Category: Top Crypto News

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EU Parliament Approves Crypto Legislative Package – Top Crypto News

EU Parliament approves crypto legislative package

The European Parliament’s Committee on Economic and Monetary Affairs (ECON) has passed the Markets in Crypto Assets Regulation (MiCA) legislative package. It aims to coordinate the EU’s regulatory approach to the crypto industry. The legislation will ensure that the EU financial services regulatory framework is innovation-friendly and does not pose obstacles to the application of new technologies.

Crypto prices today: Bitcoin falls 1.5%, ETH down 2.6%

Bitcoin is currently trading at $38,405.5, a 1.49% decline over the previous day. Ethereum is down 2.6% over the last 24 hours to $2,523.2. Solana fell 2.37% to $79.2, while Cardano is trading lower by 2.47% at $0.78. Avalanche (AVAX) plunged 5% to $66.22. The global crypto market cap stands at $1.89 trillion, a 1.89% decline over the previous day.

Former Walt Disney CEO Bob Iger backs Metaverse startup

Bob Iger, the former CEO of the Walt Disney Company, is joining the board of directors of Genies, a digital avatar platform built on the Flow blockchain. Genies has signed partnerships with Universal Music Group and Warner Music Group. They are the official provider of avatars and NFTs for artists at the music labels. [The Flow blockchain is a protocol for NFT collectibles and large-scale crypto games.]

FTX, Everstake launch crypto fundraising site for Ukraine

The Ukrainian Ministry of Digital Transformation, in partnership with FTX and Everstake, has launched an official crypto fundraising site called Aid for Ukraine. It will help expedite donations to the war-torn nation. Currently, donations to Aid for Ukraine can be made in BTC, ETH, USDT, DOT, SOL, etc. 

FTX is a Bahamian crypto exchange. Everstake is a staking service platform that helps institutional investors and token holders to profit off their digital assets.

ED probing 7 crypto cases, seized assets of 135 crore: Govt

The Enforcement Directorate (ED) is probing seven crypto-related money laundering cases, the govt informed the Parliament on Monday. So far, ED has attached digital assets worth more than Rs 135 crore. Multiple cases have emerged where black money generated in India has been laundered out of the country after converting them into crypto.

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Russians Liquidating Crypto in UAE as They Seek Safe Havens – Top Crypto News

bitcoin crosses $50000

Russians liquidating crypto in UAE as they seek safe havens

According to a Reuters report, crypto firms in the United Arab Emirates (UAE) are being flooded with requests to liquidate billions of dollars of virtual currency as Russians seek a safe haven for their fortunes. Some clients are using crypto to invest in real estate in the UAE. Others want to use firms there to turn their virtual money into hard currency and stash it elsewhere. Russian clients are afraid Switzerland will freeze their assets.

Crypto prices today: Bitcoin falls 1%, ETH down 0.3%

Bitcoin is currently trading at $39,770.6, a 0.97% decline over the previous day. Ethereum is down 0.36% over the last 24 hours to $2,578.12. Solana fell 2.4% to $80.4, while Cardano is up 1% to $0.804. Meanwhile, Terra (LUNA) jumped 3% to $90.13. The global crypto market cap stands at $1.73 trillion, a 1.12% decline over the previous day.

Crypto among Ukraine’s best weapons against Russia: Ethereum co-founder

Crypto has proven a powerful weapon for Ukraine in its battle against Russia, said Ethereum co-founder Joe Lubin. He added that the crisis in Eastern Europe is becoming “a point of no return” for crypto’s steady integration into global markets. Nearly $60 million in cryptocurrency has been channeled into Ukraine as donations so far.

Bored Ape Yacht Club slammed by crypto fans for new KYC project

Creators of Bored Ape Yacht Club (BAYC) have faced backlash from its fans after the company’s latest collaboration with Animoca Brands. The project requires users to undergo know-your-customer (KYC) verification. The ape community will need to reveal their photo identities and government documents to take part in BAYC’s latest project. BAYC had tweeted out a link to a website where fans can apply.

