Browsing:Crypto

Attorneys representing Sam Bankman-Fried
1 year ago 1 min read

SBF Lawyers Request Postponement of October Trial Citing Need for More Evidence

Attorneys representing Sam Bankman-Fried, the founder of crypto exchange FTX, have suggested that a delay of his October 2 criminal trial may be necessary. The lawyers argued that additional time may be required to thoroughly review the evidence and prepare a defense for the upcoming trial. In a letter to U.S. District Judge Lewis Kaplan, Bankman-Fried’s lawyers said that they were still waiting for a “substantial portion” of evidence to be turned over to them and that additional charges had been filed against their client in late February. They noted that, depending on the volume of the additional discovery and

Binance Charity Donates $100,000 in Georgia to Empower Women through Web3 Education
1 year ago 3 mins read

Binance Charity Donates $100,000 in Georgia to Empower Women through Web3 Education

Tbilisi, Georgia, 8th March, 2023 In celebration of International Women’s Day,  Binance Charity,  the philanthropic arm of Binance, the world’s leading cryptocurrency and blockchain infrastructure provider, has announced a $100,000 donation to Georgia’s Innovation & Technology Agency (GITA) to support web3 education and training. As a result of the partnership, more than 100 women will be able to study professional courses in Web3 and get support to move into the job market.  “We’re proud of our new partnership with GITA, which aims to diversify the Web3 industry by removing financial barriers to study and developing new courses. In celebration of International

Coinbase Receives $200 Million Bitcoin Transfer from US Government, Blockchain Records Confirm
1 year ago 2 mins read

US Government Transfers $200 Million in Bitcoin to Crypto Platform, Coinbase

The US government has made a significant transfer of Bitcoin to Coinbase, according to data from the cryptocurrency’s blockchain. Around 49,000 BTC worth roughly $1 billion, from wallets related to seizures of the now defunct darknet marketplace Silk Road, have started moving. Of this amount, the government sent 9,826 BTC worth $217 million to Coinbase, while an additional 39,175 BTC worth $867 million was transferred to two new addresses that appear to be internally controlled and not linked to any exchanges. Silk Road, created by Ross Ulbrich in 2011, was shut down in 2013. Ulbrich is now serving a life

Biden's Budget Proposal Could Impact Cryptocurrency Taxation Strategies
1 year ago 2 mins read

U.S. President Joe Biden’s Proposed Budget to Close Tax Loss Harvesting on Crypto Transactions

The U.S. President Joe Biden is set to unveil his proposed budget, and one of the provisions in it is aimed at closing the tax loss harvesting on crypto transactions. A White House official has confirmed that the budget will include a tax provision that aims to reduce wash sales trading by crypto investors. Currently, investors can sell any cryptocurrencies at a loss, claim the loss on their taxes, and then buy the same amount and type of cryptocurrencies again. According to the Wall Street Journal, this provision would raise up to $24 billion. The proposal is part of the

Indian Crypto Sector Shows Support for Govt's Anti-Money Laundering Plans
1 year ago 1 min read

Indian Crypto Industry Supports Govt’s Anti-Money Laundering Efforts

The Indian government has recently brought the crypto sector under the Prevention of Money Laundering Act (PMLA), which has sparked speculation about the future of cryptocurrency regulation in India. Under the new guidelines, all Virtual Digital Assets businesses must conduct and report various activities, such as Know Your Transactions (KYT), transaction monitoring and reporting, address screening and reporting, and Suspicious Activities Reports (SARs) and Suspicious Transactions Report (STRs). While the move has been met with mixed reactions, many industry stakeholders have welcomed the government’s decision to regulate the crypto industry in India. Nischal Shetty, CEO of the WazirX exchange, has

Transform Ventures establishes new blockchain subsidiary with $100M in assets under management
1 year ago 1 min read

Transform Ventures introduces new blockchain holding company with $100M assets under management

Transform Ventures and Alpha Sigma Capital’s parent company have recently co-invested in a new holding company, Alpha Transform Holdings (ATH), with the aim of accelerating blockchain investment and innovation. The holding company will be home to two new funds, the Alpha Liquid digital asset fund and the Aegean Fund, and will have $100 million in assets under management. The assets that will be included in ATH have been merged from Transform Ventures and Alpha Sigma Capital’s parent company, which includes a majority ownership in Content Syndicate, a Transform Ventures-backed content services company. ATH’s three focus areas include delivering suites of

