In the Bitcoin market, there has been a notable recent trend characterized by a substantial decrease in the on-chain transaction volume. The term “on-chain transaction volume” pertains to the aggregate quantity of Bitcoin that is being transferred on the blockchain. The scope of Bitcoin transactions encompasses both individual transactions and broader transfers of Bitcoin between … Read more
The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against eToro Aus Capital Limited over its Contract for Difference (CFD) product. The lawsuit alleges potential breaches of design and distribution obligations and concerns about eToro’s license obligations related to efficiency, honesty, and fairness. ASIC questions the appropriateness of eToro’s chosen target market for … Read more
GameStop is ending its support for crypto wallets due to regulatory uncertainty in the industry. The decision will take effect from November 1, and customers will no longer have access to iOS and Chrome Extension wallets. The GameStop wallet was launched in May 2022 as a self-custodial Ethereum wallet, allowing users to manage cryptocurrencies and … Read more
Binance, the world’s largest crypto exchange, remains the dominant player in China despite the country’s crypto ban. In May, Binance recorded over $90 billion in trading volume from China, challenging the assumption that regulatory bans stifle market expansion. Binance’s success in China is attributed to its savvy use of spot and futures trading, meeting market … Read more
The Kenyan government has suspended the local activities of Worldcoin, a digital identity project, citing concerns for the safety of Kenyans. Kenya becomes the first country to suspend Worldcoin’s operations, while others have initiated investigations into the project. The suspension will remain in place pending further investigation by relevant security, financial services, and data protection … Read more
MicroStrategy plans to increase its Bitcoin stack and raise at least $750 million by selling more stock, with a sizable part of the funds used to buy more BTC. The firm, led by Chairman Michael Saylor, has shown continued interest in Bitcoin and has invested billions of dollars into BTC since the pandemic. MicroStrategy will … Read more
Six entities have filed applications with the SEC for Ethereum (ETH) futures-based Exchange-Traded Funds (ETFs), following the recent wave of Bitcoin spot ETFs. The rush to launch Ethereum spot ETFs has sparked interest in the crypto community. Volatility Shares was the first to file for an Ether ETF on July 28, followed by Bitwise, VanEck, … Read more
In the Chapter 11 bankruptcy case involving its cryptocurrency lending unit, Genesis Global, Digital Currency Group (DCG) is getting close to settling the allegations that have been filed against it. DCG has been engaged in negotiations with the goal of arriving at an agreement in principle to resolve the claims, and the organization anticipates that … Read more
The EY-ZERO1 non-fungible token (NFT) collection of Etihad Airways has been enlarged, bringing new advantages to NFT owners. Benefits including priority check-in, Etihad Guest Silver Tier Status, and the option to stake NFTs to earn miles are offered with the 300-edition update. Exclusive perks, such as Etihad Silver Tier status and entry to an NFT … Read more
The IRS has declared that US investors must disclose cryptocurrency staking earnings as income. The decision makes it clear that, once the taxpayer gains control of the tokens, staking earnings should be counted as a component of their gross income. Investors now have clarity on their tax obligations thanks to the IRS’s first explicit mention … Read more