CEO and founder of hedge fund Three Arrows Capital (3AC) Zhu Su tweeted that he has “abandoned Ethereum despite supporting it in the past,” before making a U-turn on the statement. In the Nov. 21 thread, Su claimed that Ethereum culture “suffers massively from the Founders’ Dilemma,” and that “everyone is already far too rich
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South Korean government officials have created confusion this year with conflicting announcements regarding a possible repeal or amendment of the upcoming crypto tax set to come into effect in 2022. Throughout 2021, debate has increased in intensity in the National Assembly, South Korea’s legislature, about whether, or how, to amend the crypto tax. If unchanged,
Today, Ripple is releasing a framework for cryptocurrency and digital asset regulation: A Real Approach to Cryptocurrency Regulation. This approach is designed to offer an immediate and pragmatic way forward that accounts for the dynamic capabilities of cryptocurrency and digital assets. We believe the best public policy outcomes can be achieved by public-private collaboration, adapting
In a statement released to customers on Tuesday, Israeli cryptocurrency exchange eToro announced it would delist Cardano (ADA) and Tro (TRX) for United Stat customers by the end of the year. After Dec. 31, U.S. users will no longer be able to open new positions in the tokens nor stake ADA and TRX. In addition, wallets
SAND, the native token of the Sandbox — a blockchain-based gaming platform owned by Animoca Brands, inched higher on Tuesday, building on its gains made all across November, to reach another record high. SAND token price rose to $5.64 after swelling 16.25% intraday but retraced some of those gains to trade at $5.54 at the press time.
It’s true, Tim Draper has picked losers. He tells me this even before I ask him. The VC legend who backed Hotmail, Tesla, SpaceX, Coinbase, Ledger and many other successful companies readily coughs up that he has invested in lemons. Some, he says, have totally gone out of business, but others just didn’t give him
Creating a cryptocurrency from scratch isn’t easy. It requires extensive knowledge of various programming languages and knowledge of blockchain use cases, among other things. Instead of going through that effort, those newer to the crypto space wanting to build their own project tend toward tokens. Tokens are a crypto asset that exists within an ecosystem,
South Korea’s Financial Services Commission, or FSC, announced Tuesday that nonfungible tokens, or NFTs, will be taxed starting next year. According to The Korea Herald, this tax law amendment would impose a 20% tax on income from virtual assets that exceed 2.5 million won ($2,102) as of Jan. 1, 2022. The FSC’s vice chairman Doh
The founder of Africa-focused media and investment company Footprint to Africa, Osita Oparaugo, has urged governments on the continent to embrace cryptocurrency. Africa Must Not Be Left Behind Osita Oparaugo, founder of Footprint to Africa, has argued that a timely embrace of cryptocurrencies by African governments would be beneficial to the continent’s growth prospects. In
Bitcoin (BTC) whales are moving large amounts of coins to exchanges in tandem with large outflows, curious new data shows. According to the exchange whale ratio indicator from on-chain analytics firm CryptoQuant, large transactions have accounted for over 90% of recent exchange deposits. Top 10 deposits make up 90% of exchange inflows In a marked
Blockchain innovation is surging throughout Southeast Asia, as the region is home to a number of fintech firms and global crypto companies. In particular, Singapore has become one of the world’s most crypto-friendly countries. This was recently highlighted in a report conducted by crypto exchange Gemini, which found that 67% of 4,348 respondents currently own
Matt Comyn, the CEO of the Commonwealth Bank of Australia (CBA), said that the bank is more concerned about the risks of missing out on crypto than those associated with its adoption. The CBA is set to become the first of the “big four” banks in Australia to offer crypto-based services, after the company announced
The Lord of the Rings-themed ‘JRR Token’ has met a “bag end” after being forced to shut shop following legal action from the family and estate of the famed series’ author. J.R.R. Tolkien who died in 1973. On Nov. 23, Law360 reported that the Tolkien Estate had reached a settlement with Florida-based developer Matthew Jensen
Cooler heads are calling for a collective deep breath and a step back to see the long-term outlook for the future of Bitcoin (BTC) price and the wider crypto market, but today’s drop back under $56,000 is raising eyebrows among traders. Data from Cointelegraph Markets Pro and TradingView shows that after starting the week near
As the state of Texas faces a rapid influx of Bitcoin mining operations, its electrical infrastructure will have to support the industry’s expected 5,000 megawatts (MW) of additional power demands by 2023. The Bitcoin mining industry in Texas currently consumes around 500 to 1,000 MW of power. The Electric Reliability Council of Texas (ERCOT) anticipates
The Ethereum community has been hard at work over the past few years, laying the foundation for its shift away from its current proof-of-work (PoW) algorithm which has formed the backbone of the blockchain’s operation up until today. Ethereum’s switch to its proof-of-stake- (PoS-) powered Ethereum 2.0 chain is edging closer to reality, with recent