Tag: crypto news

US SEC rejects Fidelity’s Bitcoin spot ETF

The US Securities and Exchange Commission (SEC) has rejected investment firm Fidelity’s Spot Bitcoin exchange-traded fund (ETF). Over the past few months, the SEC has raised concerns around crypto-related frauds, manipulation, and investor protection.

Crypto prices today: Bitcoin rises 2.5%, ETH up 1.2%

Bitcoin is currently trading at $37,064, a 2.5% increase over the previous day. Ethereum rose 1.2% over the last 24 hours to $2,433. Solana is up 2.5% to $91.2, while Cardano has fallen by 0.85% to $1.04. Polygon (MATIC) has surged 6.4% to $1.65. The global crypto market cap stands at $1.67 trillion, a 2.77% increase over the previous day.

Warner Music plots Metaverse concerts in Ethereum game The Sandbox

Warner Music Group (WMG) is planning a future of virtual concerts within the metaverse. The company has partnered with the upcoming Ethereum game The Sandbox to open a music-themed area within the shared online game world. The record label will use its virtual LAND plots in the game to create a space that serves as both a music-centric amusement park and a venue for concerts by its artists.

Draft bill to give US Treasury power to ban crypto exchanges: Report

As per a report from crypto-centric think tank Coin Centre, the draft version of the America COMPETES Act of 2022 indicated that the Treasury Secretary will get the power to shut down cryptocurrency exchanges. The draft bill advanced out of the House Committee on Science, Space, and Technology earlier this week. The bill applies to all regulated financial institutions in the US and is designed to counter international money laundering.

Bitcoin worth $670M leaves exchanges after hawkish comments by US Fed

Blockchain data provided by Glassnode revealed that more than 18,000 Bitcoin (worth ~$670 million) left centralized exchanges on Thursday, registering the biggest single-day net outflow in over a month. Crypto investors have stepped up Bitcoin accumulation amidst prospects of faster interest-rate hikes from the US Federal Reserve. Increased outflows could signify lower coins available for sale on exchanges and a better chance of the market going up.

Meta Platforms’ crypto venture to wind down and sell tech assets: Report

As per a Wall Street Journal report, Meta Platforms, Inc’s digital currency venture Diem Association is winding down and selling its technology to California-based Silvergate Capital Corp for ~$200 million. Meta (formerly Facebook) first unveiled plans for Diem in June 2019 as part of an effort to expand beyond social networking into e-commerce and global payments.

Crypto prices today: Bitcoin falls 2.7%, ETH down 1.9%

Bitcoin is currently trading at $36,233, a 2.7% decline over the previous day. Ethereum fell 1.9% over the last 24 hours to $2,413. Solana is down 5.4% to $89.54, while Cardano is up 0.76% to $1.05. Polygon (MATIC) has fallen by 2.2% to $1.55. The global crypto market cap stands at $1.63 trillion, a 2.6% decline over the previous day.

Superdao raises $10.5 million to build an all-in-one DAO platform

US-based Superdao has raised $10.5 million in a funding round led by VC firm SignalFire to help it achieve its goal of building an all-in-one DAO protocol. DAOs, or decentralized autonomous organizations, are a popular way to build investment groups, NFTs & metaverse projects, and social clubs. Founded in October 2021, Superdao aims to grow the DAO economy with better infrastructure.

SEC scrutinizing crypto firms over interest-paying services: Report

As per a Bloomberg report, the US Securities and Exchange Commission (SEC) is probing crypto exchanges Voyager Digital and Gemini Trust and crypto lender Celsius Network as part of a wider investigation into crypto companies that pay interest on virtual token deposits. The agency is considering whether these firms should file their offerings as securities with the SEC.

IMF calls on El Salvador to drop Bitcoin as legal tender

The International Monetary Fund (IMF) Executive Board has urged El Salvador to stop using Bitcoin as the legal tender. The board emphasized a need for strict regulation and oversight of the new ecosystem of digital e-wallet Chivo and Bitcoin. IMF stressed the risks associated with the use of Bitcoin on financial stability, financial integrity, and consumer protection.

