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Andrew Asmakov

Andrew Asmakov

Andrew has more than two decades of journalism experience and began covering crypto in 2012. He is also the founder of Cryptoevents.global, an online platform covering major events happening in the industry. Disclosure: No significant cryptocurrency holdings.

Stories by Andrew Asmakov

  • HSBC is one of Europe's largest financial institutions. Image: Shutterstock.

    HSBC, Ripple-Backed Metaco to Launch Tokenized Custody Service Next Year

    Major global banking institution HSBC today announced a partnership with Metaco, a tech firm owned by Ripple, to introduce an institutional custody platform for tokenized securities. The bank, which boasted a whopping $9.1 trillion in custody at the end of 2022, aims to launch the new service in 2024, in sync with its existing digital asset issuance platform, HSBC Orion, as well as the recently introduced gold tokenization solution. According to Zhu Kuang Lee, chief digital, data, and innovation...

    NewsBusiness
    3 min read
    Andrew Asmakov
  • The Open Network's native token Toncoin (TON). Image: Shutterstock

    Toncoin Briefly Overtakes Dogecoin Amid 8% Rally

    Toncoin (TON) is enjoying another bullish moment as the price of the token surged 8.4% overnight. At the time of this writing, TON is changing hands at $2.61, a level last seen in February 2022, as the latest price action also saw the asset’s market cap soar over $10.5 billion and briefly reclaim the 10th spot in the rankings at the expense of Dogecoin (DOGE). TON, a blockchain system based on the proof-of-stake model, originated as Gram, a cryptocurrency created by the popular messaging app Tel...

    NewsCoins
    3 min read
    Andrew Asmakov
  • Image: Sui Foundation

    Sui Taps Space and Time, Bringing Zero-Knowledge Tools to Web3 Games

    Developers building on the speedy layer-1 blockchain Sui now have access to a full stack of zero-knowledge-proof-based (ZK) tools. The move is possible thanks to a new tie-up with the Microsoft-backed data platform Space and Time (SxT). Critically, these tools are expected to accelerate the burgeoning Web3 gaming niche on the SUI network, SxT's CTO and co-founder Scott Dykstra told Decrypt. “Those ZK-proven query results can be connected directly to smart contracts on Sui or used to build verifi...

    NewsGaming
    2 min read
    Andrew Asmakov
  • PHOTO CREDIT: Unsplash

    XRP, Cardano And Solana Lead Crypto Gains Over the Week

    It's been a bullish week for three of the market's largest altcoins XRP, Cardano, and Solana. XRP has enjoyed a hefty rally, hitting nearly 20% in the last seven days. It's now trading hands at just under $0.69 after falling some early Tuesday morning. That price now puts the token at a three-month high. This week's rally is just the latest in a longer stretch of bullish fortune for XRP. XRP Leads Crypto Market Rally, Soaring 12% Overnight Back in October, U.S. District Court judge Torres blocke...

    NewsMarkets
    3 min read
    Andrew Asmakov
  • Bank of England. Image: Shutterstock

    Self-Custodial Wallets Could Challenge Stablecoin Issuers' Ability to Satisfy Regulations: BoE

    Stablecoins circulating in the market aren't currently seen as having "systemic importance," wrote the Bank of England in a new discussion paper. But that may soon change. If there are pound-based stablecoins being used daily in the UK, such a crypto asset would likely have a much greater influence over the economy. That's why the same discussion paper also outlined what a potential regulatory framework would look like should that happen. Critically, the paper raises key concerns about the use o...

    NewsBusiness
    3 min read
    Andrew Asmakov
  • Solana. Image: Grant Kempster/Decrypt

    What Is Solana? A Scalable, Decentralized Network for Dapps

    Decentralized applications, or dapps, are widely regarded as one of the key use cases for blockchain technology. In the last few years, dapps have come on in leaps and bounds, with dapp developers launching everything from games to decentralized finance (DeFi) platforms on blockchain—and a concomitant explosion in user interest. But there's a problem. The vast majority of these dapps run on Ethereum, which has struggled to keep up with rampant demand—leading to congestion on the network and soar...

  • Bitcoin and Cash App. Image: Shutterstock

    Block Stock Soars as Cash App’s Bitcoin Revenue Hits $2.42 Billion

    Block, the fintech firm led by the former Twitter CEO Jack Dorsey, saw its share price jump by more than 20% to over $52 in after-hours trading on Thursday, after reporting better-than-expected Q3 earnings. The company, formerly known as Square, posted a net revenue of $5.62 billion, up 24% year-over-year (YoY), and an adjusted EBITDA–earnings before interest, taxes, depreciation and amortization–of $477 million, up 32% over the same period of time. The strong performance was largely driven by a...

