Finance News

Is this the end? GBTC outflows slow for second day straight

• by admin
• January 25, 2024

Daily outflows from the Grayscale Bitcoin Trust have fallen to the lowest amount since launch day, in what some hope is the beginning of the end of the exodus. Outflows from Grayscale’s Bitcoin Trust (GBTC) have slowed for the second day in a row — prompting a glimmer of hope that a multibillion-dollar Bitcoin BTC […]

Finance News

Wallets with USDC stablecoin grew by 59% in 2023 despite circulation drop

• by admin
• January 16, 2024

Despite a steep drop in USDC’s circulating supply, its user base may have increased over the course of the year. The number of wallets holding at least $10 worth of USD Coin USDC $1.00 grew by 59% in 2023, according to a Jan. 15 report from its issuer, Circle. This growth came despite USDC losing […]

Finance News

BlackRock CEO doubts Bitcoin will ever become a currency

• by admin
• January 14, 2024

BlackRock CEO Larry Fink suggests that Bitcoin may not become the go-to currency for everyday spending and asserts that he hasn’t contemplated the potential price trajectory of Bitcoin. BlackRock CEO Larry Fink doubts the practicality of using Bitcoin BTC $42,977 for everyday transactions, reiterating it should be publicly perceived as purely an asset class. In […]

Finance News

Bitzlato suspends withdrawals weeks after founder agrees to dissolve exchange

• by admin
• December 28, 2023

Part of Bitzlato co-founder’s guilty plea on Dec. 6 was to dissolve the illicit exchange and forfeit its cryptocurrency. Now, it’s suspending withdrawals. Just weeks after Bitzlato’s co-founder agreed in a Brooklyn court to dissolve the crypto exchange as part of a guilty plea, the Bitzlato team announced it has to “temporarily suspend” all Bitcoin […]

Finance News

Hong Kong to oblige stablecoin issuers to obtain license — consultation paper

• by admin
• December 27, 2023

The criteria for obtaining an HKMA license will include full backing of all circulating stablecoins with reserves “at least equal to the par value. Hong Kong has proposed it will accept and regulate fiat-referenced stablecoins (FRS), but issuers will be obliged to obtain a specific local license. This is one of the main points of […]

Finance News

Web3 venture builder and charity team up to modernize charitable giving

• by admin
• December 18, 2023

Time after time, the crypto world has rallied together to support those affected by natural disasters and crises worldwide. Spotlight A Web3-focused venture builder, GAMI, has partnered with Doctors of the World, a prominent non-governmental organization, to modernize charitable giving and ensure crypto donations can immediately reach those who need them in times of crisis. […]

Finance News

How can a company effectively improve compliance and manage Web3 risks?

• by admin
• December 12, 2023

As the Web3 market grows, the industry faces compliance and risk management challenges, highlighting the need for robust transaction monitoring and due diligence solutions. As the blockchain industry grows, companies face multiple compliance and risk management challenges. Amid the complexities of decentralized finance (DeFi) and the growing threat of security risks, the need for robust […]

Finance News

Cosmos Hub greenlights ATOM inflation cut for security boost

• by admin
• December 11, 2023

The proposal narrowly passed, with 41.1% of votes for and 38.5% of votes against. The governing body of Cosmos Hub has endorsed a proposal to decrease the maximum inflation rate of its native token, Cosmos ATOM $10.00 , from 14% to 10%. According to the proposal, the authorized modification would reduce ATOM’s annualized staking yield from […]

Finance News

HECO Chain bridge compromised over $86.6M sent to suspicious addresses

• by admin
• December 3, 2023

Blockchain security firm PeckShield reported that assets like stablecoins, ETH, SHIB, LINK and more were transferred from the bridge. Withdrawals and deposits have been suspended, and Justin Sun has said HTX will fully compensate users for any losses. Data shared by blockchain security platform PeckShield shows that more than $86.6 million in digital assets were […]

Finance News

UK’s FinProm a welcome change, but challenge persists — Transak compliance head

• by admin
• November 23, 2023

Transak’s compliance chief, James Young, told Cointelegraph that while the U.K.’s new crypto marketing rules are good for the industry, they still pose challenges to some firms operating in the decentralized space. On Oct. 8, the United Kingdom’s Financial Conduct Authority (FCA) imposed new marketing rules compelling cryptocurrency firms to promote their products and services clearly, […]