Fri, January 31

BIS Now Permits Banks To Hold 2% of Reserves in Cryptocurrency

The Prudential Treatment of Cryptoasset Exposure Report, December 2022, was recently published by the Bank for International Settlements (BIS). According to the latest policy announcement, financial institutions may now keep 2% of their reserves in cryptocurrency. The new policy, which allows banks to store 2% of their reserves in cryptocurrency,

December 17, 2022 1 min read

OneCoin Co-founder Pleads Guilty of Wire Fraud and Money Laundering

On Friday, the US Department of Justice (DOJ) stated that Karl Sebastian Greenwood, an associate of “Cryptoqueen” Ruja Ignatova and the co-founder of OneCoin, had pled guilty to federal counts of wire fraud and money laundering in connection with the OneCoin scandal. U.S. Attorney Damian Williams stated: “As a founder

December 17, 2022 1 min read

Mining Firm Core Scientific’ Stock Surges 2x Post $72M Funding

In response to B. Riley’s $72 million investment. Shares of Core Scientific, a Bitcoin mining company, have more than doubled in price during the previous 48 hours, from $0.15 to $0.46. Core Scientific, one of the major crypto-mining corporations in the United States, has had a disappointing year, prompting this

December 16, 2022 2 mins read

ECB Raises Interest Rates by 0.5 Basis Points to Curb Inflation

The European Central Bank (ECB) joined the U.S. Federal Reserve and other central banks around the globe in taking action against inflation on Thursday by lowering the pace at which it is increasing interest rates. In an effort to combat the high costs that are weighing on consumers, the central

December 16, 2022 2 mins read

Tech Behemoth Microsoft Bans Crypto Mining on Cloud Platform

Microsoft updated its terms of service to explicitly forbid the mining of cryptocurrency on its hosted platforms without express permission. This update became available in December, and it’s for everyone, not just Microsoft’s paid members. Specifically, the update prevents users from mining on any Microsoft online service. Including those that

December 15, 2022 1 min read

Cash Crunch Mining Firm Core Scientific Manages $72M Funding

B. Riley, a provider of financial services, has extended an offer to Bitcoin investors. Core Scientific’s leading lender, B. Riley, revealed the details of the financing deal in a letter dated December 14 and said that the company was ready to finance the first $40 million “immediately, with zero contingencies.”

December 15, 2022 1 min read

SEC Charges Social Media Influencers in $100M Stock Scam

The SEC has now stated that it would be pursuing charges against eight social media influencers in connection with a $100 million securities fraud scheme. Social media sites like Twitter and Discord were used in this plan by the defendants to affect publicly listed stock prices. Furthermore, the SEC has

December 14, 2022 2 mins read

Japanese Power Behemoth ‘TEPCO’ Forays Into Crypto Mining Sector

Tokyo Electric Power Grid (TEPCO), a Japanese utility company, is collaborating with TRIPLE-1. The goal is Bitcoin mining, and by extension, making use of the grid’s surplus of electricity. As a regional hardware producer, TRIPLE-1 is a household name. During the 2012 earthquake and tsunami that hit the Fukushima area,

December 14, 2022 2 mins read

Australia Plans Major Revisions in Crypto Regulations by Early 2023

Australia’s government said on Wednesday, December 14 that it is doing the necessary to enhance crypto service provider regulation. The government plans to issue a discussion paper in early 2023. In order to determine which kind of digital assets they want to regulate. Moreover, the Australian government is contemplating major

December 14, 2022 1 min read

Crypto Market Rallies as U.S Inflation Drops to 7.1% For November

The publication of the November statistics for the Consumer Price Index (CPI) by the U.S. Bureau of Labor Statistics caused a sharp increase in the value of cryptocurrencies including Bitcoin (BTC). The US consumer price index drops from October’s 7.7% to November’s 7.1%. CPI for November was predicted to come

December 13, 2022 1 min read
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