Tag: Ethereum

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Coinbase Makes India Push With UPI Payments – Top Crypto News

Crypto giant Coinbase makes India push with UPI payments

Coinbase is adding support for the popular UPI payment instrument in India. This move will make the crypto exchange functional in the world’s second-largest internet market for the first time. Coinbase made the official launch at its maiden event in India on Thursday, saying that it is working to broaden its product offerings in the country. Users in India will be able to add and withdraw money from their accounts by using the UPI network.

Crypto prices today: Bitcoin, ETH down 4.3%

Bitcoin is currently trading at $43,504, a 4.36% decline over the previous day. Ethereum is down 4.3% over the last 24 hours to $3,222.6. Solana crashed 9.4% to $115.7, while Cardano is trading lower by 6.4% at $1.08. Terra (LUNA) fell 7.2% to $109.11. The global crypto market cap stands at $2 trillion, a 4.6% decline over the previous day.

The crypto market fell after Federal Reserve governor Lael Brainard reiterated the central bank’s commitment to quickly tightening monetary policy.

Meta to create tokens for Facebook’s Metaverse: Report

As per a Financial Times report, Meta (parent company of Facebook) is reportedly still interested in creating tokens for use within the metaverse. The company is exploring a centralised in-app token similar to ROBUX for the game Roblox. Some Meta staffers are reportedly referring to the tokens as “Zuck Bucks.” 

Solana NFTs can now be traded on OpenSea

Non-fungible tokens (NFTs) minted on the Solana blockchain network can now be traded on OpenSea, the largest NFT marketplace in terms of volume. OpenSea is primarily based around Ethereum and currently dominates the NFT trading space by a large margin. Solana saw $173 million in NFT trade volume during March, according to data tracker CryptoSlam. 

Binance.US valued at $4.5 billion after inaugural funding

Binance.US, the American subsidiary of Binance, has closed its first funding round for a pre-money valuation of $4.5 billion. Led by RRE Ventures, Foundation Capital, VanEck, and others, the $200 million seed round makes the firm the latest of several that have reached unicorn status. Binance.US said it offers the most competitively low trading fees (0.1%) of crypto exchanges available to U.S. investors.

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Bitcoin Held on Crypto Exchanges Reaches Multi-Year Lows – Top Crypto News

Bitcoin held on crypto exchanges reaches ‘multi-year lows’: Report

With Bitcoin (BTC) net outflows averaging 96,200 coins per month for the past two years, the cumulative BTC balances of exchanges have hit “multi-year lows,” as per crypto analytics firm Glassnode. More Bitcoin is heading away from exchanges and into addresses that periodically purchase BTC but don’t spend it. Glassnode pointed out that the amount of BTC being accumulated each day is much higher than the amount of new BTC being created. 

Crypto prices today: Bitcoin falls 2.3%, ETH down 4%

Bitcoin is currently trading at $45,486.8, a 2.37% decrease over the previous day. Ethereum is down 4.2% over the last 24 hours to $3,369.64. Solana fell 3.93% to $127.2, while Cardano is trading lower by 3.44% at $1.16. Meanwhile, Dogecoin jumped 9% to $0.165. The global crypto market cap stands at $2.10 trillion, a 2.8% decline over the previous day.

New bill rakes aim at El Salvador’s ‘careless gamble’ on Bitcoin

The US is pressing legislation aimed at protecting its financial system from El Salvador’s Bitcoin Law. American lawmakers introduced a new bill asking the State Department to mitigate the risks of El Salvador’s adoption of Bitcoin. Congresswoman Torres said the bill was necessary to protect the US financial system from El Salvador’s “careless gamble.” 

Dominance of public Bitcoin miners jumps nearly sixfold in 15 months

According to Blockchain.com, the dominance of public Bitcoin miners over network hash rate has increased more than sixfold in the last 15 months. Hash Rate is the rate at which Bitcoin miners generate possible answers for constructing Bitcoin’s next block. Comprising 19% of the network hash rate, public miners have a 19% probability of solving new blocks right now.

