The government of the United Kingdom is asking the public for input on the taxation of crypto asset loans and staking in the context of Decentralized Finance (DeFi). DeFi is an umbrella term that refers to financial applications that are built on top of blockchain technology. This could include anything from lending to borrowing and staking platforms. In particular, the…
Lido’s native token LDO has skyrocketed by more than 24% in the last 24 hours, hitting a weekly-high of $0.66 cents. Meanwhile, Lido’s Staked Ethereum token, called stETH, appears to have grown in value with Ethereum. Both rose a little over 5% overnight with the staked version trading at $1,091 and Ethereum trading at $1,127. The current gap between Ethereum…
Nexo today announced it signed an indicative term sheet with crypto financial services company the troubled Singapore-based crypto lender Vauld. Under the agreement, Nexo has a 60-day exploratory period that would see the company conduct a due diligence process related to the intended acquisition. Pending a satisfactory outcome, Nexo intends to buy up to 100% of the firm and reorganize…
The domino effect of the 2022 bear market, which saw the downfall of numerous crypto ecosystems and tokens over several months, caught up to GARI token as it tanked over 83% in value in a matter of hours on June 4. While GARI Network brushed off the development as a “market event,” investors suspect a rug pull event. GARI token…
Between June 13 and June 27, or roughly two weeks, Tron’s stablecoin USDD dropped lower than the $1 parity and slipped to a low of $0.928 per unit on June 19. During the past seven days, USDD has managed to jump back to the $0.98 to $0.99 region while reaching $1 on July 3. Tron’s USDD Stablecoin Climbs Back Above…
Sequoia Capital China, the Chinese affiliate of cryptocurrency-friendly venture capital firm Sequoia Capital, is about to raise $9 billion for its four new funds focused on Chinese startups. In raising the capital, Sequoia China has already exceeded its initial target of roughly $8 billion, The Information news agency reported on July 4, citing two people familiar with the matter. The…
The growth of Circle’s native stablecoin USD Coin (USDC) in the last two months compared to its $66-billion rival giant Tether (USDT) is nothing short of spectacular. USDT, USDC market cap ratio hits the lowest on record Notably, USDC’s market capitalization has grown by 8.27% since May, reaching its highest level of $55.9 billion on July 2. In contrast, USDT…
Netherland-based Maastricht University (UM) is set to recover nearly €500,000 worth of Bitcoin (BTC) after the police authorities managed to solve the infamous ransomware attack in December 2019. In 2019, a ransomware hack targeted the said university and froze all its research data, emails and library resources. The hackers demanded €200,000 in BTC and the university decided to pay the…
Bitcoin (BTC) has a “neutral to positive” outlook despite staying below $20,000, according to ARK Investment Management. In its latest “Bitcoin Monthly” report, the American asset management giant flagged signs that BTC price action is close to bottoming. Wood: “We’re waiting for more capitulation signals” One of Bitcoin’s most vocal supporters, ARK and CEO, Cathie Wood, have stuck with BTC exposure…
The Monetary Authority of Singapore (MAS) won’t rule out amendments to existing legislation and introduce new rules that would add more restrictions on retail crypto-traders In a written response to a question raised by one of the city-state’s MPs, MAS chairman Tharman Shanmugaratnam said that Singapore’s central bank “has been carefully considering the introduction of additional consumer protection safeguards.” “These…
