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☆ Asia promotes crypto clarity amid regulatory uncertainty in the U.S.
▼ + stars: | 2023-08-17 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Earlier this month, Hong Kong officially opened crypto trading to retail investors and upgraded licenses of two exchanges. "This will further boost investor confidence, making Hong Kong more attractive as a potential global virtual asset hub," said Lai. He concluded some crypto firms could leave the U.S. for more progressive jurisdictions as a result. Asia's regulatory clarityAcross the Pacific, Singapore and Hong Kong offer far more operational clarity for many industry players "Singapore has the first mover advantage in the Asia Pacific region, including being ahead of Hong Kong. watch nowSingapore's Payment Services Act — a framework for regulating payment services and the provision of crypto services to the public — came into effect in January 2020.

Persons: Ben Charoenwong, Lennix Lai, Lai, Ong Chengyi, Chainalysis, Hong, Blockchain.com, Ripple, Hong Kong, Janice Goh, Coinbase, Binance, Brad Garlinghouse, Goh Organizations: Getty, Nurphoto, National University of Singapore Business School, Monetary Authority of, Cavenagh, U.S . Securities, Exchange Commission, SEC, CNBC, MAS Locations: Victoria Harbour, Hong Kong, China, Asia, U.S, Hong Kong . Hong Kong, Singapore, Monetary Authority of Singapore, Thailand, Indonesia, Hong, Pacific

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitstamp to wind down trading of some altcoins for U.S. customers: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Jonathan Levin of Chainalysis explains the firm's work with global law enforcement in tracking down crypto crime.

Persons: explainers, Jonathan Levin, Chainalysis Organizations: CNBC Crypto, CNBC

[1/2] Miniatures of people with computers are seen in front of North Korea flag in this illustration taken July 19, 2023. North Korea has previously denied organizing digital currency heists, despite voluminous evidence - including U.N. reports - to the contrary. “North Korea in my opinion is really stepping up their game,” said Hegel, who works for U.S. firm SentinelOne. The cybersecurity-focused podcast Risky Business earlier this week cited two sources as saying that North Korea was a suspect in the intrusion. "I don't think this is the last we'll see of North Korean supply chain attacks this year," he said.

Persons: Dado Ruvic, ”, JumpCloud, CrowdStrike, Adam Meyers, Tom Hegel, wasn't, Hegel, cryptocurrency, Chainalysis, CrowdStrike's Meyers, Christopher Bing, Raphael Satter, James Pearson, Michelle Nichols, Anna Driver, Bernadette Baum Organizations: REUTERS, WASHINGTON, American IT, Reuters, CrowdStrike Holdings, North, United Nations, U.S, FBI, Thomson Locations: North Korea, Korean, American, Louisville , Colorado, North Korean, New York, Korea, “ North Korea, The U.S, Washington, London

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto regulation bill revived, and new report sheds light on digital asset crime: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Jacqueline Burns Koven, the head of cyber threat intelligence at Chainalysis, explains the data revealed in the company's mid-year crypto crime report.

Persons: explainers, Jacqueline Burns Koven Organizations: CNBC Crypto, CNBC

☆ Crypto firm Circle to cut workforce, focus on core activities
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

July 12 (Reuters) - Circle said on Wednesday it has reduced staff and ended investments in non-core activities as the stablecoin issuer seeks to shore up its balance sheet. Coinbase Global (COIN.O), Chainalysis and Gemini all announced layoff plans earlier in the year after more than a trillion dollars were wiped out from the sector in 2022. "Circle is redoubling its focus on core business activities and execution," the company said in an email to Reuters, adding that it was continuing to hire in "key areas of focus." Crypto news portal CoinDesk reported about the developments at Circle earlier in the day. Reporting by Pritam Biswas in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Pritam Biswas, Vinay Dwivedi Organizations: Coinbase, Gemini, Reuters, Thomson Locations: Bengaluru

Transactions associated with sanctioned entities accounted for 44% of 2022's record-high $20.1 billion worth of crypto crime, Chainalysis said in January. Crypto payments to ransomware attackers hit $449.1 million in the first half of 2023, up $175.8 million from the same period last year, Chainalysis said. If this continues, ransomware attackers will have their second best year on record, the analysts added. "Big game hunting - that is, the targeting of large, deep-pocketed organizations by ransomware attackers - seems to have bounced back after a lull in 2022. At the same time, the number of successful small attacks has also grown," Chainalysis said.