Coinbase to hire 1,000 people in India expansion

Crypto exchange Coinbase plans to quadruple the number of employees in India by year-end. The company will add 1,000 to the existing 300 staff at its Indian tech hub, which started last year. Coinbase will host a crypto community event in Bangalore to discuss the future of crypto and Web 3 in India.

Starbucks announces plans to get into NFT business

Starbucks CEO Howard Schultz has announced plans to get into the non-fungible token (NFT) business. The company is working on digital innovation through NFTs and plans for the continued evolution of partner benefits.

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UK Aims to Become ‘Crypto Asset Tech Hub’ – Top Crypto News

uk reports slow growth

UK Govt lays out plans to become ‘crypto asset technology hub’

The United Kingdom has announced plans to become a “global crypto asset technology hub.” The country’s Finance Ministry will create legislation to bring certain stablecoins into the regulatory framework. The government acknowledged that certain stablecoins have the potential to become a widespread means of payment, including by retail customers. Stablecoins are cryptos whose value is pegged to that of fiat currencies like the US Dollar, Euro, and UK Pound.

Crypto prices today: Bitcoin rises 1%, ETH up 0.5%

Bitcoin is currently trading at $46,585.62, a 1% increase over the previous day. Ethereum is up 0.54% over the last 24 hours to $3,516.2. Solana fell 2.6% to $132.28, while Cardano is trading lower by 2.08% at $1.20. Polygon (MATIC) fell 2.16% to $1.64. The global crypto market cap stands at $2.16 trillion, a 0.29% increase over the previous day.

Intel launches new Bitcoin mining chips focused on sustainability

Intel launched its “Intel Blockscale ASIC,” a second-generation Bitcoin mining chip. The chip features a 580 GH/s (gigahashes per second) hash rate, while consuming just 26 J/TH (joules per terahash), making it much more efficient. Hash rate measures how quickly a miner can generate answers to Bitcoin’s next block. Joules per terahash measure how much energy is consumed to produce every terahash.

Gensler wants SEC and CFTC to regulate crypto exchanges together

US Securities & Exchange Commission (SEC) Chair Gary Gensler has asked his staff to coordinate with the Commodity Futures Trading Commission (CFTC) to find ways to regulate platforms that facilitate the trading of both securities and non-securities. A joint SEC-CFTC registration and regulation process could eliminate some confusion by giving exchanges a single regulatory authority to turn to.

Crypto billionaire plans to give away 99% of his fortunes

The billionaire founder of crypto exchange FTX, Sam Bankman-Fried, plans to give away the vast majority of his wealth. According to Bloomberg, the 30-year-old drives a Toyota Corolla, lives like a college student, and has a goal of making as much money as possible so that he will have more to give away. The MIT grad learned effective altruism in 2012. The philosophy uses mathematical calculations to determine how people could do the most good with their money and time.

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FTX in Talks to Invest in Indian Gaming Startup MPL – Top Crypto News

bitcoin crosses $50000

FTX in talks to invest in Indian gaming startup MPL

India’s Mobile Premier League (MPL) is in talks to raise capital from several investors, including crypto exchange FTX as it prepares to make a push on Web3 capabilities. MPL operates over 60 mobile games, including sports-based, card-based, and fantasy. In recent weeks, it has informed some existing and new potential investors that it plans to launch play-to-earn and NFT-based games later this year.

Crypto prices today: Bitcoin falls 0.6%

Bitcoin is currently trading at $46,163.45, a 0.6% decline over the previous day. Ethereum is down 0.06% over the last 24 hours to $3,498.31. Solana fell 1.26% to $136.18, while Cardano is trading higher by 3.8% at $1.22. Meanwhile, Avalanche (AVAX) fell 2.5% to $96.94. The global crypto market cap stands at $2.16 trillion, a 0.25% decline over the previous day.