Asking for personal information underlines the whole purpose of crypto that offers anonymity to the collectors. 

Binance discusses crypto license with Dubai WTC

Binance is in discussions with Dubai World Trade Centre free zone for a virtual asset service provider license. The move comes off the back of Bahrain giving Binance an in-principal approval to be a crypto-asset service provider in the country. The global crypto exchange will support Dubai’s ambition to drive economic prosperity through digital innovation.

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eBay Teases ‘Digital Wallet’ in Investor Presentation – Top Crypto News

eBay teases ‘digital wallet’ in investor presentation

Online marketplace eBay flashed a “digital wallet” slide early in its Investor Day presentation. This added to chatter about what the company’s plans might be with respect to crypto. Last month, CEO Jamie Iannone said the company is studying the potential for accepting crypto as it aims to be the go-to marketplace for Gen Z and millennials. eBay already allows the sale of non-fungible tokens (NFTs) on its platform.

Crypto prices today: Bitcoin falls marginally, ETH up 0.5%

Bitcoin is currently trading at $39,177.65, a 0.3% decline over the previous day. Ethereum is up 0.4% over the last 24 hours to $2,606.5. Solana decreased by 0.3% to $82.3, while Cardano is down 0.5% to $0.806. Meanwhile, Polkadot (DOT) jumped 5% to $17.8. The global crypto market cap stands at $1.75 trillion, a 0.04% decline over the previous day.

Crypto brain drain is “absolutely crazy” in India: Polygon co-founder

Dubai-based blockchain platform Polygon’s co-founder Sandeep Nailwal, while discussing India’s crypto sector and its regulations, said “the brain drain is absolutely crazy.” He discussed how developers, investors, and entrepreneurs are leaving for places with more friendly regulations. Nailwal said he wishes to stay in India and promote the Web3 ecosystem but regulatory uncertainty is a hurdle.

Payments giant Stripe launches support for crypto, NFTs

Financial services company Stripe has launched its crypto services, offering businesses the ability to use Stripe as a payment method for crypto and NFT transactions. Stripe is offering payout services for Web3 companies as well as know-your-customer (KYC) and fraud prevention. Currently, Stripe’s crypto services are only available to businesses in the US, UK, and European Union. 

Dubai adopts crypto law; looking to become a hub for Web3.0

Dubai has adopted its first law meant to regulate the operations of cryptocurrencies and digital assets like NFTs. Under the new law, the UAE wants to establish a Dubai Virtual Assets Regulatory Authority (VARA), which would regulate digital assets. The transfer of virtual assets, exchange services, and operating virtual assets platforms is also under the VARA’s domain.

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Biden Signs Executive Order on Digital Assets – Top Crypto News

Biden’s executive order on digital assets splits crypto industry and Bitcoin idealists

US President Biden recently signed an Executive Order on Ensuring Responsible Development of Digital Assets. The order seeks to find ways to mitigate risks to both individual consumers and the global financial system. It also aims to prevent the misuse of crypto for criminal activities.

Many within the crypto industry are optimistic it will lead to clearer regulations and a fair approach toward assets. Others argue the order lacks substance or is too focused on central bank digital currencies.

Crypto prices today: Bitcoin falls 5.4%, ETH down 4.8%

Bitcoin is currently trading at $39,328, an 5.4% decline over the previous day. Ethereum fell 4.8% over the last 24 hours to $2,591.91. Solana decreased by 6.7% to $82.5, while Cardano is down 4.13% to $0.805. Avalanche (AVAX) slumped 7.4% to $73.12. The global crypto market cap stands at $1.75 trillion, an 4.35% decline over the previous day.

Crypto is helping Ukraine amid Russia’s invasion, Says Deputy Minister

Ukraine’s Deputy Minister of Digital Transformation Alex Bornyakov noted that cryptocurrencies are helping Ukraine in the wake of Russia’s invasion. However, he does not believe crypto donations are playing a “major part” in Ukraine’s wider economy. Bornyakov also said that the total amount of crypto donations made to Ukraine is now close to $100 million.

