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2022-11-09 09:14:02 Coinbase Germany ordered to address risk management by BaFin

Germany’s financial supervisor, BaFin, has ordered the German branch of crypto exchange giant Coinbase to “ensure proper business organization,” the regulator wrote in an official statement published on Tuesday. BaFin indicated violations of the German Banking Act, pointing at two particular sections. One section outlines requirements for sustainable development. The German regulator also expects Coinbase to “ensure ongoing appropriate and effective risk management that includes the outsourced activities and processes,” following the Banking Act. The order has been in effect since Oct. 27. "Coinbase is committed to meeting all legal requirements under this regime.

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2022-11-06 03:14:01 Pre-production Solana phone to ship to developers in December

Pre-production versions of the Solana phone will be shipped to developers from Dec. 15, as the phone gears up for introduction in early 2023. Around 3,500 developer-focused kits have been manufactured and are boxed up, according to an update at Breakpoint, Lisbon. The last hurdle is the release software that’s going through final testing. The phones will let developers in the Solana ecosystem test decentralized applications for the Solana dApp store. They will also let developers try out the Solana Mobile Stack and the Seed Vault, the way the phone stores private keys.

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2022-11-05 20:09:01 EU Delays Vote on MiCA Crypto Legislation Until February

The European Parliament was to take its final vote on the Markets in Crypto-Assets legislation in an upcoming plenary session in November. But the draft needs to be translated into the 24 official EU languages. But since the text is technical and lengthy, the regulation’s adoption is now anticipated for February 2023. The MiCA legislation gives European regulators a period of 12 to 18 months to write and apply new rules based on the legislation. During this time, Europe’s financial supervisors and the European Commission will iron out final details as to how to implement the law.

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2022-11-05 15:14:02 Coinbase burns $546M of USD resources as it reports another quarter in the red with a 55% revenue decline

Coinbase reported its third-quarter earnings after the bell on Nov. 3, revealing a decline of 55% in revenue year-over year as Q3 revenue came in at $590.3 million, down from $1.31 billion in Q3 2021. The company’s also recorded a net loss of $540.6 million, or $2.43 per share, versus net income of $402.3 million, or $1.62 per share, in the third quarter last year. Assets on platform at the end of Q3 totaled $101 billion, a decline of $154 billion from Q3 2021. The company’s market share of the total crypto market capitalization also fell to 9.6% at the end of Q3 from 9.9% at the end of Q2. Coinbase noted that trading volume has been shifting away from the U.S.

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2022-11-05 09:14:02 Terra Do Kwon wants to invite the police for a conference

Embattled Terra founder Do Kwon said he would throw a meetup/conference to end all the talks of him being in hiding soon, according to a November 3 tweet. Kwon stated that those spreading falsehood would have a VIP invitation to the event and also expressed willingness to pay for their plane ticket. Since Terra’s crash in May, the crypto community has extensively wondered about his location. South Korean authorities stated that Kwon had left Singapore for Dubai. South Korean prosecutors also claim they have found evidence of price manipulation. The reported evidence is a “messenger conversation” between Kwon and a former Terraform Labs employee, where he ordered that the price of LUNC be manipulated.

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2022-11-05 03:14:01 High Taxes Can Kill the Crypto Industry in India, CZ Cautions

Besides existing taxes, a new draft ITR form suggests that foreign businesses could be taxed if they have got a user base in India. India’s anti-crypto policy came into sharp focus at the prestigious Singapore Fintech Festival (2-4 November), where Binance CEO flagged high tax rates as undoing the fledgling crypto business in the country. Binance CEO Changpeng Zhao (CZ), during a panel discussion at SFF that was live-streamed, said, “India has high tax, which is probably going to kill the industry.” He was referring to new crypto taxes that became effective from April this year, media reports noted.

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2022-11-04 20:20:18 Fidelity turns its attention to retail investors with new crypto offering

The investment powerhouse opened up a waiting list for Fidelity Crypto, which it says will offer commission-free trading of bitcoin and ether alongside traditional stock investments in one app. Other cryptocurrencies are being evaluated and could be added in the future. The product is getting rolled out just weeks after Fidelity Institutional President Michael Durbin said he sees more room for crypto in consumer portfolios. Fidelity has been quicker to embrace digital assets than most other large investment companies.

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2022-11-04 15:14:02 ApeCoin DAO approves $4.4 million bug bounty program on Immunefi

The ApeCoin DAO has voted to approve a $4.4 million bug bounty program with ethical hacking platform Immunefi, aiming to guard its upcoming token staking mechanism from hacks. ApeCoin is a decentralized autonomous organization (DAO) that oversees the development of apecoin, a token used within Yuga Labs. According to a snapshot vote that ended today, ApeCoin DAO members approved a proposal titled AIP-134, a funding request of 1 million APE ($4.4 million) for the bounty program to go live on an ethical hacking platform called Immunefi. Under the bounty program, researchers on Immunefi's platform will win rewards for finding software flaws.

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2022-11-04 09:14:02 China holds $3.9B worth of Bitcoin despite anti-crypto stance

CryptoQuant co-founder Ki Young Ju said the Chinese government is a crypto whale, despite its negative posture toward the industry. According to Young Ju, China holds $6 billion worth of cryptocurrencies — including 194,000 Bitcoin ($3.9 billion), 833,000 Ethereum ($1.2 billion), and several other unnamed digital assets — it seized from the PlusToken scam in 2019. The PlusToken scam was a Ponzi scheme that began in 2018 and had investors mainly from China and South Korea. Reports stated that the scheme had swindled investors off over $2 billion in digital assets in 2019. Meanwhile, CryptoQuant analysis revealed that the scammers have cashed out over 90,000 BTC using mixers through various addresses.

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2022-11-04 03:03:01 Dogecoin Above 200-Day Moving Average by Most Since June 2021

The Twitter (TWTR)-inspired rally in the price of dogecoin (DOGE) over the past week has pushed that cryptocurrency well above its technically notable 200-day moving average. the world's richest person, closing his Twitter purchase and hope of some sort of integration with the popular social-media platform. "Dogecoin rallied over 100% last week on speculation of integration with Twitter. The surge is meaningful on its chart, noting the breakout above the 200-day MA and former peaks," Katie Stockton, founder and managing partner of Fairlead Strategies, wrote in a note to clients.

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