Persons: Chainalysis, fraudsters, Elizabeth Howcroft, Sinead Cruise, Mark Potter Organizations: Thomson

☆ New report shows crypto crime drops 65% in first half of 2023, ransomware attacks rise
▼ + stars: | 2023-07-12 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew report shows crypto crime drops 65% in first half of 2023, ransomware attacks riseJacqueline Burns Koven, the head of cyber threat intelligence at Chainalysis, explains the data revealed in the company's mid-year crypto crime report.

Persons: Jacqueline Burns Koven

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackRock refiles for spot bitcoin ETF, and Binance.US faces falling market share: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Erin Plante, VP of investigations for Chainalysis, explains how the firm's tools helped Israeli authorities disrupt alleged financing for Hezbollah and Iran's Quds Force.

Persons: explainers, Erin Plante Organizations: BlackRock, CNBC Crypto, CNBC, Iran's Quds Force Locations: Iran's Quds

☆ How Chainalysis helped Israel disrupt alleged terrorism financing
▼ + stars: | 2023-07-05 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Chainalysis helped Israel disrupt alleged terrorism financingErin Plante, VP of investigations for Chainalysis, explains how the firm's tools helped Israeli authorities disrupt alleged financing for Hezbollah and Iran's Quds Force. She also reveals what other countries Chainalysis is working with to help detect illicit activity.

Persons: Chainalysis, Erin Plante Organizations: Iran's Quds Force Locations: Israel, Iran's Quds

☆ Crypto is funding businesses in China that fuel the fentanyl trade, Senator Elizabeth Warren says
▼ + stars: | 2023-06-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Crypto is funding businesses in China that supply fentanyl, Senator Elizabeth Warren warned. Digital currencies could be funding $540 billion worth of fentanyl pills on the market, per Elliptic data. That comes as the US battles an opioid crisis, with fentanyl driving a record in overdose deaths in 2022. "That is enough fentanyl to kill nearly 9 billion people, all paid for by crypto," Warren said. Illicit crypto transaction volumes hit a new record of $20.1 billion last year according to the blockchain analytics firm Chainalysis.

Persons: Crypto, Elizabeth Warren, —, Warren, Warren's Organizations: Service, Senate Banking, Center for Disease Locations: China, cryptocurrency

Major players are hoping that the SEC and Washington takes, what crypto watchers see as bluffs, seriously and soften the hard line that regulators have taken on the industry. Coinbase CEO Brian Armstrong said last week that the SEC was on a "lone crusade" with its tough actions against certain crypto companies. "The SEC is a bit of an outlier here," Armstrong told CNBC's Dan Murphy in an interview in Dubai. But he's created some lawsuits, and I think it's quite unhelpful for the industry in the U.S. writ large." "The biggest fear of crypto companies is that regulation will cause panic among crypto investors and prices will go down.

☆ Elon Musk dreams of Twitter's AI power
▼ + stars: | 2023-04-13 | by ( Emilia David | ) www.businessinsider.com time to read: +4 min

Elon Musk's personal AI ambitions. Elon Musk was one of the more prominent names on an open letter calling for a pause in AI development. My teammate Asia Martin points out that Musk's position on AI is contradicted by Twitter's investment in generative AI. Twitter's recent purchase of hardware normally used to develop generative AI products shows the extent of this ambition. Read more on Elon Musk's AI ambitions.

