Cryptocurrency exchange Coinbase has disclosed its first net loss as a public company of $430 million in Q1, but CEO Brian Armstrong said on an earnings call that he’s “never been more bullish on where we are as a company.” In its first-quarter 2022 report, Coinbase disclosed that revenue had dropped 27% to $1.17 billion, down from $1.6 billion in the first quarter of 2021 and a long way off its Q4 2021 revenue of $2.5 billion. Monthly transacting users also dropped by over 19% to 9.2 million, from last quarter’s 11.4 million. Shares of Coinbase had already fallen by …

Reflecting the growing interest in the nonfungible token (NFT) space among today’s investors, new research predicts that the existing $3 billion market size will reach $13.6 billion by the end of 2027. For the next five years, the key factors tied to the global NFT boom continue to factor in the growing involvement of mainstream influencers, gaming communities and the rising demand for digital artworks. Interestingly enough, research firm MarketsandMarkets envisions several other factors that will contribute to the explosive growth of the NFT market, including its increasing use cases in supply chain management, retail and fashion. Some of the …

Collectors of nonfungible tokens (NFTs) have already sent more than $37 billion in value to NFT marketplaces this year as of Sunday, a figure that nearly exceeds the total amount in all of 2021. According to a report from Chainalysis, investors sent $40 billion worth of cryptocurrency to smart contracts associated with NFT collections and marketplaces throughout 2021. Since the beginning of last year, NFT transaction volume has grown considerably, but the overall growth of the industry has been inconsistent. The report outlines that NFT transaction volume occurs sporadically and has been in a downturn since mid-February. The NFT market …

Europe’s Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) watchdog, MONEYVAL, has listed monitoring the crypto sector along with “gatekeeper” professionals, such as lawyers and accountants, as priorities in European nations' push to combat money laundering. In a media release based on the findings of its annual report, MONEYVAL called upon European jurisdictions to assess compliance with international standards and implement stricter regulatory policies to combat money laundering facilitated by crypto assets. Elżbieta Frankow-Jaśkiewicz, chief of MONEVYAL, cited the Pandora Papers as an example of how professionals serving as "gatekeepers" could aid the rich and corrupt to launder their …

Blockchain games are set to overtake decentralized finance (DeFi) as the number one contributor to decentralized application (DApp) activity in terms of uniquely active wallets. A new 18-page report by DappRadar surveys the nascent ecosystem behind this rise. Although still dwarfed by the traditional gaming industry, blockchain games, sometimes dubbed GameFi, have seen an early spurt of exponential growth, according to the report’s data. “The evolution of blockchain games” report, which discusses play-to-earn (P2E) as a new paradigm for gaming, is available on the Cointelegraph Report Terminal to purchase. It details how the play-to-earn model gained traction in the COVID-19 …

A quantitative analytics report published by DappRadar has unveiled a number of revelatory behavioral market indicators for the global adoption of digital assets. The blockchain data portrays a positive sentiment for the Web3 and metaverse sectors, especially in the United States; a reactionary rise in crypto interest throughout Ukraine and Russia following the outbreak of the conflict and the impact of the well-documented surge i gas prices throughout Europe on inflationary metrics. Bar chart statistics reported a high correlation between the unfavorable economic dynamics witnessed in times of currency deflation and the interest in engaging with cryptocurrencies, with the data …

As Singapore continues to play an active role in boosting crypto adoption across the Asia-Pacific region, the country’s first licensed crypto exchange Independent Reserve conducted a retail-focused survey to better understand the underlying potential of the regulated market. Independent Reserve’s survey — conducted across all age groups and genders of the Singapore population — revealed a strong affinity for various financial opportunities brought forward by decentralized finance (DeFi) and other investment opportunities. As explained by Raks Sondhi, managing director of Independent Reserve Singapore, the country’s rapid crypto adoption is driven by high level of trust and confidence in the future …

Although nonfungible tokens (NFTs) have been a part of the cryptocurrency market since 2014, interest and adoption has risen rapidly over the last two years. At their height in August 2021, the total trading volume of NFTs rose to over $5 billion, kickstarting what briefly came to be to known as “NFT Summer.” According to a report by CoinGecko, the NFT market is now expected to move more than $800 billion in the coming two years. The report, which mostly utilized investors from Asia and the Pacific, highlighted that of 871 respondents, around 72% of them already own at least …

A new study has revealed staggering growth in crypto adoption across Nigeria, fueled by limited access to affordable fiat-based financial services in Africa. Crypto exchange KuCoin’s “Into the Cryptoverse Report” highlights that many Nigerian citizens have started using cryptocurrencies as a viable alternative to store and transfer assets. According to the report, 35% of the Nigerian population aged 18 to 60 — or 33.4 million people — have owned or traded cryptocurrencies during the last six months. Out of those people, nearly 17.36 million (or 52% of Nigerian crypto investors) have allocated over half of their assets to cryptocurrencies. One …

The top centralized cryptocurrency exchanges have reached all-time highs for market share this year as trading volume in crypto consolidates onto the platforms of only a few trusted companies. So named “top-tier” crypto exchanges have increased their market share from 89% in August 2021 to 96% in February 2022 according to data collected by UK analytics company CryptoCompare published on Monday, April 11. The firm analyzed over 150 active centralized exchanges, ranking them on security, number of assets available, regulatory compliance, KYC checks, and more, grading them from a top score of AA to a low of F with “top …

On Tuesday, blockchain data analytics platform Nansen released its quarterly report on the state of nonfungible tokens, or NFTs. The report highlighted the rapid growth of the NFT market over that of the cryptocurrency market year-to-date, and it predicts of an $80 million market cap by 2025. As Cointelegraph previously reported, Nansen recently released six NFT indexes weighted by market capitalization denominated in Ether (ETH): Nansen NFT-500, Nansen Blue Chip-10, Nansen Social-100, Nansen Gaming-50, Nansen Art-20 and Nansen Metaverse-20. According to the Nansen 2022 Quarterly NFT Report, The NFT market continues outperforming the cryptocurrency market year-to-date, putting in a 103.7% …

The Royal Melbourne Institute of Technology’s (RMIT) Blockchain Innovation Hub has released a report proposing the implementation of pilot Decentralized Autonomous Organization (DAO), to assist specific precincts in Melbourne’s CBD in recovering from the impacts of the pandemic. The report, which is part of a five-piece series of reports funded by the Victorian Government, details how blockchain technology — specifically DAOs — can be used to help cities like Melbourne recover from a lack of economic activity during the pandemic and to survive into the future with the likely persistence of hybrid working arrangements. Created in consultation with the City …