Coinbase ramps up European expansion after laying off employees June 30, 2022 Coinbase is seeking licenses in European countries and stepping up its presence in the continent after cutting almost a fifth of its staff. The US-based crypto exchange is looking to set up operations in countries like France, Italy, and Switzerland. It already has active operations in the UK, Ireland, and Germany. The move comes just [...]
Bitcoin price to start recovery after final ‘washout’ of crypto winter, says Fundstrat June 30, 2022 Bitcoin could face one more crash before its price recovers. A final ‘washout’ could send the price of the biggest cryptocurrency plummeting to $13,000 before it starts to go up, analysis by financial research firm Fundstrat found. Bitcoin is currently trading around $20,000. “Most short-term technicals point to an above-average chance of a final ‘washout’-style [...]
DeFi-ing the rules: five opportunities and five risks of decentralised finance June 29, 2022 | City Talk In the Star Wars universe, the Force is a mystic energy field generated by living beings that binds the galaxy together. The ability to wield the Force gives Jedi Knights their superhuman abilities, making them peacekeepers of the galaxy. But how powerful would the Jedi be if every ‘transaction’ that used the Force had to [...]
Binance CEO calls for greater regulation as crypto firms face liquidity issues June 28, 2022 The CEO of Binance urged for greater industry regulation as crypto firms face liquidity issues amidst the crypto rout. “There should be clearer regulatory guidelines on reserves for different types of businesses in the crypto space,” Changpeng Zhao said in an interview with Yahoo Finance on Monday. He also called for disclosure and transparency requirements, [...]
‘Worrying rise’ in crypto scams claiming to be celebrity endorsed, Santander says June 28, 2022 Cryptocurrency scams falsely claiming to be endorsed by celebrities are surging, Santander warned. “We’re seeing a worrying rise in ‘celebrity-endorsed’ cryptocurrency scams, where familiar faces are being misused on social media in order to con people out of often life-changing sums of money,” said Chris Ainsley, the bank’s head of fraud risk management in the UK. He warned [...]
SEC Chair calls Bitcoin a commodity and likens other crypto assets to securities June 28, 2022 Securities and Exchange Commission Chair Gary Gensler called Bitcoin a commodity while likening other crypto assets to securities. “Many of these financial assets, crypto financial assets, have the key attributes of a security,” he said to CNBC’s Jim Cramer on Monday. “Some, like Bitcoin… my predecessors and others have said, they’re a commodity.” He said [...]
FCA laments the high number of financial crime ‘red flags’ missed by crypto firms June 27, 2022 The Financial Conduct Authority said many crypto firms that have applied to register under money laundering regulations miss financial crime “red flags” and have inadequate controls. A spokesperson for the FCA said to City A.M.: “We have seen too many financial crime red flags missed by the cryptoasset businesses seeking registration.” Some firms do not [...]
Goldman Sachs cuts Coinbase price target and downgrades it to ‘sell’ June 27, 2022 Goldman Sachs reduced Coinbase’s price target from $75 to $40 and cut its rating to “sell” from “neutral” as the crypto market experiences a severe rout. In a report today, the banking giant cited falling cryptocurrency prices and lower industry activity for the downgrade. “We believe current crypto asset levels and trading volumes imply further [...]
Hedge funds short Tether after Terra crash June 27, 2022 Hedge funds have Tether in their crosshairs as they keep betting against the stablecoin following TerraUSD’s collapse last month. Larger numbers of traditional hedge funds are shorting Tether, the world’s biggest stablecoin, through major crypto brokerage Genesis Global Trading Inc., the Wall Street Journal said. “There has been a real spike in the interest from [...]
Matt Hancock calls for ‘attractive’ tax regime to boost UK crypto sector June 23, 2022 Matt Hancock has called for the introduction of an “attractive” tax system and “liberal” regulatory regime to help the UK become "the jurisdiction of choice for crypto".