Monica Noronha

Blog Info CryptoSlate
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Stats Has written 73 posts about cryptocurrency

Aug 09 2022

Reddit is forging ahead with blockchain adoption push with FTX partnership

Aug 09 2022 Published at CryptoSlate under tags  exchanges partnerships

As part of its years-long push towards using blockchain to empower its communities, Reddit has partnered with crypto exchange FTX, according to an Aug. 9 press release. The partnership will enable Reddit users to use FTX Pay to pay for gas fees of Community Points transactions. In 2020, Reddit launched...

Aug 08 2022

Mining firm Bit Digital grows Ethereum holdings 594% sequentially in July ahead of Merge

Aug 08 2022 Published at CryptoSlate under tags  mining

New York-based mining firm Bit Digital grew its Ethereum (ETH) holdings by around 594% in July 2022, compared to June, according to its unaudited production update published on August 8. The firm increased its holdings from 313.6 ETH in June to 2,176.9 ETH in July. Consequently, the value of its Ethereum holdings surged from just $0.3 million...

UAE introduces new reporting requirements to counter crypto real estate money laundering

Aug 08 2022 Published at CryptoSlate under tags  regulation

The United Arab Emirates introduced new reporting requirements for real estate transactions involving digital assets in a statement on August 8. The new rules are aimed at clamping down on money laundering and terrorist financing, the UAE government said. Amid Dubai and Abu Dhabi recently attracting throngs of crypto exchanges and businesses to set up shop, a number of real estate developers had...

Aug 04 2022

Pictet Group tells private banks to stay away from crypto

Aug 04 2022 Published at CryptoSlate under tags  banking bear market investments

Amid the current market meltdown, Swiss wealth management firm Pictet Group is cautioning private banks against investing in crypto, Bloomberg News reported Aug 4. Speaking on a panel at the Bloomberg Asia Wealth Summit in Singapore, CEO of Pictet Group's Asia wealth management arm Tee Fong Seng said:...

Virginia pension funds invest in crypto yield farming despite recent turmoil

Aug 04 2022 Published at CryptoSlate under tags  bankruptcy bear market lending

Virginia's Fairfax County Retirement Systems is set to invest its $6.8 billion pension fund in cryptocurrency yield farming to boost returns, the Financial Times reported on Aug 4. The retirement systems fund recently gained approval from its board of trustees for the move, according to the news outlet. Katherine Molnar, chief investment officer of the Fairfax County...

Aug 03 2022

US Senate introduces bill to put CFTC in charge of regulating Bitcoin, Ethereum

Aug 03 2022 Published at CryptoSlate under tags  cftc regulation

Leaders of the Senate Agriculture Committee introduced a bill on Aug. 3 to make the Commodity Futures Trading Commission (CFTC) the chief regulator of digital assets that are commodities. The CFTC currently regulates the derivatives market such as futures and swaps but not underlying commodities. According to the bill, the CFTC would get "exclusive...

Riot Blockchain Bitcoin production drops 28% YOY in July; offsets energy costs by curtailing some operations

Aug 03 2022 Published at CryptoSlate under tags  mining

Riot Blockchain, one of the world's largest Bitcoin mining companies, said Aug. 3 that it mined 318 Bitcoin (BTC) in July, a decrease of around 28.21% compared to the same month in 2021 when it mined 443 BTC. The mining firm attributed the decrease in mining to the...

Aug 02 2022

Zipmex aims to slowly reinstate withdrawals of certain altcoins

Aug 02 2022 Published at CryptoSlate under tags  bankruptcy bear market lending

Crypto platform Zipmex, which froze withdrawals on July 20, is gradually resuming withdrawals from its Z wallet, according to an Aug. 1 blog post. The firm had resumed withdrawals from its Trade wallet on July 22. The firm's Z wallet is used for receiving earnings and...

Billionaire Steven Cohen exits investment in quantitative trading startup Radkl

Aug 02 2022 Published at CryptoSlate under tags  investments people

U.S. hedge fund manager Steven Cohen has pulled out his investment from crypto trading firm Radkl, Bloomberg News reported Aug. 2. Cohen, who owns the New York Mets of Major League Baseball, had...

US Women’s Soccer League sponsorship funds from Voyager in jeopardy after bankruptcy

Aug 02 2022 Published at CryptoSlate under tags  bankruptcy bear market partnerships

The funds promised to the U.S. National Women's Soccer League (NWSL) players by Voyager Digital in a sponsorship deal may not materialize as the lender filed for bankruptcy, Sportico reported Aug. 1. The league has informed the players that there's little hope of receiving the funds from Voyager, according to the report. The NWSL had...