Russia has ‘competitive advantage’ in Bitcoin mining: Putin

Russian President Vladimir Putin said the country has distinctive characteristics that allow it to benefit from Bitcoin mining. He also asked the Bank of Russia to reach a consensus with the Ministry of Finance, which recently discouraged a complete prohibition of Bitcoin trading and mining in the country. Last week, Russia’s central bank called for a complete ban of the activity as it worries cryptos could pose risks to its citizens.

US House panel to review crypto’s environmental impact

A United States House Energy and Commerce subcommittee is all set to investigate the environmental impact of cryptocurrencies tomorrow. This is a significant move as the US Congress begins to pay more attention to cryptos and related policies. Environmental activists have been trying to draw attention to the high emissions from Bitcoin mining and electricity consumption for a while now.

Crypto prices today: Bitcoin Falls 1.7%, ETH Down 4%

Bitcoin is currently trading at $41,393, a 1.7% decline over the previous day. Ethereum fell 3.9% over the last 24 hours to $3,067. Solana fell 3.2% to $135, while Cardano has fallen heavily by 11.5% to $1.38. Polygon (MATIC) has slumped 8% to $2.03. The global crypto market cap stands at $1.96 trillion, a 2.51% decline over the previous day. 

Intel to reveal ‘energy-efficient’ Bitcoin mining chip

Technology giant Intel is set to enter the Bitcoin mining business, with the reveal of a new Bitcoin mining “Bonanza Mine” chip at the International Solid-State Circuits Conference in February. The Bonanza Mine chip is described as an “ultra-low-voltage and energy-efficient Bitcoin mining hardware (ASIC)”.

AMC rewards 580K shareholders with free NFTs

AMC has deployed exclusive “I Own AMC” NFTs to more than 580,000 shareholders who registered via AMC’s Investor Connect portal by the December 31 deadline. The NFTs were minted on WAX, a platform designed for high-volume applications such as large NFT drops and video games. Last year, the movie later chain had revealed plans to begin accepting crypto payment via Bitcoin, Ethereum, Litecoin, and Dogecoin.

India’s crypto sector likely to update code of conduct

Indian cryptocurrency exchanges are weighing updates to their self-regulatory code of conduct to avoid run-ins with regulators. The move comes amid heightened scrutiny of the sector from regulatory bodies, including the Income Tax department and the Enforcement Directorate. As per an ET report, leading crypto exchanges such as WazirX, CoinDCX, CoinSwitch Kuber, and other members of the Blockchain and Crypto Assets Council (BACC) are working to update the ‘Code of Conduct (COC)’.

Crypto ATMs offline as Singapore seeks to regulate impulse trading

Cryptocurrency automatic teller machines (ATMs) in Singapore are being taken offline as its central bank limits consumer advertising of crypto. Crypto ATMs enable users to trade digital payment tokens (DPT) like Bitcoin and Ether with fiat money or government-issued currency. The Monetary Authority of Singapore (MAS) has stated that such convenient access may mislead the public to trade “on impulse”.

Crypto influencers face €300K fines in Spain’s advertising crackdown

As per the Financial Times, the National Securities Market Commission (CNMV) of Spain has cracked down on crypto advertising. Spain’s new rules require marketing companies and influencers to include “clear, balanced, impartial and non-misleading” statements about the risks of crypto. If an influencer or platform fails to comply, they may face a fine as high as €300,000.

Crypto prices today: Bitcoin Falls 1.75%, ETH Down 3%

Bitcoin is currently trading at $42,040, a 1.75% decline over the previous day. Ethereum fell 3% over the last 24 hours to $3,188. Solana fell 2.6% to $139.8, while Cardano is up 1.6% to $1.55. Polygon (MATIC) has fallen heavily by 8.4% to $2.20. The global crypto market cap stands at $2.01 trillion, a 2.42% decline over the previous day. 

PM Modi calls for global action on crypto

Prime Minister Narendra Modi has called for a collective and synchronized global action to regulate cryptocurrencies. He noted that steps taken by one country to regulate crypto may not be sufficient, given the kind of technology involved. PM Modi was speaking at the World Economic Forum’s Davos Agenda 2022 virtual event.

Land prices surge on Cardano Metaverse project Pavia

Gaming application Pavia, launched on the Cardano network last week, became the first-ever metaverse project on the blockchain. Around 100,000 land parcels were issued on Pavia, each being minted as a unique non-fungible token (NFT) with individual ‘coordinates’. The plots on Pavia were listed for as high as 30,000 Cardano (~$45,600).