Russia, Belarus sanctions extend to crypto: EU

The European Union (EU) has clarified that sanctions placed on Russia and Belarus extend to crypto assets. The EU said crypto-assets fall into the category of “transferrable securities”, and are clearly included in the scope of sanctions imposed on Russia.

Adobe taps Polygon to scale NFT functionality in Behance social platform

Software company Adobe is working with Polygon to integrate the Ethereum scaling program into its Behance social media platform. The integration will allow creators to showcase non-fungible tokens (NFTs) to the world while minimizing their carbon footprint and transaction fees. Adobe acquired Behance in December 2012. 

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Govt to Provide Stance on Crypto After Consultations – Top Crypto News

Govt to state stance on crypto after consultations: FM Sitharaman

Finance Minister Nirmala Sitharaman said the consultation process regarding crypto regulation is ongoing. She welcomed the crypto industry to participate in it. After completing the consultation process, the Finance Ministry would sit and examine the legal measures. The government is also reportedly seeing the possibility of tax revenue in crypto.

Crypto prices today: Bitcoin jumps 8.7%, ETH up 8%

Bitcoin is currently trading at $41,591, an 8.7% jump over the previous day. Ethereum rose 8.2% over the last 24 hours to $2,721.73. Solana increased by 6.6% to $88.3, while Cardano is up 5.8% to $0.84. Uniswap surged 11.12% to $9.32. The global crypto market cap stands at $1.83 trillion, an 6.8% increase over the previous day.

Joe Biden to order studies on regulating, issuing crypto: Report

As per reports, US President Joe Biden is expected to sign a long-awaited executive order on cryptocurrencies this week. The order will direct the Justice Department, Treasury, and other agencies to study the legal and economic ramifications of creating a US central bank digital currency.

Ethereum transaction fees drop to six-month low: Report

As per a report from Arcane Research, the seven-day average for Ethereum transaction fees are at their lowest rate since August 2021. The NFT mania contributed to an increase in transactions costs during late 2021. The fall in fees coincides with a decline in crypto asset prices. The exchange value of Ethereum has fallen nearly 12% in the last week.

Bored Ape Yacht Club donates $1M in Ethereum to Ukraine

The Bored Ape Yacht Club (BAYC) NFT collection has donated $1 million to Ukraine’s official Ethereum wallet address. BAYC’s Twitter account shared the information along with an Etherscan transaction link showing that it sent 388.999 ETH. The donation was inspired by its community members’ contributions.

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NFT to Support Ukraine Goes Viral – Top Crypto News

Russian national will use sales of her burning passport NFT to support Ukraine

Olive Allen, a Russian national and artist who has lived in the United States for more than 11 years, has burned her mother country’s passport in the hopes of raising awareness and funds related to the military conflict in Ukraine. The auction of her burning passport NFT went live on the SuperRare marketplace on Friday.

Crypto Prices today: Bitcoin is down by more than 3%

BTC is trading more than 3% in the red and Ethereum is more than 4% down. Meta Speed game price increased by 8 times over the last 24 hours.

The Sandbox Surpasses 2 Million Registered Users

Metaverse game The Sandbox has recently reached the 2 million registered users mark amid its play-to-earn season 2 Alpha launch.

Cointelegraph partners with Nitro Network to bring digital mining and decentralized internet to the masses

Cointelegraph has partnered up with Nitro Network, to pioneer the future of a decentralized internet through the Non-Fungible Miner. NFMs are a unique innovation — an NFT that provides all users the ability to digitally mine Nitro’s native token, NCash, from anywhere in the world. 

Waves risks ‘death cross’ plunge after price rallies 88% in six days

A major rally in Waves’ price this week that saw it nearly double risks faltering in the coming sessions due to a “death cross” technical pattern. A death cross measure appears when an asset’s long-term moving average closes above its short-term moving average.

