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The San Fransico-based SoFi bank holds almost $170 million in crypto on its balance sheet, according to its second quarter (Q2) earnings report. The United States bank, which serves over six million customers, has seen a significant increase in its crypto holdings compared with the previous quarter.The bank holds Bitcoin
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"Our bitcoin holdings increased to 152,800 bitcoins as of July 31, 2023, with the addition in the second quarter of 12,333 bitcoins being the largest increase in a single quarter since Q2 2021," said Andrew Kang, Chief Financial Officer, in a statement. "We efficiently raised capital through our at-the-market equity
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Canada’s financial watchdog is proposing changes to its capital and liquidity approach to crypto assets, according to an announcement on July 26. According to the Office of the Superintendent of Financial Institutions (OSFI), the proposed rules will simplify institutions’ approach to perceived crypto risks, defining four categories of crypto assets
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“Deposit-taking institutions and insurers need clarity on how to treat crypto-asset exposures when it comes to capital and liquidity,” said Peter Routledge, Superintendent of Financial Institutions, in a statement. “We look forward to giving them this clarity through these new guidelines that reflect industry input and international standards.” Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Arkham Intelligence, a crypto data provider, has disclosed crucial information regarding the crypto holdings and wallet activity of Terraform Labs and its founder, Do Kwon. The revelation came from an anonymous sleuth and renowned crypto analyst, ErgoBTC.
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Tesla maintains its digital asset holdings at $184 million worth of Bitcoin for the fourth consecutive quarter, with no sales or additions reported. According to the shareholder deck presented on July 19, Tesla’s digital asset holdings
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The CCIP protocol is designed to help build cross-chain applications and services and went live for early access users on the Avalanche, Ethereum, Optimism and Polygon blockchains this week. Source
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For the fourth quarter in a row, Tesla hasn’t sold or added to its digital asset holdings with the electric vehicle manufacturer continuing to hold $184 million worth of its remaining Bitcoin (BTC).In Q2 2023 earnings released on July 19 the net value of Tesla’s Bitcoin holdings stood at $184
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Futureverse formed out of the merger of eight companies in late 2022, with three more assimilated subsequently. Original Source
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The South Korean government is continuing to develop tighter regulations targeting the cryptocurrency industry with the introduction of new asset disclosure rules.On July 11, South Korea’s Financial Services Commission (FSC) announced a new bill that will require all firms that issue or hold cryptocurrencies like Bitcoin (BTC) to disclose their
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