Monthly Archives: June 2021

UK regulator warns against 111 unregistered crypto companies… and FOMO

The Financial Conduct Authority has warned U.K. consumers of dealing with 111 unregistered crypto firms, calling it “a very real risk.” The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA) has warned consumers against 111 crypto companies that are yet to register with the FCA. Since Jan. 10, all U.K.-based crypto firms have had to comply with Anti-Money Laundering and Counter-Terrorist Financing laws, as well as to register with the FCA in order to operate legally. Many are yet to do so. Mark Steward, FCA’s head […]

More info

Fireblocks faces lawsuit over deleted keys to $72M Ether wallet

The crypto-custody firm claims that it was the client’s responsibility to back up the private keys. Crypto-custody firm Fireblocks is facing legal action by a firm that claims it was locked out of its wallet containing a substantial amount in crypto assets. Crypto staking platform StakeHound claims that negligence by a Fireblocks employee resulted in tens of millions of dollars worth of crypto assets being lost without any backup available. Fireblocks is an Israeli-based company that provides custody services for businesses and which is working on speeding […]

More info

Waste Coal-Converting Bitcoin Miner Stronghold Digital Mining Raises $100 Million

On Tuesday, Stronghold Digital Mining, Inc., an ESG-friendly cryptocurrency miner announced it has raised $105 million in two private equity securities funding rounds. Stronghold’s operations convert waste coal into alternative energy in order to mine bitcoin and other cryptocurrencies. ESG-Friendly Crypto Miner Turns Coal Waste to Bitcoin, Operation Raises $100M While many have been focused on the environmental concerns stemming from outdated reports and maps, a number of ESG-friendly cryptocurrency mining firms have been making moves in the industry. Stronghold Digital Mining is a Pennsylvania-based operation that […]

More info

Brave takes aim at Google with privacy-protecting search engine beta

Brave hopes users will want to search the web without being tracked. Crypto-powered web browser Brave has branched out into the world of search with a new privacy-protecting beta search engine. The platform aims to take on the likes of Google, which harvests personal data and browsing habits while serving up targeted ads and tailored search results. But it faces an uphill battle against the tech giant which accounts for more than 90% of the market. In an announcement on June 22, Brave stated that it had […]

More info

Bitcoin heading for worst quarter since start of 2018 bear market

Bitcoin appears poised to post its second-weakest quarter since the start of 2014. Bitcoin is poised to post its worst-performing quarter since the start of the 2018 bear trend. The current quarter is also on track to be the second-worst on record for BTC in the almost eight years since the start of 2014. According to crypto data aggregator, Skew, Bitcoin is currently down nearly 46% for the quarter, the weakest quarter since Q1 2018 — when it shed approximately 50% of its value over just three […]

More info

Rwanda Central Bank Joins CBDC Bandwagon After Announcing Digital Currency Research

The National Bank of Rwanda (NBR) has become the latest African central bank to join the digital currency movement after an employee confirmed the institution is studying the possibilities of issuing its own digital currency. CBDC Implications on Financial Stability According to the employee, John Karamuka, this study will be looking at economic, financial, and technical aspects related to central bank digital currencies (CBDC), as well as “the operationalization model.” The study will also analyze the “implication of the CBDC on monetary policy and financial stability.” However, […]

More info

Hedge fund that shorted GameStop closes as $1.13B GME stock offer completes

GameStop has completed a stock offer worth nearly $1.13 billion to fund growth, while a hedge fund that incurred losses from shorting GME is closing down. One of the hedge funds badly burned in the infamous GME social media driven short squeeze is closing down, while GameStop itself has just completed its $1.13 billion equity offering. According the Financial Times, London-based White Square Capital operated by Florian Kronawitter has closed its main fund and will return capital to investors. White Square Capital reportedly had $440 million in […]

More info

Bank of France, Swiss Crypto Bank Test Securities Settlement Using CBDC

The Bank of France has successfully completed an experiment involving the use of CBDC to settle listed securities. The test has been carried out with the help of an alliance of partners led by SEBA Bank, a digital asset banking provider based in the Swiss crypto valley. Central Bank and Crypto Company Conduct Successful CBDC Test As part of a program launched in March 2020, central bank digital currency (CBDC) has been used to simulate the settlement of listed securities, Bank of France announced in a press […]

More info

US miner raises $105M to recycle waste coal into crypto

Stronghold Digital Mining has raised more than $100 million in two private placements supporting its model for sustainable Bitcoin mining. The Pennsylvania-based Stronghold Digital Mining has announced the completion of two private equity securities raises worth $105 million. According to an announcement shared with Cointelegraph, the firm’s first power generation facility, the Scrubgrass Generation Plant in Venango County, converts waste coal into energy on a scale equivalent to “a large-scale hydropower plant” that is then used to mine Bitcoin and other cryptocurrencies. The waste coal recycled by […]

More info

New Bank of America Report Says Digital Currencies ‘Could Boost Economic Growth’ in Developing Countries

A new Bank of America (BOA) research study has found that both central bank digital currencies (CBDCs) and private digital currencies hold “a lot of potential” for increasing financial inclusion in developing countries. In the report, the bank also argues that such “digital currencies could reduce transaction costs and allow more economic activities in emerging market economies.” Digital Currencies and Financial Inclusion Still, the study findings show that while digital currencies are likely to “boost economic growth” in developing countries, their adoption will carry some risk. In […]

More info
1 4 5 6