CRYPTO FIRM
Rise of Telegram-friendly chain spurs talk of crypto super app
The Open Network (TON) blockchain has seized the crypto spotlight even amid a broader rally in the sector that saw Bitcoin hit new heights before a recent selloff.
Crypto Price Today: Bitcoin slips below psychological $60,000 mark. Etherium, Solana, others down by up to 9%. Here’s why
Bitcoin plunges below $60,000, causing panic among investors as altcoins follow suit. Mt. Gox repayment, government sell-offs, and a massive whale dump contribute to the market chaos
India-based crypto exchange Coin DCX acquires Dubai's BitOasis
The firms did not disclose the transaction value, but BitOasis said in a separate statement that CoinDCX, which had already acquired a stake in the business last year, now owns the full share capital of the Dubai-based company.
Traders' new fancy: Crypto F&O
Indian crypto traders are flocking to Futures & Options (F&O) markets, with leading exchanges like CoinDCX and Delta Exchange experiencing a volume surge. However, a cloud of uncertainty hangs over the regulatory landscape regarding F&O taxation. This shift is driven by a desire to avoid the 1% TDS imposed by the government on spot crypto trading.
‘Boring’ Bitcoin sends weekend trading volume to all-time lows
Bitcoin's weekend trading volume hit an all-time low of 16% in 2024, influenced by the introduction of Bitcoin ETFs aligning trading hours with traditional exchanges. This shift has decreased price volatility, indicating Bitcoin's evolution into a more stable asset for investors.
Crypto Price Today: Bitcoin gains 1.5% on ETF buying, Solana jumps 7% after VanEck files for ETF
Bitcoin and Ethereum prices surged amidst growing interest and ETF approvals. CleanSpark's acquisition and SEC's ETF approvals signal positive trends in crypto investments. VanEck filed for a Solana ETF, further expanding the investment options in the market.
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Crypto firm Abra reaches settlement with US states for operating without licences
Last year, Abra agreed to discontinue accepting cryptocurrency from its US Abra Trade account customers for use in its products and services, according to a statement from the Conference of State Bank Supervisors (CSBS). Abra announced last year that it would wind down operations for its US retail customers, following multiple enforcement actions from state securities regulators.
Enemy within? China is buying land around American military bases
China's proximity to military bases within the US, including a nuclear missile base in Wyoming, raises national security concerns. The US government blocked a Chinese-backed cryptocurrency mining firm from owning land near Francis E. Warren Air Force Base in Wyoming, citing it as a 'national security risk'. The order required the divestment of property operated as a crypto mining facility near the base.
Crypto money is poised to sway US polls
Cryptocurrency executive Ryan Selkis, from Messari, spoke at an event celebrating Trump's NFTs, emphasizing the political influence of the 50 million U.S. crypto holders.
Why crypto is an asset class that cannot be ignored?
Sathvik Vishwanath discusses the disruptive force of cryptocurrencies and their significance as an asset class in a live stream on ETMarkets, highlighting future trends like Ethereum 2.0 and DeFi.
Crypto marketplace Bakkt weighs potential sale, breakup
Bakkt, offering a range of services such as trading and custody, enters the market amid growing consolidation in the digital-asset sector, as crypto prices approach record highs. While some firms consider expansion, others are still recovering from the industry-wide meltdown two years ago.
Binance stops cash payment for P2P trades
Binance, the world's largest cryptocurrency exchange, has halted 'cash deals' for P2P trades in India, affecting traders who used the rupee 'cash option' to avoid tax regulations.
Forex remittances worth Rs 50,000 crore under ED scanner
Delhi-based entity made illegal sale of cryptocurrencies, sent proceeds to Hong Kong and Canada. Bank officials too being probed for leaking info, helping accused. The agency has carried out searches on residences of one of the suspects, Manideep Mago, and his company, Birfa IT Services.
Ethereum ETFs: Why it is a game-changer for mainstream crypto adoption
Ethereum's pivotal role in propelling the mainstream adoption of crypto cannot be overstated. As the market undergoes continuous evolution, Ethereum stands as a cornerstone, guiding the industry toward unprecedented growth and innovation.
