Thai telecommunication systems provider Jasmine Technology Solution saw its stock rally nearly 7,000% year-to-date (YTD), triggered by an announcement it made in July that it would expand into bitcoin mining. Bloomberg reported that the stock has more than tripled since the announcement, although the cryptocurrency project has yet to generate significant earnings for the company.
Cryptocurrencies’ traceability will be crucial to fighting crime — this is one of blockchain data platform Chainalysis’s top trends for cryptocurrencies in 2022. Gurvais Grigg, the platform’s global public sector chief technology officer says if global adoption of cryptocurrency continues to evolve, cryptocurrency will soon be recognised as an invaluable tool, and not a hindrance to topple criminals.
“One of the biggest misconceptions about cryptocurrency is that it’s anonymous and untraceable. In fact, it operates on public, immutable blockchain ledgers, making it more transparent than most other forms of value transfer. This, coupled with the rapidly changing financial landscape for law enforcement and businesses and the development of digital tracking capabilities, means cryptocurrency is fast becoming a critical tool in the fight against crime,” says Grigg.