Results For: Crypto
India’s SEBI Recommends Multi-Regulator Approach for Crypto Oversight
The Securities and Exchange Board of India (SEBI) has recommended that multiple regulators should oversee various aspects of crypto trading in the country. This stance, revealed in documents seen by Reuters, marks the strongest indication to date that at least some Indian authorities are open to allowing the use of private virtual assets. Key points: …...
Crypto Exchange Rain Allegedly Exploited for $14.8M: ZachXBT
In a recent revelation by on-chain investigator ZachXBT, the Bahrain-based crypto exchange Rain appears to have fallen victim to a significant exploit. The exploit has resulted in a loss of approximately $14.8 million. The alleged incident, which took place on April 29, 2024, was brought to light through a Telegram post by the renowned sleuth. …...
Crypto Funds See $130M Inflows, Ending 5-Week Outflow Streak
After five consecutive weeks of outflows, crypto investment products have experienced a notable turnaround, recording inflows totaling $130 million. However, despite this positive development, exchange-traded product (ETP) volumes continue to subside. They have recorded a weekly volume of $8 billion compared to the $17 billion average in April, according to a report by CoinShares. Key …...
Chinese Police Bust $296 Million Illegal Crypto-Based Underground Bank
Chinese authorities have uncovered and closed down an underground bank that exploited crypto to facilitate illicit currency exchange operations between the Chinese yuan and the South Korean won. The Public Security Bureau of Panshi City, Jilin Province, successfully arrested six suspects involved in the case. The suspects completed transactions amounting to approximately 2.14 billion yuan …...
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Revolut Launches Standalone Crypto Exchange Called Revolut X
Revolut, a UK fintech company, has announced the launch of Revolut X, a standalone cryptocurrency exchange. Key features of the exchange: Revolut X aims to compete with other leading exchanges by offering easy on-and-off ramping, low fees, and a user-friendly interface. The platform is initially launching with a desktop version, enabling experienced crypto traders to …...
Donald Trump Pledges to Accept Crypto Donations for Presidential Campaign
Former U.S. President Donald Trump has announced his intention to accept campaign donations in crypto. The speech came during a gathering organized by Trump to meet and dine with buyers of his “Mugshot Edition” non-fungible tokens (NFTs) on his day off from trial. Key points: Frank Degods, a prominent NFT creator and influencer, shared the …...
Crypto Investment Products Record $251M in Outflows for Fourth Straight Week
The crypto investment landscape experienced a turbulent week, with outflows persisting for the fourth week in a row. The outflow amounted to a substantial $251 million. According to a report by CoinShares, this week marked the first instance of measurable outflows from the recently launched ETFs in the United States, which saw a significant $156 …...
Australia’s Tax Office Demands Data on 1.2 Million Crypto Accounts: Report
Australia’s Taxation Office (ATO) has issued a notice to crypto exchanges. According to Reuters, the ATO has requested the personal data and transaction details of up to 1.2 million accounts. This move is part of its efforts to crack down on users who may be evading their tax obligations. Key points: The ATO aims to …...
Crypto Losses from Hacks and Scams Hit Record Low in April: CertiK
In a recent report by blockchain security platform CertiK, the month of April witnessed the lowest amount of crypto losses due to hacks, exploits, and scams since 2021. The total losses amounted to approximately $25.7 million. This marks a significant 141% decrease from the previous month. Key takeaways from the report: Read more: North Korea’s …...