NFT platform OpenSea hits record $3.5B in monthly Ethereum volume

OpenSea, a popular marketplace for NFTs, has recorded a new all-time high in monthly Ethereum trading volume, soaring past the $3.5 billion mark. With two more weeks to go before the end of January, OpenSea’s trading volume has now surpassed both the previous all-time of $3.42 billion recorded in August 2021 and $3.24 billion in sales in December.

Crypto Bill likely to miss Budget session

The Central government is unlikely to introduce the cryptocurrency bill in the upcoming budget session of Parliament. It wants to hold more discussions and build consensus on the regulatory framework. The Centre also wants to wait for the pilot launch of the Reserve Bank of India’s digital currency.

$500K Bitcoin donation prompts renewed investigation into Capitol Hill riot: Report

According to a report from Yahoo News, law enforcement and intelligence agencies are investigating the funding sources behind Capitol Hill rioters after a $500,000 transfer worth of Bitcoin has sparked renewed concern. This transfer was first identified in December 2020. Since then, an unnamed source told Yahoo News that the transaction has prompted the government to investigate the origins of funding behind the Capitol Hill rioters.

Rio de Janeiro mayor to invest 1% of city reserves into Bitcoin

The mayor of Rio de Janeiro, Eduardo Paes, announced plans to allocate 1% of the city’s reserves to Bitcoin. He plans to turn the city into a major cryptocurrency hub. The mayor further added that the state was looking towards exempting firms in the crypto sector from paying taxes. Cities such as Miami in the US are also investing in crypto assets to boost their revenues.

Crypto prices today: Bitcoin Falls 1%, Ethereum Down 1.5%

Bitcoin is currently trading at $42,811, a 1% decline over the previous day. Ethereum fell 1.52% over the last 24 hours to $3,295. Solana fell 3.95% to $143.52, while Cardano has surged 11.2% to $1.52. Polygon (MATIC) is up 3% to $2.40. The global crypto market cap stands at $2.06 trillion, a 0.88% decline over the previous day. 

Govt may consider levying TDS/TCS on crypto trading in Budget 2022: Report

Nangia Andersen LLP Tax Leader Aravind Srivatsan said the government may consider levying tax deducted at source (TDS) or tax collected at source (TCS) on sale and purchase of cryptocurrencies above a certain threshold. Such transactions may be brought within the ambit of “specified transactions” for the purpose of reporting to Income Tax authorities.

Walmart to venture into crypto and NFTs

US retail giant Walmart is reportedly positioning itself for a venture into the world of crypto and non-fungible tokens (NFTs). Based on trademark documents it filed in December 2021 with the US Patent and Trademark Office (USPTO), the company is also laying the groundwork to create its own cryptocurrency to contend with Bitcoin and Ether. 

Crypto-related job postings jumped ~400% in 2021: LinkedIn

According to a recent study by LinkedIn, listing for jobs looking for candidates possessing domain knowledge and expertise in the area of crypto and blockchain surged 395% in 2021 in the United States. The job descriptions and titles majorly included terms such as Bitcoin, Ethereum, blockchain, and cryptocurrency. San Francisco Bay Area, New York City, and Denver emerged as the prime areas that offered the maximum crypto-related job postings in 2021.

Use of Bitcoin for crypto payments declining: BitPay

Consumers and businesses are increasingly starting to use digital tokens other than Bitcoin for purchases, according to BitPay Inc. In 2021, Bitcoin’s use at merchants that use BitPay dropped to about 65% of processed payments, down 92% YoY. This is primarily due to the high volatility of Bitcoin. Ether purchases accounted for 15% of the total, stablecoins were 13%, and new coins added to BitPay in 2021 (Dogecoin, Shiba Inu, and Litecoin) accounted for 3%. More businesses have begun to use stablecoins for cross-border payments.

China to launch state-backed, crypto-less NFT platform

China’s state-backed Blockchain Services Network (BSN) plans to roll out infrastructure at the end of this month to support the deployment of non-fungible tokens (NFTs). They aim to create a Chinese NFT industry that is not linked to cryptocurrencies. The infrastructure will offer application programming interfaces for businesses or individuals so they can build their own user portals or apps to manage NFTs. 

