Lawyers representing FTX’s creditors said they weren’t filled in on a recently proposed plan to revive the company’s international exchange, according to a Monday night filing. Creditors claimed that the proposed restructuring plan is a mere “idea” with no formal talks having taken place to actually put it into action. No Contact With Creditors? The...Read More
The Chief Executive Officer of Binance – Changpeng Zhao (CZ) – said one reason why his company recently introduced the stablecoin FDUSD is the terminated partnership with Paxos. While the two entities teamed up in 2019 to launch the USD-denominated BUSD, the New York state regulators told Paxos to stop minting new tokens earlier this...Read More
The Internal Revenue Service (IRS) has ruled that U.S. cryptocurrency investors must include staking rewards in their gross income since crypto assets are treated as property for federal income tax purposes. According to an official document, taxpayers must include the fair market value of their staking rewards in their gross income as soon as they...Read More
A phishing scammer recently nabbed $20 million in USDT from an unsuspecting victim using a zero transfer phishing attack, reported blockchain security firm PeckShield on Tuesday. The stolen funds were frozen in short order by Tether – the issuer behind USDT – raising questions about who the victim was given the speed of their response....Read More
Now less than 1000 blocks remain until the halving, as the event is about to occur in less than a day. The price was closer to breaching the falling wedge after remaining within the consolidation for over 27 days. However, the token’s volatility has risen significantly and has been trading within large ranges. Hence, the...Read More
It may not seem like it today, with crypto markets tanking, but DeFi assets have been steadily recovering over the past month, according to Glassnode. On July 31, on-chain analytics platform Glassnode published a report on the state of DeFi tokens amid this year’s regulatory issues. “Regulatory conditions in 2023 have been a tug-of-war between...Read More
Ken’s job in the Barbie movie might literally be Bitcoin. Influencers across the crypto sphere went wild for Robbie’s remarks last week. During a recent interview, the Australian actress (Wolf of Wall Street, Suicide Squad) said Bitcoin talk is “Big Ken Energy.” Ken, of course, is Barbie’s boyfriend. The Ken doll first debuted in 1961,...Read More
Ron DeSantis – Governor of Florida and one of the Republicans’ presidential nominees – stated that the “war on Bitcoin and cryptocurrency” that Biden’s administration has supposedly waged will cease should he become the next political leader of the United States. He also reiterated his hostile stance toward central bank digital currencies, saying such a...Read More
[PRESS RELEASE – San Francisco, California, August 1st, 2023] Addressing a $5 trillion global credit gap in emerging markets, Jia, which connects capital to small businesses in every corner of the world, scales up its credit solution on Huma, which builds infrastructure for real-world lending. Two months after launching its credit solution on the Huma...Read More
Justin Sun, the founder of the Tron blockchain, has purchased five million Curve tokens (CRV) from an address labeled “Curve.fi Founder” in an attempt to help with the decentralized exchange Curve Finance’s bad debt situation. As disclosed by blockchain analytics platform Lookonchain, Sun bought the tokens at an average price of $0.4 via an over-the-counter...Read More
Disgraced crypto exchange FTX is looking to reboot its operations nearly nine months after sliding into bankruptcy. According to a draft plan filed on July 31st, FTX put forth a plan to categorize its creditors into distinct classes of claimants and offered a potential route for one of these classes to revive the now-defunct exchange...Read More
One of the most high-profile cases of total collapse in the crypto industry ever, Terraform Labs’ sudden implosion last year, left government regulators in both South Korea and the USA scrambling to sort out the mess. While Korean authorities continue to probe into the dealings of TFL’s former C-suite and those of the exchange they...Read More
Maintaining a declining trend in the daily chart, DOT Coin price forms a descending triangle pattern. After struggling to exceed the $7.55 resistance level, DOT prices currently trade at a 33% discount from the previous swing high. Moreover, the price action forms a consolidation phase between $5 and $5.53 Over the past month and traps...Read More
The US Securities and Exchange Commission (SEC) has sued the controversial crypto entrepreneur Richard Schueler, popularly known within the crypto community as Richard Heart, along with three of his entities, for allegedly engaging in unregistered securities sales and fraudulent activities. Heart purportedly used investors’ money to create a luxury lifestyle for himself, buying expensive items,...Read More
The Federal Financial Supervisory Authority of Germany (better known by its abbreviation BaFin) launched an investigation against the cryptocurrency platform Bitcoin Bank Breaker. The watchdog believes there are several red flags surrounding the firm, suspecting it of functioning without the necessary authorization. BaFin warned German consumers to be extra careful when dealing with the cryptocurrency trading...Read More
