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,
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
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
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
The Polkastarter GAM3 Awards, known as the Grammys for web3 gaming, have announced its winners. The first-ever industry awards were concluded on December 15 with the live announcement of the 16 winners. The GAM3 Awards Game of the Year, which honors the greatest web3 game that crosses the lines between
Because of the current bear market, the crypto derivatives platform Paradigm has decided to reduce employee pay by 15%. After FTX’s bankruptcy last month, derivatives trading took a significant hit. Exchange co-founded by arrested entrepreneur Sam Bankman-Fried is accused of using billions of dollars in client cash to finance the
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
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.”
The Federal Reserve authorized a lesser interest-rate boost than previous ones this year but indicated intentions to keep increasing rates next year to battle excessive inflation, sending the price of cryptocurrencies down along with U.S. markets. Inflation in the United States is at a 40-year high, therefore the Federal Reserve
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
