Tag Archives: Cryptocurrency News

Strating January 1, 2024, Brazil will introduce a flat 15% tax on crypto profits and up to 6,000 Brazilian reais ($1,200), will be exempt from taxation.  In a significant move, President Luis Inácio Lula da Silva of Brazil has signed into law a measure that imposes taxes on crypto assets held abroad by Brazilian citizens. The law, signed on December 12, was officially published in the Diário Oficial da União (Official Diary of the Union) on the following day. The taxation law shall come...

The filing comes just weeks after it was reported that SafeMoon executives were at the centre of a Department of Justice (DoJ) securities fraud investigation. Crypto firm SafeMoon on Thursday, December 14,  filed for Chapter 7 bankruptcy, also known as liquidation bankruptcy. The filing was done by attorney Mark Rose in the United States Bankruptcy Court for the District of Utah. This comes as the company’s executives face criminal charges in the United States for allegedly defrauding...

The 25 billion BONK tokens airdropped to Solana developers last year are now worth over $600,000 after the meme token has rallied in the last few months. During the holidays, it is common for companies to give their employees bonuses, usually in cash or kind. But last year, Solana developers got a potentially life-changing bonus when they were airdropped 25 billion BONK tokens each. Now, a year later, these developers could find themselves making quite a profit after the value of BONK has...

With a history of backing successful ventures like Cosmos, Solana, and Polkadot, Cyber.Fund aims to foster the development of what it terms the “cybernetic economy”, where blockchain forms the foundation. Cyber.Fund, an investment firm renowned for its early support of Ethereum, has recently unveiled an impressive commitment of $100 million towards blockchain projects that merge artificial intelligence (AI) and the Internet of Things (IoT). With a history of backing successful ventures...

LayerZero’s V2 introduces an omnichain network of blockchains to enable web3 developers to build universal decentralized applications. Amid the mass adoption of web3 applications, LayerZero (ZRO), a fast-growing omnichain interoperability protocol, has emerged as a crucial component. Backed by a strong community and group of software engineers, LayerZero has been making waves as a top interoperability network. Moreover, LayerZero supports more than 50 blockchains and has so far facilitated...

Binance surveyed 1,172 of its registered users in jurisdictions where it is allowed to operate and found that 45 percent rely on crypto to earn an extra income. Binance Holdings Ltd, the leading cryptocurrency exchange by daily traded volume and globally registered users, recently surveyed its registered users to understand top use cases for crypto assets. Notably, the cryptocurrency exchange conducted the survey on 1,172 randomly distributed in Asia, the Middle East, Europe, Africa, and...

Although the price spikes following the Fed announcement cleared recent bearish drawdowns and provided support levels, uncertainty remains over the sustainability of the increases. The prices of major cryptocurrencies, including Cardano (ADA) and Solana (SOL), have seen fluctuations around the latest Federal Reserve announcement on interest rates. On December 13th, 2023, the Fed decided to keep rates within a target range of 5.25–5.50%, leading to an initial boost in the price of Bitcoin...

ESCC will introduce stablecoin-based gas fees and Ethereum compatibility on EOS. EOS Labs and EOS Network Foundation (ENF), the main stewards of the EOS Network have announced a strategic collaboration with EOS Stable Coin Chain (ESCC), an Ethereum-based stablecoin solutions provider. ESCC is a novel smart contract on the EOS Network using a customized implementation of the EOS EVM architecture. According to the partnership details reaching our desks, the three companies aim to integrate...

Cronos has announced a layer 2 network for the Ethereum blockchain in collaboration with Matter Labs, Crypto.com, Fulcrom, VVS, and Veno. Cronos Labs, the name behind the Cronos blockchain, and a partner to Crypto.com, has announced a new layer 2 platform built for the Ethereum network. Cronos Labs has now joined a growing list of services working on improving Ethereum’s scalability by building and launching off-chain networks. The platform is initially available as a public testnet. 📖...

Solana, the blockchain network hosting Bonk, has experienced an impressive run in 2023. Earlier this month, SOL saw a remarkable 50% jump in just a few days, indicating a strong bullish trend.   The crypto market is seeing another boom in the altcoin space as Solana-based memecoin, Bonk (BONK), witnessed a 40% surge in the past 24 hours following the announcement of its listing on the prominent exchange, Coinbase Global Inc (NASDAQ: COIN). This development positions BONK as the...