Crypto News

The US is lagging in stablecoin adoption due to regulatory challenges

October 19, 2024 1 min read

In 2024, the growth of stablecoins in the United States has hit a snag, even as Bitcoin gains traction following the introduction of spot Bitcoin exchange-traded funds. Recent studies indicate a drop in transactions on US-regulated platforms, primarily due to regulatory hurdles and limited adoption domestically. In contrast, stablecoins from emerging markets are experiencing a surge in usage. Around the world, stablecoins are increasingly being utilized for value transfers and

Worldcoin rebrands to ‘World’ and introduces several new features

October 18, 2024 1 min read

Worldcoin has officially rebranded itself as “World,” a change announced by co-founders Sam Altman and Alex Blania during a recent event in San Francisco on October 17. This rebranding comes alongside exciting updates aimed at expanding their blockchain-based identity verification technology, which focuses on establishing ‘proof-of-humanity.’ A significant highlight of the event was the introduction of a new version of their biometric identification device, the Orb. This next-generation Orb is

Binance Labs invests in Lombard, a Bitcoin liquid staking platform

October 18, 2024 1 min read

Binance Labs has recently invested in Lombard, a platform specializing in Bitcoin liquid staking, with a strong emphasis on security and enhancing cross-chain DeFi capabilities. While the specific investment amount remains undisclosed, this partnership underscores Binance Labs’ dedication to helping Lombard grow into a multi-chain staking protocol. Lombard’s LBTC token has rapidly gained popularity, capturing 40% of the Bitcoin liquid staking token market. The company aims to build on this

Grayscale files to convert its $524M Digital Large Cap Fund into an ETF

October 17, 2024 1 min read

Grayscale Investments is making strides in the crypto space by seeking approval from the US Securities and Exchange Commission (SEC) to transform its Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF). This fund, which currently trades over the counter, provides investors with a diversified portfolio that includes major digital currencies like Bitcoin, Ether, Solana, Ripple, and Avalanche. With $524 million in assets under management, the GDLC primarily focuses

Italy plans to raise the capital gains tax on crypto from 26% to 42%

October 17, 2024 1 min read

Italy is gearing up to raise its capital gains tax on Bitcoin and other cryptocurrencies from 26% to an eye-popping 42%. This announcement came from Vice Economy Minister Maurizio Leo during a press conference about the country’s 2025 budget, where he outlined new measures aimed at generating funds to support families, youth, and businesses. This tax overhaul represents a major departure from the existing framework that has been in place

Tesla moves 11,500 BTC worth $765 million in October 2024

October 16, 2024 2 mins read

Elon Musk’s Tesla has recently made headlines in the crypto world by transferring around 11,500 Bitcoin, valued at around $765 million, marking its first major Bitcoin activity in over two years. This transaction, which took place on October 16, 2024, involved multiple smaller transfers to new, unidentified wallets, none of which are linked to cryptocurrency exchanges. This has led to speculation that Tesla might not be looking to sell its

Bitfinex hackers sentence have come up for discussion

October 16, 2024 1 min read

In a notable development, the U.S. government has proposed prison sentences for Ilya Lichtenstein and his wife, Heather Morgan, in connection with the infamous Bitfinex hack of 2016. This security breach, which resulted in a staggering loss of $6 billion, continues to be a hot topic in the crypto world. In a recent court filing, prosecutors are seeking a five-year sentence for Lichtenstein while recommending 18 months for Morgan, who

Solana’s total value locked surpasses $6 billion in October

October 15, 2024 1 min read

In October, Solana achieved a remarkable milestone, with its total value locked (TVL) exceeding $6.1 billion, the highest it has been since January 2022. This surge indicates a growing trust and engagement among users on the platform. TVL is an important metric in decentralized finance (DeFi) that reflects the total value of assets held in various projects. An increase in TVL typically points to more users investing their assets in

Ethereum’s daily active addresses surges by over 20%

October 15, 2024 2 mins read

Ethereum is currently experiencing a notable increase in user engagement, with daily active addresses rising by 21%. This surge in activity typically suggests a growing user base, which could support price increases. However, despite this uptick, Ethereum’s price remains under pressure, hovering around $2,533. Traders are actively selling, which has made it difficult for the token to break through significant resistance levels. The rise in unique addresses conducting transactions indicates

NEIRO soars over 5000%, hitting a new high

October 15, 2024 1 min read

NEIRO, a token on the Ethereum network, has experienced an astonishing rise of over 5000% in just a month, even reaching a new all-time high before pulling back slightly. However, this rapid increase has led to signs that a market correction may be on the horizon, as traders start to cash in on their profits. Currently, NEIRO appears to be facing a potential short-term price drop, with its Relative Strength

Ripple CEO Brad Garlinghouse accuses the SEC of defying court rulings on XRP

October 15, 2024 1 min read

The ongoing clash between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) shows no signs of resolution. Recently, Ripple’s executives took to social media to voice their discontent, claiming that the SEC has disregarded a recent court ruling regarding XRP. Stuart Alderoty, Ripple’s Chief Legal Officer, continues to challenge the SEC’s assertion that XRP qualifies as a security, despite a favorable ruling from the court. Ripple’s CEO, Brad

South African tax authorities require citizens to declare crypto assets under new rules

October 15, 2024 1 min read

The South African Revenue Service (SARS) has recently urged taxpayers to declare their cryptocurrency holdings as part of its Voluntary Disclosure Programme (VDP). This move comes in light of the increasing popularity of digital currencies like Bitcoin and Ripple’s XRP among South Africans. With the rise in crypto transactions, SARS’ announcement was anticipated, especially after the Financial Sector Conduct Authority (FSCA) classified cryptocurrencies as financial instruments. A recent survey indicates