Japanese crypto exchange says lost $300 million bitcoin in 'leak'
Japanese crypto exchange DMM Bitcoin said it had lost bitcoin worth around $300 million in what it described as "an unauthorised leak" from its digital wallet. DMM Bitcoin said the amount of the "leak" was about 48.2 billion yen ($300 million), which equals to 4,502.9 bitcoins.
Venture capital funding in crypto rises to $2.4 billion: PitchBook
Funding was spread across 518 deals and rose by 40.3% from the previous quarter, according to data firm PitchBook. Global venture capital investments dropped to a near five-year low in the same period.
Indian crypto investors take illegal routes to avoid tax burdern
Peer-to-peer trading through escrow services on banned crypto exchanges has increased five times during weeks of high trading volume in March and April, according to a study conducted by Delhi-based policy think tank Esya Centre.
Wallet recovery firms buzz as locked-out crypto investors panic in bitcoin boom
Losing access to a crypto wallet is a well-known problem. Investors forgetting their intricate passwords is a primary reason, but loss of access to two-factor authentication devices, unexpected shutdowns of cryptocurrency exchanges and cyberattacks are also common
Casting an eye on India’s Web3 landscape across crypto, gaming
India has emerged as the fastest-growing adopters of cryptocurrency investments in 2024, as on-chain value received by Indians reached $270 billion in 2024, up 60% year-on-year.
Ether fettered by fate of spot ETF proposals
The no. 2 cryptocurrency, which commands less than a fifth of the $2.7 trillion crypto market, has not done poorly. But ether is up just around 53% in the first three months of this year, compared with bitcoin's 65%.
Binance to end support for USDC stablecoin on Tron blockchain network
Stablecoins are digital tokens that are designed to keep a constant value and are backed by traditional currencies.
Bankrupt crypto lender Genesis to pay $21 million to settle SEC charges
The deal resolves January 2023 charges the SEC filed against Genesis and Gemini Trust Company LLC over their joint crypto lending program. It was one of a spate of enforcement actions the SEC has taken against large firms in the crypto sector.
Cryptoverse: AI tokens outpace record-breaking bitcoin
Coins linked to AI-focused crypto projects have jumped alongside tech stocks like Nvidia, driven by insatiable investor appetite for applications like machine-learning. The rise of many AI crypto tokens has outpaced even that of bitcoin over the past year as the world's biggest cryptocurrency has surged to record levels.
Crypto exchange OKX receives in-principle approval for Singapore payments licence
Cryptocurrency exchange OKX's Singapore subsidiary, OKX President Hong Fang, has received in-principle approval for a payments licence in Singapore from the Monetary Authority of Singapore. This allows OKX to provide digital payment token and cross-border money transfer services in Singapore and expand its presence in the crypto market.
Crypto firm Circle to end support for USDC stablecoin on Tron blockchain
Boston-based Circle said in a blog that, effective immediately, it would no longer mint USDC tokens on Tron, a fast-growing platform widely used for transferring stablecoins whose founder is facing regulatory problems in the United States.
Artificial Intelligence takes centre stage, pushing crypto aside in Davos
In a sudden shift, artificial intelligence (AI) has pushed cryptocurrency firms aside at the 2024 World Economic Forum and has been seen dominating the main strip in Davos, as reported by the CNBC.
Crypto firm HashKey secures $100 million funding, exceeds $1 billion valuation
HashKey said the newly raised capital will be used to strengthen its Web3 ecosystem, enhance product diversification of its licensed business in Hong Kong and support the Group's global development.
Crypto firm Genesis Global Trading to pay $8 million penalty, surrender NY license
Genesis - a cryptocurrency market-maker and brokerage firm - failed to maintain an effective compliance program for anti-money laundering and Bank Secrecy Act requirements and did not file sufficient Suspicious Activity Reports, which requires financial institutions to flag certain transactions to law enforcement.
Binance might be peak for US crypto enforcement cases, says CFTC official
Binance's settlement with the Commodity Futures Trading Commission (CFTC) and Treasury Department, negotiated by the Justice Department, was for breaking U.S. anti-money laundering and sanctions laws.
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