Coinbase CEO trusts Congress to create clear rules for crypto firms but lacks faith in the SEC During a Q1 earnings call, Coinbase CEO Brian Armstrong reassured investors that the cryptocurrency exchange has no intentions of moving its operations out of the United States. Coinbase’s CEO, Brian Armstrong, stated during an investor call on May…
A proposed bill in Kenya has sparked mixed reactions online, as it suggests adding taxes to cryptocurrency and NFT transfers A recently proposed bill in Kenya suggests the introduction of a tax of 3% on cryptocurrency and non-fungible token transfers, as well as a 15% tax on online content that generates revenue. The Finance Bill…
Israeli officials have claimed that they took control of 190 accounts on the cryptocurrency platform Binance. They believe that these accounts belonged to people who are connected with terrorist groups like Daesh and Hamas. According to a report by Reuters on Thursday, Israeli officials have taken control of around 190 accounts on Binance that they…
Cloudverse is a platform created by Alibaba Cloud that allows companies to create and maintain their own customized metaverse spaces. Alibaba’s cloud computing division has created a platform for companies to create their own metaverse spaces on the Avalanche blockchain. Cloudverse is a platform developed by Alibaba Cloud, which allows businesses to build and manage…
Florida Governor Ron DeSantis accuses individuals of wanting to eliminate cryptocurrency. This week, DeSantis announced that a bill to prohibit the use of central bank digital currencies is moving forward in Florida. Florida Governor Ron DeSantis announced that his state would take action against any central bank digital currency, with legislation being advanced that could…
SEC Scraps Proposed “Digital Assets” Definition from Final Form PF Rules SEC to consider the term “digital assets” following its removal from Form PF rules In the final hedge fund reporting rules document, the US Securities and Exchange Commission (SEC) removed its proposed definition of “digital assets” from the Form PF Glossary of Terms. The…
Binance has announced the launch of perpetual contracts with leverage of up to 50X. SUI’s price dropped significantly following the launch of its mainnet. Other crypto exchanges are starting to adopt SUI, the native token of the Layer 1 blockchain Sui Network, as the network grows. SUI – PERP Futures listed on WOO X cryptocurrency…
After its launch, Sui token’s value dropped by about 70%. Currently, it has fallen 36.1% in the last 24 hours. Some people are worried about the number of SUI tokens that market makers have. They think that market makers were behind the large sale of SUI tokens after the launch. Bought some $Sui at $1,27…
ZkLink provides a decentralized trading infrastructure that utilizes zero-knowledge rollup and facilitates easy cross-chain trading. Chatbots are AI-powered computer programs that can have conversations with users, providing fast and efficient support. In banking, chatbots have the potential to transform how customers communicate with their banks. There are 7 different ways that chatbots can potentially be…
The mainnet of the Camino Network, a web3 travel ecosystem, has been launched, as announced by Chain4Travel, a Swiss company building a blockchain-based system for the travel sector and backed by prominent market players. Camino Network is a Web3 blockchain designed for the travel industry, where anyone can build decentralized apps using smart contracts. The…
Bitcoin and Ethereum prices surged after the European Central Bank (ECB) increased interest rates, as expected The European Central Bank (ECB) has increased its key interest rates by 25 bps, indicating a slower tightening of policies. The crypto market reacted positively to this news as Bitcoin and Ethereum prices increased. The inflation rate in the…
Bitget, a platform that allows trading in derivatives, has started a new project called Blockchain4Youth to assist young talent. Bitget, a platform for trading financial derivatives, has started a new initiative called Blockchain4Youth to help support young talent. They are doing this as part of their corporate social responsibility and will dedicate up to $10…
FLUUS, a company that facilitates cryptocurrency payments, plans to launch a presale of its $FLUUS token on the FantomStarter Launchpad. The presale will offer a discounted price to investors who buy from May 2 to May 23, with the option to whitelist until May 17. After May 24, the $FLUUS token will be available for…
Alluvial’s Chief Product Officer, Matt Leisinger, talks about how liquid staking affects the world of cryptocurrency in an interview with Cointelegraph. Elisha Owusu Akyaw interviews Matt Leisinger, the Chief Product Officer at Alluvial, a software development company. They talk about crypto staking and how it can attract institutional investors. Leisinger also discusses the Liquid Collective…
Starting from May 10th, customers will not be able to take out any new loans through Coinbase Borrow. The days of Coinbase Borrow are coming to an end. Coinbase users who used the service called Coinbase Borrow received an email on Wednesday saying that they will no longer be able to take out new loans…
Bloomberg reports that PacWest Bancorp, which is based in California, is considering different strategic choices. Image source “CoinDesk” The banking crisis doesn’t seem to be ending soon. PacWest Bancorp’s stocks dropped by over 50% during after-hours trading on Wednesday, following a Bloomberg report. The report said that the bank, which is based in the US,…
On May 25th, a hearing will take place to address FTX’s request. A cryptocurrency exchange called FTX, which doesn’t have enough money to pay its debts, is asking another bankrupt company called Genesis Global Capital to give back nearly $4 billion that it owes. FTX made this request in a court document on Wednesday. Before…
The Federal Reserve increased the federal funds rate by a small amount (25 basis points) on Wednesday. This means the rate is now between 5% and 5.25%. This is the first time the rate has been this high since 2007. The increase of 25 basis points in the federal funds rate was not a…
The advocacy group has decided to redirect its attention towards lobbying regulators and officials in Washington, D.C. The Blockchain Association, an advocacy group for the crypto industry, is leaving New York as it prepares to challenge the stricter regulations imposed by federal regulators on the cryptocurrency industry. According to a spokesperson, the CEO of the…
Despite OpenSea processing a higher number of daily NFT trades, Blur, the newcomer, maintains a significant lead in terms of trading volume OpenSea is once again the platform responsible for more than half of all Ethereum NFT trades. However, despite this achievement, they still have a long way to go to match the total volume…
The White House is proposing to add a 30% tax to the cost of the electricity used for mining cryptocurrencies. The tax plan will be introduced slowly over the course of three years. The Biden Administration has proposed a 30% tax on electricity used for cryptocurrency mining as part of its budget plan for 2024….
