Category: Top Crypto News

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Mexico Senator Proposes Bitcoin Legal Tender Bill – Top Crypto News

Mexico Senator proposes Bitcoin legal tender bill

Indira Kempis, a senator from Nuevo Leon in Mexico, wants to make her country the second in the world to adopt Bitcoin as legal tender. She is working on a proposal for a crypto-friendly legal framework. The legislator praised Bitcoin’s attributes as an inclusive currency that benefits the unbanked.

Crypto prices today: Bitcoin falls 9%, ETH down 13%

Bitcoin is currently trading at $34,752, an 8.85% decline over the previous day. Ethereum fell sharply by 12.9% over the last 24 hours to $2,323.5. Solana fell 9.2% to $79.35, while Cardano tanked 16.5% to $0.76. Polygon (MATIC) crashed 15% to $1.27. The global crypto market cap stands at $1.56 trillion, a 9.89% decline over the previous day. This slump in the crypto market was in sync with a global market retreat triggered by Russia’s move to launch military action on Ukraine.

Ethereum founder Vitalik Buterin calls Russia invasion a ‘crime’

Ethereum co-founder Vitalik Buterin said Russia’s invasion of Ukraine is a crime against the Ukrainian and Russian people. He wrote: “Very upset by Putin’s decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead.” Earlier this month, Buterin appealed to Putin to de-escalate a conflict of Russia’s own making.

Solana, Pantera Capital, NBA owners invest in NFT fantasy basketball game

Fast Break Labs, a Web3 startup, announced a $6 million seed round led by early-stage venture firms Pantera Capital and Patron. The company will use the money to develop its fantasy league, the Virtual Basketball Association. The game let players trade NFT collectibles of digitally created players. Solana Ventures and owners of NBA teams joined the seed round.

RBI’s views might have delayed crypto bill: Deputy Governor Patra

RBI Deputy Governer Michael Patra said the central bank’s views on crypto might have delayed the government’s proposed legislation on crypto assets. He said India will proceed very gradually on the subject. There are concerns on privacy, crypto’s impact on monetary policy formulation and energy intensity. The RBI is in favour of a complete ban on the speculative assets.

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ASCI Issues Guidelines for Crypto, NFT Ads – Top Crypto News

ASCI issues guidelines for crypto, NFT ads in India

The Advertising Standards Council of India (ASCI) has laid out specific guidelines for advertisements related to virtual digital assets. Ads must now include the disclaimer “Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions”. The guidelines will be applicable to all ads released on or after April 1, 2022.

Crypto prices today: Bitcoin up 3.65%, ETH rises 6%

Bitcoin is currently trading at $38,063, a 3.65% increase over the previous day. Ethereum rose 5.9% over the last 24 hours to $2,667. Solana jumped 8.56% to $89.36, while Cardano rose 9.4% to $0.91. Polygon (MATIC) surged 9.4% to $1.52. The global crypto market cap stands at $1.73 trillion, a 4.38% increase over the previous day.

Coinbase adds support for ledger hardware wallets

Crypto exchange Coinbase announced the support for Ledger, a popular crypto hardware wallet. The Ledger wallet integration is now available through the Coinbase wallet browser extension. Hardware wallets are physical devices designed to store users’ private keys offline instead of keeping them online.

UK law firm becomes first to accept crypto as payment

UK law firm Gunnercooke announced that it is now accepting cryptocurrency as payment for legal and professional services. The firm is partnering with crypto-asset exchange Coinpass to facilitate the exchange of cryptocurrency. Gunnercooke, which has 10 offices spanning across the UK and Germany, has a client base of around 100 crypto developers, platforms, and exchanges.

Solana NFTs Now on Sale in NYC Vending Machine

Solana-based NFT marketplace NEON allows users to buy NFTs at a 24-hour vending machine in New York City. Collectors can buy NFTs with credit or debit cards or Samsung Pay or Apple Pay. Upon purchase, buyers need to scan the QR code of the item and claim the NFT online. 

