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Category: Crypto

August 14, 2022

Private Bitcoin Trust – The Next Step Of BlackRock Into The Crypto Space

BlackRock has launched a private trust offering institutional clients in the U.S. direct exposure to bitcoin, the world's largest asset manager announced in a blog post on Thursday. Earlier, the largest U.S. crypto exchange Coinbase had announced a partnership with BlackRock that will provide common clients access to crypto. The announcement had shot up Coinbase shares significantly. Experts see the partnership with BlackRock as a rescue for the crisis-ridden Coinbase.

August 12, 2022

Breaking: BaFin Launched Probe Into LATOKEN Crypto Exchange For Security Token Offerings!

The German BaFin announced today that it had initiated investigations against LiquiTrade Limited in the Caymen Islands. This offshore entity is behind the well-known LATOKEN crypto exchange, which it jointly operates with Payex OÜ, registered in Estonia. Until June 2022, Payex OÜ had a crypto license from the Estonian FIU. BaFin suspects LATOKEN is offering financial services in Germany without permission. LATOKEN accepts Security Token Offerings (STO).

August 10, 2022

Coinbase Reports $1.1B Loss And Imploding Revenue!

The shares of the leading US crypto exchange Coinbase dropped after the company reported a loss of over $1 billion for Q2 2022 and missed analysts’ estimates. Coinbase’s revenue declined nearly 64% as investors exited the crypto market after the 2021 bull run. Retail transaction revenue came in at $616.2 million, down 66% and below analysts' $667.1 million consensus. Coinbase reported a $1.1 billion net loss, compared with $1.59 billion in net income in the same quarter last year.

August 9, 2022

Breaking: German Crypto Bank Nuri Filed For Insolvency!

Crypto Winter officially arrived in Germany. Berlin-based digital bank Nuri filed for insolvency only two months after announcing layoffs. The crypto fintech struggled with the rout in crypto prices, and economic uncertainty. Nuri was not able to find fresh funds. In a statement, the company said that despite the filing, customers would still have full access to their current accounts (euros) and their crypto wallets and vaults (bitcoin & ether) and can continue withdrawing funds.

Crypto

August 8, 2022

Digital Assets Exchange Crypto.com Secures Virtual Asset Service Provider Registration in South Korea!

Singapore-based crypto exchange Crypto.com announced today it had secured Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea by acquiring payment service provider PnLink Co., Ltd. and virtual asset service provider OK-BIT Co., Ltd. With more than 50 million clients, Crypto.com is one of the largest crypto exchanges worldwide. Crypto.com is operated by Foris DAX Asia Pte. Ltd, a Singapore-based company that's a subsidiary of Foris DAX MT (Malta) Limited.

August 7, 2022

CoinBase Short-Sellers lose $234M As Shares Surge Following BlackRock Partnership Announcement!

The share price of the largest U.S. crypto exchange, Coinbase, rallied sharply on Thursday after it announced a partnership with BlackRock. The exchange's stock finished the week 52.65% higher at $93.05 a share. It remained more than 60% lower for the year, however. Coinbase is one of the most wagered-against companies on the US stock market. Investors betting against Coinbase stock lost more than $230 million after the announcement of the BlackRock partnership sent its shares soaring.

July 31, 2022

The Crypto Exchanges Performance In June 2022

In June 2022, spot trading volumes across all centralized crypto exchanges fell 27.5% to $1.41tn, the lowest figure recorded since December 2020. Binance’s market share rose to 49.7% in June from 45% in January, according to CryptoCompare. FTX boosted its market share to 8.95% in June from 6% in January, making it the second-largest spot market. Coinbase has seen its share of the spot-trading market fall to 7.39% in June from 10.8% in January. OKX, BeQuant, and Gemini also saw their market share slip.

July 28, 2022

Nasdaq-Listed Crypto Finance Company EQONEX Hires Two Senior Managers!

Nasdaq-listed crypto venture EQONEX Limited announced the appointments of new senior managers to expand its crypto asset management business. Nick Cogswell has been appointed to the role of Head of Sales, Asset Management, based in London, and Franklin Heng has been appointed Head of Asset Management Asia, based in Hong Kong. Both appointments are effective immediately. The new hires follow the listing of EQONEX's first exchange-trade product on the Deutsche Börse XETRA Exchange, earlier this month.

Crypto

July 22, 2022

Singapore Crypto Exchange Zipmex Extends Withdrawel Freeze

Zipmex has become the latest crypto platform to suspend withdrawals. The Singapore-based crypto exchange Zipmex froze withdrawals due to financial difficulties that link back to the troubled crypto lender Babel Finance. On Thursday, Zipmex tweeted that it would extend the withdrawal freeze resulting from its financial difficulties. According to several industry sources, Zipmex may face losses from funds lent to Hong Kong-based lending platform Babel Finance and collapsed Celsius Network.

Crypto

July 21, 2022

Coinbase Shares Jump After Announcement Of Non-Exposure To Collapsed Crypto Schemes

Coinbase “had no financing exposure” to collapsed crypto schemes Celsius Network, Three Arrows Capital (3AC), and Voyager Digital, the company said in a blog post. Each firm filed for bankruptcy protection after the Terra-Luna implosion set off a cascade of liquidations in highly leveraged positions. Coinbase shares climbed more than 14% following the statement. The company’s stock has plunged roughly 70% since the start of 2022.

July 20, 2022

US Crypto Exchange Gemini is Registered as VASP and EMI in Ireland!

The New York-based crypto exchange Gemini, owned by the Winklevoss twins Cameron and Tyler, is a New York trust company regulated by the New York State Department of Financial Services (NYSDFS). According to a blog post, Gemini has become Ireland's first exchange for registering as a Virtual Asset Service Provider. In February 2022, the Central Bank of Ireland authorized Gemini to serve as an Electronic Money Institution. However, in the U.S. the CFTC sued the crypto exchange.

July 1, 2022

Payout Issues At Crypto Exchange Blockchain!

Currently, the entire crypto scene is in a state of emergency. After the collapse of the Terra Luna scheme, crypto hedge fund Three Arrows Capital and crypto lender Celsius Network, many crypto companies are struggling to survive because they lost a lot of money. Even the major providers are not exempt from this. A kind of domino effect has set in and no one currently knows the true extent of this liquidity crisis. Some crypto companies have frozen withdrawals. Blockchain.com is likely to be among them.