Tag Archives: crypto

Crypto advocates may soon be celebrating a major political shift, with results from the 2024 U.S. election showing hundreds of pro-crypto candidates winning seats in Congress. The results have come in the wake of the sector flexing its political and financial muscles, spending more than $238 million to grow its influence in the American legislative space. Crypto Spending Boosts Key Senate Races Initial projections from the Fox News Decision Desk and live results from the...

According to a new report by the Financial Intelligence Unit (FIU), South Korea’s cryptocurrency investor base has surged to 7.78 million. This figure marks a 21% increase from the previous year. The “Virtual Asset Business Survey” shows domestic crypto investors increased by 1.33 million compared to the second half of 2023, driven largely by an explosive growth in Bitcoin’s value. Investor Profile and Market Behavior This growth coincides with a 67% increase in the average...

Swiss-based decentralized trading platform dYdX has announced a 35% reduction in its core workforce. Platform CEO Antonio Juliano initially shared the news in a brief post on X, calling the decision “sad” while promising to provide more measured reasoning for the action later. A Leaner dYdX In the social media post, the CEO stressed that the layoffs were not a financial decision, a point reinforced in a subsequent blog entry titled “Letting Go.” Here, Juliano attributed the...

A recent investigation has linked popular YouTube personality James Stephen Donaldson, better known as MrBeast, to over $23 million in alleged profits from various cryptocurrency trades that may involve insider trading. According to a report by advisory firm Loock.io, a group of on-chain investigators claims that MrBeast and his influencer network used their social media presence to promote and profit from several crypto tokens at the expense of investors. $23 Million in...

Minneapolis Federal Reserve President Neel Kashkari has found himself on the wrong end of a backlash after stating that most cryptocurrency transactions involve drugs or illegal activities. The comment from the official, a known crypto skeptic, did not go unchallenged, with several members of the community calling him out for it. Fed Official Says Crypto Mostly Used for Illegal Activity Kashkari was at a town hall meeting in Chippewa Falls, Wisconsin, when a member of the...

Federal prosecutors have indicted New York City Mayor Eric Adams following corruption investigations that have triggered the retirements and resignations of several members of his administration. Adams, a former police captain, made the headlines in 2021 when he pledged to take his first three paychecks in Bitcoin (BTC) when he became mayor. Charges Remain Unclear According to reports from the New York Times, it is still unclear what Adams is being charged with since the...

Vitalik Buterin, co-founder of Ethereum, took to social media platform X to commend Celo’s growth. The blockchain network recently outpaced Tron in daily active addresses for stablecoin usage. Celo’s Growth In his post, Buterin expressed enthusiasm for the achievements, stating: “This is amazing to see. Improving worldwide access to basic payments and finance has always been a key way that Ethereum can be good for the world, and it’s great to see Celo getting traction.” At...

New Zealand Implements OECD Crypto Reporting Rules to Enhance Tax Compliance. Non-compliance penalties include fines up to $6,200 for providers and $621 for users. On August 26, 2024, New Zealand’s Minister of Revenue, Simon Watts, proposed a significant legislation amendment to improve transparency in cryptocurrency transactions. The “Taxation Annual Rates for 2024-25, Emergency Response, and Remedial Measures” Bill, which includes the OECD’s Crypto-Asset Reporting Framework (CARF) and...

Shiba Inu released ShibTorch, a burn gateway that depletes SHIB supplies. ShibTorch incorporates EIP-1559 features to manage transaction fees and trigger burns. The long-awaited ShibTorch burn portal has been opened to the public on Shibarium, marking a huge milestone for the Shiba Inu ecosystem. ShibTorch, which was announced on Shibarium’s official X account, is currently online and promises to regulate SHIB’s circulating supply through community-driven burns. ShibTorch is designed to burn...

MetaMask Card enables direct crypto spending via Mastercard, streamlining transactions. Initial rollout is limited to the EU and UK, with plans for broader global expansion. MetaMask, a widely used Ethereum wallet and gateway to the decentralized web bridges the gap between blockchain technology and daily transactions. Is now teaming up with Mastercard and Baanx to launch the MetaMask Card, the first-ever debit card which enables users to spend cryptocurrency directly from their MetaMask...