Blockchain.com lays off a quarter of staff as fallout from crypto crash worsens July 21, 2022 Blockchain.com cut 25 per cent of its workforce, about 150 people, as the impact of the “crypto winter” and the Three Arrows Capital collapse worsens. The crypto exchange blamed the sharp crash in the crypto market and high financial losses for the decision, according to CoinDesk. Blockchain.com will lose $270m from a loan to bankrupt [...]
BNB Chain picks 27 dApps for fifth season incubation program July 21, 2022 Community-driven blockchain BNB Chain has announced incubation projects for season 5 of its 'Most Valuable Builder' (MVB) accelerator program.
Cryptocurrency payments hold up despite harsh and merciless crypto winter July 21, 2022 Crypto payments have remained stable in the first half of this year, according to new research shared with City A.M. today. Compliance platform Deel said that cryptocurrency payment remained stable at 5 per cent of all global payments withdrawn monthly from the platform. In comparison, in the second half of last year 2 per cent [...]
Don’t read too much into Elon Musk’s ditching of Tesla Bitcoin holdings, says former banking chief July 21, 2022 The founder of a major investment bank has branded Elon Musk's Bitcoin dealings as "inefficient and unattractive" to Tesla stakeholders.
Elon Musk’s Tesla sheds 75 per cent of its Bitcoin holdings as profits drop July 21, 2022 Tesla has sold 75 per cent of its Bitcoin portfolio as profits slid in the second quarter of the year. The electric automaker announced in its Q2 earnings report that it converted the Bitcoin to $936m (£782m) of cash, with its digital asset holdings now at $218m (£182.4m). Profits fell to $2.3bn (£1.9bn) from a [...]
Coinbase says it had no financial exposure to bankrupt crypto firms July 20, 2022 Coinbase says it had no exposure to collapsed crypto firms like Celsius, Three Arrows Capital, and Voyager. In a blog post today, the crypto exchange said it had no “financing exposure” to these crypto firms, all of which filed for bankruptcy following the recent “crypto winter” that saw cryptocurrency prices plunge and pummelled the industry. [...]
Stablecoins will be regulated in the UK with wider crypto regulation to be discussed this year July 20, 2022 Stablecoins will be regulated in the UK in a major move towards crypto asset oversight, with plans to consult on wider crypto regulation later in 2022. The UK’s Financial Services and Markets Bill was presented to Parliament today and widens the UK’s approach to crypto regulation, allowing for stablecoins to be considered as a form [...]
Withdrawal suspension raises alarm among Zipmex users July 20, 2022 Thai cryptocurrency exchange Zipmex has triggered alarm bells with investors after announcing withdrawals were being suspended.
Sham crypto apps have defrauded investors of £35.6m since October, FBI says July 20, 2022 Investors have been scammed out of about $42.7m (£35.6m) through fraudulent crypto apps since October last year, the US Federal Bureau of Investigation said. The FBI identified 244 victims and warned of cyber criminals creating fraudulent crypto investment apps that exploit legitimate cryptocurrency investments. “Cyber criminals seek to take advantage of the increased interest in [...]
Singapore will widen crypto regulation and discuss possible steps later this year July 19, 2022 Singapore is set to expand the scope of its crypto regulations and will consult on proposed measures this year following a drastic crash in the crypto industry. The Monetary Authority of Singapore said most crypto regulation both in Singapore and internationally focuses on tackling money laundering and terrorist financing risks, but this will expand. “Most regulatory regimes [...]