admin • Hindenburg Research has taken a short position in Block, a company led by Jack Dorsey. • The research reveals that the company has inflated user metrics and enabled insiders to cash out more than $1 billion when share prices were near the top. • Following the announcement, Block’s shares fell some 15% on Thursday. … Read more
• South Korea’s leading crypto exchanges are ready to renew their banking deals. • Bithumb is close to sealing an agreement with NongHyup Bank (NH Bank). • Other “big four” exchanges – Coinone, Upbit and Korbit have already sealed deals with Kakao Bank, K Bank and Shinhan Bank respectively. South Korean Crypto Exchanges Set To … Read more
Overview • Russian anti-money laundering regulator says it is “monitoring” over 25,000 crypto users • Advanced blockchain analytics software has helped the body increase its monitoring capabilities • Rosfinmonitoring has conducted 120 crypto-related investigations leading to more than 60 criminal prosecutions Russian AML Regulator Monitoring Thousands of Crypto Users Yury Chikhanchin, the head of the … Read more
Brazil’s Financial Markets Regulator (CVM) to Roll Out Crypto Laws CVM to Determine Which Tokens are Securities Central Bank Focusing on Tightening Crypto Regulations and Developing Digital Real CBDC Brazil’s Financial Markets Regulator (CVM) to Roll Out Crypto Laws The head of the Brazilian financial markets regulator, João Pedro Nascimento, says the body will roll … Read more
• South Korean Financial Supervisory Service (FSS) is conducting an investigation into domestic crypto staking services. • At least three of the nation’s four biggest exchanges – Upbit, Bithumb, Korbit, and Coinone – have been contacted by the FSS regarding staking. • The FSS has suggested that an outright ban on domestic staking is not … Read more
• Shiba Inu (SHIB) is an Ethereum-based ERC-20 crypto token, and the second most popular dog meme coin after Dogecoin. • SHIB/USD was last changing hands slightly above its 21-Day Moving Average despite a large drop in the crypto token’s burn rate. • Evidence of increased Ethereum whale buying is likely helping to prop up … Read more
Paxos Under Investigation by NYDFS •The New York Department of Financial Services (NYDFS) is reportedly investigating Paxos, the issuer of Binance USD (BUSD) and native stablecoin USDP. •Paxos also operates PAXG, a gold-backed cryptocurrency that stores real-world assets in Brinks Vault, London. •The company applied for a full banking charter with the OCC but has … Read more
Strong U.S Jobs Report • The US economy added a whopping 517,000 jobs last month, way above the expected job gain of 190,000 • The household survey showed the unemployment rate dropping to a new more than five-decade low at 3.4% • Average hourly earnings continued to grow at a solid YoY pace of 4.4%, … Read more
• The Alfa Romeo Racing team has recently secured a $100 million sponsorship from the crypto casino platform Stake.com. • This is one of the first and biggest sponsorships following the catastrophic collapse of FTX exchange which was known for its high-level and wide-reaching sponsorships. • The resurgence in the crypto market, particularly with the … Read more
• International Monetary Fund (IMF) has made recommendations to regulate the cryptosphere and provide a framework for exchanges and investors to work to. • Entities that carry out many different functions in the cryptosphere should be subject top additional oversight. • Established financial institutions that deal in cryptocurrencies should be subject to clear requirements regarding … Read more