Crypto

Crypto exchange Kraken has no U.S. SEC registration plans, says incoming CEO

Crypto exchange Kraken has no U.S. SEC registration plans, says incoming CEO

By Hannah Lang Sept 23 (Reuters) - Cryptocurrency exchange Kraken has no plans to delist tokens the U.S. Securities and Exchange Commission has labeled as securities, or to register with the agency as a market intermediary, said incoming chief executive officer Dave Ripley on Thursday. The stance of the San Francisco-based platform, which says it has more than nine million clients, underscores the challenges the securities regulator is facing in its effort to rein in the crypto industry.

Stablecoin Tether's reserves fell $16 bln in second quarter due to redemptions

Stablecoin Tether's reserves fell $16 bln in second quarter due to redemptions

By Elizabeth Howcroft and Samuel Indyk LONDON, Aug 19 (Reuters) - Tether, the world's largest stablecoin by market value, said on Friday it had reserves worth $66.4 billion at the end of June, down from $82.4 billion at the end of March, a fall which Tether said was due to fulfilling $16 billion worth of redemptions. The reserves statement on Tether's website came a day after it said it had switched to accountancy firm BDO Italia to certify its reserves and would aim to release monthly reports b

Stablecoin Tether's reserves fall by $16 billion in second quarter

Stablecoin Tether's reserves fall by $16 billion in second quarter

LONDON, Aug 19 (Reuters) - Stablecoin Tether's reserves were worth $66 billion at the end of June 2022, down from $82.4 billion at the end of March, the company said in a statement on Friday. Tether's holdings of U.S. Treasury bills fell to $28.9 billion in the second quarter, the statement by accountant BDO Italia said, compared to $39.2 billion in the first quarter.

Sudden crypto drop sends bitcoin to three-week low

Sudden crypto drop sends bitcoin to three-week low

By Tom Westbrook and Hannah Lang SINGAPORE/WASHINGTON, Aug 19 (Reuters) - Cryptocurrencies fell sharply on Friday, with sudden selling dragging bitcoin to a three-week low, with analysts divided over the reason behind the decline. Bitcoin fell as much as 7.7% to $21,404 over a few minutes during the European morning, at around 0640 GMT. It recovered slightly to trade around $21,528 at 1651 GMT, down 8.05% on the day.

Safe-haven flows set U.S. dollar for biggest weekly rise since April 2020

Safe-haven flows set U.S. dollar for biggest weekly rise since April 2020

By Joice Alves LONDON, Aug 19 (Reuters) - The U.S. dollar index surged on Friday and was on track for its biggest weekly gain since April 2020 on safe-haven demand, as investors worried about a further economic slowdown after Federal Reserve officials reiterated the need for higher rates. The dollar index =USD rose 0.5% to 108.01, its highest since July 15. The gauge is on track for a 2.2% rally this week, which would be its best weekly performance in more than two years.

Euro, sterling slip to month low on renewed growth fears

Euro, sterling slip to month low on renewed growth fears

By Joice Alves LONDON, Aug 19 (Reuters) - The euro and sterling slipped to a one-month low versus the safe-haven U.S. dollar on Friday with investors worrying about further economic slowdown after Federal Reserve officials reiterated the need for higher rates. The dollar index =USD rose 0.2% to 107.69, after earlier touching 107.74, its highest since July 18. The gauge is on track for a 1.9% rally this week, which would be its best weekly performance in ten weeks.

Crypto lender Hodlnaut lays off staff, reveals police probe

Crypto lender Hodlnaut lays off staff, reveals police probe

Aug 19 (Reuters) - Troubled crypto lender and borrower Hodlnaut on Friday laid off about 40 employees since pausing crypto withdrawals and disclosed an investigation by the Singapore police. The company, which applied for a form of creditor protection last week, did not reveal further details about the police proceedings. "While Hodlnaut is unable to disclose any information in this regard, these actions are taken in what we believe to be in the best interests of our users," it said, on the poli

Sudden crypto drop sends bitcoin to 3-wk low

Sudden crypto drop sends bitcoin to 3-wk low

SINGAPORE, Aug 19 (Reuters) - Cryptocurrencies fell sharply on Friday, with sudden selling dragging bitcoin to a three-week low. The reason for the drop was not immediately clear. Bitcoin fell as much as 7.7% to $21,404 over a few minutes during the European morning. It recovered slightly and last stood at $22,047. Ether ETH=BTSP was last down 5% a

Dollar hits 1-month high as Fed officials talk up rate hikes

Dollar hits 1-month high as Fed officials talk up rate hikes

By Kevin Buckland TOKYO, Aug 19 (Reuters) - The U.S. dollar climbed to a fresh one-month high against major peers on Friday as Federal Reserve officials continued to talk up the need for further interest rate hikes ahead of their key Jackson Hole symposium. The dollar index =USD rose 0.14% to 107.63, after earlier touching 107.72, its highest since July 18. The gauge is on track for a 1.86% rally this week, which would be its best weekly performance since June 12. The greenback rose to 136.38 ye

Dollar hits 1-month high as Fed officials talk up rate hikes

Dollar hits 1-month high as Fed officials talk up rate hikes

By Kevin Buckland TOKYO, Aug 19 (Reuters) - The U.S. dollar climbed to a fresh one-month high against a basket of major peers on Friday as Federal Reserve policymakers continued to talk up the need for further interest rate hikes ahead of their key Jackson Hole symposium next week. The dollar index =USD rose 0.121% to 107.620, after earlier touching 107.68, its highest since July 18. The gauge is on track for a 1.89% rally this week, which would be its best weekly performance since June 12. The

Nigeria's central bank targets unbanked users to boost eNaira app

Nigeria's central bank targets unbanked users to boost eNaira app

ABUJA, Aug 18 (Reuters) - Nigeria aims to expand usage of its eNaira digital currency by attracting users without bank accounts after a first phase adoption scored 850,000 downloads by bank customers, Central Bank Governor Godwin Emefiele said on Thursday. Nigeria, the first African nation to launch a digital currency, is targeting 8 million users for the app launched in October.

Stablecoin Tether hires BDO Italia for monthly proof-of-reserve reports

Stablecoin Tether hires BDO Italia for monthly proof-of-reserve reports

By Elizabeth Howcroft LONDON, Aug 18 (Reuters) - Tether, the world's largest stablecoin, said on Thursday it had appointed accounting firm BDO Italia to vouch for its asset reserves, and aims to publish its reports monthly rather than quarterly by the end of the year. Stablecoins are a type of cryptocurrency designed to keep constant value, such as a 1:1 U.S.