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Morgan Stanley Analyst Says Crypto Economy’s Liquidity Improved, but There’s ‘No Huge Demand to Re-Leverage’
22.8.2022
An analyst at the New York-based financial services and investment management company Morgan Stanley detailed on Monday that crypto liquidity seems to be recovering. Morgan Stanley’s Sheena Shah highlighted in a note to investors that the stablecoin market capitalization is seeing fewer...
EUR Drops Below USD for the Second Time in 20 Years, Greenback’s Strength Leads to Largest Weekly Rise Since March 2020
22.8.2022
The U.S. dollar has been very strong compared to a myriad of fiat currencies worldwide and this week, the euro dropped below the USD for the second time in 20 years after meeting parity with the dollar in mid-July. The dollar’s recent brawniness has resulted in the largest weekly rise since...
Moscow Exchange Prepares to List Digital Financial Assets by Year End
21.8.2022
Russia’s largest market for equities, bonds, and derivatives, the Moscow Exchange, intends to launch a product based on digital financial assets by the end of the year, an executive has revealed. The trading platform is already working with a partner to organize the placement of digital...
Leading Japanese Online Broker SBI to Pull Out of Russia’s Crypto Mining Sector
21.8.2022
SBI Holdings, the largest online brokerage in Japan, is shutting down its crypto mining business in the Russian Federation. Amid mounting uncertainty over the future of such investments due to the ongoing conflict in Ukraine, as well as decreased mining profits, the financial firm said it plans...
Korean Regulator Takes Action Against 16 Foreign Crypto Exchanges
20.8.2022
The South Korean financial intelligence unit is taking action against 16 foreign cryptocurrency exchanges for operating illegally in the country. “For illegal business activities of unregistered entities, maximum of 5 years of imprisonment or up to KRW 50 million of fines can...
South African Banking Regulator: ‘De-risking’ Crypto Firms Potentially Creates ‘Opacity in Financial Conduct’
19.8.2022
According to the latest guidance note issued by the South African banking sector regulator, Prudential Authority, risk assessment does not mean financial institutions should avoid or eliminate risks via the wholesale termination of client relationships with entities such as crypto asset service...
Korean financial watchdog to block tens of unregistered exchange websites
18.8.2022
Korea's Financial Intelligence Unit is cracking down on foreign-based cryptocurrency exchanges that are yet to register with relevant authorities in the country
Russia’s GDP Decline Less Severe Than Expected, Wall Street Returns to Russian Bonds, Putin Criticizes US ‘Hegemony’
17.8.2022
While the ongoing war in Ukraine continues, the Ministry of Economic Development of the Russian Federation detailed this week that Russia’s economic hardships are less severe than expected. Russia’s economic ministry says that the economy’s gross domestic product (GDP)...
Nasdaq-Listed Eqonex Closing Crypto Exchange Due to High Competition, Fallen Volumes
17.8.2022
The Nasdaq-listed firm Eqonex is closing its cryptocurrency exchange business. The company cited high competition among crypto trading platforms and fallen volumes as key reasons for shutting down its exchange. Eqonex Closing Crypto Exchange Eqonex Ltd. (Nasdaq: EQOS), a digital asset financial...
Crypto.com secures UK registration for 'cryptoasset activities’
17.8.2022
As defined by the FCA, "cryptoasset activity" includes anything that involves exchanging one crypto for another or exchanging crypto for fiat and vice versa
‘Big Short’ Investor Michael Burry Dumps All Stocks but One After Predicting Market Crash
17.8.2022
Hedge fund manager Michael Burry’s Scion Asset Management dumped all but one of its stock holdings in the second quarter, according to the firm’s filing with the U.S. Securities and Exchange Commission (SEC). Burry, famed for forecasting the 2008 financial crisis, has predicted...
Crypto.com Exchange Registers With UK Financial Regulator
16.8.2022
The crypto exchange has faced past heat over advertisements from the FCA
BlockFi tops the Inc. 5000 list with almost 250,000% revenue growth in three years
16.8.2022
The CeFi crypto lender faced a large fine spearheaded by the SEC this year and weathered the harsh crypto winter to come in as Inc. magazine’s No. 1 revenue gainer
Coin Center Says OFAC’s Tornado Cash Ban ‘Exceeds Statutory Authority,’ Plans to ‘Engage’ With US Watchdog
16.8.2022
On August 15, the non-profit that focuses on policy issues facing crypto assets, Coin Center, published a blog post that says the organization is looking at the legality of the recent Tornado Cash sanctions enforced by the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC)....
Galaxy Digital Terminates $1.2 Billion Bitgo Acquisition Deal, Crypto Firm Still Plans for Nasdaq Listing
16.8.2022
Galaxy Digital Holdings and the company’s CEO and founder Mike Novogratz announced the company has “exercised its right to terminate” a previously announced acquisition of Bitgo. According to Galaxy the termination of the deal was due to Bitgo’s “failure...
Peter Schiff Warns US Faces a ‘Massive Financial Crisis,’ Economist Expects Much Larger Problems Than 2008 ‘When the Defaults Start’
15.8.2022
The economist and gold bug Peter Schiff usually has a lot to say, and this past week Schiff explained during an interview that he believes the U.S. will face a financial crisis worse than 2008’s ‘Great Recession.’ Schiff explains that the U.S. has a lot more debt than it...
Gate.io's Hippo Financial Obtains Hong Kong Crypto Custody License
15.8.2022
Gate.io group's Hippo Financial Services received a Trust or Company Service Provider license that means it can now provide virtual asset custodial services in Hong Kong
Binance CEO’s Warning About Wazirx Wallets, Nigerian EFCC on Naira Depreciation, O’Leary Buys the Dip — Bitcoin.com News Week in Review
14.8.2022
Another week has passed and developments in the Binance-Wazirx controversy continue, Nigeria’s Economic and Financial Crimes Commission (EFCC) claims it has identified individuals fueling the naira’s depreciation, Shark Tank star Kevin O’Leary says crypto “desperately...
What DeFi Offers Beyond Lending for Crypto Speculation
14.8.2022
DeFi advocates claim that his nascent industry will continue to grow and, ultimately, make good on its promises.
"By removing the need to rely on intermediaries, DeFi makes traditional banking services far more accessible."
Leading DeFi protocols are now seeking exposure to real-world assets....
Bank of Russia Aims for Full Launch of Digital Ruble in 2024
14.8.2022
The Central Bank of Russia plans to begin the comprehensive implementation of the digital ruble two years from now, according to a paper detailing its monetary policy priorities for the 2023 – 2025 period. As the development of the state-issued digital currency continues, the monetary...