ConsenSys issued a statement Feb. 7 in support of the appeal of the of Jarrett v. United States case concerning the taxation of staking rewards. The case originated in a dispute over a refund of about $4,000 that Joshua and Jessica Jarrett claimed on XTZ tokens they validated in 2019. The Jarretts claimed their staking rewards should be treated as…
Damian Williams, United States Attorney for the Southern District of New York, has petitioned the court to delay civil proceedings against former FTX chief executive officer Sam Bankman-Fried “until the conclusion of the parallel criminal case”. In Feb. 7 filings, Williams requested that the court issue an order staying civil proceedings as well as discovery from the U.S. Securities and…
U.S. prosecutors have asked that the fraud cases against FTX founder Sam Bankman-Fried not proceed until the conclusion of the government’s criminal case against him, according to court documents. Damian Williams, the main prosecutor overseeing the criminal case against Bankman-Fried, wrote that the Commodities Future Trading Commission and the Securities and Exchange Commission had both consented to the stay. Bankman-Fried,…
The devastating earthquake that hit Turkey on Feb 6 has left a trail of destruction in its wake, affecting numerous communities and individuals. In response to the tragedy, cryptocurrency exchangeBinance has announced that it will airdrop $100 USD worth of BNB tokens to all Binance users residing in regions hardest hit by the earthquake. The process of identifying eligible users…
Bitcoin swung upwards with stocks but then settled lower following Federal Reserve Chairman Jerome Powell’s comments that the central bank is beginning to get inflation under control. Powell cautioned, however, that it will take a long time to fully tame inflation. The digital asset first rose when the U.S. central bank chief spoke at the Economic Club of Washington, D.C.…
Several cryptocurrency companies—including Binance, Tether, Bitfinex, OKX, and Kucoin—have pledged over $9 million in donations to aid the victims of the massive earthquakes that hit Turkey and Syria early Monday morning. As the number of casualties continues to rise—more than 7,000 killed and over 20,000 injured—the collective effort demonstrates that the crypto community is again ready to step up to…
The NFT market is gaining steam again in 2023, as rising sales and trading volume data showed in January. Now there have been two more prominent signs of a rebound over the past 24 hours, as single Ethereum NFTs from the popular CryptoPunks and Bored Ape Yacht Club projects each sold for more than $1 million worth of ETH. Both…
On Feb. 6, 2023, law firm Kirkland & Ellis issued a subpoena to FTX co-founder Sam Bankman-Fried and top executives on behalf of Voyager Digital. The subpoena requested they produce documents and communications related to the “Alameda Loan Agreement” between Alameda Ventures and Voyager, as well as other important documents. Additionally, Voyager Digital has subpoenaed former Alameda Research CEO Caroline…
The Bank for International Settlements (BIS) plans to sharpen its focus on stablecoins and Central Bank Digital Currencies (CBDCs) in 2023, with the goal of “improving payment systems” and “securing the financial sector,” according to its latest report. Among its ambitions is Project Pyxtrial—an experiment launched by the Innovation Hub’s London Centre to help central banks systemically monitor stablecoins and…
Avalanche (AVAX) witnessed a meteoric start to 2023, gaining 98% in 30 days, and traders are now curious about whether the rally will extend throughout February. AVAX’s year-to-date gains for 2023 have outpaced those of Bitcoin (BTC) and Ether (ETH). Recent reasons for AVAX’s rally can be attributed to an Amazon partnership announcement on Jan. 11. The partnership is meant to…
