Tag Archives: News

Nearly a month after a massive hack led to the loss of $234 million from WazirX’s Safe Multisig wallet, the Indian crypto exchange has restored investor balances. However, the timeline for when users can withdraw their funds remains unclear, causing frustration and anxiety among investors. On August 16, WazirX provided an update stating that they are focusing on resolving two main issues: defining the proper approach when dealing with the balances in the Indian Rupee (INR) and the issues...

The court previously acknowledged the crypto aspect of an individual’s unpaid salary but did not order the employer to pay the tokens. The court enforcing crypto-related salary payments in a new case this year legitimizes daily payments using the asset class in the UAE. The Dubai Court of First Instance recognized the validity of crypto payments as a valid medium of salary payments under employee contracts. This development occurred as the court ruled in favor of an employee who was owed...

Vitalik Buterin donates 200 ETH ($524K) to the Animal Welfare Fund. This donation aligns with Buterin’s idea of using cryptocurrency for charitable causes. Ethereum co-founder Vitalik Buterin has once again used digital currency to make a major charitable donation. Buterin recently sold 40 ETH worth of Neirodog meme coins, totaling around $533K, and distributed the profits to several charities. This donation is part of Buterin’s larger plan of directing proceeds from animal-themed meme coins...

Malaysia has officially adopted Worldcoin’s iris scan technology as part of its digital transformation strategy. This significant step aims to improve the security and efficiency of digital identity verification across the country. The adoption stems from a partnership with the Worldcoin Foundation, Tools for Humanity (TFH), MyEG, and MIMOS Berhad, which is Malaysia’s governmental research and development body. It aims to align Worldcoin’s highly secure biometric option called ‘proof of...

Turkey’s new crypto legislation has sparked an influx of 47 license applications. 76 crypto exchanges, including Coinbase and KuCoin, have applied for licenses in Turkey. Turkey has witnessed an enormous spike in interest from crypto companies seeking to enter the industry. The Turkish Capital Markets Board (CMB) has revealed that 76 cryptocurrency firms have sought licenses under the newly adopted legislation. Notable candidates include Bitfinex, Binance TR, and OKX TR.  Crypto Exchanges...

Republican presidential candidate Donald Trump has announced that Howard Lutnick, CEO of Cantor Fitzgerald, will co-lead his transition team if he is re-elected in 2024. Lutnick has been a significant figure in the financial services sector and a supporter of cryptocurrency. He will work alongside Linda McMahon, the former U.S. Administrator of the Small Business Administration. Trump’s vice presidential pick, J.D. Vance, and Trump’s sons, Donald Trump Jr. and Eric Trump will serve as...

Roman Sterlingov, the founder of the crypto mixer Bitcoin Fog, is challenging a potential 30-year prison sentence after being convicted on multiple money laundering charges. Sterlingov’s defense team argues that the recommended sentences of 30 years by the prosecution and 20 years by the Probation Office are excessive and unfair compared to similar cases. The defense insists that such severe recommendations stem from the “cumulative effect” of various legal enhancements that address...

The US Government transferred close to $600 million in bitcoin to a Coinbase Prime deposit wallet. Contrary to popular belief in the crypto circles, this transaction to an exchange may not imply selling activity. The US Government moved 10,000 bitcoins, worth $593.91 million, to a Coinbase Prime deposit wallet on August 14. These assets were seized from the darknet marketplace Silk Road. The wallet transferring these funds, ‘bc1qlap8hkt9genaljz5nt2zlehhudx63zlahr2zek,’ received the bitcoin...

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...

The International Monetary Fund (IMF) recently suggested a significant increase in electricity taxes for cryptocurrency mining, which could lead to a global reduction in carbon emissions. Two IMF executives, Shafik Hebous and Nate Vernon-Lin, proposed raising electricity taxes by up to 85% for crypto miners. They believe this move could help reduce the environmental impact of crypto mining. The proposal involves a tax of $0.047 per kilowatt hour on electricity used by crypto miners. This...