $486M in July, most since 2022: Report

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The cryptocurrency market is having its worst month of 2023, according to a report from Web3 outlet De.Fi shared with Cointelegraph. Losses for July totaled $486 million, more than six times the total from 2022: Cryptocurrency losses comparing July 2022 and July 2023. Source: De.Fi The report comes on the heels of several high-profile hacks and exploits in the month of July and a flurry of legislative activity surrounding the nature of cryptocurrency and digital assets. With a current reported recovery total of only $6.15 million, nearly 99% of all…

German government watchdog launched Worldcoin probe in November 2022: Report

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The Bavarian State Office for Data Protection Supervision, or BayLDA, reportedly began an investigation into human identity verification project Worldcoin based on concerns over biometric data. According to a July 31 Reuters report, the German data watchdog launched a probe into Worldcoin’s activities starting in November 2022. Worldcoin, a project started with the intention of distinguishing real people from bots by providing retinal scans for identity verification, had more than 2 million sign-ups prior to the launch of its token in July. This retinal scan data reportedly drew the attention…

HSBC-Owned Hang Seng Bank Limits Crypto Companies to ‘Simple’ Accounts: Report

Crypto companies applying to operate in Hong Kong are struggling to open bank accounts due to limited staffing at the Securities and Futures Commission and reluctance from banks, even though there’s no ban on them offering services to crypto firms, CoinDesk previously reported. The Hong Kong Monetary Authority (HKMA), the central bank, has urged major lenders including HSBC, Standard Chartered and Bank of China to accept crypto exchanges as clients. Source

Coinbase CEO says SEC told it to delist everything but Bitcoin: Report

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Crypto exchange Coinbase was once told by the United State securities regulator to delist all cryptocurrencies on its platform except for Bitcoin (BTC), according to CEO Brian Armstrong. In a July 31 interview with the Financial Times, Armstrong revealed that the U.S. Securities and Exchange Commission wanted the exchange to delist the nearly 250 tokens on its platform prior to it filing a lawsuit against the exchange. At the time, the SEC reportedly said it believes “every asset other than Bitcoin is a security,” said Armstrong. “We said, well how…

SEC Asked Coinbase to Stop Trading in all Cryptocurrencies Other Than Bitcoin Before Suing: Report

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“They came back to us, and they said . . . we believe every asset other than bitcoin is a security,” Armstrong said according to the FT. “And, we said, well how are you coming to that conclusion, because that’s not our interpretation of the law. And they said, we’re not going to explain it to you, you need to delist every asset other than bitcoin.” Original

Ripple Report Foresees Blockchain Saving Financial Institutions $10 Billion By 2030

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Blockchain technology is continually reshaping the financial industry, offering promising transformations in transaction processing. Its potential is immense, as outlined in a recent report by digital payment network Ripple in collaboration with the United States Faster Payments Council (FPC). The report presents a robust case for blockchain’s role in expediting payment systems and the ensuing cost savings. But is the financial sector ready to embrace this emerging technology on a large scale? Financial Institutions To Embrace Faster Payment Systems With Blockchain The survey, which received inputs from 300 finance professionals…