Web3 technology companies received $7.1 billion in funding in 2022, with gaming, metaverse, and social networks as the most popular investment areas, as reported by Metaverse Post’s year-end report. Metaverse Post’s report found that start-ups in gaming, metaverse, social networks,…
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New Italian Budget Law Imposes 26% Tax on Crypto Gains
Italy’s parliament has approved a new tax on cryptocurrency as part of the country’s budget law for 2023. Under the new law, cryptocurrency gains in excess of 2000 euros will be subject to a 26% tax rate during the tax…
Embattled FTX Founder Reportedly Cashes out $684K Shortly After Bail Release
According to on-chain data, FTX founder Sam Bankman-Fried is reportedly cashing out large amounts of cryptocurrency soon after being released on bail. Violation of Bail Terms? According to the on-chain investigation by DeFi educator BowTiedIguana, SBF cashed out $684,000 in…
Turkey Announces First Digital Lira Transactions
Turkey’s central bank announced in a press release on December 29 that the first transactions involving its digital lira had been completed successfully. Pilot Tests Into 2023 The Central Bank of the Republic of Turkey (CBRT) announced that the digital…
BMW Utilizes Coinweb and the BNB Chain For Its Blockchain Loyalty Program.
BMW plans to incorporate blockchain technology into its daily operations and develop a blockchain loyalty program for its Thai customers. Architecture and Transaction Infrastructure The well-known automaker has chosen blockchain infrastructure firm Coinweb as its decentralized architecture provider, as well…
Celsius Wants to Postpone Deadline For Claims As Legal Fees Top $53M
Celsius Network, a bankrupt cryptocurrency lender, intends to file a motion to extend the deadline for users to submit claims by another month. The cryptocurrency community has grown impatient, noting that Celsius’ legal fees have continued to increase and are…
Novogratz’s Galaxy Digital Saves Argo From Bankruptcy With $100M Mining Rig Acquisition
Michael Novogratz’s crypto-focused financial services firm, Galaxy Digital, will purchase Argo’s Helios Bitcoin (BTC) mining facility and provide an additional $35 million loan to assist with restructuring efforts. This was announced in an official press release issued by Argo Blockchain.…
One of largest crypto miner public company files for Bankruptcy
FTX bankruptcy has created a havoc in the crypto space and it’s taking lot of dependencies down with them. Crypto mining companies have faced downhill, particularly if they purchased miners using funds raised during the peak bull run without considering…
Solana takes a massive plunge and rumor says a story
Solana has had a significant decrease in popularity and value following the collapse of FTX and the ongoing bear market. There have been reports on social media about reduced development on Solana, but the Solana team has denied these claims…
The FTX Timeline, a Lesson on Fear and Greed
FTX was once perceived as a juggernaut in the crypto space. Its founder and CEO, Sam Bankman-Fried, was once touted to be crypto’s white knight in the ongoing bear market. But Sam’s charm and billions all turned to dust after…