Mizar Launches $MZR Token on Arbitrum and Unveils DeFi Roadmap
1 year ago 3 mins read

Mizar Launches $MZR Token on Arbitrum and Unveils DeFi Roadmap

London, United Kingdom, 8th March, 2023 Mizar, a social trading platform that boasts over 10,000 users and sees daily trades in the millions of dollars, is pleased to announce the launch of its $MZR token on March 9th, along with the disclosure of its ambition to introduce automatic and copy trading on both centralized and decentralized exchanges. Mizar aims to transform the crypto trading industry by enhancing its accessibility and profitability for all, with the ultimate objective of becoming the most popular social trading platform for crypto.  The $MZR token will serve as the native token of the Mizar ecosystem,

SOL Whales Transfer $60 Million to Coinbase
1 year ago 1 min read

Solana Whales Make Big Move: $60 Million in $SOL Transferred to Coinbase

A cluster of massive Solana whale wallets has recently caught the attention of the crypto community. According to data from whale monitoring service Whale Alert, these wallets have transferred over $60 million worth of $SOL to the Nasdaq-listed cryptocurrency exchange Coinbase in a series of transactions that suggest a single entity may be behind the movement of funds. The transactions were flagged by Whale Alert, which recorded a series of transfers worth between $12 million and $12.5 million of Solana to the US-based crypto trading platform. The transfers were completed within minutes of each other and involved between 599,999 and

MEXC Global Reports Record Volume Since Slashing Trading Fees
1 year ago 2 mins read

MEXC Global Reports Record Volume Since Slashing Trading Fees

Singapore, Singapore, 8th March, 2023 Cryptocurrency exchange MEXC Global has reported significantly increased trading volume since cutting its platform fees. The decision to cut trading fees arrived at a time when interest in the crypto market has been increasing, further amplifying demand for digital assets. Since MEXC Global announced it was slashing maker and taker fees on the platform, the exchange has seen renewed growth, mirroring the positive turnaround seen in the wider cryptocurrency market. The fees to trade spot and futures markets on MEXC Global have both dropped to zero for maker fees, and 0.02% for futures taker fees, representing some

Thailand's Finance Ministry
1 year ago 1 min read

Thailand Offers Tax Breaks for ICOs, but Crypto Industry Faces Conflicting Messages

Thailand’s Finance Ministry has announced that it will waive corporate income tax and value-added tax for companies conducting initial coin offerings (ICOs) for investment. This move is part of the military-backed government’s plan to provide alternative methods of raising capital through token issuance, in addition to traditional methods. According to reports, the government estimates that there will be approximately $3.7 billion worth of investment token offerings over the next two years. However, this will result in a tax loss of around $1 billion, a cost the government is willing to bear. Despite these tax incentives, there have been conflicting messages

Virtuous Hacker Returns $97,000 to Tender.fi, Demonstrating the Value of Ethical Hacking in Cybersecurity
1 year ago 1 min read

White Hat Hacker Rewarded $97,000 for Ethical Actions in Restoring Stolen Funds to Tender.fi

An ethical hacker has returned $1.59 million to the decentralized finance (DeFi) lending platform Tender.fi after exploiting the system. The stolen funds were returned in exchange for a bounty reward of 6% of the exploit value, or approximately $97,000 in Ethereum. Tender.fi is a decentralized platform that allows users to borrow and lend cryptocurrency assets. However, due to the complex nature of DeFi platforms, they are vulnerable to various security risks, including misconfigured oracles. The protocol underwent an unusual amount of borrows, leading the platform to halt all lending operations. A security analyst revealed that a hacker borrowed $1.59 million

FTX Lawyers and Accountants Charge Hefty Fees of Nearly $40M in One Month Alone
1 year ago 2 mins read

FTX Legal and Accounting Fees Skyrocket to Nearly $40 Million in One Month

Bankruptcy lawyers for embattled crypto exchange FTX have submitted a hefty invoice for their work, while creditors are seeking their BTC back from Grayscale. The phalanx of lawyers working with FTX on its bankruptcy case billed a whopping $38 million for their expenses in January. The epic bill is for a team of hundreds of lawyers, consultants, paralegals, and accountants, according to court documents. FTX administrators have retained law firm Sullivan & Cromwell as counsel. Furthermore, Quinn Emmanuel Urquhart & Sullivan were retained in addition to Landis Rath & Cobb. The firms were acting as special counsel for the proceedings.

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