Pantera plans to raise $1.25B for second blockchain fund: Report

Dan Morehead, founder and CEO of Pantera Capital, reportedly said the hedge fund was planning to raise $1.25 billion for a second blockchain fund. According to a Sept. 28 Bloomberg report, Morehead said Pantera aimed to close the blockchain fund by May. The fund will reportedly invest in digital tokens and equity in an effort to appeal to institutional investors. “We want to provide liquidity for people that are kind of giving up because we’re still very bullish for the next 10 or 20 years,” said the Pantera CEO, according…

Amid sanctions, Russia weighs crypto for international payments: Report

The Russian Federation is reportedly considering accepting cryptocurrencies for international payments in response to Western sanctions against the country that were prompted by its full-scale invasion of Ukraine earlier this year.  The Moscow-based Interfax news agency and Reuters reported Friday that Ivan Chebeskov, who heads the Financial Policy Division within Russia’s Finance Ministry, is actively considering the possibility of incorporating crypto payments. “The idea of using digital currencies in transactions for international settlements is being actively discussed,” he said. According to local newspaper Vedomosti, the Finance Ministry is considering adding…

Fed report finds most Americans who own crypto tend to be high income hodlers

The United States Federal Reserve Board has included data on cryptocurrency in its new Economic Well-Being of U.S. Households in the 2021 report. The Fed’s ninth annual report looked at survey results from 11,000 people questioned in October and November 2021.  The report indicated financial wellbeing is the highest it has been since reporting began, with 78% of U.S. adults “doing okay or living comfortably financially.” That is an increase of 3% over the last three years. As a diagnostic of financial fitness, the report cites the 68% of Americans…

Circle to Issue Weekly USDC Reserve Reports — Tether Publishes May 2022 Assurance Report – Altcoins Bitcoin News

The co-founder and CEO of Circle, Jeremy Allaire, has announced the cryptocurrency firm that issues the stablecoin usd coin plans to provide the public with weekly stablecoin reserve reports. Additionally, the company Tether has also released an assurance report on its stablecoin reserves via the Cayman Islands auditing company MHA Cayman. Circle CEO Says Firm’s Stablecoin Is a ‘Very Efficient Pipe Between Legacy Electronic Dollars and Digital Currency Dollars’ The two largest stablecoin providers, Tether and Circle, want the public to be assured that tether (USDT) and usd coin (USDC)…

UK Regulator to Consider Terra Coins Collapse in New Crypto Rules: Report

On May 13, Terra’s UST algorithmic stablecoin slumped as low as 23 cents, and the LUNA token, created to prevent the UST algorithmic stablecoin from being volatile, fell 96% at one point. An algorithmic stablecoin is one that in theory maintains its peg using only software and rules, meaning it is not necessarily backed by collateral. Instead, the token’s programming, or smart contract, can increase supply if the price is falling or reduce supply if the price is increasing. Author: Camomile Shumba Source link

Coinbase Outlines Cost-Cutting Measures, Employee Grants Amid Weak Results and Crypto Rout: Report

In its first-quarter earnings report, Coinbase reported lower-than-expected revenues, and a quarterly net loss of $430 million, compared with a profit of $840 million in the fourth quarter of 2021. The company said it expected about $1.7 billion of stock-based compensation expenses, up from $1.5 billion previously, citing “hiring trends and year-to-date acquisitions.” Author: Michael Bellusci Source link

Coinbase’s plans to purchase firm behind Mercado Bitcoin fall through: Report

Coinbase and Brazilian company 2TM, the parent company of Mercado Bitcoin, have reportedly scrapped talks around the crypto exchange purchasing the firm. According to a Tuesday Bloomberg report, 2TM and Coinbase have ended discussions around the United States-based crypto exchange buying the Brazilian company, which was valued at more than $2 billion. It’s unclear what led to the purchase not going through, as 2TM reportedly declined to comment and a Coinbase spokesperson said it was simply “committed to the Brazilian market.” Coinbase and 2TM scrapped talks over a possible purchase…