Retail trading platform Robinhood has announced that its crypto revenue grew by 232% in the first quarter. Despite this success, Robinhood faces potential enforcement action by the U.S. Securities and Exchange Commission (SEC), alleging that some of the cryptocurrencies offered on its platform are securities.
Crypto Drives Robinhood’s Profitable Q1
Retail trading platform Robinhood Markets Inc.
Woman Sentenced to 9 Years in Prison for Crypto-Funded Murder-for-Hire Scheme – News Bytes
May 10, 2024
Michelle Murphy, 58, from Bedford, Texas, has been sentenced to nine years in federal prison for attempting to hire a hitman using bitcoin to kill her boyfriend’s lover. Charged in September 2023 and pleading guilty in December, Murphy used the dark web to orchestrate the…
In a recent funding initiative, the Solana-based Agridex project secured $5 million in a pre-seed round aimed at enhancing the tokenization of agricultural commodities. The funding, led by Endeavour Ventures, included contributions from African Crops Limited and Oldenburg…
Coinbase’s chief legal officer has publicly urged U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler to stop misleading the market regarding crypto tokens being securities. His request followed Gensler’s repeated assertions that numerous crypto tokens conform to the legal definition of securities, thereby requiring compliance with SEC regulations.
Coinbase’s CLO to Gensler…
Standard Chartered Bank predicts that a second term for the Trump administration would create a favorable regulatory landscape, leading to a positive outlook for the crypto sector. The bank has revised its forecast citing improved market sentiment after cautioning that…
On Wednesday, the cryptocurrency exchange and derivatives trading platform Bitmex declared its introduction of new trading options. Users now have the opportunity to engage in a broad selection of crypto options, which are margined in bitcoin, USDT, or USDC.
Bitmex…
Australian Tax Office Seeks Personal, Transaction Details from 1.2 Million Cryptocurrency Users
May 8, 2024
The Australian Tax Office reportedly has requested that cryptocurrency exchanges share both personal and transaction details of as many as 1.2 million cryptocurrency users. The revenue collector recognized that some users are fulfilling their tax obligations unknowingly, but maintained that others are intentionally avoiding payment.
Australian Tax Office Targets 1.2 Million Cryptocurrency…
GoMining Secures Bitscale Capital Backing to Accelerate Its NFT-Based Bitcoin Mining Operation
May 8, 2024
PRESS RELEASE. British Virgin Islands / Wednesday / GoMining, the infrastructure company easing access to Bitcoin mining with its Liquid Bitcoin Hashrate protocol, has raised $3 million through a direct investment from Bitscale Capital, a top international VC fund.
The…
North American bitcoin miner, Hut 8, said it mined 148 bitcoins, or 36% coins less in April than it did in March. Hut 8 primarily attributes the decrease in the number of mined bitcoins to the relocation of its proprietary miners, which were previously hosted at the Kearney…
JPMorgan has highlighted a significant increase in selling and profit-taking across equity and crypto markets, driven largely by retail investors. The global investment bank also observed institutional momentum traders and quantitative funds reducing positions, particularly in stocks, bitcoin, and gold.
Insights on Market Trends by JPMorgan
JPMorgan, a global investment bank, has provided insights…
