Robinhood Reports 161% Surge in Q2 Crypto Revenue
Robinhood Markets announced a record-breaking $682 million in revenue for the second quarter, highlighting a 161% rise in cryptocurrency revenue. Robinhood’s assets under custody also saw a 57% increase, driven by key acquisitions and the rising value of both equities and cryptocurrencies. Robinhood Reports Record Q2 2024 Revenues Driven by Cryptocurrency Trading Robinhood Markets, Inc. […]
Global Asset Freeze Targets Fugitive ‘Cryptoqueen’ and Onecoin
A London high court has announced a global asset freeze targeting Onecoin’s co-founder Ruja Ignatova and associates. Over 400 investors sought this legal action after losing millions in the Onecoin cryptocurrency scam. The asset freeze prevents further movement of Ignatova’s wealth, possibly aiding victims’ compensation. Onecoin’s Ruja Ignatova Faces Global Asset Freeze Amid Investor Lawsuit […]
Tether to Increase Its Workforce to 200 by Mid-2025, Says CEO Paolo Ardoino
The CEO of stablecoin issuer Tether Holdings Ltd. has announced plans to increase the company’s employee headcount to 200 by mid-2025. The firm stated that a majority of the new employees will be assigned to the compliance team, while others will join the finance team. A Finance Behemoth With a Lean Structure Stablecoin issuer Tether […]
Grayscale Report: Liquidated Long Perpetual Positions Fueled ETH’s Black Monday Flash Crash
Ethereum’s Aug. 4 decline could have been fueled by the liquidation of a portion of long positions in perpetual futures, the Grayscale report concluded. The crypto asset’s decline was epitomized by its over 7% drop in just three minutes on Aug. 4. Jump Crypto’s rumored offloading of more than 17,500 ether coins, as well as […]
Grayscale Report: Liquidated Long Perpetual Positions Fueled ETH’s Black Monday Flash Crash
Ethereum’s Aug. 4 decline could have been fueled by the liquidation of a portion of long positions in perpetual futures, the Grayscale report concluded. The crypto asset’s decline was epitomized by its over 7% drop in just three minutes on Aug. 4. Jump Crypto’s rumored offloading of more than 17,500 ether coins, as well as […]
New York Federal Reserve Staff Paper on Tornado Cash Concludes Ethereum Is ‘Not Immune to Censorship and Cooperation’
A staff report published by several New York Federal Reserve employees found that Ethereum “is not immune to censorship and cooperation,” which depends on the roles of several actors across the network. The paper examined how the network performed after Tornado Cash, one of the main mixers in the blockchain, was sanctioned by the OFAC. […]
Polymarket’s Integrity Questioned Over Venezuelan Presidential Election Bet Outcome
Polymarket, a cryptocurrency-based prediction market, has declared Edmundo Gonzalez, the opposition candidate, the winner of the Venezuelan presidential election bet. The decision, made days after the election, ignores the official results announced by the National Electoral Council (CNE), which proclaimed Maduro as president amidst fraud allegations from opposition leaders. This prompted several users to question […]
Coinbase Challenges CFTC Proposal, Advocates for Balanced Regulation of Event Contracts
Coinbase Chief Legal Officer Paul Grewal has raised concerns on social media regarding the Commodity Futures Trading Commission’s (CFTC) proposed rule to ban certain event contracts. Coinbase has also formally responded to the proposal, urging the CFTC to reconsider its stance, which the company argues could stifle innovation in the prediction markets. Coinbase Urges CFTC […]
Ripple Starts Beta Testing of USD-Pegged Stablecoin on XRP Ledger and Ethereum
Ripple Labs has initiated beta testing for ripple usd (RLUSD), a stablecoin pegged to the U.S. dollar, on both the XRP Ledger and Ethereum mainnets. The stablecoin is currently not available for public trading as it awaits regulatory approval. Ripple’s USD-Backed Stablecoin Enters Beta Phase Ripple usd or RLUSD, designed to maintain a 1:1 value […]
Bloomberg’s Mike McGlone: Recession Fears Could Drive Gold to $3,000
In a recent interview with Kitco News, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, warned that the current economic situation might surpass the 2008 financial crisis in severity. Drawing comparisons to pre-2008 indicators, McGlone highlighted significant risks of increased stock market volatility and global recession, particularly emphasizing economic challenges in China. He suggested that […]