‘Frozen’ Bitcoin Tied to Canadian Protests Lands at Coinbase, Crypto.Com

According to Blockchaindata.com, crypto tied to the Canadian truckers protesting against Covid-19 restrictions has been on the move. Nearly all of the roughly 20 BTC (~$788,000 at current exchange rates) sent to the Tallycoin fundraiser is gone from the address. About 0.14 BTC each ended up at two centralized exchanges, Coinbase and Crypto.com.

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Russia Proposes New Bill to Regulate Bitcoin Mining – Top Crypto News

Russia proposes new crypto bill to regulate bitcoin mining

Russia’s Ministry of Finance has come up with the country’s first draft bill on the regulation of Bitcoin and other cryptocurrencies. While the central bank continues to demand a blanket ban on crypto mining in Russia, the Finance Ministry aims to regularise the sector with the newly proposed bill. The bill treats crypto as an investment tool and not a legal tender. It states that cryptos may not be used to pay for goods and services. 

Crypto prices today: Bitcoin falls 6%, ETH tanks 8%

Bitcoin is currently trading at $36,819, a 6% decline over the previous day. Ethereum has fallen sharply by 7.9% over the last 24 hours to $2,522. Solana crashed 13.5% to $82.37, while Cardano is down 14.5% to $0.83. Polygon (MATIC) has tanked 13.3% to $1.38. The global crypto market cap stands at $1.65 trillion, a 7.36% decline over the previous day.

Universal Music to develop collectible NFTs in deal with Curio platform

Universal Music Group has entered into a partnership with NFT platform Curio to develop NFT collections for its record labels and artists. The deal is a major move into a potentially new revenue stream by the world’s largest music company. Universal plans to work with Curio to develop digital artwork and other collectibles for the company and its artists. 

Joe Biden to issue executive order on crypto this week

As per a report from Yahoo News, US President Joe Biden is expected to issue an executive order on cryptocurrency this week. The order will direct a wide range of government agencies to study crypto and central bank digital currency (CBDC). It will also come up with a government-wide strategy to regulate crypto assets.

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OpenSea Probes NFT Phishing Attack – Top Crypto News

OpenSea CEO dismisses $200M hack rumor

Opensea CEO, Devin Finzer, has denied rumors that the NFT marketplace’s codebase was breached and that attackers had stolen $200 million. According to Finzer, an investigation had shown that the attacker had $1.7 million worth of Ethereum in his wallet by leveraging a phishing scheme. More than 30 users that “signed a malicious payload from an attacker” had their NFTs stolen.

Crypto prices today: Bitcoin rises 1%, ETH up 3.8%

Bitcoin is currently trading at $39,227, a 1.1% increase over the previous day. Ethereum is up 3.8% over the last 24 hours to $2,748.32. Solana has rallied 10% to $95.32, while Cardano jumped 3% to $0.97. Polygon (MATIC) rose 3.5% to $1.6. The global crypto market cap stands at $1.78T, a 2.02% increase over the previous day.

DBS Bank plans to launch crypto trading services for retail customers

DBS Bank CEO Piyush Gupta announced that the bank plans to launch crypto trading for retail investors this year. The bank will work on making digital assets very easily accessible in the first half of 2022. DBS Bank Ltd is a Singaporean multinational banking and financial services and the largest bank in Southeast Asia in terms of assets.

7 arrested in Rs 40 crore crypto investment fraud In Maharashtra

The number of arrests in the Rs 40 crore cryptocurrency fraud in Nagpur reached 11 on Sunday. A police officer said that the main accused, Nishid Wasnik, used to flaunt his luxurious lifestyle to get people to invest in a firm that he claimed was dealing in Ether. Over 2,000 investors were duped.

Ethereum founder Buterin says Crypto ‘welcomes’ another winter

Vitalik Buterin, co-founder of the Ethereum blockchain, says the crypto universe may benefit from the current retreat in coin prices that’s spooking investors. It is being referred to as another crypto winter. “The people who are deep into crypto, and especially building things, a lot of them welcome a bear market,” Buterin said during an interview with Bloomberg. 

“They welcome the bear market because when there are these long periods of prices moving up by huge amounts like it does— it does obviously make a lot of people happy. But it does also tend to invite a lot of very short-term speculative attention,” he said.

