BUSINESS
Monetary Authority of Singapore to tighten laws for crypto players
Managing Director Ravi Menon says many troubled crypto entities have nothing to do with Singapore. Vauld is currently not licensed by MAS. Singapore will explain its position on cryptos next month, he says.
BUSINESS
Bitcoin can hit $500,000 in 5 years, says billionaire investor Mike Novogratz
While Mike Novogratz claims the worst is over for cryptocurrencies, the market is still reeling from collapse of the Terra blockchain and the fall of major crypto firms Celsius, Three Arrows Capital and Babel
BUSINESS
Cryptocurrency market back above $1 trillion in market capitalisation
However, experts say it is premature to call this the start of a bull run because the bear markets are synonymous with momentary price upswings
BUSINESS
Crypto whale watching: Why investors should track them to generate profit
Crypto whales exert a high influence on the price movements of major cryptocurrencies, and tracking them can reap huge dividends for the eagle-eyed crypto investor
BUSINESS
Crypto investors: How to prevent the rug being pulled from under you
With many new blockchain projects and allied crypto tokens launched regularly, investors can avoid getting conned by heeding a few warning signs
BUSINESS
Kevin O’Leary: Celebrate purging of bad crypto businesses, Bitcoin price will quadruple with regulations
Shark Tank star and millionaire investor Kevin O’Leary weighs in on crypto critics such as Warren Buffet, the overall crypto market, and regulations.
BUSINESS
Sports Metaverse launches virtual land sale
Users can trade NFTs, interact with iconic sportspeople, buy virtual land and do virtual visits of stadiums.
BUSINESS
Digital assets are solutions in search of problems, says Andrew Left
The venture capitalist investor described Web3 – said to be the next version of the internet that runs on blockchain and is decentralised – as a big illusion aimed at taking power away from big tech companies
BUSINESS
Crypto markets have not yet bottomed out: Glassnode
Analysts opine that dominance of long-term holders in supply tends to increase over time, as fair-weather speculators are flushed from the market
BUSINESS
Crypto scam: How were investors duped to the tune of Rs 1,200 crore?
Over 900 investors have allegedly been cheated out of Rs 1,200 crore through a cryptocurrency scam that offered staggering returns of up to 3 percent a day on an investment of Rs 15,000 made to purchase Morris Coin, a fake cryptocurrency
BUSINESS
Understanding how stablecoins have fared in the crypto bear market
Algorithmic stablecoins like Terra have imploded because of a liquidity crisis, but others have displayed a steely resilience in the crypto bear market
BUSINESS
Three Arrows Capital founders whereabouts not known: Lawyers
The founders of the crypto hedge fund that managed $3 billion in digital assets in April are rumoured to have left Singapore
BUSINESS
Reddit to launch blockchain-based collectible avatars store
Blockchain-backed collectible avatars are one of the early steps Reddit is testing for potential benefits to communities on the platform
BUSINESS
As crypto prices climb, experts stay cautious
Fear of recession in the West, surging inflation, rising interest rates and the geopolitical crisis continue to drive extra short-term volatility in the crypto market, and investors would adopt a wait-and-watch attitude
BUSINESS
Want to earn money staking on blockchains? Here’s how
Staking on blockchains is an investing strategy that is gaining prominence and one that promises regular income without requiring any crypto tokens to be sold.
BUSINESS
Crema exploit: Hacker returns stolen funds
The hacker, on June 3, had stolen 69,422.9 SOL and 6,497,738 USDC stablecoin, worth about $9 million at the time of the hack.
CRYPTOCURRENCY
Crypto lender Voyager Digital seeks bankruptcy protection
Voyager filed a plan of reorganisation, citing prolonged volatility and contagion in the crypto markets and a default by Three Arrows Capital on a loan from its subsidiary
BUSINESS
Crypto Conversations: Decoding the recent spate of crypto firms pausing withdrawals
Although critics may argue that the warning signs of the current crisis were always visible, it should be remembered that the crypto space is still at its nascent stages and weak actors or firms will eventually get weeded out
CRYPTOCURRENCY
Crypto crash: ‘Market tourists’ have been purged, says Glassnode
According to Glassnode, address activity declined by 13 percent from over 1 million a day in November, when BTC prices were at an all-time high, suggesting little growth in new users and a struggle to retain existing ones
BUSINESS
Experts slam Centre over decision to levy 1% TDS on cryptos
Trading volumes on major exchanges have taken a massive hit since the TDS rule took effect. Volumes on WazirX were down about 72.5% on July 4, compared to June 30, while volumes on CoinDCX and ZebPay were down 41% and 40%, respectively.
BUSINESS
Vauld halts crypto withdrawals, citing market conditions
CEO Darshan Bathija says the financial difficulties of its key partners affected Vauld and that customers have withdrawn over $197.7 million since June 12, 2022. The Singapore-based firm has most of its employees in India.
BUSINESS
Bitcoin may rally 30%, scale $28,000 by the year-end, forecasts Deutsche Bank
That’s still a far cry from the high of $48,234 level seen in March this year, and an all-time high of nearly $69,000 seen in November 2021. According to JP Morgan, deleveraging of the crypto markets is in an advanced stage, which may see the end of the bear market soon.
BUSINESS
Amid crypto gloom, data provider Kaiko raises $53 million
The round was led by tech-focused London-based fund Eight Roads, with participation from Revaia, another tech fund, based in Paris, and existing investors Alven, Point9, Anthemis and Underscore.
BUSINESS
Street artist Alec Monopoly and HyperMint collaborate to release NFTs
The artist’s Rags to Richie collection provides a street-art, play-to-earn NFT game, a Metaverse club and Digital Art Gallery, in-person exclusive events, and over $1 million in giveaways and prizes as part of its initial plans