Crypto volumes in India see a dip as new tax rules kick in

According to Bitcoin.com, crypto volumes in India have dropped as the tax on digital assets kicked in on April 1. Finance Minister Nirmala Sitharaman, in her Budget speech, announced a 30% flat income tax on crypto income or digital asset investments. A 1% tax-deductible at source (TDS) on all digital-asset transfers above a certain size will start on July 1.

OpenSea to allow NFT purchases with bank cards, Apple Pay

OpenSea will allow users to buy non-fungible tokens (NFTs) using credit cards, debit cards, or Apple Pay. The move comes through a partnership with MoonPay, a fintech player that builds payment infrastructure in the crypto space. The move is set to expand OpenSea’s customer base to more non-crypto natives. 

Nearly half of crypto owners first bought digital assets in 2021: Survey

As per a survey by crypto exchange Gemini, almost half of all crypto owners in the United States, Latin America and Asia Pacific purchased digital assets for the first time in 2021. It was a blockbuster year for crypto, with inflation driving crypto adoption in countries that have experienced currency devaluation. Brazil and Indonesia lead the world in crypto adoption.

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EU Parliament Votes to Impose KYC on Private Crypto Wallets – Top Crypto News

EU Parliament votes to impose KYC on private crypto wallets

The European Union (EU) Parliament has voted to impose new regulatory measures that would prohibit anonymous crypto transactions. They have approved a proposal that would require crypto service providers (such as exchanges) to collect personally identifiable information from individuals who transact more than €1,000 using unhosted crypto wallets. Unhosted wallets are non-custodial wallets, which do not rely on third parties.

Crypto prices today: Bitcoin falls 4.7%, ETH down 3.9%

Bitcoin is currently trading at $44,891.56, a 4.7% decline over the previous day. Ethereum is down 3.9% over the last 24 hours to $3,267.89. Solana is up 0.8% to $123.16, while Cardano is trading lower by 5.7% at $1.14. Meanwhile, Avalanche (AVAX) fell 5.1% to $93.86. The global crypto market cap stands at $2.06 trillion, a 4.28% decline over the previous day.

Binance steps up hiring, activity in crypto hub Dubai

Crypto exchange Binance is recruiting over 100 positions in the United Arab Emirates (UAE) and is helping to shape Dubai’s new virtual assets regulations. The company’s links with the Gulf state have deepened in recent months as the UAE is trying to style itself as the world’s new digital assets hub. Binance is also helping Dubai’s financial free zone develop a virtual asset ecosystem.

US lawmakers introduce Stablecoin Transparency Act in Senate

Two U.S. lawmakers, Rep. Trey Hollingsworth and Sen. Bill Hagerty, introduced a new bill in both the House and Senate that aims at bringing greater transparency to the stablecoin marketplace. The “Stablecoin Transparency Act” will set standards for the quality of assets held in reserves. It will also require stablecoin issuers to report on their reserves. If passed, the bill would have a severe impact on stablecoin issuers like Circle and Tether.

India will frame crypto law after global consensus: Report

As per a Bloomberg report, India will frame legislation for crypto only after a global consensus emerges on regulating such assets. The government is not planning a law soon to either regulate or tighten provisions. Crypto investments have flourished in India after the Supreme Court set aside restrictions imposed by the Reserve Bank of India in March 2020.

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Blockchain.com Hits $14B Valuation in Latest Funding Round – Top Crypto News

Blockchain.com hits $14B valuation in latest funding round: Report

As per a Bloomberg report, crypto exchange Blockchain.com reached a $14 billion valuation in a funding round led by Lightspeed Venture Partners. The UK-based company raised $300 million in March last year at a valuation of $5.2 billion. The exchange currently has 37 million verified users, and one-third of Bitcoin network transactions are conducted through it.

Crypto prices today: Bitcoin down 0.6%, ETH down 0.2%

Bitcoin is currently trading at $47,114.3, a 0.65% decline over the previous day. Ethereum is down 0.22% over the last 24 hours to $3,398.7. Solana jumped 8.7% to $122.53, while Cardano is trading higher by 0.6% at $1.21. Meanwhile, Avalanche (AVAX) rose 5.23% to $98.69. The global crypto market cap stands at $2.16 trillion, a 0.53% increase over the previous day.

