Diana Pires, Crypto.com’s Senior Vice President of Institutional Sales, was recently one of the speakers at Blockworks’ Digital Asset Summit. In a view that might be contrary to those aired by some in the community, she said, the “overarching demand in the crypto-sector is regulations.” In fact, while speaking about bridging gaps between retail andContinue reading “Why ‘the overarching demand’ isn’t as easy as it sounds for DeFi”

Bitcoin is trading over $55,000 at press time after rising over 25% in the past week. JP Morgan stated that the recent rise is on the back of three major reasons, as stated by reports. US assurance Following the China ban that rendered cryptocurrency ‘illegal’, the market experienced a short-term weakness. Soon after, the marketContinue reading “Everything you need to know about what led to the week-long Bitcoin rally”

Alexander Höptner, CEO of BitMEX, responded to Bitcoin critics in a recent blog post. He praised El Salvador’s policy decision, while also commenting on crypto-adoption in emerging markets. He said, “What the critics fail to recognize is that developing countries like El Salvador are leading the world in embracing decentralized digital currencies and payments.” HöptnerContinue reading “BitMEX CEO thinks this will drive Bitcoin adoption in 2022”

New Zealand-based cryptocurrency marketplace Easy Crypto is seriously considering an IPO after securing funding of $17 million. Easy Crypto’s funding was reportedly oversubscribed. Many domestic and foreign players led the round, including Nuance Connected Capital, Pathfinder KiwiSaver, Ice House Ventures, Hutt Capital, and Seven Peaks Ventures. According to Adrien Gheur, Founding Partner of Nuance Capital, “EasyContinue reading “New Zealand’s Easy Crypto secures $17M in funding as IPO plans loom”

Sri Lanka has approved a policy proposal on blockchain technology and its applications in Sri Lanka. The framework is aimed at digitizing the economy and will cover digital banking and crypto-mining. Sri Lankan Cabinet Minister Namal Rajapaksa tweeted that a forward-thinking and proper regulatory framework will ensure that the country leads the digital economy inContinue reading “Sri Lanka reveals plans to look into ‘digitizing economy’ via blockchain, crypto”

“Bitcoin is a system of software rules, with no rulers.” Alyse Killeen, the Managing Partner of StillMark, recently commented on the possibility of DeFi innovation on Bitcoin, in an interview with Blockworks. In the past, the DeFi boom in the industry has largely been on the back of Ethereum. However, the Bitcoin venture capitalist believesContinue reading “Is Bitcoin ready to shoulder the next-gen DeFi boom”

South Korea has been witnessing a surge in the use of cryptocurrencies in illegal foreign exchange transactions. While the uptrend was witnessed after the onset of Covid-19, local reports suggest that 2021 numbers exceeded the figure from last year. It was estimated to be worth around 812 billion won ($688 million) in virtual asset exchangeContinue reading “Rise in illegal crypto transactions, as efforts for stricter regulations ramp up in South Korea”

The recent bug-incident related to the Compound Finance upgrade resulted in a loss of over $80 million worth of COMP. In this regard, Compound Labs founder Robert Leshner had earlier said that the total COMP at risk was about 280,000 tokens at worst. But, he has updated on Twitter that the risk was in factContinue reading “Losses of up to 490,000 COMP estimated, due to bug in Compound Finance upgrade”

Japan national authorities are clamping down on crypto investors who have been evading taxes. Local reports suggest that a large-scale tax audit on individuals found tax evasion to the tune of 1.4 billion yen or close to $12 million. It was reported that several profited from trading ADA at its surge. In this context, theContinue reading “Cardano traders in Japan under scrutiny for potential tax evasion”

Miami Mayor Francis Suarez took to Twitter to announce that MiamiCoin Wallet made one million dollars in a day, with the balance surpassing $9 million at press time. MiamiCoin Wallet was started with the idea to collect city funds without imposing taxes on the residents along with rewarding the investors. The mayor had also previouslyContinue reading “Miami Mayor discusses role of crypto in the future of governance “

Texas, which is one of the biggest beneficiaries of the China mining ban, is set to host its largest Blockchain Summit on October 8. It is possibly the largest summit at the state level in the US. Not so long ago, Texas Governor Greg Abbott had tweeted that “Texas will be the crypto leader” asContinue reading “Is the state of Texas poised to become the next big crypto-destination”

After China banned mining in the country earlier this year, the Kyrgyz Republic had become one of the hotspots for the mining pools. The Kyrgyzstan government, however, recently issued a notice to hike electricity tariffs for cryptocurrency miners along with other consumer categories. The circular dated September 30 stated, “Taking into account the energy intensityContinue reading “Relocated Chinese miners in Kyrgyzstan will now pay more for electricity”