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Major American cryptocurrency exchange Coinbase saw its long-term issuer credit rating downgraded from BB+ to BB status by rating agency S&P Global following its latest earnings report this year.The agency confirmed the downgrade in a note on Thursday, pointing toward Coinbase’s weaker performance in the second quarter of 2022 as
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"Competitive risk has intensified in the crypto exchange sector, with the company's market share decreasing this year," S&P Global wrote. "We believe that as a result of market share erosion and a higher risk of margin compression, cyclical variations (peak-to-trough changes in revenue, EBITDA, and EBITDA margin) for Coinbase have
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The financial regulator of Taiwan has asked local banks not to allow the use of cards for payments in transactions involving cryptocurrencies, local media revealed. The authority says these assets are risky while associated cash flows are hard to monitor. Taiwanese Regulator Urges Banks Not to Allow Crypto-Related Payments With Bank
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The country's financial regulator sent a letter to the banking association asking credit card companies to stop taking on crypto firms as merchants. Source
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Taiwan’s Financial Supervisory Commission (FSC), a chief financial regulator, issued a note to the banking industry, indicating that they should not grant the virtual assets providers (VASPs) the status of merchant in operations with credit card holders. That means a de-facto ban on buying crypto with a credit card on
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But were they? If their victory condition is “no credit is ever extended based on a crypto asset ever again,” they guarantee a loss. Yes, the lending industry has taken a hit, but it certainly won’t cease to exist. The desire for leverage and a lower cost of capital on
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Cred Protocol, a decentralized credit scoring startup has unveiled the results of its first automated credit scoring system for users of decentralized finance (DeFi).Cred Protocol CEO Julian Gay, outlined the results in a Twitter thread which showed how Cred successfully utilized past transaction behaviour on the Aave protocol to assess
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press release PRESS RELEASE. INTERNET CITY, DUBAI, Jul. 10, 2022 – LBank Exchange, a global digital asset trading platform, has listed LYO Credit (LYO) on July 7, 2022. For all users of LBank Exchange, the LYO/USDT trading pair is now officially available for trading. Bringing the crypto world into user’s smartphone,
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Voyager's stock, already battered by the crypto market selloff, was trading at 27 cents at market close Tuesday, giving the company a market cap of $65 million Canadian dollars (around $50 million USD). That's smaller than the $75 million unsecured loan issued by Alameda Research, according to the bankruptcy filings. Original
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