Crypto assets to be taxed in India from April 1

The taxation of Virtual digital assets (VDAs) or “crypto tax” proposed in the Union Budget 2022-23 will be implemented from April 1. A 30% income tax plus cess and surcharges will be levied on such transactions in the same manner as it treats winnings from horse races or other speculative transactions. There is also a 1% TDS on payments towards VDAs beyond Rs 10,000 in a year and taxation of such gifts in the hands of the recipient. 

Samsung partners with Nifty Gateway to create Smart TV NFT Platform

Samsung and Nifty Gateway have partnered to create an NFT platform for the tech giant’s smart TVs. Users will be able to view, buy, trade, and display NFTs via the smart TV interface. It taps into Nifty Gateway’s custodial wallet system, in which the platform secures users’ collectibles rather than requiring them to hold them in an external wallet.

Lionel Messi signs multi-year deal to promote ‘fan token’ firm Socios

Lionel Messi has signed a deal reportedly worth $20 million to promote fan token platform Socios on the world’s stage. The deal was made in fiat rather than cryptocurrencies. As a brand ambassador, Messi will participate in several promotional and educational campaigns. The first campaign’s tagline is “be more” and will be used to onboard users to the Socios platform.

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Blockchain Firm Ronin Hit by $615M Crypto Heist – Top Crypto News

Bitcoin cryptocurrency representation is pictured on a keyboard in front of binary code in this illustration taken September 24, 2021. REUTERS/Dado Ruvic/Illustration/file photo

Blockchain firm Ronin hit by $615 million crypto heist

Blockchain company Ronin said hackers stole crypto worth almost $615 million from its systems. It is considered one of the largest cryptocurrency heists on record. On March 23, unidentified hackers stole nearly 173,600 ether tokens and 25.5 million USD Coin tokens. The hacker had used stolen private keys (the passwords needed to access crypto funds) to make off with the funds.

Crypto prices today: Bitcoin down 0.3%, ETH up 0.2%

Bitcoin is currently trading at $47,289.7, a 0.3% decline over the previous day. Ethereum is up 0.16% over the last 24 hours to $3,399.31. Solana rose 1.6% to $111.78, while Cardano is trading lower by 1.5% at $1.19. Meanwhile, Terra (LUNA) rose 2.4% to $105.97. The global crypto market cap stands at $2.14 trillion, a 0.05% decline over the previous day.

Web browser Opera adds support for Bitcoin, Polygon, Solana

Opera, a popular web browser, is adding support for eight new blockchain networks to ease access to decentralized apps (dApps) and services. These include well-known projects like Bitcoin, Solana, Polygon, Nervos, StarkEx, etc. Earlier this year, Opera rolled out the public beta version of its new Crypto Browser Project for mobile and desktop devices.

OpenSea to start listing Solana NFTs in April

Leading NFT marketplace OpenSea has confirmed that it will indeed add support for NFTs minted on the Solana blockchain in April. Solana is the second-largest NFT ecosystem behind Ethereum, with an estimated market cap of $1.5 billion across its collections.

UAE firm BitOasis gets provisional approval from Dubai’s new crypto regulator

Crypto exchange BitOasis has received provisional approval from Dubai’s new crypto regulator. The move comes on the back of the UAE’s push to become a centre for the virtual asset sector. BitOasis will continue operations in Dubai while it applies for a full Virtual Asset Regulatory Authority (VARA) license.

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Ethereum Upgrade To Cut Energy Use By Over 99% – Top Crypto News

Ethereum upgrade to cut energy use by over 99%

Ethereum will soon see a much-anticipated upgrade that could result in more institutional investors investing in the network. The goal is to make Ethereum more scalable, safe, and sustainable.  It would make its crypto (Ether) mining obsolete and decrease the enormous amount of energy necessary to create new currencies. As per reports, this upgrade can cut energy consumption by at least 99.95%.

