Earlier this month, Euler Finance, a decentralized finance (DeFi) protocol, fell victim to a $200 million exploit. However, in a surprising turn of events, the hacker responsible for the attack decided to return a majority of the stolen funds to…
Treasury Department and IRS Seek Feedback on Tax Treatment of NFTs as Collectibles
The Treasury Department and Internal Revenue Service (IRS) have announced plans to solicit feedback regarding the tax treatment of nonfungible tokens (NFTs) as collectibles under tax law. The guidance also requests comments on NFTs as collectibles and outlines the IRS’s…
Sony Files Patent for NFT Framework in Gaming Exploring Cross-Platform Gaming with NFTs
Sony has recently published a patent titled “NFT Framework For Transferring And Using Digital Assets Between Game Platforms,” which delves into the potential of using NFTs in video games. The patent explores how NFTs can be played with and transferred…
Over 1,200 German Banks to Offer Bitcoin Trading for Retail Customers: A New Era of Crypto Accessibility
In a major development for the cryptocurrency sector, more than 1,200 German banks are now able to offer Bitcoin trading services to their retail customers. This groundbreaking move signifies increased mainstream adoption of cryptocurrencies and opens new doors for retail…
Why did Shib bun rate increase this week to 1300%?
The burn rate of Shib Inu has significantly increased in March compared to February. This is possibly because of Koyo project and Puppynet, a lesser-known initiative built on Shibarium. The launch of Puppynet has led to a staggering 1,300% spike…
Tether’s Robust Growth: Excess Reserves Reach $1.6 Billion to Back USDT Stablecoin
Tether, the company behind the widely-used USDT stablecoin, has recently announced an estimated $700 million profit for the March quarter, pushing its total excess reserves to approximately $1.6 billion. This impressive growth underlines the company’s commitment to maintaining a strong…
Xapo Bank Makes History: Becoming the First Bank to Fully Integrate with USDC Stablecoin
Xapo Bank has achieved a groundbreaking milestone by becoming the first bank to fully integrate with the USDC stablecoin. This pioneering integration aims to provide users with greater flexibility, ease of use, and access to a wide range of financial…
Wyoming’s ‘Crypto Queen’ Senator Cynthia Lummis Advocates for Fair US Crypto Regulations
Senator Cynthia Lummis has emerged as a leading advocate for cryptocurrency regulation and adoption in the U.S. Senate. As the first senator to publicly disclose her Bitcoin holdings, Lummis has been vocal about the need for a balanced approach to…
Weekly Crypto and Blockchain Roundup: Market Rally, NASDAQ’s Custody Services, and More
This week has been a rollercoaster ride for the crypto and blockchain space, with significant market rallies, NASDAQ’s announcement of crypto custody services, and major developments across the industry. In this blog post, we’ll take a closer look at the…
NASDAQ Crypto Custody Services Set for Q2 2023 Launch: A New Era in Digital Asset Management
The world of digital assets is about to witness a significant shift as NASDAQ, the global securities exchange, gears up to launch crypto custody services by the end of the second quarter of 2023. This move will see the well-established…