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Wealth managers and VCs are helping drive institutional crypto adoption — Wave Financial execs

10.8.2022
“Things are much more encouraging, even though this is clearly a time of pain," said Wave Financial’s head of business development Mike Jones

Another Rough Quarter Awaits in Q3, Coinbase Warns After Bruising Financial Results

10.8.2022
The crypto exchange giant Coinbase is putting a positive spin on another quarter of sub-par results – and its CEO Brian Armstrong has stated that “across price cycles,” the exchange is still trending upward. But the firm appears braced for another rocky ride in the coming third quarter of FY2022....

Kazakhstan Investigates Crypto Mining Hotel Allegedly Operating as Ponzi Scheme

10.8.2022
Authorities in Kazakhstan have launched an investigation into a mining hotel business suspected of being a crypto pyramid as part of an ongoing crackdown on illegal activities linked to cryptocurrencies. The platform, called Bincloud, lured investors through popular messaging apps. Bincloud...

Marathon Digital Posts Negative Q2 Results, but Increases Bitcoin Production 8% YoY

9.8.2022
Marathon Digital, one of the biggest mining companies in the Bitcoin ecosystem, has posted its financial results corresponding to the second quarter of the year. The company revealed that even having increased its production by 8% when compared to Q2 2021, it recorded an impairment of $127.6...

Report: Nigerian Anti-Graft Body Identifies Individuals Fueling the Naira’s Rapid Depreciation

9.8.2022
Nigeria’s Economic and Financial Crimes Commission (EFCC) recently claimed it had identified individuals and organizations whose rapid accumulation of U.S. dollars recently accelerated the depreciation of the local currency, a report said. According to Abdulrasheed Bawa, the EFCC chairman...

Lebanon Ponzi Finance: World Bank Says Politicians Are to Blame for the ‘Deliberate Depression’

8.8.2022
Deliberately insufficient policy responses by successive Lebanese governments combined with the self-serving agreements by politicians are largely to blame for the country’s economic crisis, a report by the World Bank has said. The report concludes that the country needs to seriously engage...

Central Bank of Brazil Director Praises Bitcoin as a Financial Innovation, Talks Programmable Digital Real

6.8.2022
Fabio Araujo, Director of the Central Bank of Brazil, has praised the properties of Bitcoin, saying it is a financial innovation using new technologies. To Araujo, Bitcoin was the catalyst for what is today known as Web3. At an event, Araujo also commented about the status of the development of...

Crypto Becomes Next Financial Sector Under US Lawmakers’ Diversity Lens

5.8.2022
Rep. Maxine Waters (D-Calif.), the chairwoman of the House Financial Services Committee, has asked 20 of the largest cryptocurrency firms doing business in the U.S. to explain their hiring practices as the panel adds the digital assets industry to the financial sectors it’s questioned about...

Coinbase Partners With World’s Largest Asset Manager Blackrock to Give Aladdin Clients Access to Cryptocurrencies

4.8.2022
On August 4, the head of Coinbase Institutional, Brett Tejpaul, and the vice president of institutional product, Greg Tusar, announced that Coinbase has been selected by the financial giant Blackrock to provide the firm’s Aladdin platform access to cryptocurrencies. Blackrock Chooses...

Speculators and Crypto Traders Blamed for Naira’s Plunge, Kenyan Institutions Told to End Dealings With Nigerian Fintechs, CAR Token Sale off to Slow Start

4.8.2022
In this week’s Africa news highlights, the Nigerian central bank blames speculators for causing the local currency’s plunge to a new all-time low on the parallel market. In Kenya, the central bank has told financial institutions to cease having dealings with two Nigerian fintechs...

Mastercard Views Crypto More as Asset Class Than Form of Payment

4.8.2022
Mastercard sees cryptocurrency as more of an asset class than a means of payment, according to the payments giant’s chief financial officer. Mastercard’s crypto strategy “has been fairly successful ever since crypto environments came up,” he added. Mastercard’s...

Borrowing to buy Bitcoin: Is it ever worth the risk?

3.8.2022
Borrowing to buy crypto has often been advocated for by various influencers, but the consequences may be dire

Bitcoin, Ethereum Technical Analysis: BTC, ETH Rebound as Global Markets React to Pelosi’s Visit to Taiwan

3.8.2022
Bitcoin and ethereum were both trading higher on Wednesday, as global financial markets reacted to the tensions caused by U.S. House Speaker Pelosi’s visit to Taiwan. The price of gold dropped by nearly $40 late on Tuesday, after securing a one-month high, while the S&P 500 also faced...

Robinhood Crypto Fined $30 Million by New York Regulator for ‘Significant Failures’ in Multiple Areas

3.8.2022
The New York State Department of Financial Services (DFS) has fined Robinhood Crypto $30 million for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.” Robinhood Crypto Settles With the DFS The...

'This is on me' — Robinhood CEO to lay off 23% of staff after Q2 loss

3.8.2022
The online retail broker blamed the economy for a decline in user numbers and net revenue that fell 44% year-on-year, although revenue from crypto rose moderately this quarter

New York financial regulator fines Robinhood's crypto division $30M

2.8.2022
“As its business grew, Robinhood Crypto failed to invest the proper resources and attention to develop and maintain a culture of compliance,” said superintendent Adrienne Harris

Reports Say Beijing Attacking Taiwan Could Lead to ‘Far-Reaching Economic Consequences’

2.8.2022
While the global economy remains gloomy and the war in Ukraine continues, there’s been significant tension between China and Taiwan. The American representative from California, Nancy Pelosi, plans to visit Taiwan this week and White House officials say China is preparing to carry...