Tag Archives: AA News

Layer 2 scaling solutions have revolutionized the space with faster and cheaper transactions, as well as increased scalability and improved privacy and security. In a bid to increase its competitiveness against rival blockchain networks, a proposal has been submitted that aims to adopt a lower transaction fee cost on Binance Smart Chain (BSC). BSC Proposal The proposal, submitted on March 28th, highlighted the need for a more adaptive transaction cost distribution on the BSC...

About a week ago, a settlement was reached between Celsius and Celsius Custody account holders. As a result, the latter group was promised a refund of up to 72.5% – half on the spot and half by the end of the year – provided they signed away their right to further litigation. Earn Users Hung Out to Dry However, the vast majority of users did not have Custody accounts. Owners of Earn accounts were not promised a refund, as the judge agreed that Celsius’s ToS proved that the...

The United States banking sector is hesitant to do business with crypto firms following the closures of the nation’s most crypto-supportive financial institutions earlier this month.  A collection of industry participants, bank executives, and investors are reporting various instances of banks making crypto partnerships more difficult, from forming lengthy application procedures for such companies to outright abandoning the industry.  Crypto’s Banking Problem As reported by...

Famous American investor Michael Burry, who predicted the 2008 financial crisis, has withdrawn his statement telling his Twitter followers to “sell.” His bullish reversal follows years of predictions that financial markets would continue to tap lower lows since peaking in 2021.  Burry Flips Bullish? On Thursday, Burry reactivated his Twitter account – which he frequently deletes – to make a succinct statement: “I was wrong to say sell.” I was wrong to say sell. — Cassandra...

Founder and former CEO of bankrupt FTX exchange, Sam Bankman-Fried, will again plead not guilty to recent charges brought against him by US prosecutors, which include unlawful political donations and alleged bribery of Chinese officials. He is scheduled to stand trial for various criminal charges in October. Bankman-Fried to Plead Not Guilty to 13-Count Charges According to Reuters on Thursday (March 30, 2023), an anonymous source said that Sam Bankman-Fried is planning to...

The Supreme Court of Denmark ruled that people should be subject to taxation when generating profits by selling bitcoin. The legislation will apply to both investors and miners.  The Court’s Decision Højesteret – the third and final instance in all civil and criminal cases in the Kingdom of Denmark – announced on March 30 that investors who made any profits when selling bitcoin holdings will have to pay taxes.  The magistrates claimed that people buy BTC, hoping to sell it at...

Injective – a  layer 1 blockchain – announced the first-ever Solana rollup launch for Cosmos. According to the official press release shared with CryptoPotato, the “Solana Sealevel Virtual Machine (SVM)” will be deployed within the Cosmos ecosystem with the help of roll-up provider Eclipse. By bringing the Solana development environment to the broader Cosmos ecosystem, the integration is aimed at bolstering growth and user adoption within the two ecosystems Solana-Cosmos...

Leading crypto exchange, OKX. outlined plans to return frozen digital assets linked to Sam Bankman-Fried’s crypto companies, FTX and Alameda Research, following a recent motion filed in the FTX bankruptcy proceedings. The Seychelles-based exchange said it opened an investigation into FTX to determine whether the firm had conducted business on OKX before its demise in November last year. OKX to Transfer $157M to FTX Bankruptcy Estate During the investigation, OKX found...

Starting this weekend, the Kraken logo will be exposed to millions of users thanks to the exchange’s partnership with the famous Formula 1 racing team, Williams Racing. On March 28th, Kraken, one of the largest cryptocurrency exchanges worldwide, announced the signing of a sponsorship agreement with Williams Racing, considered one of the four top Formula 1 teams, alongside Ferrari, McLaren, and Mercedes. According to Kraken’s statement, this is the exchange’s first...

Buried in a mountain of charges from the Justice Department, Former FTX CEO Sam Bankman-Fried (SBF) is reportedly paying his legal fees with money gifted to his father that was initially borrowed from his trading firm, Alameda Research.  The multi-million dollar revelation comes after Bankman-Fried claimed in late November that he had just $100,000 left in his bank account.  SBF’s Legal Defense Fund In a report published on Tuesday, Forbes claimed to have received information...