Get the daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the tales flying individually distinct of today’s crypto news.
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Regulation news
- The Financial Authority of Singapore (MAS) reprimanded hedge fund Three Arrows Capital for supplying falsehoods towards the MAS and exceeding the assets under management (AUM) threshold permitted for any registered fund management company. The watchdog continues to be investigating these contraventions since June 2021, they stated, and also the MAS has become assessing when there were further breaches.
- The United States Treasury Department and also the Irs (IRS) will probably push off a The month of january date for crypto brokers and exchanges to start tracking data for example customers’ capital gains and losses, Bloomberg reported, citing undisclosed people acquainted with the problem. Within law went by Congress last November, crypto firms are meant to begin recording their clients’ detailed transaction data in 2023, they stated.
Investments news
- Crypto investment products assets under management (AUM) arrived at record lows in June 2022, with exchange-traded funds (ETFs) experiencing and enjoying the largest drop, declining 52% to USD 1.31bn, according to some report from crypto analytics firm CryptoCompare. Trust products, that have a share of the market of 80%, fell 36% to USD 17.3bn in June, while exchange-traded goods (ETCs) and exchange-traded notes (ETNs) fell 37% and 31% to USD 1.34bn and USD 1.61bn, correspondingly, they added.
- Crypto market maker and finance company Genesis Buying and selling is facing potential losses in to the “hundreds of millions,” CoinDesk reported, citing three undisclosed people acquainted with the problem. The losses at Genesis relate partly to contact with over-leveraged hedge fund Three Arrows Capital and crypto loan provider Babel Finance, per the report.
- R3WIND, a relevant video platform that desired to revive former movie rental company Blockbuster within the Web3 space, announced that the organization that presently owns the now-defunct business, Dish Network, declined to market it.
- Investment firm Société Générale-Forge, a subsidiary of banking giant Société Générale, partnered with digital asset infrastructure provider METACO to orchestrate its digital asset child custody operations.
- Web3 data lake solution KYVE stated it’s elevated USD 9m in funding and can make use of the proceeds to construct support for additional environments.
Security news
- Blockchain analytics firm Elliptic stated it’s tracked approximately ETH 35,000 (USD 39m) that’s been sent through crypto mixer Tornado Cash, stolen in Harmony’s Horizon Bridge hack, which their analysis signifies the hack and subsequent asset washing are in line with activities from the Lazarus Group, a cybercrime group with strong links to North Korea.
Exchanges news
- Coinbase is centered on accumulating its presence in Europe and it is while registering in markets including Italia, The country, France, and also the Netherlands, where they plan to have both retail and institutional products, Nana Murugesan, Coinbase’s VP of economic Development and Worldwide, told Bloomberg.
Payments news
- Financial services platform Cash Application announced Round Ups, an element that lets customers round all of their Cash Card purchases to the nearest dollar, while using spare change once they spend to instantly purchase stock, ETFs, or bitcoin (BTC).
Blockchains news
- Blockchain infrastructure provider Klever announced it’ll launch its layer 1 blockchain KleverChain’s mainnet on This summer first.
Entertainment news
- The OneCoin crypto Ponzi plan, which apparently netted its founder Ruja Ignatova around USD 4bn, gets a 3-part documentary series underneath the working title “Crypto Queen”, per Variety. The documentary also features exclusive contributions from Jonathan Levy, a lawyerOrlawyer that has symbolized efforts to secure USD 11bn in compensation from OneCoin, and Timothy Curry, among the first to warn concerning the OneCoin scam.
