A Russian company has announced the country’s first authorized transaction with digital financial assets (DFAs) involving a foreign currency, China’s yuan. The deal, reportedly the largest made to date under the current Russian DFA law, covers the issuance of tokens secured by commercial debt. Digital Financial Assets for 58 Million Yuan Issued by Russian Platform A licensed firm has finalized…
The most talked about crypto lawsuit involving the United States Securities and Exchange Commission (SEC) and Ripple is approaching its conclusion after a two-year-long battle. On Dec. 2 the SEC and Ripple both filed redacted replies to each other’s opposition to motions for summary judgment. Ripple argued in its motion document that the SEC has failed to prove that its…
A Chinese court in the city of Hangzhou has said nonfungible token (NFT) collections are online virtual property that should be protected under Chinese law. A Nov. 29 article posted by the Hangzhou Internet Court — a specialist internet court — shared by crypto blogger Wu Blockchain on Dec. 5 reveals the favorable language for NFTs after the country began…
Australian-based crypto exchange Swyftx has laid off a total of 90 staff members, which it said was in preparation for a “worst-case scenario” caused by the fallout of FTX and a potential fall in global trading volumes next year. The news was shared by Swyftx co-CEO Alex Harper in a Dec. 5 statement, noting that despite not having any exposure…
sponsored There’s a silver lining to the crash in the NFT market — millions of dollars of potential tax-savings. To help NFT investors claim their tax-savings before the end of the year, CoinLedger recently launched an NFT tax-loss harvesting tool. Let’s break down how the tool works and how it can help people save money on their tax bill. What…
Mike Novogratz-led investment firm Galaxy Digital Holdings has won the bidding to buy GK8, an institutional digital asset self-custody platform owned by Celsius Network — pending court approvals and certain closing conditions. According to a Dec. 2 blog post from GK8 and a press release from Galaxy, if the acquisition goes ahead, Galaxy will acquire the platform’s nearly 40-strong team as…
“Vox Populi, Vox Dei, man.” So says self-proclaimed Chief Twit Elon Musk from a private jet flying high above the world during a Twitter Spaces appearance on Sunday, Dec. 4 (JST). It does sound nice to say, but the voice of the mob should never be the voice of “God.” The reasons are myriad. Suffice it to say that in…
Reddit’ NFT minting hits new high Reddit’s nonfungible token (NFT) collection hit another milestone on Dec. 3 with a record 255,000 of its “avatars” minted in the one day. The new minting record beat the previous all-time highs on Aug. 30 and 31, which saw just over 200,000 Reddit avatars minted each day. The NFTs are primarily used on the…
The CEO of Blackrock, the world’s largest asset manager, says that most crypto companies will not be around following the collapse of crypto exchange FTX. However, the executive is still optimistic about blockchain technology. Blackrock’s CEO on FTX’s Collapse and Future of Crypto Larry Fink, the CEO of Blackrock Inc. (NYSE: BLK), the world’s largest asset management firm, talked about…
A recent photo of what appears to be former Alameda Research CEO Caroline Ellison in a Manhattan coffee shop in New York has been making the rounds on Twitter. On Dec. 4, two photos began circulating on Twitter, appearing to show Ellison ordering a coffee at the Ground Support Cafe in Manhattan. Adding some weight to the possible sighting, Gopher,…
