Uncategorized Archives - Page 29 of 146

MondayAug 05, 2024 9:00 am

Trump, a Reformed Crypto Critic, Addresses Largest Industry Convention

At one point, Donald Trump seemed like an unlikely advocate for cryptocurrency. He was skeptical of Bitcoin during his presidency, stating that it was “not money,” too volatile and backed by nothing substantial. He even warned that cryptocurrencies were a gateway to illegal activities. However, Trump recently made an appearance at the largest annual cryptocurrency event in Nashville, not as a skeptic but as a prominent supporter. This marked a significant shift in his stance, coinciding with his current campaign for the presidency. Despite his previous misgivings and the industry’s tumultuous history, Trump has now embraced the optimism and potential…

FridayAug 02, 2024 9:00 am

TRM Labs Analysis Shows Russian Ransomware Rakes in $500M in Crypto

Russia has emerged as a hub for ransomware-related activities. According to TRM Labs’ analysts, Russian-speaking ransomware groups were responsible for almost 70% of all cryptocurrency earnings from ransomware attacks in 2023. This statistic reveals Russia’s increasing involvement in these illegal activities, with the groups reportedly generating around $500 million in cryptocurrency profits. According to a recent report from TRM Labs, two major Russian ransomware groups, ALPHV (also known as BlackCat) and Lockbit, collectively raked in at least $320 million from their attacks. The report points out that Lockbit, which is currently sanctioned, targeted prominent companies such as the United Kingdom’s…

WednesdayJul 31, 2024 11:15 am

Canada Crypto Week Set For Aug 11-17, 2024: Anchor Event Blockchain Futurist Conference Hosts Multiple Sub-Events Onsite

Toronto, July 22, 2024 – Canada Crypto Week, a week-long series of Web3 and AI events, is set to take place from August 11-17, 2024 in Toronto, Canada. Blockchain Futurist Conference serves as the anchor event for Canada Crypto Week, providing a central hub for the majority of the week’s activities. Many of the 20+ events during Canada Crypto Week will take place onsite at the conference, offering attendees an interactive and immersive experience. Events include book signings, workshops, networking opportunities, the ETHToronto & ETHWomen Hackathon Experience, and more. This integration ensures that participants can fully engage with the…

WednesdayJul 31, 2024 9:00 am

Kamala Harris Poised to Throw Spanner in Trump’s Crypto Sunshine

Former President Donald Trump is working to solidify his presidential bid by appealing to the crypto industry and attracting campaign donations. However, a new dynamic has emerged with the rise of Kamala Harris. Trump’s presence at the Bitcoin (BTC) 2024 conference in Nashville indicates that a second term for Trump could bring favorable digital asset policies. Meanwhile, major crypto companies and investors are gearing up to spend significant sums to sway this year’s elections. Industry insiders anticipate Trump will use his speech to advocate for increased BTC mining in the United States and to oppose the Fed’s potential creation of…

MondayJul 29, 2024 9:00 am

Japanese Companies Call on Government to Reform Crypto Taxes

A coalition of Japanese blockchain and crypto exchange companies has formally requested the government to revise coin-related tax policies. The Japan Blockchain Association (JBA), in an official release, urged Tokyo to implement these changes before the 2025 fiscal year. The JBA pointed out that the current high tax rates on cryptocurrency profits are preventing Japanese citizens from effectively preserving valuable assets. The coalition advocated for applying the same tax rate to cryptocurrencies that is used for traditional financial assets, such as publicly traded stocks. Among the JBA members are leading crypto and blockchain companies in Japan, including the bitFlyer exchange.…

FridayJul 26, 2024 9:00 am

KPMG Partners with Cryptio to Ease GAAP Compliance by Crypto Companies

KPMG, one of the top four accounting companies globally, has teamed up with Cryptio, a cryptocurrency accounting software provider, to support U.S.-based crypto companies in adhering to Generally Accepted Accounting Principles (GAAP). This strategic cooperation seeks to improve the precision and dependability of cryptocurrency companies’ accounting for their assets through the implementation of efficient controls. Brian Consolvo, KPMG principal for technology risk, stressed the importance of improving digital asset accounting procedures and complying with U.S. regulatory requirements. He noted, “KPMG recognizes the value of accurate reporting and accounting, the risks associated with crypto assets, as well as the need for…

WednesdayJul 24, 2024 9:00 am

Study Shows Crypto Transaction Volumes Are Highest in Europe, Binance in Top Spot Among Users

Europe is the most popular region for cryptocurrency trading, accounting for 37.32% of global transaction value, according to a thorough investigation by Coinwire. This prominent position is largely due to Europe's tech-savvy populace and forward-thinking regulatory frameworks, making it a prime spot for cryptocurrency investments and advancements. Asia trails behind Europe, contributing 36.17% to global crypto transaction values. Asia’s substantial trading volumes are driven by widespread mobile use, a strong tech infrastructure and increasing interest from institutional investors. The analysis anticipates Europe’s crypto trading volume to soar to $40.5 trillion in 2024, a significant jump from $15 trillion in 2022,…

MondayJul 22, 2024 9:00 am

Investigation Shows Hackers Moved Stolen Cryptocurrency to Asian Payments Platform

A major payment company in Cambodia has been implicated in receiving more than $150,000 worth of cryptocurrency from a digital wallet associated with the North Korean hacking group Lazarus, according to blockchain data, highlighting the criminal group’s methods of laundering money in Southeast Asia. Huione Pay, headquartered in Phnom Penh and specializing in remittance services, currency exchange, and payments, received the funds between June 2023 and February 2024. The funds were transferred from an unidentified digital wallet linked to Lazarus, which, according to blockchain analysts, had previously deposited money obtained through phishing scams from three cryptocurrency companies in June and…

FridayJul 19, 2024 9:00 am

Dollar Slides, Bitcoin Climbs as Markets Mull Trump Win

Recent comments from Fed Chair Jerome Powell caused the dollar to slightly decline, while cryptos experienced an uptick due to speculation that former President Donald Trump’s assassination attempt increased his chances of reelection. Trump, known for his procrypto stance, has yet to outline specific policies for the cryptocurrency sector. Following the incident, betting odds for Trump’s victory improved. PredictIt, an online betting platform, showed Trump’s election odds climbing to 67 cents from 60 cents on last week, while Biden’s odds were at 27 cents. The dollar often strengthens with “Trump trade,” which includes assets expected to do well under Trump’s…

WednesdayJul 17, 2024 9:00 am

How Tokenized RWAs Are Performing Better Than Cryptos

Tokenization of real-world assets (RWAs) is becoming more popular among institutions, with financial heavyweights such as BlackRock diving into their own tokenized assets. Blockchain technology allows traditional assets, particularly private and alternative assets, to be dispersed, issued and managed more effectively. Since 2018, the Security Token Market (STM) has been keeping an eye on more than 600 tokenized items in this market. Here are some key trends and their performances. One notable example is the BlackRock USD Institutional Digital Liquidity Fund ($BUIDL), a tokenized money market fund that has become a favorite among institutions. By the end of June 2024,…