Crypto prices today: Bitcoin, ETH jumps 5%

Bitcoin is currently trading at $46,967.71, a 5% increase over the previous day. Ethereum is up 5.2% over the last 24 hours to $3,317.42. Solana rose 6.29% to $108.76, while Cardano is trading higher by 3.4% at $1.18. Meanwhile, Polkadot (DOT) jumped 8% to $22.81. The global crypto market cap stands at $2.12 trillion, a 4.73% increase over the previous day.

African Digital Art Network launches Nandi NFT marketplace on Celo

African Digital Art Network, a global collective of Black digital artists, is taking its first steps into Web3 by launching the NFT marketplace Nandi. The new platform allows Black artists and creators to showcase their talent. It is also a place where they can experience the financial benefits of Web3 across the African diaspora.

Crypto for Ukraine provides a flow of war-related assistance

People around the world have donated millions of dollars directly to Ukraine’s war effort via cryptos such as Bitcoin. The Ukrainian government says it has taken in almost $67 million of its $200 million target as of Saturday (March 26). The country has spent ~$34 million of the funds received as of last week. It has converted about 80% to traditional currencies and used the remainder with merchants that already accept crypto.

Govt recovered Rs 95.86 crore from 11 crypto exchanges for GST evasion

The Centre has recovered a total of Rs 95.86 crore, including interest and penalty, from 11 crypto exchanges for evading Goods and Services Tax (GST). The biggest evasion was detected at Zanmai Labs Pvt. Ltd, which operates under the brand WazirX. The quantum of evasion was Rs 40.51 crore. Coin DCX came second on the list with evasion of Rs 15.70 crore.

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FinMin Seeks to Tighten Norms for Crypto Taxation – Top Crypto News

Finanace Ministry seeks to tighten norms for crypto taxation

The Govt has proposed to tighten norms for crypto taxation by disallowing the set-off of losses with any gains from digital assets (crypto, NFT, etc). As per the amendments to the Finance Bill, 2022, the Finance Ministry proposes to remove the word ‘other’ from the section relating to set off of losses from gains in virtual digital assets. From April 1, a 30% income tax plus cess and surcharges will be levied on all crypto transactions. It will be levied in the same manner as it treats winnings from horse races or other speculative transactions.

Crypto prices today: Bitcoin up 2%, ETH rises 2.8%

Bitcoin is currently trading at $44,117.32, a 2.1% increase over the previous day. Ethereum is up 2.8% over the last 24 hours to $3,141.12. Solana surged 7% to $103.74, while Cardano is trading higher by 3.8% at $1.15. Polygon (MATIC) rose 3.6% to $1.64. The global crypto market cap stands at $2 trillion, a 1.94% increase over the previous day.

Bank of England lays out first regulatory approach to crypto

The Bank of England (BoE) has begun sketching out the UK’s first regulatory framework for crypto assets. BoE said the rapid growth of cryptos could pose risks to financial stability in the future if left unregulated. Crypto-assets have come under the regulatory spotlight amid concerns they could be used to bypass financial sanctions imposed on Russia since its invasion of Ukraine.

Solana price gains 10% as gaming adoption accelerates

Solana jumped ~10% in 24 hours, moving from about $96 to $103 at one point today. The move comes shortly after Krafton announced it is partnering with Solana Labs to develop blockchain games on the network. Krafton is the publisher of the popular battle royale game PUBG. Earlier this week, Web3 gaming startup Block Tackle said it is developing a Solana NFT skateboarding game.

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Meta Files Trademarks for Crypto Tokens, Wallets – Top Crypto News

Meta files trademarks for crypto tokens, wallets, exchanges

Meta (formerly Facebook) has filed eight trademark applications for its logo to cover a wide range of digital purposes, including crypto tokens, wallets, and exchanges. Among the 8 trademark filings, six exclusively refer to crypto and blockchain-based technologies. Meta recently announced it’s looking to integrate NFTs on Instagram.

