Blockbeat

Get your daily update on all things crypto, blockchain and DeFi with City A.M's Blockbeat from Kaitlin Argeaux

Binance CEO calls for greater regulation as crypto firms face liquidity issues

June 28, 2022

The CEO of Binance urged for greater industry regulation as crypto firms face liquidity issues amidst the crypto rout. “There should be clearer regulatory guidelines on reserves for different types of businesses in the crypto space,” Changpeng Zhao said in an interview with Yahoo Finance on Monday. He also called for disclosure and transparency requirements, [...]
Bugs in the system push Cardano’s Vasil hard fork back to late July

June 28, 2022

Cardano's much anticipated Vasil hard fork - due to be implemented tomorrow - has been postponed while engineers work to fix several bugs.
‘Worrying rise’ in crypto scams claiming to be celebrity endorsed, Santander says

June 28, 2022

Cryptocurrency scams falsely claiming to be endorsed by celebrities are surging, Santander warned. “We’re seeing a worrying rise in ‘celebrity-endorsed’ cryptocurrency scams, where familiar faces are being misused on social media in order to con people out of often life-changing sums of money,” said Chris Ainsley, the bank’s head of fraud risk management in the UK. He warned [...]
SEC Chair calls Bitcoin a commodity and likens other crypto assets to securities

June 28, 2022

Securities and Exchange Commission Chair Gary Gensler called Bitcoin a commodity while likening other crypto assets to securities. “Many of these financial assets, crypto financial assets, have the key attributes of a security,” he said to CNBC’s Jim Cramer on Monday. “Some, like Bitcoin… my predecessors and others have said, they’re a commodity.” He said [...]
BEQUANT launches DeFi platform for institutional clients

June 28, 2022

Digital asset brokerage and exchange BEQUANT has given the green light to industry-first DeFi access for institutional clients.
Working up a sweat to earn cryptocurrency

June 28, 2022

Crypto AM meets Oleg Fomenko, co-founder of Sweatcoin, who says the app has now been fully 'battle tested'.
Crypto markets flat as European stock markets open higher

June 28, 2022

The price of Bitcoin (BTC) continues to hold at above $20k, down around 1.7 per cent to $21,037 this morning.
FCA laments the high number of financial crime ‘red flags’ missed by crypto firms

June 27, 2022

The Financial Conduct Authority said many crypto firms that have applied to register under money laundering regulations miss financial crime “red flags” and have inadequate controls. A spokesperson for the FCA said to City PM: “We have seen too many financial crime red flags missed by the cryptoasset businesses seeking registration.” Some firms do not [...]
Goldman Sachs cuts Coinbase price target and downgrades it to ‘sell’

June 27, 2022

Goldman Sachs reduced Coinbase’s price target from $75 to $40 and cut its rating to “sell” from “neutral” as the crypto market experiences a severe rout. In a report today, the banking giant cited falling cryptocurrency prices and lower industry activity for the downgrade. “We believe current crypto asset levels and trading volumes imply further [...]
Short Bitcoin ETF launches after ‘enormous outflows’ led to crypto crash

June 27, 2022

Data from CryptoCompare shows the price of Bitcoin was slowly recovering throughout last week, moving from around $20,000 to around $21,500.