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FBI Forms New Crypto Crimes Unit – Top Crypto News

FBI forms new crypto crimes unit

The United States Federal Bureau of Investigation (FBI) has launched a Virtual Asset Exploitation Unit focused on crypto-related crimes. The unit will be a specialized team of cryptocurrency experts dedicated to providing analysis, support, and training across the FBI. It will also innovate its cryptocurrency tools to stay ahead of future threats. 

Crypto prices today: Bitcoin slumps 7%, ETH down 5.9%

Bitcoin is currently trading at $40,751, a 6.95% decline over the previous day. Ethereum is down 5.9% over the last 24 hours to $2,908.84. Solana fell 5% to $95.2, while Cardano is down 3.7% to $1.04. Polygon (MATIC) has fallen sharply by 6.5% to $1.71. The global crypto market cap stands at $1.90 trillion, a 3.52% decline over the previous day. Much of the market is red right now amid geopolitical tension and increased law enforcement scrutiny on crypto.

Sequoia Capital to Invest Up to $600 million in crypto startup tokens

Venture capital firm Sequoia Capital has announced the launch of a crypto-dedicated fund that will invest up to $600 million in digital assets. The fund will actively manage its assets, generating yield through token staking and participating in DAO governance votes. The new fund follows the last announcement that Sequoia would combine all of its US and European investments into one fund.

Ukraine legalises crypto amid soaring tensions with Russia

Ukraine legalised cryptocurrencies on Thursday even as its tensions with Russia have agitated global markets in the past week due to global concerns over the prospect of a wider war. Bitcoin donations have soared to Ukrainian volunteer and hacking groups, some of which have supplied equipment to government forces. Ukraine is already amongst the top-5 countries that use cryptocurrency.

Spain’s central bank licenses Bit2Me to be country’s first crypto services provider

Bit2Me, a leading Spanish crypto exchange, has obtained approval from the Bank of Spain to be the first provider of services for the exchange of virtual currency for fiat currency and the custody of digital wallets. It will now be able to provide Spanish-based banks with a white-label service allowing crypto trading on their platforms.

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Red Bull Racing Signs $150M Sponsorship With Bybit – Top Crypto News

Red Bull Racing signs $150M sponsorship with Bybit

Formula 1 team Oracle Red Bull Racing has signed a record-breaking sponsorship deal with crypto exchange Bybit. The team revealed that the 3-year sponsorship deal, reportedly worth $150 million, represents the single largest per-annum crypto venture yet seen in international sport.

Crypto prices today: Bitcoin falls 0.5%, ETH down 1.5%

Bitcoin is currently trading at $43,815, a 0.5% decline over the previous day. Ethereum is down 1.5% over the last 24 hours to $3,090. Solana fell 2.8% to $100.11, while Cardano is down 2.2% to $1.08. Polygon (MATIC) is up 0.3% to $1.82. The global crypto market cap stands at $1.97 trillion, a 0.78% decline over the previous day.

El Salvador’s Bitcoin adoption may pose risks to US financial system: US Senators

US Senators have introduced legislation requiring the State Department to write a report on El Salvador’s Bitcoin law and develop a plan to “mitigate potential risks to the US financial system”. In a press release, the senators said El Salvador’s Bitcoin Law raises significant concerns. Their proposed legislation gives the State Department 60 days to produce a report on the Central American country’s adoption of Bitcoin, should the bill pass.

Over 4,000 ‘criminal whales’ hold $25 billion worth of crypto: Report

A report from Chainalysis revealed that 4,068 “criminal whales” hold $25 billion worth of cryptocurrency. The firm defines criminal crypto whales as any private wallet that holds $1 million or more of crypto and has received 10% or more of those funds via illicit addresses. At the end of 2021, funds that came from illicit sources stood at $11 billion. The figure stood at $3 billion at the end of 2020.

Berkshire Hathaway’s Charlie Munger compares crypto to ‘venereal disease’

Charlie Munger, the Vice Chairman of Berkshire Hathaway, said he wished cryptocurrencies had been banned from the start. “I certainly didn’t invest in crypto. I’m proud of the fact I’ve avoided it. It’s like a venereal disease or something. I just regard it as beneath contempt.”, said the legendary investor.