The FBI has taken control of nine crypto exchanges that were reportedly involved in money laundering associated with ransomware payments The FBI has seized control of nine cryptocurrency exchanges, including 24xbtc.com, 100btc.pro, pridechange.com, 101crypta.com, uxbtc.com, trust-exchange.org, bitcoin24.exchange, paybtc.pro, and owl.gold, which were allegedly involved in money laundering associated with ransomware payments. These crypto exchanges were…
Bitfinex will start trading FLOKI on May 5. Currently, FLOKI’s trading volume has increased by 72% in the last 24 hours. Bitfinex, the fifth largest crypto exchange by trading volume, has officially announced the listing of FLOKI, which is currently the third largest memecoin by market capitalization. Say hello to a new member of the…
Nansen’s latest monthly report shows that BNB Chain continues to be the most active blockchain in terms of user activity. Blockchain research firm Nansen reported that the BNB Chain had 10.9 million active wallet addresses in April. Nansen’s data revealed that while BNB Chain had the most active network users in April, its user count…
A short squeeze happens when traders who bet against a stock or asset (known as short selling) start buying back to cover their losses, causing the price to rise rapidly. Bitcoin (BTC) and ether (ETH), which are the two most valuable cryptocurrencies, have risen in value by 70% and 56% respectively this year. This increase…
Last week, SUI tokens were made available to users of several cryptocurrency exchanges in a presale. When trading began at 12 noon UTC on Wednesday, the value of SUI Network tokens quickly rose to $2 per token, according to data. As of now, the total value of the tokens is almost $690 million, and their…
A new blockchain network, which had received a lot of funding from venture capitalists, recently launched its main network. However, during the launch, it had some difficulties with processing transactions quickly and being fully decentralized, despite being positioned as a competitor to the established Aptos network. A new blockchain called Sui, which is valued at…
A trader reportedly experienced a 50% slippage when exiting their Pepecoin position Pepe token (PEPE), which is a new memecoin, has gained more trading volume than dogecoin (DOGE) and shiba inu (SHIB), the two biggest memecoins by trading volume. This is due to intense trading activity. In the past 24 hours, Pepe’s trading volumes increased…
Crypto experts say investors are moving away from big exchanges like Binance and Coinbase and instead staking their ETH on decentralized options due to regulatory worries and the potential for bigger rewards. Blockchain data indicates that since the Shanghai upgrade of Ethereum, centralized crypto exchange giants Binance and Coinbase have experienced large outflows of staked…
The Biden government wants to introduce a new tax that was suggested in a budget proposal. They want people who create cryptocurrency to pay 30% of the money they spend on energy. The White House’s Council of Economic Advisers (CEA) stated in an online post on Tuesday that U.S. President Joe Biden wants to introduce…
When there were fewer job opportunities available, the value of the two biggest cryptocurrencies in terms of money went up. On Tuesday, there was a report that showed there were not many job vacancies available, and as a result, the values of Bitcoin and Ether, which are two of the biggest cryptocurrencies, went up by…
Sports Illustrated, a U.S. sports magazine, has joined forces with ConsenSys, a software company that uses Ethereum, to create a ticketing marketplace called “Box Office”. They have now introduced a new way to buy tickets using non-fungible tokens (NFTs) on the Polygon network, which is a tool that helps Ethereum work better. Sports Illustrated’s ticketing…
The UK’s tax authority is asking people for their opinions on proposed new rules, which are designed to make it easier for people who use cryptocurrencies to pay their taxes. UK tax advisors have praised new proposed rules that would reduce the tax burden on crypto users who engage in decentralized finance (DeFi) lending and…
Revolut, a digital bank that allows crypto investments, has entered the Latin American market by launching its services in Brazil. This move aims to cater to the increasing demand for cryptocurrency assets in the country. Revolut already offers crypto investment options to its European clients. Revolut, a digital bank that offers crypto investments across Europe,…
The founders of 3AC’s OPNX Exchange, Kyle Davies, Su Zhu, and others, have been formally reprimanded by Dubai’s Virtual Assets Regulatory Authority for running an unregulated exchange, following two cease-and-desist letters. Dubai’s cryptocurrency regulator has issued a formal notice to OPNX, a bankruptcy claims exchange created by the founders of the failed hedge fund Three…
ByBit, a cryptocurrency exchange based in Dubai, has launched a service where users can lend out their cryptocurrencies for interest. This puts ByBit in the same group as other major exchanges that already offer similar services. ByBit has launched a new cryptocurrency lending service for its users, following in the footsteps of several other major…
Even though Coinbase’s shares have fallen because of its legal issues with the SEC, Cathie Wood still thinks the crypto exchange will do well. ARK Invest, a company started by famous investor Cathie Wood, bought shares of Coinbase, a company that lets people trade cryptocurrencies, on International Workers’ Day. On May 1st, ARK Invest bought…
According to a company that analyzes blockchain data, more than 50 people have over $1 million worth of PEPE. The Pepe meme coin, which is based on the Ethereum platform, has been doing really well in the digital currency market lately. This has caused some people to make a lot of money and become millionaires….
