Cryptocurrency Financial News

Softbank-backed 2TM cuts about 90 jobs as crypto winter lingers

Coinbase announced earlier this week that it will pause hiring and cancel several job offers. The cryptocurrency company said it might be put to test by volatility and larger economic factors.

ODI) route to bet on cryptocurrencies abroad with the liberalised remittance facility (LRS) — the customary window for offshore investments by wealthy residents — shut for these exotic digital assets. These ultra-high net worth individuals are using a non-banking finance company — preferably an existing local entity — to sponsor an overseas investment company, a wholly-owned subsidiary, in a financial centre like Dubai. The funds used to capitalise this foreign arm is invested in securities and assets abroad, including cryptos sold on trading platforms outside India. «Unlike the LRS Scheme which restricts direct investment in the financial services sector overseas, the ODI scheme permits regulated financial services companies to invest in the financial services sector under approval route. Such investment is subject to prior approval from the relevant financial regulators in India and overseas. Once a duly approved overseas direct investment is made in a financial services company overseas, such entity should be able to undertake business in accordance with the laws applicable in the relevant overseas jurisdiction,» said Moin Ladha, partner at the law firm Khaitan & Co.

Major cryptocurrencies traded in the green early on June 5 as the global crypto market cap increased 0.74 percent to $1.23 trillion over the last day. Total crypto market volume over the last 24 hours declined 28.77 percent to $43.77 billion.

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"Critical" central banks understand impact of digital money: US policymaker

South African company helps hang local art in virtual world

US CFTC sues crypto exchange Gemini over 2017 statements

The Attorney General of New York has issued an alert, warning people of the “dangerous risks” of investing in cryptocurrencies, as the crypto markets have corrected significantly from their all-time highs.

A coming crypto storm for central banks? Focus on digital money intensifies

Regulating cryptos would protect 'the rest of us': US policymaker

Crypto scam victims lose more than $1 billion since 2021 - FTC

More than 46,000 people reported losing over $1 billion in cryptocurrency scams since the start of 2021, the Federal Trade Commission (FTC) said in a report on Friday.

Major cryptocurrencies traded in the green early on June 4 as the global crypto market cap decreased 3.50 percent to $1.22 trillion over the last day. Total crypto market volume over the last 24 hours declined 12 percent to $61.66 billion.

Police in Seoul, South Korea, have arrested and charged a 30-year-old man after officers reportedly found evidence that he may have stolen some USD 660,000 worth of crypto using data he harvested from a popular social media network.

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Crypto winter is coming - or perhaps it is already here - as the last month has shown the industry has been frostbitten.

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CoinSwitch app has over 18 million registered users and the index is based on real trades done by them.

With the recent cryptocurrency market correction, investors in India have taken a breather from stacking their portfolios. However, in the long term, they remain bullish on the top two cryptos, Bitcoin and Ethereum.