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Mastercard to Offer Crypto and NFT Consulting Services – Top Crypto News

Mastercard to offer crypto and NFT consulting services

Mastercard announced that it is adding payments-focused consulting services for crypto and digital currencies. It may also eventually help develop central bank digital currencies (CBDCs). The financial services giant said its new offerings for banks and merchants will cover everything from cryptocurrency, NFT strategy, crypto cards to loyalty programs.

Crypto prices today: Bitcoin up 1%, ETH rises 3.4%

Bitcoin is currently trading at $44,008, a 1% rise over the previous day. Ethereum is up 3.4% over the last 24 hours to $3,133. Solana rose 1.5% to $102.83, while Cardano is up 2.8% to $1.10. Polygon (MATIC) jumped 5% to $1.81. The global crypto market cap stands at $1.99 trillion, a 2.03% increase over the previous day.

Russian Ministry pushes to legalize Bitcoin mining in some areas

Russia’s Ministry of Economic Development has greenlighted the concept of crypto mining regulation in the country. It is proposing to allow mining operations in areas with “sustainable surplus in electricity generation.” As part of the proposal, the ministry suggested introducing lower fees for setting up mining farms and data centers in specific Russian regions.

SEC investigating trading firms linked to Binance founder: Report

As per a report from The Wall Street Journal, The US Securities and Exchange Commission is looking into the connection between crypto exchange Binance US and two trading firms linked to Binance founder Changpeng “CZ” Zhao—Sigma Chain AG and Merit Peak Ltd. The agency is looking into the nature of Zhao’s involvement and whether the relationships were properly disclosed to customers. 

NYSE files trademark application for its own NFT marketplace

The New York Stock Exchange (NYSE) has filed an application with the US Patent and Trademark Office (USPTO) to provide an online marketplace for NFTs, cryptocurrencies, digital media and artwork.

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BlockFi to Pay Largest SEC Fine Ever – Top Crypto News

BlockFi to pay largest SEC fine ever for a crypto case

Crypto lending platform BlockFi has settled with the US Securities and Exchange Commission (SEC) over charges the company allegedly offered interest accounts without registering them under the Securities Act. The company will pay $100 million in penalties, including $50 million to settle charges from 32 states. This is the largest penalty ever assessed in a crypto enforcement action.

Crypto prices today: Bitcoin up 3.2%, ETH rises 5.5%

Bitcoin is currently trading at $43,589, a 3.2% increase over the previous day. Ethereum has surged 5.5% over the last 24 hours to $3,030. Solana rose 7% to $101.4, while Cardano is up 3.6% to $1.07. Polygon (MATIC) rose 5.7% to $1.72. The global crypto market cap stands at $1.95 trillion, up 3.96% over the previous day.

UK Tax Authorities seize 3 NFTs involved in $1.8M fraud investigation

According to BBC, Her Majesty’s Revenue and Customs (HMRC) has seized three NFTs as part of a wider investigation concerning VAT (goods and services tax) fraud. This is the first time HMRC has seized an NFT. The deputy director of economic crime, Nick Sharp, said this example “serves as a warning to anyone who thinks they can use crypto assets to hide money from HMRC”.

Indian crypto enthusiasts seek reassessment of new taxes

The representatives of India’s crypto industry have appealed to the government to re-examine the budget proposal to impose a tax deducted at source (TDS) on cryptos, citing it will be difficult to comply with. They have also sought clarity on transactions with residents of a country with which India has a double taxation avoidance agreement.

Crypto worse than Ponzi schemes, banning them advisable: RBI Deputy Governor

Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar said that banning crypto is the most advisable choice for India. He stated that crypto is akin to Ponzi schemes and “may even be worse”. “There are strong reasons to keep them away from the formal financial system,” he added.