Aug 01 2022

UK introduces new rules for promotion of high-risk assets; crypto in the crosshairs

Aug 01 2022 Published at CryptoSlate under tags  regulation

The U.K's Financial Conduct Authority (FCA) has chalked out tougher rules for the marketing of high-risk investment products, but the new rules do not yet apply to cryptocurrency promotions, according to an Aug. 1 press release. The FCA is waiting for the passing of legislation to see how crypto promotions come under its purview before publishing final rules for the industry, the press...

Poloniex launches new trading system focused on speed, stability and usability

Aug 01 2022 Published at CryptoSlate under tags  exchanges trading

Cryptocurrency exchange Poloniex has launched a new trading system to provide users with greater stability, speed, and usability. The new trading system is based on a "next-generation" matching engine which increased the exchange's order matching speed by 30x, the exchange said in an Aug. 1. press release. It also enhanced transactions per second by 10x while reducing latency by...

Vauld gets three-month moratorium from Singapore High Court for protection against creditors

Aug 01 2022 Published at CryptoSlate under tags  bankruptcy bear market lending vauld

Crypto platform Vauld, which halted customer withdrawals last month, has secured protection against creditors for three months from the Singapore High Court, Bloomberg News reported Aug. 1. Vauld's parent company Defi Payment Ltd. had requested the court for a six-month moratorium. However, the court only granted a moratorium for three...

Jul 30 2022

Metaverse branding’s success depends on its underlying purpose

Jul 30 2022 Published at CryptoSlate under tags  adoption analysis interview metaverse

The growing popularity of the metaverse is driving brands from across sectors to build a presence in the space. The move to the metaverse is understandable, given that Gartner predicts around a quarter of the world’s population will be spending at least an hour in the metaverse every day...

Jul 29 2022

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

Jul 29 2022 Published at CryptoSlate under tags  bankruptcy trading

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) in June when it faced forced liquidation of its positions due to the...

Jul 28 2022

US Senator Brown seeks safeguards disclosures from Apple, Google amid rise in fake crypto apps

Jul 28 2022 Published at CryptoSlate under tags  adoption crime regulation scams

U.S. Senator Sherrod Brown (D-Ohio) sent letters to Tim Cook, CEO of Apple, and Sundar Pichai, CEO of Google and Alphabet on July 28, asking for information about what the companies are doing to protect users from fraudulent cryptocurrency apps. The move comes after the Federal Bureau of Investigation (FBI) issued a...

England Law Commission recommends reforming property laws for digital assets

Jul 28 2022 Published at CryptoSlate under tags  regulation

The Law Commission of England and Wales has proposed reforming existing laws, especially private property law, to protect cryptocurrency users and maximize the potential of the technology. The proposals are laid out in a consultation paper published on July 28 that is seeking inputs from industry stakeholders...

South Korean officials conclude week-long raid in Terra-LUNA case

Jul 28 2022 Published at CryptoSlate under tags  crime legal

After more than a week, South Korean authorities concluded their raids on crypto companies in connection with the Terra case on July 27, Yonhap news reported. The Seoul Southern District Prosecutors Office is investigating the collapse of TerraUSD (USTC) and allegations of fraud against Terraform Labs co-founders Do Kwon and Daniel Shin....

Jul 27 2022

El Salvador seeks to buy back $1.6B of debt to quell default fears

Jul 27 2022 Published at CryptoSlate under tags  investments macro

Amid falling Bitcoin (BTC) prices and rising fears of El Salvador defaulting on its debt, the Central American country is attempting to buy back $1.6 billion of its sovereign bonds. El Salvador President Nayib Bukele tweeted July 26 that he has sent two bills to the parliament to ensure that the country has funds to make a "transparent, public and voluntary...

Jul 26 2022

Stablecoin supply saw the largest quarterly contraction in history in Q2

Jul 26 2022 Published at CryptoSlate under tags  stablecoins

Total stablecoin supply contracted to $151.3 billion in the second quarter of 2022, a drop of 18.8% or $35.1 billion over Q1, according to a report by Arcane Research. This is the largest quarterly drop in supply in the history of stablecoins, the report states. However, the research, which studied the 13 largest stablecoins, showed that...

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