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NFT Market Cools in Feb as Trading on Ethereum Dips – Top Crypto News

NFT market cools in Feb as trading on Ethereum & Solana dips

Trading volume across the wider NFT market cooled down in February after a record-shattering month of NFT trading volume in leading marketplace OpenSea in January. OpenSea recorded nearly $3.65 billion worth of trading volume in February between NFT sales on Ethereum and Polygon. The data from Dune Analytics shows an approximate 27% month-on-month dip in trading volume on OpenSea in Feb.

Crypto prices today: Bitcoin down 4.8%, ETH falls 6.5%

Bitcoin is currently trading at $41,371, a 5% decline over the previous day. Ethereum fell 6.46% over the last 24 hours to $2,723.47. Solana crashed 8.5% to $91.86, while Cardano is down 6% to $0.87. Polygon (MATIC) declined by 5.12% to $1.54. The global crypto market cap stands at $1.83 trillion, an 4.34% decline over the previous day.

EU ‘taking measures’ to prevent Russia evading sanctions with crypto: Le Maire

The European Union (EU) is set to crack down on Russia’s ability to evade economic sanctions using crypto, said France’s Finance Minister Bruno Le Maire. “We are taking measures, in particular on cryptocurrencies or crypto assets which should not be used to circumvent the financial sanctions decided upon by the 27 EU countries,” he reportedly said.

Ethereum’s Infura cuts off users to separatist areas in Ukraine

Users of two ConsenSys software products in Venezuela, MetaMask and Infura, found themselves cut off from the Ethereum network. Many reported they had been blocked from their wallets. However, the blockade wasn’t meant for them. It was the result of adding IP addresses from two separatist regions in Ukraine: Donetsk and Luhansk. Infura, which hosts Ethereum nodes, says the problem was accidental and has been resolved. 

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Fed Chair Calls For Legal Action on Crypto – Top Crypto News

Fed Chair calls for congressional action on crypto amid Ukraine-Russia conflict

Federal Reserve Chairman Jerome Powell said there is a growing need for crypto regulations during testimony before the House Financial Services Committee. He said recent events in Ukraine have “underscored the need for Congressional action on digital finance, including cryptocurrencies.”

Crypto prices today: Bitcoin down 1%, ETH falls 1.7%

Bitcoin is currently trading at $43,451.8, a 1% decline over the previous day. Ethereum fell 1.7% over the last 24 hours to $2,915.5. Solana fell 2.7% to $99.7, while Cardano is down 3.5% to $0.92. Polygon (MATIC) declined by 1.16% to $1.61. The global crypto market cap stands at $1.90 trillion, an 1.87% decline over the previous day.

Ukraine now accepts Dogecoin donations amid Russian invasion

Ukraine is now accepting Dogecoin donations, said Vice Prime Minister Mykhailo Fedorov. This is the latest crypto-related move on behalf of the Ukrainian government to raise funds amid Russia’s invasion. Last week, the government’s official Twitter account shared Bitcoin and Ethereum addresses when it announced Ukraine would accept crypto donations.

SEC targets NFT creators, marketplaces over ICO-like sales: Report

According to a Bloomberg report, the US Securities and Exchange Commission (SEC) is probing NFT creators and marketplaces for regulatory violations. The probe is looking into whether NFTs are being utilized to raise money like traditional securities. The SEC has reportedly sent subpoenas related to the investigation. It is particularly interested in information about fractional NFTs.

US Treasury to monitor crypto, for sanctions evasion

In response to a letter from 4 Senate Democrats raising concerns about crypto’s potential use by Russia to avoid sanctions, Treasury Secretary Janet Yellen has said that the US will monitor the situation. The department would make sure crypto couldn’t be used to bypass sanctions against Russia.

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Ukrainians Buy Record Sums of Crypto on Binance – Top Crypto News

Ukrainians buy record sums of crypto on Binance after Russian invasion

Ukrainian citizens are buying record sums of Bitcoin to protect their holdings as they hold off an attack from Russia. An Arcane Research report showed Ukrainians were using crypto exchange Binance to buy stablecoin Tether and Bitcoin with the hryvnia. (One Ukrainian hryvnia currently is worth about $.033). Data shows that 24-hour Tether-hryvnia trading volume shot up from $6 million right before the invasion to ~$8.5 million.

