The founders of crypto exchange BitMEX have pled guilty to violating the Bank Secrecy Act after a lengthy litigation process with the U.S. Department of Justice (DOJ). American Arthur Hayes and British Hong Konger Benjamin Delo admitted to “willfully failing to establish, implement, and maintain an anti-money laundering (AML) program” at their crypto derivatives and futures exchange, BitMEX. BitMEX is…
The Advertising Standards Council of India has released guidelines for the advertising and promotion of crypto assets and related services. “We had several rounds of discussion with the government, finance sector regulators, and industry stakeholders before framing these guidelines.” India’s Crypto Ad Guidelines Published The Advertising Standards Council of India (ASCI) published Wednesday “guidelines for advertising and promotion of virtual…
Crypto and nonfungible token (NFT) ecosystem analytics firm BitsCrunch has secured $3.6 million in a funding round led by Animoca Brands, Coinbase Ventures, Crypto.com Capital, and others. BitsCrunch uses AI-based analytical tools to determine the fair price of NFTs, identify wash trading warnings, and determine whether an NFT is a copy or forgery of the genuine asset. The company is…
Russian Bitcoin (BTC) miners are reportedly running as usual despite the government’s invasion of Ukraine this week. According to estimates from the Cambridge Bitcoin Electricity Consumption index, miners in Russia accounted for around 11.2% of the global BTC hash rate as of August 2021. With sanctions on the Russian government coming from the U.S. and allied NATO nations, it is…
The Crypto Council for Innovation, or CCI, has announced that Gemini will be joining its list of crypto-friendly firms aimed at supporting lawmakers on related regulation. In a Thursday announcement, the CCI said that effective as of this week Gemini has joined Coinbase, Block, Fidelity Digital Assets, Paradigm, and others in an effort to “help accelerate [the group’s] growth and…
The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. The Larger Macro Picture Last night, Dylan shared an extensive thread on Twitter covering the current macro picture across stocks, bonds and volatility…
Coinbase’s Q4 financial report vastly exceeded market expectations Thursday, after the firm posted $2.5 billion in net revenue for the quarter, beating analyst predictions by 27%. FactSet consensus had forecasted Coinbase to generate approximately $1.9 billion in revenue for the period. Notably, the popular crypto exchange more than doubled transaction revenue from Q3 to Q4, generating 91% ($2.276 billion) of…
In brief Bitcoin revenue is up from the same quarter last year, as are profits. The company hasn’t mentioned any plans to expand to other cryptocurrencies. Cash App—the popular mobile payment service developed by Block (formerly Square)—has become a highly popular vehicle for purchasing Bitcoin. According to a earnings report today, the company accrued $1.96 billion in Bitcoin revenue during…
Crypto mining operations based in the United States are committed to increasing their hash power with more hardware despite Bitcoin’s (BTC) three-month downturn. The Marathon Digital Holdings and GEM Mining companies in the U.S. told Cointelegraph this week that they each expect the size of their respective operations to grow through 2022 by at least doubling the number of machines…
In the wake of Russia’s incursion into Ukraine, crypto users have taken it upon themselves to raise money in support of the beleaguered nation. To that end, decentralized autonomous organizations, better known as DAOs, are spinning up to help those hurt by the invasion. Political activist and critic of Russian President Vladimir Putin, Nadezhda Tolokonnikova, better known as a founding…
