The bearish trend in the cryptocurrency market is precipitating job losses and biting cash crunches. The overall decline is affecting crypto assets and firms in various ways. Following the demise of the FTX crypto exchange, many individual and institutional investors…
Leading US Bank to Cut $10 billion from Crypto-Related Deposits
As volatility grips the digital asset sector, it has been reported that Signature Bank, a prominent US financial institution, will reduce the dollar amount of deposits linked to cryptocurrencies by approximately $10 billion. 23% Of Deposits Targeted At an investor…
SEC Provides Companies with A Sample Letter Regarding Crypto Asset Markets
The Securities and Exchange Commission (SEC), in a new guideline released on Thursday, requires entities that issue securities to disclose to investors their exposure to possible risk in the cryptocurrency market. Guide For Crypto Asset Markets The guideline was made…
Italy’s 2023 Budget Proposes 26% Crypto Income Tax
In addition to the recent actions taken by Portugal, another European country intends to raise taxes on cryptocurrency trading. The proposed budget for 2023 in Italy includes a provision that would tax capital gains from cryptocurrency at a whopping 26%.…
Billion-Dollar Binance Crypto Recovery Initiative Pulls In $50 Million From 7 More Investors
The largest cryptocurrency exchange in the world, Binance, has announced the launch of the $1 billion Industry Recovery Initiative, which will support struggling crypto businesses. With that piece of news blowing up the crypto space, 7 additional businesses are now…
New York Governor Bans Crypto PoW Mining For 2 Years
On November 22, New York Governor Kathy Hochul officially enacted a two-year ban on proof-of-work (PoW) crypto mining, making it the first state in America to do so. Mining Now Restricted to Green Companies The PoW mining moratorium will not…
JPMorgan Registers Trademark For Crypto Wallet, Announces New Crypto Services For Customers
The “J.P. Morgan Wallet” has been legally registered and patented by JPMorgan with the US Patent and Trademark Office, according to a formal document released on November 21, 2022. (USPTO). JP Morgan’s Crypto Plans The legacy bank will start providing…
Binance Pulls Out Of FTX Deal, Leaving Exchange On the Precipice, and Investors Gutted
Sam Bankman-Fried’s crypto empire is in danger of collapsing as a result of Binance’s decision to abandon its acquisition of FTX, the business announced on Wednesday. The decision to reverse course was made just one day after Binance CEO Changpeng…
China Has A $3.9 Billion Bitcoin Stash Despite Hostile Crypto Stance
The Chinese government is a crypto whale, according to Ki Young Ju, co-founder of CryptoQuant, despite its hostile stance toward the sector. Young Ju claims that China has seized $6 billion worth of cryptocurrencies from the PlusToken scam in 2019,…
Zimbabwe Pushing On With CBDC Plans, Draws Lessons From Nigeria
Despite the country’s waning interest in cryptocurrency, Zimbabwe does not appear to be ready to abandon its cryptocurrency aspirations, according to sources. Not only is Zimbabwe not giving up, but it is also taking notes from Nigeria when it comes…
Tornado Cash Receives $3.3M in Ether Following Poloniex Hack Theft
In a shocking incident that sent shockwaves through the cryptocurrency community, a skilled hacker managed to steal a staggering $125 million from Poloniex’s hot wallets in November. The audacious heist, which exploited vulnerabilities in the popular exchange’s security systems, showcased…
Bitcoin’s Long-Term Investors Now Possess More Than 76% of All BTC for the First Time. Details below
In the ever-fluctuating world of cryptocurrencies, Bitcoin, affectionately known as BTC, is currently undergoing a transformation that is sending shockwaves through the market. Regardless of whether you are an experienced BTC price speculator or a newcomer to the crypto arena,…
