On Tuesday, the BaFin (Federal Ministry of Finance) issued a 24-page publication that outlined the transparent tax principles for virtual assets as well as for cryptocurrencies. Individual taxpayers, businesses, and tax practitioners at present have a straightforward way regarding the tax requirements dealing with selling, trading, as well as obtaining cryptocurrencies. The chief important factor…
XP reported that in the second quarter of this year, XTAGE will be launched with complete integration with the ecosystem of XP Inc (the biggest investment brokerage across Brazil having up to 3.5M consumers as well as $168B worth of assets under custody). XP mentioned that at first, the exchange will offer the sale as…
Jerome Powell’s nomination for being the chairman of the Federal Reserve System’s board of governors has been sanctioned on the behalf of the Senate of the United States until 2026. On Thursday, voting occurred in the Senate with 80-19 being the results pointing toward the endorsement by U.S.-based policymakers regarding the chairmanship of Jerome Powell…
Cosmos (ATOM) bears joined the space to ensure consistent pressure since the alt touched its ATH on January 7. Gradual downside moves beneath the multi-month trend-line resistance gave sellers the needed momentum to trigger trend-shifting reversals. For now, ATOM hovers at a tricky level. The 23.6% FIB resistance might reshape the short-term trend trajectory. While…
Terra’s recent collapse forced it to eliminate several applications. For instance, the blockchains hat to remove Anchor, which was the chain’s leading DeFi network at some point. Meanwhile, the protocol is worth pretty nothing for now. As these protocols proved valuable use cases, different chains, including Polygon, are chasing the platforms like vultures. Polygon Eyes…
On Monday, Terraform Labs CEO, Do Kwon, requested (via Twitter) that developers willing to support and commit to the development of the forked terra chain should indicate interest. 8/ We believe this token distribution, in addition to best efforts by LFG to make $UST holders whole, best solves for the varying interests and time preferences…
Despite the general downturn in the broader crypto market, blockchain startups are still receiving funding from venture capitalists. A CB Insights report released on Wednesday revealed that VCs injected a combined $9.2B into blockchain and crypto startups in the first quarter of this year alone. Surprisingly, VC investments in blockchain and crypto startups have kept…
A new filing with the SEC by Sam Bankman-Fried shows that the FTX CEO has invested nearly $549M in the shares of the popular trading platform, Robinhood. His investment makes his average cost per share acquisition to be $11.53 and makes him hold 7.6% of the platform’s shares. Bankman-Fried bought the shares under his privately-owned…
XRP price paints a bullish picture today. XRP/USD has resistance around $0.5. Overnight sessions saw bullish momentum. Ripple price outlook shows XRP kick-started new upswings after discovering support at $0.4550. For now, the altcoin trades well beyond the resistance of $0.4850 and 100 SMA. Also, XRP/USD 1hr chart shows a break past a massive bearish…
KuCoin, a worldwide crypto exchange, targets to move beyond the services dealing with centralized trading and be directed toward Web3 with the latest funding supported by companies including Circle Ventures. On 10th May, the funding round was conducted by KuCoin, taking the valuation of the firm to $10B. The respective funding round chiefly focuses to…
The CBN (Central Bank of Nigeria) is stepping further with its strategy for making advancements into its CBDC (central bank digital currency) to be utilized for a vast series of services and products. It is additionally sustaining its strict crypto limitations due to which the fintech sector of the country is being crippled. Bariboloka Koyor,…
While the crypto community is even now struggling to decipher the pegging-de-pegging fiasco of Terra concerning the stablecoin offering UST (TerraUSD) thereof, Binance (a prominent crypto exchange) terminated the withdrawals for UST and LUNA (Terra) on Tuesday. Recently, the market value of the stablecoin offering of Terra (UST) plummeted to lower than the anticipated price…
The latest Coinmarketcap data shows that DEUS finance’s stablecoin, the DEI, has lost its dollar peg. After losing its dollar peg and dipping to a new low of $0.55 during the Monday morning session, the price of the algorithmic stablecoin has made some slight gains and currently trades at $0.66 following. While DEUS finance’s stablecoin…
The broad market and Bitcoin see early pressure with increased regulatory scrutiny threatening market players’ appetite following roller-coaster events over the past week. Sunday sessions saw BTC on a 3rd successive day of gains, ending the week with an 8% loss. Bitcoin witnessed a 7th sequential week of red. While the space recovered from the…
Despite the TerraUSD crash, the platform’s DAO (the LFG) still needs to answer a few questions on some discrepancies regarding Terra’s BTC reserves. Before the UST lost its UST peg earlier in the week and created commotion across the market, the LFG held 70,737 worth of BTC (valued at nearly $2.1B) as reserves for its…
Santiment’s data indicated a dramatic surge in Ethereum transaction volumes within the past 48 hours. Furthermore, the ETH network saw address experiencing losses reaching a new all-time high, a bearish move for the alt. Do these massive losses imply an impending relief rally or more pain for market players? News shows the ETH Merge will…
Instagram has a strategy to incorporate NFTs (non-fungible tokens) from prominent venues like Solana, Flow, Ethereum, and Polygon, according to the reports. The social media forum is expected to declare a pilot project by the coming Monday. As per the report, the focus of the venue will be on a specific team of NFT supporters…
With its efforts to provide a much better intelligence system, the Coinbase Crypto exchange moves towards introducing new solutions to handle risks more effectively. Popular crypto exchange, Coinbase very recently revealed a brand-new collection of tools and solutions named as “Coinbase Intelligence” to facilitate all kinds of businesses, financial firms, Law makers and individuals who…
People from the three prominent cities of China have started recompensing for social security, stamp duty, as well as taxes with the utilization of the CBDC (central bank digital currency) of the country, the e-CNY (digital yuan). As per a native new report, several government organizations across Zhejiang province (situated in Shanghai’s south) are at…
The crypto market has been on a freefall over the past seven days, with the leading digital asset dipping to a 16-month low. Even though BTC has recovered and made some gains, it is still nowhere near its peak price, which it attained last November. However, Cardano founder, Charles Hoskinson, has shared his insights regarding…