Tag Archives: AA News

Tether, the operator of the third-largest cryptocurrency with a market cap of almost $70 billion, announced the USDT launch on Polkadot. Thus, the stablecoin is now available on roughly a dozen blockchain networks. The announcement from the company described Polkadot as a “full-stack Web 3 ecosystem built for the multi-chain future.” Adding that it has a “multi-chain application environment where activities such as cross-chain registries and cross-chain computation are...

The IRS is going after crypto owners who fail to report gains on their taxes. The US tax authority got a court order Thursday enjoining an NYC bank to turn over records on potential crypto tax dodgers. While crypto markets appear in the throes of “winter” against buys made last November to date, half of the bitcoin holders are holding at a profit. The IRS requires US taxpayers who sell bitcoin or any cryptocurrency at a profit to report it. And it is willing to use all means...

Harmony Protocol, which suffered a hack in June, has shared an update on its recovery plan for the community. The team stated that there would be zero percent minting, at least for now. In an amended recovery proposal published in a Medium blog post on Friday (September 23, 2022), the Harmony team said there are no plans to mint additional ONE tokens, nor would there be a hard fork. The latest development shows a shift from an earlier recovery plan in July, which proposed a...

Voyager Digital’s Chief Financial Officer, Ashwin Prithipaul, is set to exit the company after a transition period to “pursue other opportunities.” The exec joined the company as the CFO in May this year. Voyager’s current Chief Executive Officer, Stephen Ehrlich, will step into the role to assume Prithipaul’s duties in the interim. In addition to a brief stint as a CFO in Drive Digital, Prithipaul also served executive positions at Galaxy Digital, initially as Chief...

The news of Jesse Powell, the CEO of Kraken, stepping down from the position at the cryptocurrency exchange he founded in 2011 is a significant shake-up. The exec recently came under fire for allegedly “fostering a hateful workplace and damaging their mental health,” according to a New York Times feature. But Powell believes the entire fiasco was a “blessing in disguise” and that it turned out positively for the company. Powell’s Comments Post Step Down Despite the market...

Bitcoin price retested the $18K support level Friday. That’s the third time in a week, with the crypto failing to pass resistance at $19.5K twice on the 5-day chart. The crypto exchange price for a piece of the world’s original blockchain currency continues to consolidate at around $19K. That has been the trend for Bitcoin (BTC) over the month of September. Over the six-month chart, year-to-date, and one-year view, bitcoin is deeply in the red. It’s the third prolonged...

The co-founder of Ethereum suggested that two other PoW blockchain protocols could transition to PoS in the near future. He also spoke about the Merge during the 2022 Mainnet blockchain event and gave a brief update about the next step in Ethereum’s development – the Surge. Ethereum made history on September 15, when it became the first large-scale blockchain protocol that successfully transitioned from proof of work to proof of stake. The ramifications of this significant...

Dan Morehead – head of the institutional asset manager Pantera Capital – thinks there might be many distressed financial sectors in the years to come, but the digital asset industry will not be among them. Similar to his previous statements, the executive argued that a crypto bull market is on its way, while blockchain technology will be employed by billions of individuals in the years to come. Bullish as Usual In an interview for CNBC, Morehead opined that cryptocurrencies...

Aiden Pleterski – a 23-year-old Canadian trader and self-described “Crypto King” – is being sued after allegedly failing to return at least $35 million to his investors.  Authorities have already seized $2 million in assets from the Ontarian, including two McLarens, two BMWs, and a Lamborghini. Crypto Trader, or Fraudster? Pleterski ran a business called AP Private Equity Limited, through which he promised to generate high returns for investors through well-timed crypto and...

Douglas-based cryptocurrency exchange CoinCorner has partnered with Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to facilitate Bitcoin transactions in the United Arab Emirates (UAE). Under the agreement, Seed Group will aid in the expansion of CoinCorner’s operations across the emiratesand the wider Middle East as well as access to top decision-makers in the government and private sectors. Promoting the exchange’s Bitcoin transaction...