The last couple of months have been quite a rollercoaster for DeFi and CeFi aficionados. Between events like the continuing Celsius Network saga or the can of worms opened by Three Arrows Capital finding itself in hot water, it’s not at all surprising that similar platforms would come under regulatory scrutiny. However, the approach taken...Read More
Miners in the country will now have to pay increased tax rates tied to the electricity prices consumed by these entities. Increased Tax Burden for Crypto Miners Consistent with the rapid advances toward regulating activities related to mining Bitcoin and other crypto-assets, the President of Kazakhstan – Kassym-Jomart Tokayev – has signed a new bill...Read More
A recently released KuCoin report found surging interest and adoption of cryptocurrencies within Saudi Arabia. It found that 76% of crypto investors in the region had under a year’s experience trading crypto, while 49% had less than 6 months of experience. Per the results gleaned by KuCoin in May, there were about 3 million Saudi...Read More
The prolonged crypto winter has implanted an extreme fear in almost every tool that indicates the sentiments of markets. Nevertheless, though the uncertainty is hovering around the crypto space, a few of the market participants are optimistic in terms of the opportunities that can come in. As per Alex Tapscott, Ninepoint Digital Asset Group’s MD,...Read More
ARK Investment Management – a company spearheaded by fund manager Cathie Wood – will reportedly have to wait longer than expected to hear the US SEC’s decision on whether it can launch a spot Bitcoin Exchange Traded Fund (ETF). In May this year, the firm once again displayed its ambitions to introduce a product that...Read More
Cryptocurrency exchange Binance has announced completing the 20th quarterly burn of its native token, BNB. According to the official blog post, nearly 1.96M BNB (around $444.6 million) was burned in the process, marking its third quarterly burn through the relatively new “auto-burn” feature. The previous BNB burns reflected the tokens’ usage and revenue generated in...Read More
Another US state just launched an investigation into the firm. The US state of Vermont’s Department of Financial Regulation (DFR) has leveled serious allegations against the troubled crypto lender. Vermont Watchdog’s Statement on Celsius In a recent statement, the DFR said it believes Celsius is “deeply insolvent” and the firm does not have the assets...Read More
The number of liquidated traders and the value of liquidations skyrocketed to over $200 million on a daily scale as BTC, and the entire crypto market experienced enhanced volatility following the record-breaking US inflation data. The past several days didn’t go all that well for the primary cryptocurrency, which lost the coveted $20,000 mark yesterday...Read More
In the ongoing US Securities Exchange Commission (SEC) vs. Ripple Labs case, Magistrate Judge Sarah Netburn, on July 12, dismissed the agency’s appeal for the protection of William Hinman’s speech from disclosure. “This argument was previously raised secondarily, with the SEC primarily asserting the deliberative process privilege. The SEC’s motion is DENIED,” she said. The court...Read More
Crypto-focused hedge fund Pantera Capital (PC) published a blockchain letter titled “DeFi Worked Great” on Monday, arguing against a report titled “DeFi Has an Existential Problem” by Wall Street Journal. It stated that DeFi protocols have vastly outperformed CeFi platforms during the market crash due to a high degree of transparency and the practice of...Read More
Ethereum price is currently stumbling to re-enter the bullish pattern but progressively maintaining the lower support just above $1000. With the current pattern formation, sustaining within an ascending trend may be a little difficult at the press time. As the second-largest crypto remains gloomy as the asset is facing a couple of hurdles for nearly...Read More
It comes as no surprise that the central bank wants to curtail crypto as much as it possibly can, advising EU lawmakers with a recent research paper. On July 12, crypto venture advisor at Presight Capital, Patrick Hansen, broke down the report, which focused primarily on what the ECB considers financial risks. It acknowledged that...Read More
Social media giant Twitter has filed a lawsuit against Tesla and SpaceX CEO Elon Musk, seeking to force the billionaire to close the acquisition deal as agreed by both parties. According to court documents, the complaint filed in the Delaware Court of the Chancery on Tuesday (July 12, 2022) alleges that Musk violated the terms...Read More
Cryptocurrency exchange OKX has extended its partnership with current Premier League champions Manchester City F.C., with a new deal making the firm the English club’s official training kit partner. OKX Becomes Man City’s Training Kit Partner According to a press release, OKX will be the new training kit partner for Manchester City’s men’s and women’s...Read More
