Last week, the FTX crypto exchange filed for bankruptcy and this week has been all about the fallout of its collapse. Genesis Global Trading is the latest in the series of companies to have announced that its lending arm is pausing withdrawals and new loan originations. The announcement from the crypto investment bank was made … Read more
The downfall of the FTX crypto exchange has fueled concerns about market contagion and this prompted the boss of Crypto.com to take to YouTube to reassure users. On Monday, Kris Marszalek, the chief executive of Crypto.com, informed the users of his exchange that their balance sheet was quite robust and they were not engaged in … Read more
Binance’s FTX Holding Undergoes Liquidation Changpeng Zhao (CZ), CEO of Binance, made a revelation on Twitter that his company’s FTX (FTT) tokens’ holding is undergoing a liquidation process. According to CZ, his company got $2.1 Billion while departing from FTX equity in 2021. The said money was received by Binance in the shape of FTT … Read more
According to European officials, the European Commission is gearing up to discuss the adoption of a common tax regime with its member states that will apply to crypto assets. The national treasuries will participate in the talks that are expected to begin in the next year and their aim is to put an end to … Read more
Digital Asset Group’s Bitcoin mining company Foundry Digital has announced a Bitcoin mining education drive initiative. The training program has been launched to educate and train Bitcoin miners further so that top-class technicians in Bitcoin mining can be produced with the help of the initiative. The initiative will commence the education program on 7th November … Read more
Binance’s top executive does not seem to be convinced on the aspect that cryptocurrencies’ existence might be in danger because of CBDCs. He said that in fact, the governments would be validating the concept of blockchain on the pretext that they too are using it for CBDC purposes. Binance’s CEO Not Convinced over CBDC Posing … Read more
A fresh legal framework has been proposed by Russian lawmakers which aim at legalizing all sorts of cryptocurrencies in the country. The proposed law also suggests that though crypto can be mined in the country. However, their circulation will be made across the border and also within specific regimes for experimental purposes. Russian Parliament Drafts … Read more
Exactly 3,853 top-of-the-line Bitcoin mining rigs have been bought at an approximate value of $6 Million by Cleanspark from Bitmain. According to Cleanspark, the company had acquired from than 26 thousand rigs since June this year. Massive Acquisition of Bitcoin Mining Rigs About a month ago Cleanspark, which is a Bitcoin mining entity, informed us … Read more
One of the largest digital currency asset managers in the world, Grayscale Investments has shared the results of a survey it recently carried out. National Survey Grayscale Investments announced that it recently carried out a national survey that has provided assurance to the cryptocurrency community. According to the latest national survey, the Republicans and the … Read more
Pick n Pay, a major grocery retail giant in South Africa has recently made an announcement for the customers. The retail giant has announced that it now accepts cryptocurrencies from customers. Pick n Pay Accepts Bitcoin Pick n Pay announced on November 1 that it is now accepting cryptocurrencies from customers for in-store purchases. The … Read more
If it was reported in 2021 that the number of cryptocurrency ATMs has been rising around the world, it would be considered quite normal. However, it comes as a huge surprise if the same claim is made in 2022. This is because, in the year 2021, the cryptocurrency industry was growing enormously big. Almost every … Read more
An up and coming crypto launchpad, Team Finance, faced a severe $14.5 million exploit, which, according to the firm, occurred due to an issue in the migration feature. Team Finance Pauses Activities after Major Exploit In a tweet, Team Finance explained that ever since they spotted the exploit, they’ve stopped all activities. Additionally, the firm … Read more
India is gearing up to take up the presidency of the G20 and Nirmala Sitharaman, the Finance Minister, said that she would love to highlight that the country is moving forward quickly where digital financial technology is concerned. Digital technology The Indian finance minister spoke on November 1st at the Indian Council for Research on … Read more
As the crypto market continues to shrivel from its otherwise gargantuan size just a few months ago, every little loss can hurt the platform as a whole. However, unfortunately for the crypto market, the losses don’t stop coming, and they might not stop coming for some time now. Fiscal policies surrounding various financial markets like … Read more
Following the unceremonious resignation Liz Truss, siting prime minister of the UK, the Conservative Party was quick to find a replacement for her. And the newest candidate for the current seat is none other than Rishi Sunak. Sunak is especially popular for his contributions as the Finance minister under Boris Johnson. During his tenure, Sunak … Read more
The tax authority in Argentina, AFIP, has ramped up its battle against tax evasion in the country via cryptocurrencies. The organization disclosed on October 28th that notifications had been sent to 3,997 taxpayers in the country about the inconsistencies that existed between reports of their crypto holdings and their tax statements. The statements that are … Read more
The crypto market has continued to see some of the most volatile and some of the biggest companies with the most potential fall. And as the rest of the market prepares for some of the worst downfalls that it has experienced in years, some projects might soon be contributing to that downfall. Crypto projects have … Read more
Christy Goldsmith Romero, the Commissioner of the Commodity Futures Trading Commission (CFTC) highlighted the collapse of the Terra ecosystem and its consequences. He cited the collapse as an example of the risks of contagion in the crypto markets is similar to what people part of the traditional finance (TradFi) system had experienced during the global … Read more
A major crypto analyst is predicting that the crypto market could start surging as soon as a single catalyst manages to hit. According to their prediction, a single event will come along and help Bitcoin escape the bullish market. And thanks to the insider’s experience with the rest of the crypto market. The crypto market … Read more
Despite the crypto market going through one of its worst patches in a decade, this has not stopped a lot of the growth that the market continues to see. Many companies continue to work with various traditional markets and MasterCard could soon be offering a range of crypto debit cards. So other than the overall … Read more