Jack Dorsey’s Block Inc to build open bitcoin mining system

Jack Dorsey’s fintech firm, Block Inc, is building an open bitcoin mining system, as the newly re-branded company looks to expand beyond its payment business and into new technologies like blockchain. In a tweet thread, Block’s general manager for hardware, Thomas Templeton, has laid out the company’s plans about building the mining system. 

Crypto prices today: Bitcoin, Ethereum Falls ~2%

Bitcoin is currently lower trading at $42,728, down nearly 2.1% over the previous day. Ethereum fell 1.9% over the last 24 hours to $3,379. Solana declined by 2.2% to $147.5, while Cardano is up 0.5% to $1.30. Dogecoin has surged 16% to $0.196. The global crypto market cap stands at $2.05 trillion, a 1.25% decline over the previous day.

North Korean hackers stole $400 million in crypto in 2021

According to blockchain analysis firm Chainalysis’s new report, North Korean hackers launched at least seven attacks on crypto platforms that extracted nearly $400 million worth of digital assets in 2021. “From 2020 to 2021, the number of North Korean-linked hacks jumped from four to seven, and the value extracted from these hacks grew by 40%,” as per the report.

Bitcoin and Ethereum Futures ETFs coming to India: Report

As per an ET report, financial management firm Kling Trading and Cosmea Financial Holdings have teamed up to apply for Bitcoin and Ethereum futures exchange-traded funds (ETFs) on India INX. India INX is an international exchange and subsidiary of the Bombay Stock Exchange (BSE). These would be the first crypto-backed ETFs to be launched in India.

Tesla merch can be bought using Dogecoin: Elon Musk

Tesla Inc merchandise can be bought using the digital currency Dogecoin, the company’s CEO Elon Musk said in a tweet on Friday. Products such as the “Cyberwhistle” and “Cyberquad for Kids” could be bought using the meme coin. Dogecoin surged nearly 20% at $0.202 after Musk’s tweet. 

Republic of Palau launches digital residency program

The Republic of Palau announced a partnership with Cryptic Labs to launch a digital residency program. Using its Root Name System, Cryptic Labs will allow global citizens to claim digital residency backed by the Republic of Palau using blockchain. They can get some of the perks of residency on the island nation of 18,000 people without physically living there.

Crypto prices today: Bitcoin at $42,570, Ethereum up 3.7%

Bitcoin is currently trading at $42,577, a 1.01% increase over the previous day. Ethereum surged 3.7% over the last 24 hours to $3,228. Solana has surged 1.2% to $138, while Cardano is up 4.11% to $1.20. Polygon (MATIC) has jumped 7.8% to $2.32. The global crypto market cap stands at $2.01 trillion, a 2.65% increase over the previous day. 

Virender Sehwag joins cricket NFT universe with Rario

Virender Sehwag has become the latest cricketing star to join the NFT frenzy. He has signed a deal with leading cricket NFT platform Rario. Rario allows fans to buy and trade NFTs of their favourite cricketers and international leagues. The partnership gives Rario the exclusive opportunity to leverage the legendary batsman’s finest cricketing moments in the form of non-fungible tokens (NFTs).

Cryptos post record outflows in first week of 2022: CoinShares Report

As per a report from digital asset manager CoinShares, cryptocurrency investment products and funds had net outflows last week, totaling a record $207 million. The sector has experienced four consecutive weeks of outflows since mid-December, reaching a total of $465 million. Bitcoin posted outflows of $107 million in the first week of 2022.

Powell says Fed Report on crypto and central bank digital currency is ‘ready to go’

The Federal Reserve’s much-anticipated crypto report is “ready to go” and will come out “in the coming weeks,” according to Fed Chair Jay Powell. The report is likely to focus on central bank digital currencies (CBDCs). The report will seek input from the public but remains unclear if it will offer any actionable guidance.

IMF staff call for global framework to guide national regulation of crypto

The staff of the International Monetary Fund (IMF) has stated that the increasing rate of adoption of crypto assets demands a global framework to guide their national regulation and supervision. In an article, three IMF staff members wrote that the relatively high volatility and valuations of cryptos could pose risks to financial stability, especially in countries with widespread crypto adoption.