U.S.-based crypto exchange Coinbase will scale back most of its operations in Japan, according to a recent statement by the company’s vice president for business development and international, Nana Murugesan. Murugesan said in an interview Wednesday: “We’ve decided to wind down the majority of our operations in Japan, which led to eliminating most of the roles in our Japan entity.”…
The World Economic Forum’s annual Global Risks Report flagged the bursting of “asset bubbles” including cryptocurrency as one of the top risks likely to affect countries as a “polycrisis” looms. The report included the results of the 2022 Executive Opinion Survey (EOS), in which the WEF asked a group of 12,000 respondents to rank a list of 35 different risks…
Crypto lender Nexo has found itself the subject of a large-scale investigation in Bulgaria, as prosecutors look into possible money laundering, tax offenses, computer fraud, and other crimes. Over 300 people are involved in the operation in the country’s capital city of Sofia, according to a statement by the Bulgarian Prosecutor’s Office. “Active investigation actions are underway in the capital…
Despite the bullying that gamers inflict on traditional gaming companies dipping their toes into nonfungible tokens (NFTs), executives working within the NFT gaming industry are hopeful that more traditional gaming firms will jump into the space this year. From mainstream gaming companies jumping in, to the relevance of NFT gaming models like play-to-earn (P2E) and move-to-earn (M2E), various industry professionals…
Confidence in Coinbase’s corporate debt has taken a significant hit following the latest round of layoffs at the firm. S&P Global, one of the largest credit ratings providers, has downgraded the crypto exchange’s debt one position from “BBB” to “BB-,” moving it from “investment grade” to “speculative grade.” A rating such as AAA is given to the safest borrowers in…
Chinese billionaire Jack Ma recently agreed to give up control of Ant Group as part of changes to the fintech’s corporate structure, which will supposedly not have an impact on “the economic interests of any shareholders of Ant Group and their beneficiaries.” Once the process is complete, no single shareholder will have control over Ant Group, the fintech said in…
Bitcoin (BTC) hodlers are returning to profit as new data hints the BTC price has put in the “foundation” of a macro bottom. The latest figures from on-chain analytics firm Glassnode shows a large swathe of the BTC supply heading “into the black” as BTC/USD passed $18,000. Bitcoin establishes “massive” accumulation zone After gaining nearly 5% in 24 hours, Bitcoin…
In Hong Kong, the bell rings for Bitcoin (BTC). Samsung Asset Management Hong Kong (SAMHK), a subsidiary of Samsung’s investment arm Samsung Asset Management, is set to list the “Samsung Bitcoin Futures Active ETF” on the Hong Kong stock market on Jan. 13. The move comes amid a surge in interest from both the government and institutional investors in the…
Nigeria’s central bank will explore the adoption of blockchain technology to power a central bank digital currency (CBDC), the potential of stablecoin adoption and regulatory considerations of initial coin offerings (ICOs) over the next two years. These are the key takeaways of a policy document titled Nigeria Payments System Vision 2025, published by the Central Bank of Nigeria (CBN). The…
El Salvador approved a digital assets law aimed at creating legal protection for transfers or issuances of debt with cryptocurrencies. The bill also provides the legal framework for Bitcoin-backed bonds, also known as the “Volcano Bonds,” that the Latin American nation wants to use to pay sovereign debt and fund the construction of the proposed Bitcoin City. The bill was…
