In brief Dogechain is a newly-launched blockchain platform that lets users bridge over Dogecoin (DOGE) and use it for DeFi, NFTs, and more. It’s not a traditional layer-2 scaling solution for Dogecoin, as billed, nor are Dogecoin’s developers or creators involved in the project. Dogecoin may have started out as a joke, but the leading meme coin could be gaining…
The Central District of California federal court entered an order Monday to authorize the United States Internal Revenue Service (IRS) to serve a John Doe summons on SFOX, a Los Angeles-based cryptocurrency prime dealer. The IRS filed suit to receive the order, which directs SFOX to reveal the identities of customers who are U.S. taxpayers and documents relating to their…
The United States Securities and Exchange Commission, or SEC, has filed a complaint related to a 2017 initial coin offering from a blockchain project originally developed by the Walt Disney Company. In a Tuesday notice, the SEC said it had charged Dragonchain, the Dragonchain Foundation, the Dragon Company, and their founder John Joseph Roets for raising $16.5 million in a…
Play-to-earn (P2E) blockchain-based games gathered investors’ attention in late 2021, with Axie Infinity leading the pack with over 2 million active users. In P2E games, players are awarded tokens or nonfungible token assets (NFTs) as they progress throughout the game. These digital assets can be sold using marketplaces and cryptocurrency exchanges, generating income in a decentralized manner. However, there is a…
A California court has given the U.S. Internal Revenue Service permission to issue a “John Doe” summons to prime brokerage SFOX. If issued, the summons would seek both user identification and transaction records for anyone who completed at least $20,000 worth of transactions from 2016 through the end of 2021. In a memo about the SFOX summons, Hubbert wrote that…
The U.S. Securities and Exchange Commission has further broadened its crusade against the cryptocurrency industry, announcing charges against John Joseph Roets, chief architect of Dragonchain, for allegedly raising $16.5 million in unregistered “crypto asset” securities offerings. The Tuesday filing follows the SEC’s assertion that popular crypto exchange Coinbase listed unregistered securities on its platform in July. According to the SEC,…
Just recently the American author, economist, and retired politician Ron Paul discussed the rising tensions between China and Taiwan during an interview and he talked about the U.S. economy as well. Paul insists that the U.S. economy’s “collapse will come,” and he further stressed that “debt has to be liquidated.” ‘End the Fed’ Evangelist Ron Paul Says the ‘Real World…
Inc. magazine has named BlockFi the fastest growing company in the United States in 2022. At the top of the magazine’s Inc. 5000 2022 list, it experienced 245,616% growth, a lead of more than 99,000% over the second-place company, a platform for hiring nurses. The median growth rate was 230% across all 5,000 entries. The Inc. list “ranks companies by…
Colombia may introduce a central bank digital currency, the country’s tax agency chief said yesterday. Luis Carlos Reyes, the director of Colombia’s tax and customs agency, DIAN, told Semana magazine Monday that the South American nation’s new government would look to create “a digital currency” that would make “transactions easier for the consumer.” A central bank digital currency (CBDC) is…
With the highly anticipated Ethereum merge happening next month—and the blockchain moving from proof of work to proof of stake—the biggest crypto companies are now beginning to announce what the experience will look like for retail investors. Coinbase will temporarily pause Ethereum and ERC-20 token deposits and withdrawals during the merge, the exchange announced Tuesday. The pause is a precautionary…