“This Morning’s Alert: 500 Million XRP Tokens Worth $235 Million USD Released from Unknown Wallet’s Escrow” XRP Drops 4.05% in 24 Hours to $0.4614 Following Release of 500 Million Tokens. It’s Important to Note that Ripple Labs Regularly Releases Escrow Funds as Part of Monthly Allocation, Even if Wallets are Marked Unknown. 500 Million XRP…
The BRC-20 and ERC-20 standards may sound similar, but they are not the same. The BRC-20 does not have the capability to communicate with smart contracts, while the ERC-20 can. The demand for “Bitcoin Request for Comment” or BRC-20 tokens has increased dramatically, causing their market value to rise by several hundred percent. These tokens…
Legal documents filed in court are calling for a solution to a problem that could be important for customers and investors of Celsius, a cryptocurrency lending platform. Crypto lending platform Celsius wants to merge its U.K. and U.S. entities. However, court filings claim that the difference between the two companies was not real, and merging…
MicroStrategy has published its revenue report for the first quarter. MicroStrategy is still dedicated to Bitcoin. MicroStrategy, a data analytics company, released its financial report for the first quarter of 2023. The report showed a net income of $461.2 million, or $31.79 per share, in comparison to a net loss of $130.8 million for the…
A group of people are trying to sue Coinbase together because they believe the company broke the rules on privacy in Illinois. They say that Coinbase took their fingerprints and facial scans and kept them without their permission. A lawsuit that many people want to join says that Coinbase broke the law in Illinois when…
The boss of IBM, Arvind Krishna, has stated that in the next five years, about 30% of their jobs that don’t involve directly interacting with customers could be replaced by artificial intelligence. IBM plans to temporarily stop hiring people for “back-office” jobs that could be done by artificial intelligence (AI) instead. During an interview with…
In a recent interview, Coinjar CEO and co-founder Asher Tan said, “While other exchanges are concerned about regulation, we see it as an opportunity.” The CEO of Australian cryptocurrency exchange, Coinjar, is not worried about the risks associated with regulations as the exchange plans to expand its presence in the United States. Coinjar CEO and…
Dr. Geoffrey Hinton has spent his entire life working on artificial intelligence, but he’s now raising concerns about how dangerous this technology could be. A pioneer in the field of Artificial Intelligence (AI), who is known as the “Godfather of AI,” has resigned from his job at the large technology company Google. He wants to…
Meta, formerly known as Facebook, has asked the United States Securities and Exchange Commission (SEC) for permission to sell new debt securities in the future. The company submitted a prospectus on May 1, saying it may sell these securities in one or more series. This allows Meta to register a new issue of securities without…
The EU will not completely ban high-risk AI tools, but they will have to follow stricter transparency rules. The European Union has drafted a new bill to regulate artificial intelligence technology. The bill does not completely ban high-risk AI tools, but they will have to follow stricter transparency rules. Generative AI tools, like ChatGPT and…
According to claims, Poloniex didn’t follow the rules of checking and verifying their customers’ identities correctly from 2014 to 2019. Poloniex LLC, a US company that was once related to Poloniex cryptocurrency exchange, has agreed to pay $7.59 million to settle allegations of breaking sanctions rules made by the US Treasury Department’s Office of Foreign…
Sotheby’s Metaverse has made a new online marketplace that lets people buy and sell art to each other using the Ethereum and Polygon networks. They choose the art that is sold on the marketplace. Image Source: Coindesk Sotheby’s is making a new online marketplace where people can buy and sell special art pieces that are…