    NewsBusiness
    3 min read
    Andrew Asmakov

  • So You Want to Short Ethereum? There's an ETF for That

    ProShares, a U.S.-based issuer of exchange-traded funds, today announced the launch of ProShares Short Ether Strategy ETF (SETH), letting investors profit from declines in the price of Ethereum (ETH), the second-largest cryptocurrency by market capitalization. SETH, which is set to start trading on the New York Stock Exchange’s (NYSE) Arca, seeks to deliver the inverse of the daily performance of its underlying benchmark—the Standard & Poor's CME Ether Futures Index. “You will lose money when th...

    NewsBusiness
    2 min read
    Andrew Asmakov
  • MicroStrategy went all in on Bitcoin. Image: Shutterstock

    MicroStrategy Buys More Bitcoin as Q3 Loss Widens

    Software company MicroStrategy has announced that it has bought another 6,067 Bitcoin for $167 million since the end of Q2 2023—bringing its total holdings to 158,400 Bitcoin acquired for a total cost of $4.69 billion, or $29,586 per coin. The company, which has been one of the most aggressive corporate buyers of Bitcoin, said it acquired the additional coins at an average price of $27,531. This includes the acquisition of an additional 155 Bitcoin for $5.3 million in October, as revealed by Mic...

    NewsBusiness
    3 min read
    Andrew Asmakov
  • Bitcoin fraud is common. Image: Shutterstock

    Crypto Tips Dominate Whistleblowing Activity This Year, Says CFTC Commissioner

    The Commodity Futures Trading Commission (CFTC) has paid out a total of $16 million to individuals who offered information leading to successful enforcement actions this year alone, with most of the tips provided by whistleblowers centered around cryptocurrencies. CFTC Commissioner Christy Goldsmith Romero revealed the numbers in an October 31 statement, saying that whistleblowers—who are eligible to receive up to 30% of the monetary sanctions collected—play “a vital role” in supporting the regu...

    NewsBusiness
    3 min read
    Andrew Asmakov
  • Ethereum wallet MetaMask. Image: Shutterstock

    MetaMask Launches New Security Alerts Feature With Blockaid

    MetaMask is tightening up security for its users. As part of a new tie-up with security firm Blockaid, the self-custody crypto wallet is launching a new feature that issues security alerts. Recently out of stealth, Blockaid is security startup founded by alumni of Israel's Unit 8200 cyber intelligence. Earlier this month, it announced a $33 million funding round, with MetaMask revealed among inaugural customers. Starting today, MetaMask desktop users will be able to take advantage of the new fe...

    NewsBusiness
    3 min read
    Andrew Asmakov
  • VanEck has applied for a Bitcoin ETF. Image: Shutterstock.

    VanEck Amends Spot Bitcoin ETF Application, Signals Unique Seeding Approach

    VanEck made another move in its pursuit of a spot Bitcoin exchange-traded fund (ETF), filing an amended application with the U.S. Securities and Exchange Commission (SEC). One notable aspect of VanEck's amended filing is the revelation that an unnamed seed capital investor acquired Seed Creation Baskets for the VanEck Bitcoin Trust in October. These Seed Creation Baskets consist of 50,000 shares of the proposed ETF, and they were bought using Bitcoin. MarketVector Bitcoin Benchmark Rate, an ind...

    NewsBusiness
    3 min read
    Andrew Asmakov
  • Wally Adeyemo is the deputy secretary of the Treasury. Image: Decrypt/RUSI.

    Crypto ‘Not the Vast Majority’ of Terrorism Funding, Says US Treasury Deputy Secretary

    Cryptocurrencies are still used by terrorist groups like Hamas, however, their use is still limited compared to more traditional alternatives, said U.S. Deputy Treasury Secretary Wally Adeyemo. “The thing that we know about terrorist groups and those who look to move money illicitly, is that they're going to use any new technology to try to do that," said Adeyemo during an event hosted by London’s Royal United Services Institute on Friday. "Today, I would say that the use of crypto is not the va...

    NewsBusiness
    3 min read
    Andrew Asmakov, Mat Di Salvo
  • Image: Secretary-General of the United Nations, António Guterres. Image: Shutterstock.

