A day after DeFi platform Euler Finance was hacked for nearly $200 million, the company sent a message to the thieves in a very DeFi way: on-chain. “If 90% of the funds are not returned within 24 hours, tomorrow we will launch a $1M reward for information that leads to your arrest and the return of all funds,” the publicly…
Michael Burry, a hedge fund manager renowned for predicting the 2008 financial crisis, has drawn parallels between the current banking turmoil and the Panic of 1907. He noted that three weeks after J.P. Morgan made a stand, the panic was resolved and the markets bottomed. “A stand was made this past weekend,” the famous investor pointed out. Michael Burry on…
The NFT space was booming last March when Formfunction—a Solana marketplace focused on one-of-one, single-edition artwork—announced that it had raised nearly $5 million in funding from prominent backers. Just one year later, however, amid changing tides in the NFT world, Formfunction revealed that it’s closing up shop. The company announced the decision today, writing that it will shutter its NFT…
The NFT space was booming last March when Formfunction—a Solana marketplace focused on one-of-one, single-edition artwork—announced that it had raised nearly $5 million in funding from prominent backers. Just one year later, however, amid changing tides in the NFT world, Formfunction revealed that it’s closing up shop. The company announced the decision today, writing that it will shutter its NFT…
In the wake of three major banks with ties to crypto firms collapsing, software engineer Molly White believes companies now looking at banking options may have to face “shadier” solutions. Speaking on March 14 at a South by Southwest (SXSW) panel in Austin, Texas on ‘Popping the Web3 Bubble’, White opined that crypto firms’ options following the collapse of the…
Salesforce, a customer relationship management software firm announced the limited release of Salesforce Web3 on March 15. The company said it will be a platform that helps companies create, manage, and deploy non-fungible tokens (NFTs) in a trusted, scalable, and sustainable way. The service will allow brands connect with their customers in a whole new way by integrating their Customer 360 with…
Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget. New Criminal Offenses Planned by U.K. Government to Combat Tax Avoidance Amid the chaos in the banking sector following the collapse of Silicon Valley Bank’s U.K. subsidiary, finance minister Jeremy…
Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget. New Criminal Offenses Planned by U.K. Government to Combat Tax Avoidance Amid the chaos in the banking sector following the collapse of Silicon Valley Bank’s U.K. subsidiary, finance minister Jeremy…
Sam Bankman-Fried is seeking to use FTX’s insurance policies to cover his legal expenses, according to a court filing on March 15. The former FTX CEO’s legal counsel requested in a motion to permit insurers to advance or reimburse his defense costs and fees under directors and officers (D&O) insurance policies held with Relm Insurance and Beazley Insurance. As per…
How have nearly 3,000 Africans adopted Bitcoin—often called “the internet of money”—without actually having access to the internet? The answer lies with Machankura, a tool built by software developer Kgothatso Ngako for using Bitcoin with nothing but a feature phone. No computer, smartphone, or internet service is required. “I had set up a raspberry pi running both a Bitcoin and…
