Author: Trishla Tyagi

Jesse Powell, the CEO of Kraken, explains why the company’s offices in San Francisco were shut down. One of the first Bitcoin exchanges was Kraken. They also had a headquarters in New York. However, in 2015, New York adopted a harsh BitLicense law, prompting Powell to permanently remove Kraken from the Big Apple. Powell chose to remove Kraken from San Francisco in April. Because of the growing lawlessness in the city, such as crimes and drug addiction, Powell decided to throw in the towel and close the headquarters in San Francisco. Powell: Frisco is Deteriorating In terms of safety and…

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New rules governing the issuance of digital assets have been announced by Nigeria’s securities regulator. Platforms that offer digital assets must also register under the new regulations. Application for Initial Assessment The Nigerian Securities and Exchange Commission (SEC) has issued new guidelines for the issuance of digital assets as securities. The guidelines also cover the registration requirements for platforms that supply digital assets (DAOPs). The new set of guidelines that the commission just released covers virtual asset service providers (VASPs) and digital asset exchanges. Individuals or businesses intending to generate cash through a coin offering or a private sale of…

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RCD Espanyol partnered up with Crypto Snack to become the first La Liga team to accept cryptocurrency as payment for tickets. RCD Espanyol, a professional soccer team situated in Catalonia, Spain, will allow supporters to pay for game tickets, merchandising, and food and beverages in a variety of cryptocurrencies. With the start of the upcoming La Liga season, the offering will be available (August 2022). La Liga’s First Crypto-Friendly Team Over the last few months, digital assets and the soccer industry have developed a close link. Several clubs from across the world have established collaborations with cryptocurrency businesses, introduced exchanges…

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Mobius Capital founder and veteran investor Mark Mobius has warned crypto traders against using the “buy the dip” strategy. He believes bitcoin’s price will continue to fall, with some temporary relief at $20,000. Mark Mobius’ Bitcoin Price Forecast and Alert Mark Mobius, the founder of Mobius Capital Partners, urged crypto traders against buying the plunge. He also revealed his bitcoin price estimate and prognosis. Mobius was the executive chairman of Templeton Emerging Markets Group before launching his own firm. He joined Templeton in 1987 and oversaw portfolios worth more than $50 billion in emerging economies. While conceding that some crypto…

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Chile’s Central Bank has stated that it is looking into creating a national digital currency, the digital peso. The bank published research titled “Issuance of a Central Bank Digital Currency in Chile,” which looks into the prospect of a central bank digital currency (CBDC) being created in the future, the method it might employ, and how it will consult all sectors of the economy on the matter. Chile’s Central Bank is Considering Issuing CBDCs More banks in Latin America are considering issuing their own central bank digital currencies (CBDCs) in order to take advantage of the various opportunities they may…

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Although the quick decline of Bitcoin and other top cryptocurrencies like Cardano (ADA) appears to have paused, it appears that large-scale investors, also known as whales, have taken advantage of the sinking market to increase their token holdings, particularly in Cardano (ADA). Indeed, according to data released on May 13 by the on-chain and social analytics platform Santiment, Cardano whales were the most active they’d been since January, when the ADA price hit a low of $0.40 on May 12. ADA, for example, saw 1,085 transactions worth more than $100,000; Santiment tweeted: Between 8 a.m. and 12 p.m. UTC, Cardano’s…

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The assumption that Bitcoin (BTC) is a safe haven against inflation has been called into question in light of recent global market volatility, and the flagship digital asset has suffered considerable downward pressure in recent weeks and months. Saifedean Ammous, an Austrian economist and author of “The Bitcoin Standard,” discussed the benefits of Bitcoin. Ammous spoke on the merits and drawbacks of Bitcoin at a time when issues like excessive inflation are wreaking havoc on economies all over the world, and the asset is currently in a bear market. The economist said on these worldwide issues: “I believe that a…

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The German Finance Ministry has announced certain changes to its cryptocurrency policies. Individuals who hold bitcoin and ether for more than a year will not be taxed on their sales, according to the authorities. Germany’s Ministry of Finance has sent a letter about the taxation of digital assets like bitcoin (BTC) and ether (ETH). After consulting with the federal states’ highest tax authority, lawmakers resolved to make BTC and ETH sales tax free if they were kept for more than a year. Even if the coins were used for staking or lending, the policy will apply. The sale of Bitcoin…

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Since its inception, the PancakeSwap team has received over 11 million CAKE votes, with the majority of participants preferring the v2 evolution. PancakeSwap, the Binance Smart Chain-based decentralized finance (Defi) software known for its automated market maker service and whimsical branding, has issued a governance proposal for the second iteration of its tokenomics roadmap. The revised version of the litepaper’s centerpiece indicated a supply cap on CAKE, the project’s native token. According to quantitative data validated, the current circulating supply is 293.4 million, with a maximum amount of 750 million suggested in the paper. A 24-hour governance voting window was…

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According to CEO Brian Armstrong, the Nasdaq-listed cryptocurrency exchange Coinbase ceased operations in India a few days after opening owing to “informal pressure” from the country’s central bank, the Reserve Bank of India (RBI). Coinbase Discusses its India Experience During the company’s earnings call on Tuesday, Coinbase Global provided an update on its Indian operation, including why it quit the Indian crypto market just days after its inception. Some shareholders are curious about the recent developments in India, said Anil Gupta, vice president of Investor Relations at Coinbase. Can you explain why UPI [Unified Payments Interface] transfers have been halted…

