Crypto news

A new financial disclosure has revealed that Trump has millions of dollars invested in crypto – an industry that’s become a clear target of his electoral campaign. Yet despite his many specific appeals to Bitcoin investors, there’s no evidence that the former president holds any BTC himself, as opposed to smaller alternatives. Trump’s Crypto Portfolio According to the 2024 disclosure published by Citizens for Ethics, the Republican nominee holds somewhere between $1 million...

Switzerland has initiated a public consultation on a new bill that aims to integrate cryptocurrency tax data into its international information exchange agreements. Announced by the Federal Council on Wednesday, this initiative seeks to extend the sharing of crypto asset information to 111 jurisdictions that are part of the existing automatic exchange of information (AEOI) system. This process will be in line with the OECD’s Crypto-Asset Reporting Framework. Switzerland has been one of the...

According to recent data from Token Terminal, the Tron network has overtaken Ethereum in terms of revenue generation. Over the past 90 days, the blockchain network has accrued approximately $435 million in fees, outpacing Ethereum’s $364 million. Tron’s Revenue Surpasses Ethereum by 50% Tron’s founder, Justin Sun, took to X on August 15 to highlight this achievement, stating that in the last 30 days, Tron’s protocol revenue exceeded Ethereum’s by 50%. In the past 30 days,...

In a significant development, Binance has agreed to pay 9.6 million reais (about $1.76 million) to settle an investigation with Brazil’s Securities and Exchange Commission (CVM). This investigation focused on Binance’s unauthorized derivatives trading in Brazil, concluding a regulatory dispute that lasted over four years. The problem started in June 2020 when the CVM claimed that Binance was providing derivatives trading without the right authorization. The regulator first insisted on...

Jump Crypto previously sold hundreds of millions of dollars of ETH. This coincided with ETH’s price not breaking through to the next level, with ETH ETFs debuting in the US and the asset further crashing when the Nikkei experienced a bloodbath. Jump Crypto, trading firm Jump Trading’s crypto vertical, unstaked 17,049 ETH worth $46.44 million, moving the funds to exchange accounts. Many crypto market participants fear the firm will sell these funds, causing ETH’s price to drop again. Jump...

Delaware, United States, August 16th, 2024, Chainwire Led by Finality Capital and Paper Ventures, with participation from Arrington Capital, Draper Dragon, Lightshift, and others. Holonym Foundation, an organization building the next generation of digital identity security for the decentralized web, is announcing the completion of a successful $5.5 million seed funding round. The funding round was led by Finality Capital and Paper Ventures, with significant participation from Draper Dragon,...

A wallet related to BitGo conducted a test transfer on Tuesday, following which it sent all its holdings to another wallet. A user on Reddit mentioned receiving the funds owed to them by Mt. Gox through BitGo. A wallet that received over $2 billion worth of bitcoin from Mt. Gox moved a minuscule amount on Tuesday before clearing the entirety of its holdings. While the value of its bitcoin holdings was over $2 billion two weeks ago when the funds flowed in, the price of the 33,105 bitcoins it...

More than half of cryptocurrency-related ads on Facebook are scams or in violation of Meta’s advertising policies, according to Australia’s consumer regulator, the Australian Competition and Consumer Commission (ACCC). The ACCC took Meta to court over these deceptive ads in 2022. It accused the company of publishing misleading ads. These ads falsely used the likeness of celebrities to promote scams. The regulator argued that Meta had engaged in false and deceptive conduct. In addition to...

WazirX, the Indian cryptocurrency exchange, had scheduled a maintenance period to restore account balances and reverse specific trades following a major security breach. WazirX made this announcement on its social media platform, X. The maintenance occured from 6 p.m. on August 15 to 2 a.m. IST on August 16, during which all services on the platform were temporarily unavailable. The attack happened on July 18 and led to the theft of $234.9m worth of cryptocurrency assets. This hack was...

A United Arab Emirates court has recognized cryptocurrencies as a mode of salary payment in a landmark ruling affecting employment contracts. According to a report by Lexology, the ruling by the Dubai Court of First Instance starkly contrasts a decision taken in a similar case and highlights the growing adoption of cryptocurrencies in the UAE. Crypto as Salary Payment The plaintiff sued its former employer for wrongful termination and unpaid wages, seeking compensation and...