Solana is in the news today after it unveiled a new $100 million fund for South Korean web3 entrepreneurs. The funds were raised equally by Solana Ventures and the Solana Foundation, a Swiss organization that promotes the network’s growth.  They’ll be used to fund and support a variety of South Korean crypto-companies, with a particularContinue reading “Solana bids $100M On DeFi, GameFi in South Korea”

According to reports, Japan’s Justice Ministry is considering revising an asset seizure statute connected to organized crime. This is expected to include a provision allowing crypto to be hijacked in such cases. A possible modification of the Act on Organized Crimes and the Control of Proceeds of Crime (1999) would allow law enforcement authorities andContinue reading “Will a new Japanese law allow seizure of your crypto?”

According to Bloomberg, the U.S Securities and Exchange Commission is looking into whether Binance Holdings breached securities laws. These allegations pertain to when the exchange released its BNB cryptocurrency in an initial coin offering (ICO) five years ago. During the height of the so-called ICO frenzy, the Binance ICO took place in July 2017 onContinue reading “Binance, CZ under attack after new ICO-related allegations”

Mayor Tom Tate of Gold Coast, Australia, has suggested that people could use cryptocurrencies to pay local taxes in the future. However, detractors have raised concerns about volatility and the ongoing market fall. On 5 June, just over a week before the council is set to present its annual budget, Tate told local news stationContinue reading “Australia’s Gold Coast flirts with crypto-payments despite concerns”

Bermuda is the most recent jurisdiction to express a desire to be at the forefront of cryptocurrency legislation. It is presently planning to create a comprehensive and extensive crypto-regulatory framework. Bermuda’s government is pressing ahead with its ambitious aspirations to become a cryptocurrency powerhouse. According to Bermuda’s Minister of Industry and Labor Jason Hayward, theContinue reading “Bermuda is now the latest to set up crypto-hub plans”

According to a statement by Deputy Prime Minister Heng Swee Keat, the Monetary Authority of Singapore (MAS) has unveiled Project Guardian. This will be a collaborative endeavour with the financial industry to examine the economic potential and use cases of asset tokenization. Project Guardian will examine the feasibility of asset tokenization and decentralized finance (DeFi)Continue reading “Singapore’s MAS has a digital asset tokenization plan with ‘Guardian’”

In recent months, businesses all around the world have begun to integrate Bitcoin payments into their systems. As a result, more payment options will be available, and payment challenges will be reduced, particularly abroad. DraftKings is one of many institutional brands experimenting with blockchain, cryptocurrency, and non-fungible tokens. DraftKings, a popular sports betting and fantasyContinue reading “DraftKings puts out plan to to accept crypto-payments in the future”

Since the re-launch of the Terra ecosystem via Terra 2.0 on 28 May, the price of Terra (LUNA) has dropped by almost 70%. In the first 30 minutes of trade, the price skyrocketed from $0.30 to $20. The high, however, was short-lived, as the price dropped to barely $5.30 in the next three hours. OnContinue reading “Terra’s new revival plan and LUNA – All going as expected?”

According to CEO Mark Zuckerberg, Meta’s metaverse move will result in a “substantial” loss in the short run. During a shareholders’ meeting on 26 May, he went on to say that this will be profitable in the long run. For the time being, however, the company’s income growth will come from its Instagram Reels. AccordingContinue reading “Metaverse will lose ‘significant’ money in the short term: Mark Zuckerberg”

Ethereum’s Vitalik Buterin has offered two thought experiments on how to establish whether an algorithmic (algo) stablecoin is feasible in the long term. On 25 May, Buterin remarked that increased examination of crypto and DeFi in the aftermath of Terra’s meltdown is “really beneficial. However, he advised against dismissing any algo-stablecoins completely. Buterin’s comments wereContinue reading “Here’s Ethereum co-founder’s take on algorithmic stablecoins”

A proposal to tax Bitcoin and other cryptocurrencies was rejected by Portugal’s parliament today. Left-wing parties Bloco de Esquerda and Livre advocated taxing digital assets during a Wednesday evening budget discussion, but the motion was rejected, according to online daily ECO’s live blog. The suggestion requested that the government explore taxing cryptocurrency revenues over €5,000Continue reading “Portugal a crypto tax-free nation, again – At least for now”

Despite a huge sell-off in cryptocurrencies, JPMorgan believes that Bitcoin’s fair price is 28% higher than its present level. This would seem to signal a “significant upside from here.” In fact, the firm had also claimed that $38,000 would be a reasonable price for Bitcoin. Cryptos have also replaced real estate as one of the bank’sContinue reading “JPMorgan sees hope for Bitcoin as one of its leading ‘alternative assets’”