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In an extended Twitter thread on May 11, Do Kwon, the co-founder of Terraform Labs, the group that backs both TerraUSD (UST) and Terra (LUNA), announced a long-awaited recovery strategy. “Before anything else, the only path forward will be to absorb the stablecoin supply that wants to exit before $UST can start to repeg,” Kwon said after nearly half a day of silence. There’s no avoiding it.” The LUNA Value is Plummeting due to the De-Peg Fiasco Terra USD (UST), an algorithmic stablecoin, has been de-pegged from the dollar. The disaster, which upset the ecosystem’s burning and minting mechanisms, wiped…

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The VeChain Foundation has released its financial report for Q1 2022, revealing that the project accumulated a $1.2 billion contingency fund but only expended $4.1 million throughout the quarter. The VeChain Foundation’s financial report for Q1 2022, released on May 10, details its balance sheet as of March 31 and how monies were used throughout the quarter. The Treasury started the year with $1.37 billion in assets spread over stablecoins, Bitcoin (BTC), Ether (ETH), and VET, but by the end of the year, it had only $1.2 billion. The majority of the losses were sustained “due to crypto market fluctuations…

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De Beers one of the world’s largest diamond producers, recently announced the large-scale launched of its blockchain-based diamond source platform. The provision of provenance information from source to sightholder for storage on a secure blockchain,” according to the platform. Eternal Metadata Track of a Diamond De Beers, one of the world’s largest diamond miners, recently announced that it had successfully launched a blockchain-based diamond source platform at scale. The Tracr platform allows so-called sightholders to “create an immutable record of a diamond’s provenance, and[empowers jewelry sellers to have confidence in the origin of the diamonds they purchase. According to a…

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Chainflip Labs, a Berlin-based business developing a decentralized cross-chain crypto exchange, has raised $10 million in venture capital funding. Chainflip stated that it has received funding from Framework Ventures, Blockchain Capital, and Pantera Capital in exchange for stock in the company. There was no estimate given. “We’re not only attempting to construct something that can bridge tokens from one chain to another,” he explained. “We’re aiming to create something that can take over the job of the centralized exchange in crypto because they’re still the most popular solution.” While Harman acknowledges that decentralized exchanges such as the Ethereum-based Uniswap have…

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Madonna has released her first NFT collection, a series of videos featuring a digital Madonna graphically giving birth to various flora and fauna, in collaboration with artist Beeple. https://twitter.com/Madonna/status/1524123647119867905 Madona’s NFTs feature vivid visuals of a tree, butterflies, and, in one of my personal favourites, robot centipedes issuing from the singer’s vaginal canal. They also show Madonna reading poetry in a threatening tone, a combination of her own lines and those of Persian poet Rumi. According to Madonna, Mother of Creation took a year to create with Mike Winkelmann (also known as Beeple). On Wednesday, the three NFTs will be…

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KuCoin a cryptocurrency exchange revealed that it had raised $150 million in a funding round headed by Jump Crypto, the investment arm of Jump Trading, a US-based proprietary trading firm. Circle Ventures, the venture capital arm of Stablecoin issuer Circle, as well as investment firms IDG Capital and Matrix Partners, were among the other investors in the round. KuCoin is now worth $10 billion, according to the business. https://twitter.com/kucoincom/status/1523982726767935488 KuCoin plans to use the cash to expand its footprint in Web3, the next generation of the internet based on blockchains, beyond centralized trading platforms. The Seychelles-based firm will expand its…

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Qualcomm, one of the world’s leading fabless mobile chip manufacturers, is bullish on the metaverse’s future prospects for businesses and consumers. While there is more work to be done in the development arena, Qualcomm CEO Cristiano Amon feels that this development is real and will provide a huge opportunity for those involved. Qualcomm’s CEO Discusses the Metaverse’s Future Hardware manufacturers are beginning to see the current metaverse push in the software sector as a promising market to enter. Qualcomm, one of the largest fabless chip manufacturers in the world, is focused on the potential impact of this new technology on…

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El Salvador has purchased the bitcoin price drop. The Salvadoran president declared that his country has purchased 500 additional bitcoins amid a severe crypto market sell-off. The Salvadoran government has purchased 2,301 bitcoins since the cryptocurrency was made legal tender in El Salvador. El Salvador Invests in Bitcoin Nayib Bukele, the president of El Salvador, declared on Twitter on Monday that his country had purchased 500 additional bitcoins. “El Salvador has just purchased the dip!. https://twitter.com/nayibbukele/status/1523742670044413954 He wrote, “500 coins at an average USD price of $30,744. His remark came as the crypto market lost billions of dollars and bitcoin’s…

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Even after a UN report said that limitations on digital currencies are suffocating the country’s fintech sector, Nigeria’s central bank has improved its eNaira to steer the country away from crypto. The Central Bank of Nigeria (CBN) is moving on with plans to expand the usage of the country’s central bank digital currency (CBDC) to a wider range of goods and services. It also maintains severe crypto regulations that have hampered the country’s fintech industry. According to a report from Vanguard, CBN Branch Controller Bariboloka Koyor spoke at a market in the country’s most populous metropolis of Lagos on May…

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The Department of Justice (DOJ) has charged Luiz Capuci Jr., the CEO and co-founder of crypto mining and investment platform Mining Capital Coin (MCC), with “supposedly orchestrating a $62 million global investment fraud conspiracy.” Capuci “managed a fraudulent investment scheme, diverting investor cash to cryptocurrency wallets under his control rather than mining fresh cryptocurrency as promised,” according to the DOJ. In connection with various allegedly fraudulent operations run via MCC, the DOJ has charged Capuci with conspiracy to commit wire fraud, conspiracy to commit securities fraud, and conspiracy to engage in international money laundering. He risks a maximum prison sentence…

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