Uncategorized Archives - Page 24 of 136

MondayApr 01, 2024 9:00 am

Experts Discuss How Public Trust, Transparency Can Be Bolstered in Cryptocurrency Markets

Recent disclosures about money laundering, dishonesty and fraudulent activity by Binance, FTX and other organizations have seriously damaged public trust in the crypto asset market, especially concerning trading platforms. Rebuilding trust demands a firm commitment to safeguarding investors’ interests and transparency. Bruce Tupper, president and creator of CoinRegTech, and Tyler Williams, Galaxy’s head of legislative and regulatory affairs, offer insights on how these can be achieved in cryptocurrency markets. They propose two key measures — Off-Chain Transaction Reporting and Proof of Reserves (PoR) Reporting — as essential steps for trading sites to adopt. These measures would enhance transparency and protect…

WednesdayMar 27, 2024 9:00 am

EU Begins Implementing Ban on Unverified Cryptocurrency Wallets

The European Union has put forth a new guideline barring cryptocurrency transactions done via noncustodial wallets lacking verification as part of its broader Anti-Money Laundering (AML) regulations aimed at tackling financial crimes. The majority of the European Union Parliament’s primary commission approved the move on March 19, 2024, showcasing a united front against undisclosed transactions. The measure specifically targets transactions routed via self-custody wallets lacking proper identification, including those made using internet applications, mobile phones or desktops. The directive seeks to close the gap exploited for anonymous fund transfers, a method commonly associated with illicit activities. A core tenet of…

MondayMar 25, 2024 9:00 am

How Crypto, AI are Influencing Future of Finance

In recent years, the landscape of cryptocurrency has witnessed significant transformations. In addition to the stimulus-fueled boom of 2021, venture capital (VC) companies invested an astounding $33 billion in blockchain and cryptocurrency startups. However, subsequent events such as the Federal Reserve’s interest rate hikes triggered a series of bankruptcies and collapses within the crypto market, including Terra (LUNA) and FTX. Further, despite initial optimism, the concept of Decentralized Finance (DeFi) encountered setbacks, including more than $3 billion in losses due to DeFi hacks in 2023. Moreover, the ongoing Bitcoin bull run underscored a lack of confidence in alternative coins. Yet,…

FridayMar 22, 2024 2:54 pm

Crypto Assets Conference 2024 (CAC24A) Unveils a New Era of Digital Transformation

The Frankfurt School Blockchain Center is pleased to announce the 10th Crypto Assets Conference (#CAC24A), set to illuminate the digital assets landscape on April 16, 2024. During the current surge of bitcoin, the tokenization of digital assets, and the creative use of blockchain technology, cryptocurrencies are reshaping the financial industry by questioning traditional norms. The #CAC24A is paving the way for a future characterised by innovation and exploration. As industries evolve, the Crypto Assets Conference (#CAC24A) gathers sector specialists, corporate pioneers, and trailblazing entrepreneurs to explore the cutting-edge of DLT, blockchain, and crypto assets. Key Highlights: 🗓️ Event Dates: April…

FridayMar 22, 2024 9:00 am

Crypto Funds Notch $2.9B Record in Weekly Inflows

Digital-asset investment products attracted a substantial $2.9 billion in funds during the week spanning March 11–15, 2024, surpassing the prior record of $2.7 billion, as reported by CoinShares. Year-to-date, these inflows have reached $13.2 billion, outpacing the total inflows seen in 2021, which amounted to $10.6 billion. Throughout this period, trading volumes hit $43 billion, marking a record for the previous week and accounting for more than 47% of all Bitcoin volumes worldwide. Additionally, blockchain investments saw a notable turnaround, with inflows of $19 million after six consecutive weeks of outflows. The United States topped the regional rankings with $2.95…

WednesdayMar 20, 2024 9:00 am

El Salvador Could Join List of Wealthiest Nations Because of BTC Holdings

El Salvador, a small yet densely populated nation in Central America, is poised to potentially emerge as one of the world’s wealthiest countries, thanks to its Bitcoin reserves. In September 2021, El Salvador made history by becoming the first country to embrace Bitcoin as legal tender. Subsequently, in November 2022, President Nayib Bukele announced the government’s decision to purchase a Bitcoin daily. Despite facing criticism, President Bukele’s move has proven fruitful, with the government now holding more than 2,000 Bitcoins, valued at more than $150 million. The head of state also noted that there were no intentions to sell the…

MondayMar 18, 2024 9:00 am

Thailand OKs Bitcoin ETFs as Restrictions on Listed Cryptos Ease Globally

Thai authorities have announced a shift in their approach to digital asset investment, permitting money managers to introduce private funds dedicated to U.S. Bitcoin spot exchange-traded funds (ETFs). However, this allowance extends solely to institutional investors and high-net-worth individuals. Though its usage is still restricted, retail cryptocurrency trading is nonetheless widespread in the nation. In 2022, the government prohibited the use of cryptos for payments, and in July last year, it prohibited their use for investment and lending. In an earlier stance articulated in January, regulatory bodies explicitly prohibited investment companies from directly engaging in Bitcoin ETFs for their clientele.…

FridayMar 15, 2024 9:00 am

Bitcoin Crosses $72,000 as UK Opens Door to Crypto Products

Bitcoin surged again, hitting another all-time high. According to Coin Metrics, the leading cryptocurrency’s price soared 3% to $72,022.16, reaching a peak of $72,750.16. The digital currency experienced a volatile surge, marking new records for the first time since November 2021, followed by relatively calmer trading during the weekend. The influx of investments into U.S. Bitcoin spot ETFs continues to be a significant driving force behind the crypto’s price momentum. CoinShares reported a record-breaking $2.7 billion inflow into digital assets last week, bringing the total investment to $10.3 billion, approaching the 2021 record of $10.6 billion. However, increased leverage within…

WednesdayMar 13, 2024 9:00 am

BBB Says Crypto Fraud Is Riskiest Con Consumers Face

Crypto and investment frauds rank as the most perilous schemes in the United States presently, according to the Better Business Bureau (BBB). These fraudsters often deceive their victims, resulting in substantial financial losses, as revealed in the BBB’s annual report on the prevalent scams of 2023, compiled from approximately 67,000 reported incidents. Last year, around 80% of U.S. citizens targeted by crypto fraud experienced monetary losses, with the median amount being $3,800. However, the losses incurred in crypto scams frequently exceed this figure significantly, according to CBS News’ Anna Werner, who specializes in consumer investigations. Perpetrators of such scams utilize…

MondayMar 11, 2024 9:00 am

Understanding the Why Behind Bitcoin’s Latest Surge

Bitcoin recently surged to an all-time high, surpassing its previous peak set more than two years ago. The digital currency exceeded its November 2021 high of nearly $69,000, although it retraced slightly later to hover around $64,000. Currently, Bitcoin boasts a market capitalization of about $1.3 trillion, constituting a significant portion of the overall $2.6 trillion crypto market. One significant catalyst driving Bitcoin's ascent since the beginning of the year has been the ETFs’ approval by the U.S. Securities and Exchange Commission (SEC) in January. ETFs are a collection of assets, akin to shares, that track the price movements of…