Michael Saylor’s MicroStrategy Extends its Bullish Stance on Bitcoin,
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…
After BTC ETF Frenzy, ETH ETF’s Join the Frenzy As Well
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,…
Digital Currency Group Close to Settle Genesis Bankruptcy Very Soon
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…
Etihad Airways Plans Web 3.0 Loyalty Program
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…
US IRS Makes Crypto Staking Income Declaration Mandatory
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…
BALD Memecoin a Scam?
The Memecoin mania on Coinbase-supported Base has produced both enormous gains and the possibility of rug pulls. Memecoins are being accumulated by cryptocurrency traders in place of Bitcoin as a result of their potential for larger gains in comparison to Bitcoin’s declining returns. The top memecoins making news this past weekend include BALD, which soared…
Bank of Korea to Test CBDC in Regions Around Seoul
The Bank of Korea (BoK) is progressing in the development and testing of its central bank digital currency (CBDC). Three regions outside Seoul, namely Jeju, Busan, and Incheon, have been selected for a “private target CBDC test bed.” The BoK plans to experiment with public payments and distribution in one of these regions and establish…
This South Korean Exchange Halts CRV Trading Following its Exploit
South Korean exchange Upbit suspended trading of Curve Finance (CRV) token after a major exploit on the platform. The exploit was caused by a reentrancy bug that affected certain stablecoin pools, putting over $100 million worth of assets at risk. Upbit temporarily halted CRV deposits and withdrawals to protect users from potential losses. Other exchanges…
Ethereum Clocks $3.6 Billion in its 8th Birth Year
Ethereum celebrated its 8th anniversary with a market capitalization of approximately $227 billion. The project was introduced in November 2013 with Vitalik Buterin’s whitepaper, officially announced in January 2014. Ethereum achieved $400 billion in secured value, generating annualized profits of $3.6 billion, and 17.8 million blocks of digital assets. Ethereum’s decentralized platform empowered developers, leading…
BNB Chain Hit by $73,000 of Crypto Hack
Copycat attacks on BNB Smart Chain (BSC) led to the theft of cryptocurrency valued at about $73,000. The attacks targeted BSC’s DeFi pools by taking use of flaws in the Vyper programming language used in some versions (0.2.15, 0.2.16, and 0.3.0). Attackers were able to repeatedly call a contract’s function and access cash without authorization…