Category Archives: Cryptocurrency News

Bitfarms cut business development plans after falling profits in Q1 2022

Canadian mining company Bitfarms reported a drop in net profit to $5 million in the first quarter of 2022. In this regard, the company’s management decided to reduce plans for business development. According to Bitfarms financial reports, the company’s net profit for the first quarter of 2022 fell to $5 million, which is 50% less than the profit for the fourth quarter of last year. Therefore, the management of Bitfarms decided to reduce the scale…

Square Enix will make blockchain and Play-to-Earn its business model

The Japanese company Square Enix announced its intention to develop games on the blockchain, invest in the Web3 industry and the metaverse. Square Enix has released a recent financial report and announced its intention to make blockchain and Play to Earn (P2E) technology a part of its business model in the future. The company has disclosed part of its investment program. One of the main goals of the company is to standardize the principles for…

Decentralized Pictures announced the launch of a blockchain application for film financing

Web3 movie funding platform Decentralized Pictures has announced the launch of a blockchain-based application for funding film projects. The service is going to be launched on May 20, during the days of the Cannes Film Festival, company representatives said. The app is to be launched at the same time as the documentary competition that Decentralized is going to sponsor with the Gotham Film & Media Institute. The platform works on the same principle as decentralized…

Grayscale Launches Crypto ETFs in Europe

Investment company Grayscale Investments announced the listing of the exchange-traded fund (ETF) Future of Finance on the London Stock Exchange (LSE), Deutsche Börse Xetra and Borsa Italiana. The company promises that the Grayscale Future of Finance UCITS ETF (GFOF) will allow investors to buy shares and bet on the performance of companies working with digital assets. The fund is based on the Bloomberg Grayscale Future of Finance (BGFOF) index, which tracks the performance of financial…

Brazilian Stock Exchange B3 will launch bitcoin and ether futures

The B3 stock exchange plans to enter the cryptocurrency market within six months, promising users access to a wide range of services. The Brazilian site announced that after six months it will launch its first cryptocurrency product – futures trading on bitcoins (BTC) and ether (ETH). André Milanez, chief financial officer of the company, did not specify whether B3 would form a partnership or offer futures trading directly. There are currently eleven crypto ETFs available…

Chainalysis doubled its market value thanks to an investment round

Chainalysis, an analytics company that provides government agencies with services and tools for tracking blockchain transactions, has raised a $170 million investment. The Chainalysis investment round has taken over as the head of Singapore’s GIC wealth fund, The Information reported. Thanks to the funding, the company is valued at $8.6 billion, making it one of the most expensive cryptocurrency projects. GIC Private Limited is a fund that, according to Bloomberg, owns more than $100 billion…

Japanese SBI buys a direct competitor of its cryptocurrency division

One of the four Japanese financial giants, the SBI Group will acquire a majority stake in the cryptocurrency trading platform BITPoint Japan. The cryptocurrency exchange has long been a competitor of the giant’s cryptocurrency division – SBI VC Trade. SBI buys 51% stake in BITpoint from Remixpoint for a total of $98.6M. BITPoint is now valued at over $193M. As a result of the transaction, SBI will receive 5% of Remixpoint shares. At the same…

Liquidators demand from the creators of the MTI cryptocurrency pyramid to pay $291 million

The liquidators of the largest South African crypto-currency scheme Mirror Trading International demand that its organizers pay $291 million to investors. The liquidators sent a summons to appear in court to eighteen citizens behind the now defunct Mirror Trading International (MTI) project. The offenders are required to pay $291 million to cover the losses of defrauded investors. The decision to take the alleged organizers of MTI to court comes just months after liquidators failed to…

Chainalysis: DeFi services are becoming more popular with cybercriminals

Analysts at Chainalysis claim that illegal activity in DeFi protocols has grown exponentially compared to last year. Chainalysis has published a new report on criminal activity in Web3. According to the study, the overall level of illegal activity in the crypto industry has decreased, but it has sharply increased in decentralized finance (DeFi) protocols. Analysts claim that 97% of the $1.7 billion worth of cryptocurrencies stolen in 2022 came from DeFi protocols. Experts received these…

The Fed once again warned about the risks of stablecoins

The US Federal Reserve (Fed) has published its semi-annual financial stability report, which once again highlighted the risks of using stable cryptocurrencies. The report notes that financial markets, including cryptocurrencies, have been significantly impacted by events in Ukraine, the spread of the Omicron coronavirus strain, and “significant and prolonged inflation.” At the same time, the total capitalization of stablecoins reaches $180 billion, of which 80% falls on the three largest ones – USDT, USDC and…