Crypto prices today: Bitcoin rises 1.8%, ETH up 2.6%

Bitcoin is currently trading at $44,200, a 1.75% increase over the previous day. Ethereum rose 2.6% over the last 24 hours to $2,996.87. Solana jumped 8% to $104.1, while Cardano is down 0.1% to $0.96. Polygon (MATIC) is up 2.9% to $1.64. The global crypto market cap stands at $1.94 trillion, an 1.6% increase over the previous day.

US can regulate crypto without new law, says think tank

According to the Center for American Progress (CAP), US regulators can use existing laws to bring digital assets such as cryptocurrencies under their supervision without new congressional legislation. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) could use the CAP report to inform their decisions on how to govern crypto.

18% of super-rich Indians invested in cryptos, NFTs in 2021: Report

According to Knight Frank’s Wealth Report, ~18% of Indian ultra high-net worth individuals (UHNWIs) invested in crypto assets in 2021 amidst rising popularity of crypto and non-fungible tokens (NFTs). UHNWIs are those who have a net worth of $30 million (about Rs 226 crore) or more. The global value of crypto assets was $2.4 trillion at the end of 2021, a 12-fold increase since early 2020.

Crypto exchange Bitbns to roll out IC15 index products

CryptoWire and Bitbns exchange have entered into an agreement for listing IC15, India’s first global crypto index. Trading of IC15 on Bitbns exchange will begin from April 1, 2022. CryptoWire claims to be a global crypto super app, while Bitbns is a homegrown crypto exchange.

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Ruble-Denominated Bitcoin Volume Surges to 9-Month High – Top Crypto News

Ruble-denominated Bitcoin volume surges to 9-month high

Trading volumes between the Russian Ruble and Bitcoin increased to a nine-month high as the country’s fiat currency fell to record lows. This is due to the fallout of Russia’s invasion of Ukraine. Ruble (RUB)-denominated bitcoin volume surged to nearly 1.5 billion RUB on Thursday, hitting its highest level since May. The spike in trading volumes came as investors scrambled to move out of the Ruble, fearing stricter sanctions from western countries.

Crypto prices today: Bitcoin surges 14%, ETH rises 11.5%

Bitcoin is currently trading at $43,439, a 14% jump over the previous day. Ethereum rose 11.6% over the last 24 hours to $2,918.7. Solana rallied 11.45% to $96.86, while Cardano is up 11% to $0.96. Polygon (MATIC) is up 9.9% to $1.6. The global crypto market cap stands at $1.91 trillion, an 11.5% increase over the previous day.

Israeli Defence Ministry seizes crypto wallets linked to Hamas funding

The Israeli Defence Ministry has seized digital wallets containing cryptocurrency allegedly intended to fund the terrorist group Hamas. Defence minister Benny Gantz signed a seizure order for 30 wallets containing tens of thousands of shekels linked to 12 digital accounts.

eBay could soon permit Bitcoin, Ethereum, and Altcoin payments

Multinational e-commerce giant eBay is reportedly looking into accepting cryptocurrency as a means of payment. eBay accepting cryptos like Bitcoin and Ethereum could further aid mainstream adoption. Since Gen-Z is a priority target for eBay, CEO Jamie Iannone believes the evolving technology could be used to cater to the masses.

‘In crypto sector, India has potential to counter western power’: IIM Bangalore Professor

“The potential of crypto as decentralized finance is over and India should focus on creating a national blockchain strategy to make it a global player”, said IIM Bangalore professor A. Damodaran. He added that a large base of crypto-owning Indians could create multiple, technologically competent enterprises in the blockchain space. If played well, India could emerge as a major countervailing force to the crypto power of the West.