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RBI on Board With New Crypto Rules, Says FM – Top Crypto News

bitcoin crosses $50000

RBI, govt working in complete harmony on crypto: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Monday said that there was complete harmony between her department and the Reserve Bank of India (RBI) on all matters including cryptocurrencies. She added that there is respect towards each other’s domain and priorities keeping national interest in mind. The Finance Minister had announced in her Budget speech that the RBI will launch a blockchain-based cryptocurrency next year.

Crypto prices today: Bitcoin falls 0.8%, ETH down 2%

Bitcoin is currently trading at $42,057, a 0.74% decrease over the previous day. Ethereum is down 2.15% over the last 24 hours to $2,860. Solana fell 3% to $93.8, while Cardano is down 2.75% to $1.03. Polygon (MATIC) slumped 5.8% to $1.61. The global crypto market cap stands at $1.87 trillion, a 1.75% decline over the previous day.

Block, Argo, and Griid among first buyers of Intel’s new blockchain accelerators

Intel is planning to release blockchain accelerators later this year and has lined up some big-name buyers. Among its first customers for the accelerators, which help facilitate energy-efficient crypto mining, are Block (formerly Square), Argo Blockchain, and the crypto mining startup Griid Infrastructure.

Israel’s Securities Regulatory chief lays out crypto plans

The Israel Securities Authority (ISA) has announced plans to regulate the country’s fintech space. It is looking to attract blockchain-based solutions that can improve the infrastructure supporting the securities and sovereign debt markets in Israel with a fintech hackathon. The ISA plans to start gathering the expertise and influence needed to regulate the fintech and the crypto sector more broadly.

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Crypto Taxation Sovereign Right, Says FM – Top Crypto News

Not doing anything to legalise or ban crypto at this stage: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Friday said that banning or not banning crypto will come subsequently after consultations. “The government has sovereign right to tax profit made from crypto transactions, and the decision on banning or not banning will be taken based on feedback from consultations. I’m not doing anything to legalise or ban cryptocurrencies at this stage. We have only taxed the profit emanating from the transactions,” she said.

Crypto prices today: Bitcoin falls 1.5%, ETH down 3.2%

Bitcoin is currently trading at $43,311, a 1.5% decrease over the previous day. Ethereum is down 3.15% over the last 24 hours to $3,085. Solana fell 6% to $105.5, while Cardano is down 2.19% to $1.15. Polygon (MATIC) slumped 5.8% to $1.86. The global crypto market cap stands at $1.97 trillion, a 2.14% decline over the previous day.

Ransomware payments in Bitcoin and other crypto hit $600M in 2021: Chainalysis

According to a preview of the Chainalysis 2022 Crypto Crime Report, it’s identified $602 million in ransomware payouts for 2021. This is compared to $692 million for 2020. The Russian-based group Conti was the biggest ransomware strain last year in terms of revenue. Using a ransomware-as-a-service model (RaaS), Conti operators extorted over $180 million from their victims. 

Twitter CEO sees ‘incredible amount of developer energy’ in Web3

Twitter CEO Parag Agrawal spoke about Web3 on the Twitter Q4 earnings call. “If you think about the broader crypto ecosystem, which includes crypto, DeFi projects, and all the decentralized technology and applications being built on top of the biggest blockchains, what you notice is this incredible amount of developer energy—developer energy which is interested in solving problems”, he said.

YouTube eyeing the ‘incredible potential’ of NFTs and Web3 for future products

YouTube’s Chief Product Officer Neal Mohan published a blog post about the company’s upcoming plans for new products and features in 2022. He has cited an interest in Web3, blockchain, and NFTs. In his post, Mohan hinted at future Web3 integrations, citing the potential for NFTs to “allow creators to build deeper relationships with their fans” and further monetize their YouTube content.

RBI governor asserts caution on crypto

Reserve Bank of India (RBI) Governor Shaktikanta Das has once again voiced serious concerns against private cryptos. “Cryptocurrency is privately created and it is a threat to financial stability,” he said yesterday. He stated that investors should also keep in mind that crypto has no underlying, “not even a tulip”. The RBI chief was referring to the Dutch tulip bulb market bubble in the 17th century.

