ED freezes additional crypto funds over money laundering claims
The Indian Directorate of Enforcement (ED) said that these funds were nothing but illegal gains from predatory lending practices. In order to force Vauld’s Indian branch to account for the illegal gains it sent out of the country, the Indian Directorate of Enforcement (ED) froze $46.4 million in its accounts. The financial accounts of Bengaluru-based […]
Revenue from bitcoin mining increases by 68.6%
Bitcoin mining revenue increased by over 69 percent in a single month, from $13.928 million on July 13 to $23.488 million on August 12. In 2022, the Bitcoin (BTC) mining sector experienced severe financial strain since its profits, when converted to U.S. dollars, were negatively damaged by a protracted bear market. The year’s lowest mining […]
Founder: MakerDAO should consider removing DAI from USD
MakerDAO founder Rune Christensen wants to transfer DAI’s collateralization away from USDC in light of the current Tornado Cash and frozen USDC addresses scandal. The decentralized autonomous organization’s (DAO) members have been advised by MakerDAO founder Rune Chirstensen to “seriously consider” planning for the depeg of its DAI stablecoin from the US dollar (USD). The […]
ASIC chair concerned by amount of “risk-taking” crypto investors
The increase in crypto investing during the COVID-19 pandemic has Australia’s financial services authority concerned, particularly among young and novice investors. The sheer number of people who bought “unregulated, volatile” crypto assets during the pandemic has alarmed Australia’s financial services regulator chief Joe Longo. The comments were given by Longo, the head of the Australian […]
Institutional staking won’t take off without asset lock-up
While liquid staking is still being developed, Coinbase’s new institutional staking offering won’t be a “near-term phenomenon”. Institutional staking of cryptocurrency assets, such as post-Merge Ethereum, may become a “phenomenon” in the future, but not as long as their assets need to be “locked up.” Chief Financial Officer (CFO) Alesia Haas said during a Q2 […]