    AI Must Be 'Harnessed Responsibly' to Curtail Doomsday Scenarios, Says UN Secretary-General

    While unveiling a new 39-member global advisory body to oversee AI governance, UN Secretary-General António Guterres waxed poetic about our emergent robot sidekick. “In our challenging times, AI could power extraordinary progress for humanity,” he said. “From predicting and addressing crises, to rolling out public health services and education services, AI could scale up and amplify the work of governments, civil society, and the United Nations across the board.” According to Guterres, AI has th...

  • New UK Bill Strengthens Authorities Ability to Seize Illicit Crypto

    UK lawmakers green-lit the Economic Crime and Corporate Transparency Bill today, a new piece of legislation aimed at tackling a wide range of criminal activities, including drug trafficking, cybercrime, and terrorism. The bill, which has been under discussion since its September introduction last year and saw several amendments, is also set to strengthen law enforcement's ability to seize and freeze illicit cryptocurrency assets. The legislators expect that by expanding the arsenal of tools avai...

    NewsBusiness
    2 min read
    Andrew Asmakov
  • Ethereum is the second-largest cryptocurrency by market capitalization. Image: Shutterstock.

    More Tokens Than Ever Are Being Staked, Says New Research

    Proof-of-stake (PoS) assets have again taken center stage in the third quarter of 2023, which saw a dramatic surge in staking rates across the top 35 stakable assets. According to the latest “State of Staking” report by Staked at Kraken, the average stake rate—the percentage of tokens from the circulating supply that are being staked in a particular cryptocurrency network—for these assets has hit an all-time high in Q3 2023, spiking to 52.4% from 49.3% in the previous quarter. Staking refers to...

    NewsDeFi
    3 min read
    Andrew Asmakov
  • Bull on coins. Image: Shutterstock

    The Biggest Winners of This Week's Crypto Rally? MINA, Chainlink, and PEPE

    The crypto market is no stranger to volatility, and this week has been no exception. While Bitcoin stole the spotlight, fueled by the recent excitement surrounding the possible introduction of spot ETFs, several altcoins have also made significant moves Among them is MINA, the native token of the Mina Protocol, which saw an impressive surge of nearly 120% in just one day, propelling it to a price of $0.92 on Tuesday, a price not seen since March. The token has, however, cooled since the latest s...

    NewsMarkets
    3 min read
    Andrew Asmakov
  • Image: Shutterstock

    Bitcoin, Ethereum Soar Double Digits as Crypto Markets Add $100 Billion

    It's all eyes on Bitcoin (BTC) as the industry’s largest cryptocurrency is up 12.6% over the day, trading above the $34,000 mark. The largest cryptocurrency by market cap surged above $35,000 late on Monday before backtracking to $34,540 at the time of writing, data from CoinGecko shows. This is the highest value for Bitcoin since May last year, with the move resulting in a total of over $310 million in liquidated short positions in the past 24 hours, per CoinGlass. Interestingly, the BTC Fear...

    NewsMarkets
    3 min read
    Andrew Asmakov
  • Values of privacy and transparent markets often go head-to-head in crypto. Image: Shutterstock.

    Andreessen Horowitz-Backed Nym Launches $300M Privacy-Centric 'Innovation Fund'

    Nym Technologies, a privacy-focused infrastructure provider, today launched its Innovation Fund program aimed at offering financial support for Web3 creators, developers, communities, and privacy proponents across all stages of project development. The initiative, first teased in May 2022, is backed by Nym Technologies’ venture capital investors such as Polychain Capital, Greenfield, Huobi Incubator, Eden Block, HashKey Capital, Figment, Fenbushi Capital, OKX Blockdream Ventures, KR1, and Lemnis...

    NewsBusiness
    5 min read
    Andrew Asmakov
  • ARK focuses on investments in disruptive innovation. Image: Shutterstock.

    Cathie Wood's Ark Invest Sells $5.8M in Coinbase, Grayscale Bitcoin Trust Shares as Crypto Market Surges

    Long-time Bitcoin bull Cathie Wood moved to offload almost $5.8 million in Coinbase and Grayscale Bitcoin Trust (GBTC) shares on Monday, as the leading cryptocurrency surged by over 10%. Ark Invest’s latest trade information newsletter revealed the sale of 42,613 COIN shares through ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF, worth $3.29 million with the closing price of $77.21 on Monday evening. Additionally, the firm sold 100,739 Grayscale Bitcoin Trust (GBTC) share...

    NewsMarkets
    3 min read
    Andrew Asmakov
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