News & Research

Ukraine is considered an emerging hub for money laundering in the cryptocurrency industry, according to a recent report from the UK's Royal United Services Institute (RUSI). The report suggests that by establishing a proper regulatory framework, the country could recover at least $10 billion in stolen funds and lost tax revenue. RUSI stated that Russia has been using cryptocurrency in Ukraine to evade sanctions and launder money. The institute warned that if Ukrainian authorities fail to take action, the country will remain a money laundering hub, and legitimate businesses will likely avoid it.

Cryptocurrency investment firm Digital Currency Group (DCG) plans to raise $500 million through an initial public offering (IPO) in Hong Kong, according to international reports.

An anonymous whale address starting with 0xa740 has swapped Wrapped Bitcoin (WBTC) for ETH, EmberCN reported. Three hours ago, the address exchanged 602.8 WBTC, worth $66.9 million, for 15,083 ETH. The WBTC was originally purchased six days ago at an average price of $110,993. The whale's total holdings now stand at 16,909 ETH, valued at $73.84 million, with an average purchase price of $4,441.

An anonymous whale address starting with 0x4ED0 purchased an additional 5,553 ETH, worth $24.44 million, in the past 40 minutes, Lookonchain reported. Since Aug. 11, the same address has accumulated 18,447 ETH ($81.5 million) at an average price of $4,417 and 1,357 WBTC ($160 million) at an average price of $117,547. The whale then deposited these assets into Aave and borrowed 114 million USDT.

Mastercard has no plans to develop its own blockchain but could review the possibility if necessary, according to Christian Rau, the company's Head of Crypto for Europe. In a recent interview, Rau stated that Mastercard views cryptocurrency as a technology that complements, rather than replaces, the existing payment system. He explained that cryptocurrencies and stablecoins are being gradually integrated into Mastercard's global network, with a particular focus on on- and off-ramp functions for converting between crypto and fiat currency, as well as the issuance of crypto-linked cards. Rau added that the company does not see stablecoins as a threat, but rather as a useful technology that can improve payment speeds and help mitigate foreign exchange risk.

South Korean crypto exchange Coinone announced that it will list Flock (FLOCK) for trading against the South Korean won (KRW) at 3:00 a.m. UTC on Sept. 3.

Over the past 24 hours, the long/short position ratios for BTC perpetual futures on the world's top three cryptocurrency futures exchanges by open interest are as follows: Overall: Long 49.8%, Short 50.2% 1. Binance: Long 49.98%, Short 50.02% 2. Bybit: Long 49.4%, Short 50.6% 3. Gate.io: Long 48.82%, Short 51.18%

Nasdaq-listed Japanese cryptocurrency exchange Coincheck (CNCK) has acquired Aplo, a digital asset prime broker regulated by France's Financial Markets Authority (AMF), CoinDesk reported. The financial terms of the deal were not disclosed. Through the acquisition, Coincheck plans to pursue expansion into the European market.

Binance founder Changpeng Zhao has an estimated net worth of $62.9 billion, making him the wealthiest figure in the cryptocurrency industry, Cointelegraph reported. He is followed by Tether CFO Giancarlo Devasini with $22.4 billion and Coinbase CEO Brian Armstrong with $15 billion.

South Korean crypto exchange Bithumb announced it is temporarily suspending deposits and withdrawals for Starknet (STRK) due to an issue with the mainnet network.