Mozilla pauses Crypto donations
Mozilla has stopped accepting crypto donations after backlash from scores of people including one of the founders of Mozilla. “Starting today, we are reviewing if and how our current policy on crypto donations fits with our climate goals. And as we conduct our review, we will pause the ability to donate cryptocurrency,” Mozilla said in a tweet late on Thursday.
Crypto Exchanges are under ED scanner after WazirX tax evasion
After detecting a significant amount of Goods and Services Tax evasion by cryptocurrency exchange WazirX, other crypto exchanges and major investors in digital currencies are now under the lens of multiple agencies. Law enforcement agencies are analysing data pertaining to business activities of cryptocurrency exchanges and investors in crypto assets
UK Advertising Watchdog Bans Crypto Ads
The United Kingdom’s advertising watchdog, Advertising Standards Authority (ASA) has recently banned two crypto advertisements belonging to the crypto exchange, Crypto.com for misleading consumers. Meanwhile, the RBI governor expressed concerns regarding the growing crypto hype. Indian advertising watchdog may take measures soon.
GameStop shares surge on plan to enter NFT, crypto markets
GameStop Corp is launching a division to develop a marketplace for non-fungible tokens (NFTs) and establish cryptocurrency partnerships, a source familiar with the matter said on Thursday. The news boosted the video game retailer’s shares by 27% in extended trading. The company has reportedly hired more than 20 people to run the unit, which is building an online hub for buying, selling, and trading NFTs of virtual videogame goods such as avatar outfits and weapons.
Meme coins return to earth as gloom overtakes crypto fanatics
Cryptocurrency enthusiasts who piled into meme coins such as Dogecoin and Shiba Inu amid the long-time industry rallying call of “to the moon” are finding this year’s journey back to earth pretty painful. Dogecoin, Shiba Inu, and other tokens associated more with online jokes rather than actual software products have been hit harder than sector originals Bitcoin or Ethereum during the recent retreat from record price levels reached late 2021.
Crypto-related crime hit a record $14B in 2021: Chainalysis Report
Crime involving cryptocurrencies surged to a record high of $14 billion in 2021, according to blockchain analytics firm Chainalysis. This is an increase of 79% in value from the $7.8 billion figure from 2020. However, this activity represented just 0.15% of the total of $15.8 trillion in crypto transaction volumes recorded over the year— the lowest percentage ever.