Crypto news

Su Zhu – one of the Founders of the distressed crypto hedge fund Three Arrows Capital (3AC) – is reportedly worried about fronting severe law punishment. Specifically, the Singaporean said he, Kyle Davies, and other executives could face “fines and imprisonment” for being in charge of the troubled company. At the end of June, a court in the British Virgin Islands ordered 3AC into liquidation. Shortly after, numerous crypto firms confirmed exposure to the failed company, while...

Central America and bitcoin continue to be like two peas in a pod. Initially, the trend of Central America accepting and using bitcoin like it was actual money began with El Salvador in 2021. The country was the first to declare BTC legal tender and it hasn’t looked back. Now, the neighboring region of Honduras – while not going as far as to declare bitcoin money – is using the world’s number one digital currency to attract tourism through what it’s calling “Bitcoin...

Two of the iconic American rappers – Eminem and Snoop Dogg – will perform their mutual single “From D 2 the LBC” live on the MTV-sponsored Video Music Awards (VMAs) this Sunday. Bored Ape Yacht Club (BAYC) holders will be allowed to watch this event live at the “Otherside” Metaverse. The song includes the artists’ personal non-fungible tokens, who spent hundreds of thousands of dollars to acquire them. The Duo’s Song Goes Live on Air The renowned musicians have not always...

After the recent stagnation, bitcoin finally began moving and dumped to a six-week low beneath $20,000. Most altcoins are deep in the red as well. Ethereum is down to $1,500, while SOL, ADA, and AVAX have declined by up to 8% in a day. Bitcoin Dipped Below $20K Last week was particularly harmful to the primary cryptocurrency, which dumped from $25,200 to $21,000 in a matter of days. Since that enhanced volatility, the asset calmed and spent most of the following days trading...

Bitcoin only intensified its recent price drops by slumping to just under $20,000 for the first time in about six weeks. The alternative coins suffer, too, leading to almost $400 million in liquidations from over-leveraged traders. CryptoPotato reported the relatively stable price movements from bitcoin in the past week or so. After falling by $4,000 in the previous week, BTC spent most of this one around the $21,000 mark. It challenged $22,000 a few days ago but to no...

Sarath Ratanavadi – CEO of Gulf Energy Development – reportedly stated that his company will invest in blockchain ecosystems to diversify some of its profits. The decision comes despite the broad market collapse and the strict stance that local watchdogs have taken towards the sector. Ratanavadi is known as the second-richest person in Thailand. According to the Bloomberg Billionaires Index, his fortune nears $12 billion, while his corporation supplies energy to Thailand,...

India’s Directorate of Enforcement (ED) on Thursday conducted searches at the offices and residences of CoinSwitch Kuber as well as its CEO and directors. The financial crime investigating agency is reportedly investigating a possible violation of the Foreign Exchange Maintenance Act (FEMA). The searches were carried out after the ED officials found that the top executives of CoinSwtich Kuber, an India-focused a16z-backed crypto exchange, were not cooperating with the...

In an attempt to stay afloat, Zipmex has asked for meetings with the Securities Exchange Commission in Thailand as well as other government agencies as it works on a recovery plan. The firm intends to introduce its investors to the watchdogs. In a statement, Zipmex said, “We have requested meetings with Thailand’s Securities and Exchange Commission and regulators in the country where we operate to introduce our investors to regulators and present our recovery plan to...

Tornado Cash was added to the US sanctions list by the Office of Foreign Asset Control (OFAC) on August 8. Two days later, Alexey Pertsev, a coder tied to the crypto mixing service, was arrested by Dutch authorities. The blacklisting and the subsequent events sparked an outcry from privacy proponents, with many protesting and engaging in acts of civil disobedience. But according to intelligence firm, Kharon, Pertsev was formerly employed by a company linked to Russia’s...

A handful of lawmakers in the U.S. are pushing to do away with crypto taxes on small transactions. Will Crypto Taxes Become a Thing of the Past? Right now, capital gains taxes are required on all crypto transactions that garner profits for their owners. Let’s say you buy $100 worth of bitcoin. You hold onto it for some time and that $100 eventually becomes $1,000. You then sell the BTC. You’ve made $900 in profit through that transaction, and you’ll likely owe taxes to...