☆ Crypto execs have complaints about the SEC and CFTC. Here's how Chainalysis' policy head believes the industry can find common ground with US regulators.
▼ + stars: | 2023-04-12 | by ( April Joyner | ) www.businessinsider.com time to read: +4 min

The US may not embrace crypto, but it needs clear regulation, Chainalysis' policy head told Insider. The CFTC recently sued Binance, whose compliance head critized regulators at an industry event. Chainalysis' policy head says Congress needs to pass crypto-specific legislation. Similar complaints abounded throughout the Links conference, an industry event recently held by Chainalysis in New York. She pointed to other areas, including Dubai and Switzerland, that have created policy frameworks specifically for digital assets, including crypto.

☆ Crypto exchange Binance expands in Argentina
▼ + stars: | 2023-04-04 | by ( Anna-Catherine Brigida | ) www.reuters.com time to read: +2 min

BUENOS AIRES, April 4 (Reuters) - Crypto exchange Binance, which has been sued by U.S. regulators, said on Tuesday it is expanding services in inflation-hit Argentina, allowing users to buy and sell digital currencies directly with local pesos. Until now, Binance had operated in Argentina only as an intermediary platform to match crypto buyers and sellers. He said local users could transfer pesos to a Binance account and see their balance reflected there in local currency, which would then be usable to buy crypto. As Binance has faced mounting scrutiny from regulators, the exchange has lost some banking partners needed for so-called on-ramp, off-ramp transactions to fiat currencies. "Argentine users know the crypto world," Hinz said.

☆ Important to have regularity clarity in U.S. crypto markets, says blockchain data firm
▼ + stars: | 2023-03-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailImportant to have regularity clarity in U.S. crypto markets, says blockchain data firmJonathan Levin of Chainalysis discusses the cryptocurrency rally, the prospects of a pause in interest rate hikes and inflation.

☆ Venture capitalists swap Paris Hilton for Al Gore
▼ + stars: | 2023-03-03 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +4 min

LOS ANGELES, March 3 (Reuters Breakingviews) - Venture capitalists are trading reality stars for policy wonks. Hundreds of top venture capitalists flocked to Los Angeles this week to congregate at a two-day, invite-only soirée for tech’s elite. For 2022, venture-backed companies collected nearly $240 billion for their coffers, 31% lower than the record $345 billion in 2021, according to Reuters. Crowds piled into the theater at the Museum of Motion Pictures to hear a reality check on climate change from former Vice President Al Gore. CONTEXT NEWSThe 10th annual Upfront Summit took place in Los Angeles on March 1 and 2.

☆ Cyberattack on food giant Dole temporarily shuts down North America production, company memo says
▼ + stars: | 2023-02-22 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +5 min

CNN —A cyberattack earlier this month forced produce giant Dole to temporarily shut down production plants in North America and halt food shipments to grocery stores, according to a company memo about the incident obtained by CNN. “Dole Food Company is in the midst of a Cyber Attack and have subsequently shut down our systems throughout North America,” Emanuel Lazopoulos, senior vice president at Dole’s Fresh Vegetables division, said in a February 10 memo to retailers. “They [customers] are upset, but it happens,” Russell told CNN. Customers started asking questions about the bare shelves, Underwood said, prompting the store to post the Dole memo about the cyberattack on its Facebook page. The multibillion-dollar company — officially known as Dole Plc after a 2021 merger between Dole Food Company and Ireland’s Total Produce — sources produce from dozens of countries around the world.

☆ There needs to be crypto regulation to protect 'good players,' says blockchain data firm
▼ + stars: | 2023-02-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere needs to be crypto regulation to protect 'good players,' says blockchain data firmJonathan Levin of Chainalysis discusses the need for legislation and regulation around cryptocurrency to ensure a safe environment for consumers and investors.

LONDON, Feb 16 (Reuters) - Norway has seized a record $5.8 million worth of cryptocurrency that was stolen by North Korean hackers last year, Norwegian police said in a statement on Thursday. North Korean hackers stole $625 million in March 2022 from a blockchain project linked to the crypto-based game Axie Infinity. "This is money that can be used to finance the North Korean regime and their nuclear weapons programme," Norway's senior public prosecutor, Marianne Bender, said in a statement. North Korea has denied allegations of hacking or other cyberattacks. Norway's national economic crime unit, known as Okokrim, said it had seized 60 million Norwegian crowns ($5.84 million) in "one of the largest seizures of money ever made in Norway" and a record amount for a crypto seizure.

