Tag: tether

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Coinbase Faces SEC Probe on Crypto Listings – Top Crypto Updates

Coinbase faces SEC probe on crypto listings

As per a Bloomberg report, Coinbase Global Inc. is facing a U.S. Securities & Exchange Commission investigation into whether it improperly allowed Americans to trade digital assets that should have been registered as securities. The SEC’s scrutiny of Coinbase has increased since the platform increased the number of tokens in which it offers trading.

Currently, Coinbase lets Americans trade more than 150 tokens. If those products are deemed securities, the firm would need to register as an exchange with the SEC.

Crypto prices today: Bitcoin falls 0.15%, ETH down 0.45%

Bitcoin is currently trading at $21,099.26, a decline of 0.15% over the previous day. Ethereum fell 0.45% over the last 24 hours to $1,417.46. Solana fell 0.82% to $35.65, while Cardano is trading lower by 0.63% at $0.468. Polygon (MATIC) is down 1.05% to $0.757. The global crypto market cap stands at $963.64 billion, a 4.35% decline over the previous day.

The crypto market is in the red as investors prepare for a two-day Fed meeting that is expected to see a 75-basis-point rate hike.

Tether, Bitfinex aims to build a new internet with P2P app Keet

Tether and Bitfinex CTO Paolo Ardoino has announced the launch of Keet, a blockchain-based peer-to-peer (P2P) video chat app. The app will run on the Holepunch platform, which allows users to connect via text, call, or video via distributed technology. Users can locate and connect with each other using only cryptographic key pairs upon authorization.

Titanium Blockchain CEO pleads guilty to securities fraud

The U.S. Department of Justice announced that Michael Stollery, the CEO of Titanium Blockchain Infrastructure Services (TBIS), has pleaded guilty to his role in a scheme that brought in $21 million through a fraudulent initial coin offering (ICO). Stollery called the scheme a “crypto investment opportunity,” luring investors to purchase the firm’s BAR token through a series of false and misleading statements. He faces up to 20 years behind bars.

Tesla records $170M impairment charge on Bitcoin

Tesla Inc. recorded a $170 million impairment charge against the carrying value of its Bitcoin holdings for the first six months of the year. An impairment charge is a process used by businesses to write off worthless goodwill. These are assets whose value drops or is lost completely, rendering them worthless. The electric-car maker also logged $64 million in gains from certain sales of its Bitcoin holdings.

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Shopify Adds NFT-Gated Option for Online Retailers – Top Crypto Updates

Shopify adds NFT-gated option for online retailers

Shopify is launching non-fungible token (NFT)-gated storefronts as a new feature for brands looking to make their stores more exclusive. Token holders can connect a crypto wallet to unlock exclusive shopping experiences, from early access to drops and limited collections to one-of-a-kind experiences. Shopify is a Canadian multinational e-commerce company.

Crypto prices today: Bitcoin rises 2.5%, ETH up 2.3% 

Bitcoin is currently trading at $20,563.91, an increase of 2.58% over the previous day. Ethereum is up 2.32% over the last 24 hours to $1,100.84. Solana rose 6.4% to $36.36, while Cardano is trading higher by 2.72% at $0.474. Avalanche (AVAX) surged 8% to $17.46. The global crypto market cap stands at $908.92 billion, a 2.36% increase over the previous day.

Coinbase to phase out trader-friendly ‘pro’ exchange

Coinbase announced its plans to discontinue its advanced, trader-focused Coinbase Pro service by the end of the year. The service offered lower fees to traders who interacted directly with the Coinbase Exchange order book. It will be replaced by Advanced Trade, a service that offers comparable features but that will live within the main Coinbase app and site.

Tether to launch stablecoin pegged to British Pound Sterling

Tether has announced plans to introduce a token pegged to the British Pound Sterling next month. The stablecoin (GBPT) will be initially supported by the Ethereum blockchain. GBPT is set to become the fifth fiat currency-pegged stablecoin launched by Tether, joining the U.S. dollar-pegged USDT, Euro-pegged EURT, and Chinese Yuan-pegged CHNT.

GST on crypto likely as council may take decision next week: Report

As per a Bloomberg report, the Goods & Services Tax (GST) council will meet next week to discuss a GST on cryptocurrency transactions. Discussions may be held on placing crypto in the highest tax slab of 28%. An additional tax on the industry could be troublesome for crypto exchanges and traders in the country. 

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Tether Launches Peso-Backed Stablecoin – Top Crypto News

Tether launches Mexican Peso-backed stablecoin

Tether has announced the launch of MXNT, a new type of stablecoin backed by the Mexico Peso (national currency). Initially, MXNT will be available on the Ethereum, Polygon, and Tron blockchains. The launch of MXNT will provide a testing ground for onboarding new users in the Latin American market. It will also pave the way for launching fiat-pegged currencies in the region in the future.

Crypto prices today: Bitcoin falls 2.5%, ETH down 9%

Bitcoin is currently trading at $28,872.9, a 2.5% decline over the previous day. Ethereum plummeted 8.5% over the last 24 hours to $1,757.46. Solana crashed 11.11% to $41.21, while Cardano is trading lower by 8.4% at $0.461. Avalanche (AVAX) fell sharply by 12.3% to $22.76. The global crypto market cap stands at $1.19 trillion, a 5.16% decline over the previous day.

MetaMask partners with Asset Reality for recovery of stolen digital assets

Non-custodial crypto wallet MetaMask has partnered with Asset Reality to create a solution for recovering, managing, and accessing seized crypto and complex assets. The two entities will help victims of scams across the globe recover their digital assets. With the exponential growth of Web 3.0 in the last few years, the number of online scams has increased along with new financial services and innovative applications.

Huobi acquires Latin American crypto exchange Bitex

Chinese crypto exchange Huobi has acquired Latin American crypto exchange Bitex to expand its presence in the region. Huobi plans to integrate Bitex’s exchange platform with its global platform. With over 200,000 open accounts, Bitex serves individuals, high-net-worth clients, and corporate customers. It operates in Argentina, Chile, Paraguay, and Uruguay.

Crypto tax firm CoinTracker forays into Indian market

US-based CoinTracker announced its foray into the Indian market with an official product launch. The crypto tax compliance and portfolio tracking products offered by CoinTracker are now available for crypto users in India. The company aims to collaborate with partners and the community to boost crypto adoption and usage in the country.

CoinTracker’s entry comes at a time when the crypto industry is grappling with a 30% tax on virtual assets and will additionally start paying 1% TDS starting July 1. \

Crypto scammers pose as journalists, NFTs on Twitter

As per a Bloomberg report, internet scammers are using hijacked accounts on Twitter to promote shady crypto platforms that enable them to compromise victims’ sensitive data. Since March 2022, fraudsters have impersonated journalists, crypto apps, and a variety of nonfungible token (NFT) projects on Twitter to steal users’ virtual currency, usernames, and password credentials.