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Russia Expected to Regulate Crypto Like Foreign Currencies – Top Crypto News

Russia expected to regulate crypto like foreign currencies: Report

The Russian government and the country’s central bank have reached an agreement on how to regulate Bitcoin and other cryptos. Russia plans to recognize digital assets as a form of currency. “The circulation of such financial assets will be regulated by the state with strict obligations for all participants in the professional market and an emphasis on protecting the rights of ordinary investors,” reads the document published on the government site. The new legislation would bring cryptocurrencies into the same regulatory framework as foreign currencies.

Crypto prices today: Bitcoin up 0.6%, ETH up 2.8%

Bitcoin is currently trading at $43,971, a 0.6% increase over the previous day. Ethereum is up 2.8% over the last 24 hours to $3,187. Solana rose 0.6% to $112.02, while Cardano is down 0.5% to $1.18. Polygon (MATIC) is up 2.5% to $1.98. The global crypto market cap stands at $2.01 trillion, a 1.47% increase over the previous day.

Wells Fargo report argues its not ‘too late to invest’ in crypto

Banking giant Wells Fargo has published a report that says it is not too late to purchase Bitcoin and other cryptocurrencies. The report, titled “Understanding Cryptocurrency” contends with common investor arguments surrounding Bitcoin and the wider crypto markets. These include claims that investors are “too early” or “too late” to participate, while the report also considers the impact of early technology adoption.

Gucci buys land in Ethereum game The Sandbox to create Metaverse experiences

Designer clothing brand Gucci bought an undisclosed amount of virtual land on the decentralized blockchain game The Sandbox. It will create themed experiences on The Sandbox inspired by its “Gucci Vault” platform, which lists items like Gucci-themed NFTs and vintage bags. Gucci also will be releasing fashion items for Sandbox players to purchase and wear in the game’s virtual reality.

Bitcoin trades more like risk asset than inflation hedge: Bank Of America

While Bitcoin’s supply cap of 21 million could make it perfect to hold as an inflation hedge or store of value, the cryptocurrency has traded increasingly as a risk asset since July, Bank of America said in a research note. The digital asset’s volatility has fallen from the highs seen in 2013, but it remains elevated relative to the S&P 500.

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US DOJ Seizes $3.6B Worth of Bitcoin Linked to 2016 Hack – Top Crypto News

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US DOJ seizes $3.6 billion worth in Bitcoin linked to 2016 Bitfinex hack

The US Department of Justice (DOJ) has launched what seems to be the largest financial seizure ever related to cryptocurrencies. According to The Washington Post, authorities seized $3.6 billion worth of digital assets linked to a hack on crypto exchange Bitfinex in 2016. Nearly 119,754 Bitcoin (BTC) were stolen in the hacking incident, where the threat actors deployed a series of 2,000 unauthorized transactions.

Crypto prices today: Bitcoin, ETH down 2.7%

Bitcoin is currently trading at $43,571, a 2.72% decline over the previous day. Ethereum is down 2.7% over the last 24 hours to $3,091. Solana fell 5.7% to $110.93, while Cardano is down 3.7% to $1.18. Polygon (MATIC) fell 2.9% to $1.92. The global crypto market cap stands at $1.99 trillion, a 2.37% decline over the previous day.

DeFi project Aave launches decentralised social media platform on Polygon

DeFi platform Aave has announced the launch of Lens Protocol, a decentralised social media platform built on the Polygon blockchain. The open-source “Web3, smart contracts-based social graph” is based on an ecosystem of dynamic non-fungible tokens (NFTs). Users can create NFT-based profiles that contain the history of all posts, mirrors, comments, and other content they generate.

JPMorgan estimates Bitcoin’s ‘fair value’ at $38,000, 12% below current price

According to JPMorgan Chase & Co. strategists, Bitcoin’s “fair value” is around 12% below the current price based on its volatility in comparison with gold. The strategists calculated the fair-value level at ~$38,000 based on Bitcoin being roughly four times as volatile as gold.


PayPal forms crypto advisory council

PayPal has formed an advisory council to support crypto-related products and help guide the company on creating a digital financial system. In early January, the payments giant confirmed it is exploring the possibility of releasing its native stablecoin.