Bored Ape Yacht Club was not the biggest crypto phenomenon, but it was one of the top beneficiaries of celebrity hype. The Bored Apes — a computer-generated collection of 10,000 cartoons — were being presented as a status symbol, membership in an exclusive club. Yuga sued Ripps for trademark infringement, and argues that his maligning of the Yuga apes is nothing more than a profiteering tactic. Hickman, who is Black, thought the Bored Apes looked like stereotypical portrayals of Black people as stupid or lazy. He said he thought this would be obvious to most people the second they saw an image of a Bored Ape.

☆ A company-wide Zoom meeting versus individual calls: Insiders reveal how multi-billion-dollar startups Clari and Workato slashed jobs.
▼ + stars: | 2023-02-06 | by ( April Joyner | Stephanie Palazzolo | Madeline Renbarger | ) www.businessinsider.com time to read: +4 min

Unicorns Clari and Workato are among the latest startups to cut jobs. Workato laid off 10 percent of its workforce, and Clari had its second round of cuts in a year. Clari's layoffs caught the startup's staffers off guard, according to one employee Insider spoke to. Though the layoffs were unexpected, the former Workato employee said, they appreciated the way the company delivered the news. The former Clari employee Insider spoke with said that the spate of layoffs had prompted them to reconsider their dedication to the tech industry.

☆ Crypto investors lost nearly $4 billion to hackers in 2022
▼ + stars: | 2023-02-04 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Cryptocurrency hackers stole $3.8 billion in 2022, according to the blockchain analytics firm's report — up from $3.3 billion in 2021 . Take smart contracts, for example. These digital contracts are the key underlying technologies that allow crypto transactions to be made. Within DeFi, smart contracts are publicly viewable sets of instructions that allow users to borrow, lend or make transactions without an intermediary. Once a user meets the smart contract's terms and conditions, the transaction happens automatically, similar to a vending machine.

☆ Data could help save crypto’s image
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Feb 3 (Reuters Breakingviews) - Cryptocurrency could use a reputational boost right now. So it’s problematic that those who could help legitimize the business aren’t going gangbusters. But a string of bankruptcies in the business has clients cutting back on spending – and some disappearing completely. While Chainalysis, backed by GIC, says it plans to grow overall headcount in 2023, the cuts are the wrong sign for those who use its services. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Crypto hacks stole record $3.8 billion in 2022, led by North Korea groups - report
▼ + stars: | 2023-02-01 | by ( Josh Smith | ) www.reuters.com time to read: +2 min

The report by Chainalysis found hacking activity that "ebbed and flowed" throughout the year, with "huge spikes" in March and October. October was the biggest single month ever for cryptocurrency hacking, with $775.7 million stolen in 32 separate attacks, the report said. "It isn’t a stretch to say that cryptocurrency hacking is a sizable chunk of the nation’s economy," Chainalysis said. Targets in "decentralized finance" or DeFi, a thriving segment in the cryptocurrency sector, accounted for more than 82% of the cryptocurrency stolen in 2022, the report said. Last year saw a record amount of crypto transactions related to illicit activity overall, reaching $20.1 billion, Chainalysis said in January.

☆ Britain sets out plans to regulate crypto industry in wake of FTX collapse
▼ + stars: | 2023-02-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

In a widely-anticipated industry consultation launched Tuesday, the government proposed a number of measures aimed at bringing regulation of crypto asset businesses in line with that of traditional financial firms. A big theme that emerged in 2022 was the rise of risky loans made between multiple crypto firms and a lack of due diligence done on the counterparties involved in those transactions. The collapse of FTX has added urgency to global regulators' attempts to govern the regulation-averse crypto space. The regulatory move comes as crypto firms in both the U.K. and beyond are feeling the chill of a deep downturn known as "crypto winter." Global crypto hub ambitionsThe U.K. wants to become a leader in crypto and blockchain technology on the global stage.

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