On Monday, IRA Financial Trust, a platform providing self-directed digital asset retirement and pension accounts, filed a lawsuit against cryptocurrency exchange Gemini for alleged negligence in safeguarding customers’ digital assets during a critical exploit. The firm’s client accounts were held in Gemini’s custody. On February 8, a breach led to the siphoning of $36 million…
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On Monday, Hong Kong’s Securities and Futures Commission (SFC) released a statement warning investors about the risks of nonfungible tokens, or NFTs, which have soared in popularity in recent years. The regulatory body wrote: “As with other virtual assets, NFTs are exposed to heightened risks, including illiquid secondary markets, volatility, opaque pricing, hacking, and fraud.…
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The Treasury wants to empower the Financial Market Infrastructure Special Administration Regime to oversee the safe return of customer funds in the event of a stablecoin collapse. Source link
On Tuesday, the European Central Bank, or ECB, published the results of a new survey conducted in six eurozone areas; the Netherlands, Spain, Italy, Belgium, France, and Germany. Together, approximately 10% of respondents from the surveyed countries said they own cryptocurrencies. Out of this group, only 6% of respondents said they own digital assets worth…
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On April 28 discount-brokerage platform Robinhood published its financial results for the first quarter of 2022. Year over year, the firm’s net revenue declined by 43% to $299 million. Specifically, revenue from cryptocurrency trading fell by 39% to $54 million during the same period. This was partly due to a decrease in interest in meme…
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In a letter published on Thursday, the New York State Department of Financial Services, or NYDFS, recommended that all virtual currency companies operating under New York banking law adopt blockchain analytics to trace transactions. In supporting the decision, the regulatory agency wrote: “Wallet addresses are typically pseudonymous, with nothing on the face of the transfer…
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In an interview with Cointelegraph reporter Joe Hall on April 12, David Olsson, global head of institutional distribution at BlockFi, shared his insight on the state of institutional adoption of cryptocurrencies. BlockFi is a financial services company that offers retail wealth management products such as crypto-backed loans, interest accounts, Bitcoin (BTC) rewards credit cards, etc.…
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On Friday, Tornado Cash announced that it was using oracle contracts from Chainalysis to block wallet addresses sanctioned by the U.S. Office of Foreign Assets Control, or OFAC. The move comes after the U.S. Department of the Treasury linked North Korean cybercriminal Lazarus Group as an alleged perpetrator for the recent $600 million+ Ronin Bridge…
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During Paris Blockchain Week, Changpeng Zhao, CEO of Binance, the largest centralized cryptocurrency exchange in the world, sat down with Cointelegraph reporter Joe Hall for an exclusive interview. When asked about what excites him the most in crypto in 2022, Zhao said “We’re now seeing regulators who want to be a part of this industry.…
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On Friday, cryptocurrency storage company Blockstream and Block Inc. (formerly Square) announced the construction of a solar-powered Bitcoin (BTC) mining facility in Texas. As told by Blockstream, the mining site will be outfitted with 3.8 megawatts (MW) of electrical capacity using Tesla’s Solar photovoltaic cell array and a 12 an MWh Megapack. Manufactured by Tesla…
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