Markets

The call for reducing Tax Deduction at Source (TDS) on crypto transactions is intensifying among the crypto ecosystem players in India. A TDS of 1% on virtual digital assets has been approved by the Union budget 2022-23. Terming this too high as it can drive traders away from the market and hurt volumes, industry representatives are demanding to bring it down in the range of 0.01% to 0.05%.  Unocoin, CoinDCX CEOs Call for TDS Reduction Sathvik Vishwanath, co-founder and CEO...

The Chairman of the United States Securities and Exchange Commission (SEC) – Gary Gensler – opined the turbulence in the digital asset market has not ceased with Terra’s fiasco. He predicted that a lot more coins will “fail,” which will harm an additional number of investors. The Turmoil is Not Over Yet The cryptocurrency market has significantly declined in the last few weeks. Bitcoin, for one, is down by over 25% in the past 14 days. However, all eyes were on Terra’s native...

Spending cryptocurrencies such as Bitcoin and Ethereum in shops and restaurants is getting easier by the day. More and more merchants grasp the potential of cryptocurrencies and adopt them in one way or another. Several cryptocurrency debit cards have recently popped up to help businesses offer digital assets as a payment method. Just like any other conventional ones, cryptocurrency debit cards allow you to conduct day-to-day transactions using BTC, ETH, XRP, and other...

Tether’s USDT stablecoin is beyond fully backed, according to the latest assurance report provided by accounting firm MHA Cayman. The firm found that Tether’s total assets are worth at least $82,424,821,101, while its total liabilities (including issued stablecoins) amount to $82,262,430,079. The State of Tether’s Reserves The report’s figures match those in Tether’s unaudited Consolidated Reserves Report (CRR) as of March 31st, 2022. This ensures that Tether’s USDT...

The US arm of the cryptocurrency exchange, FTX, is going old school with the launch of its new stock-trading service for a limited number of users in the country. The new offering is being released through FTX Capital Markets, which happens to be a FINRA member broker-dealer. Push for Stock Trading According to the official announcement, the platform plans to expand its functionality to all US users over the next months. FTX Stocks will enable users to trade and invest in...

The cryptocurrency market is still in a state of uncertainty and fear. Ethereum is no exception, and any upward attempt is faced with immediate sell pressure. Will the bulls be able to regain control of the market? Technical Analysis By Grizzly The Daily Chart On the daily time frame, ETH is moving downward inside a falling wedge (in yellow). It is important to note that this wedge bottom is aligned with the horizontal support level of $1700 (in green), which can be a...

When deciding to purchase cryptocurrency, a cautious individual diligently approached the question by studying the market to select the right asset. It would be best to look for the coin with a solid road map and development plans. Cryptocurrencies like Bitcoin can experience significant price swings at any given minute. Such price volatility may not be appropriate for individuals making their first steps in the cryptocurrency markets. A reasonable question emerges: How...

Ripple has announced a partnership with Lithuania’s FINCI to provide retail remittances and B2B payments through RippleNet’s On-Demand Liquidity (ODL). Thanks to this partnership, FINCI’s customers can make seamless payments between Europe and Mexico, a PR from Ripple said. Ripple-FINCI Partnership FINCI is an online cross-border money transfer provider, while RippleNet’s ODL provides crypto-enabled international payments. ODL taps into global crypto liquidity to give...

Switzerland-based investment product issuer – 21Shares – is launching two private funds tailored for US  accredited investors to gain exposure to crypto assets. The products will track top and mid-tiers cryptocurrencies available on US exchanges. Entering the US Market According to the press release by the firm, the two products – 21Shares Crypto Basket 10 Index Fund and 21Shares Crypto Mid-Cap Index Fund – will respectively track the performance of the “Vinter 21Shares...

The Play-to-Earn (P2E) gaming sector has grown into a powerful concept within the cryptocurrency industry as non-fungible tokens took flight and legitimized a new segment in the market. Gaming has long been touted as one of the best applications for blockchain-based technology. Even though it’s still in its nascency, GameFi has proven to be a model that players enjoy. For example, CryptoBlades — a blockchain and web-based NFT roleplaying game — attracted the interest of...