Crypto prices today: Bitcoin up 2.5%, ETH rises 3.4%

Bitcoin is currently trading at $43,122.5, a 2.5% increase over the previous day. Ethereum is up 3.4% over the last 24 hours to $3,054.32. Solana surged 6.3% to $97.11, while Cardano is trading higher by 14% at $1.10. Dogecoin (DOGE) jumped 11.6% to $0.136. The global crypto market cap stands at $1.96 trillion, a 2.77% increase over the previous day.

Fed’s Powell again raises alarms over ‘financial stability’ of cryptos

Federal Reserve Chairman Jerome Powell recently noted that new forms of digital money such as cryptocurrencies and stablecoins presented risks to the US financial system. “Our existing regulatory frameworks were not built with a digital world in mind,” he was quoted as saying. “There are potential financial-stability concerns for some crypto products,” Powell added.

Studio behind PUBG series to make Solana NFT games

South Korean game publisher Krafton, Inc. has revealed a long-term agreement with Solana Labs. Both entities plan to work together to develop and market blockchain and NFT-driven games that run on the Solana network. They also aim to explore co-investment opportunities. Krafton is the company behind PUBG: Battlegrounds, a popular battle royale shooter franchise that spans multiple platforms.

Coinbase adds Cardano staking rewards

Crypto exchange Coinbase now offers staking for ADA, the native cryptocurrency of the Cardano blockchain. In explaining the decision, senior product manager Rupmalini Sahu pointed to ADA’s top-10 market capitalization and its sustainable, flexible blockchain design. The design uses smart contracts to enable decentralized finance (DeFi), NFTs, and other activities on the network.

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Govt Working on Classification of Crypto Under GST Law – Top Crypto News

Govt working on classification of crypto under GST law

The Indian government is working on the classification of crypto as goods or services under the GST law so that tax can be levied on the entire value of transactions. Currently, 18% Goods and Services Tax (GST) is levied only on services provided by crypto exchanges. GST officers are of the view that cryptos are similar to lottery, gambling, and horse racing, which have a 28% GST on the entire value.

Crypto prices today: Bitcoin down 2.2%, ETH falls 1.8%

Bitcoin is currently trading at $40,981.6, a 2.25% decline over the previous day. Ethereum is down 1.8% over the last 24 hours to $2,870.5. Solana fell 2.56% to $88.88, while Cardano is trading lower by 1.9% at $0.886. Meanwhile, Terra (LUNA) rose 1.4% to $94.17. The global crypto market cap stands at $1.86 trillion, a 1.75% decline over the previous day.

DAO treasuries top $8.2 billion on Ethereum, $1.3B on Solana: DeepDAO

Interest in decentralised autonomous organisations (DAOs) has seen a sharp increase over the last few years. According to DAO analytics site DeepDAO, there is currently $9.5 billion held in DAO treasuries across all networks. Out of the total, $1.3 billion is held by DAOs built on the Solana network alone and $8.2 billion on Ethereum. DAO is a way of organizing people and their interests on the internet using blockchain.

Cricket NFT marketplace to raise $100M in Series A funding round: Report

FanCraze, the developer of a NFT marketplace trading official cricket collectibles, is raising around $100 million in Series A funding. B Capital Group and Insight Partners are leading the round, with participation from South Korea’s Mirae Asset. International soccer superstar Cristiano Ronaldo is also reportedly one of the investors. FanCraze secured a partnership with the International Cricket Council (ICC) in November 2021 to launch the NFT marketplace. 

Hubspot hack leads to data breaches at BlockFi, Swan Bitcoin

A data breach at Hubspot has affected crypto trading platforms BlockFi and Swan Bitcoin. However, both companies said their operations have not been affected and treasuries are not at risk. Many companies use Hubspot to manage marketing campaigns and onboard new users. While user information was leaked to hackers, both companies said that passwords and other internal information was not affected. 

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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.