Author: Monica Noronha

Babel lost over $280M trading with customer funds; wants to raise up to $300M

CryptoSlate

Embattled crypto lender Babel Finance lost over $280 million while trading with customer funds, The Block reported July 29, citing the firm’s restructuring proposal deck. The report said that Babel Finance lost around 8,000 Bitcoin (BTC) and 56,000 Ethereum (ETH) Read More

Global Bitcoin mining ‘one of the most sustainable industries globally,’ BTC Mining Council claims

CryptoSlate

The use of sustainable energy in Bitcoin (BTC) mining reached 59.5% globally in Q2 2022, a 6% year-on-year increase from Q2 of last year, the Bitcoin Mining Council (BMC) estimates. This makes Bitcoin mining “one of the most sustainable industries Read More

Private but regulated tokens could beat CBDCs, Australian central bank chief says

CryptoSlate

Cryptocurrencies issued by private companies could be better than central bank digital currencies (CBDCs) if the firms are regulated appropriately, Phillip Lowe, governor of the Australian central bank, said on July 17, according to a Reuters report. Lowe’s comments were Read More

New York Yankees employees can get partially paid in Bitcoin with NYDIG partnership

CryptoSlate

Bitcoin (BTC) investment firm NYDIG announced a multi-year partnership with the American baseball team, the New York Yankees, on July 14 to become the team’s official Bitcoin Payroll Platform. The deal will allow the Yankees employees to convert a portion Read More

FSB to submit crypto and stablecoin regulation recommendations in October

CryptoSlate

The Financial Stability Board (FSB), an international body that monitors and proposes rules for the global financial system, will release recommendations to regulate stablecoins and cryptocurrencies in October, according to a statement on July 11. Based in Switzerland, the organization Read More

Belgium starts consultation on classification of crypto as securities and investment instruments

CryptoSlate

Belgium is holding an open consultation to determine if it should classify certain crypto assets as securities, investment instruments, or financial instruments. The Financial Services and Markets Authority (FSMA), the country’s financial regulator, said in a statement: “…the FSMA wishes Read More

India’s crypto tax impacted trading frequency of 83% of traders, says survey

CryptoSlate

A survey conducted by crypto exchanges WazirX and Zebpay found that 83% of traders believe India’s 30% tax on all cryptocurrency and non-fungible token (NFT) transfers has impacted their trading frequency. The survey shared with CryptoSlate included 9,500 respondents who Read More