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Ukraine Raises $10 million in Crypto Donations – Top Crypto News

Ukraine raises $10 million in crypto donations

According to CNBC, Ukraine’s government has raised more than $10 million in cryptocurrency donations. The official Twitter account of the Ukrainian government had posted addresses for two crypto wallets: one accepting only bitcoin and the other taking Ether and Tether. About $1.86 million of the money donated to the government was generated through the sale of non-fungible tokens (NFTs). The development shows how Ukraine is turning to crypto for assistance during Russia’s military aggression.

Crypto prices today: Bitcoin falls 1.2%, ETH down 3.6%

Bitcoin is currently trading at $38,342, a 1.27% decline over the previous day. Ethereum fell 3.6% over the last 24 hours to $2,641.40. Solana fell 0.7% to $88.4, while Cardano is up 0.3% to $0.88. Polygon (MATIC) is down 1.76% to $1.47. The global crypto market cap stands at $1.73 trillion, a 1.92% increase over the previous day.

Blockchain-based storage app ArDrive raises $17.2 million

ArDrive, a blockchain-based permanent storage application, has raised ~$17.2 million in a seed round of 13 investors. The application houses over 6 million files from across the globe, including text, articles, photos, and videos. ArDrive allows users to maintain ownership and control of their data on the Arweave blockchain.

Ukraine asks exchanges to freeze Russian, Belarusian crypto accounts

Ukraine’s Vice Prime Minister Mykhailo Fedorov has asked all major crypto exchanges to block the addresses of Russian users. Dmarket, a Ukrainian-born digital assets company that works as a crypto exchange, has accepted the request. Fedorov explained that it is crucial to freeze not only the addresses linked to Russian and Belarusian politicians but also to sabotage ordinary users.

Crypto trading platform CoinSwitch rolls out recurring buy plan

CoinSwitch has rolled out a recurring buy plan in order to simplify investments in digital assets, making them systematic and disciplined. The new facility will enable users to beat market volatility and avoid making impulsive buying or selling decisions. It lets users keep aside a fixed sum to buy crypto assets each month over a long period of time. 

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China’s Crypto Crackdown Strengthens – Top Crypto News

China’s crypto crackdown strengthens with potential fines, jail sentences

China’s years-long crackdown on crypto has stepped up another level. A new Supreme Court ruling paves the way for fines and potentially lengthy jail sentences for citizens found guilty of fundraising via crypto tokens. China previously banned crypto fundraising in 2017 amid the global surge in initial coin offerings (ICOs). 

Crypto prices today: Bitcoin rises 11%, ETH up 12%

Bitcoin is currently trading at $38,552, an 11.25% increase over the previous day. Ethereum jumped 12.9% over the last 24 hours to $2,622.29. Solana rose 12% to $88.79, while Cardano is up 12.5% to $0.84. Polygon (MATIC) rallied 15% to $1.44. The global crypto market cap stands at $1.72 trillion, a 10.6% increase over the previous day.

Coinbase posts record revenue, user numbers in Q4 

Crypto exchange platform Coinbase made nearly $2.5 billion in revenue last quarter (Q4 CY21), while its monthly active user base rose to 11.4 million. The company posted a profit of $840 million in Q4, which was double the previous one. The impressive numbers were driven by record-high crypto prices last October and November.

Bitcoin mining in Russia largely unaffected amid Ukraine invasion

Bitcoin mining in Russia remains mostly steady amidst the country’s invasion of Ukraine. Crypto industry participants are constantly checking for any disruptions to the network. However, sanctions imposed by various countries could affect miners. Bitcoin miners come into regular contact with exchanges and other entities connected to the traditional financial system as they exchange BTC for cash. 

Over half of the Bitcoin network’s computing power comes from the US, Kazakhstan, and Russia.

Russia could use crypto to blunt the force of US sanctions: Report

As per reports, Russian entities are preparing to blunt/weaken some of the worst effects of economic sanctions by making deals with anyone around the world willing to work with them. They can use digital currencies to bypass the control points that governments rely on (mainly transfers of money by banks) to block deal execution. As per estimates, sanctions imposed by Western nations cost Russia $50 billion a year.