Filecoin on a tear as cautious optimism returns to crypto markets
Top blockchain and crypto news: Filecoin leads in market uptick. CryptoPunks in new glow as Tiffany jewelry. Chinese firms flock to Singapore.
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Solana falls amid hack reports; Bitcoin, Ether edge higher in mixed markets
Solana fell 4% in Asia afternoon trading on Wednesday as reports surfaced of a hack that had drained thousands of wallets holding the token. Bitcoin and Ethereum edged higher, though U.S.-China tensions were a broader concern across all markets. Bitcoin traded at US$23,187 as of 4:30 p.m. in Hong Kong, up 1.47% in the prior…
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Chinese mining rig maker Canaan says global expansion on track despite ‘crypto winter’
Beijing’s drive to stamp out crypto mining and the slump in crypto prices are headwinds that Canaan says it knows how to deal with, adding that the crypto winter may be shorter than expected.
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Zipmex resumes withdrawals of certain tokens in phased manner
Crypto platform Zipmex on Aug. 2 began to resume the withdrawal of certain altcoins such as Solana, Ripple and Cardano, the firm said in a blog post, after it halted customer withdrawals on July 20. See related article: Zipmex seeks moratorium from creditors in Singapore court Fast facts From Aug. 2, Zipmex users could withdraw…
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Solana hack affects over 7,000 Phantom, Slope wallets
Approximately 7,767 wallets have been affected in the Solana exploit as of 1 p.m. Hong Kong time. Solana-based wallets Slope and Phantom are on the list, Solana said. See related article: Cardano users said to be indirectly affected by Nomad’s US$200 mln exploit Fast facts See related article: Waves community approves repayment plan for lending…
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Indian startup tries to solve country’s crypto tax nightmare
An Indian firm providing crypto tax calculation services is introducing a software as a service (SAAS)-based solution to tackle India’s myriad crypto taxation regime. See related article: India’s latest tax assault on crypto exchanges starts Friday Fast facts SAAS-based TaxCryp software aims to simplify tax computation, compliance and reporting requirements, India-based TaxCryp Technologies said on…
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Gucci begins accepting BAYC-tied token ApeCoin as payment
Gucci has further embraced cryptocurrencies, announcing in a tweet on Tuesday that it is accepting in-store purchases with ApeCoin through payment service provider BitPay. See related article: How high fashion is waking up to blockchain’s possibilities Fast facts ApeCoin is a cryptocurrency tied to Bored Ape Yacht Club (BAYC), a non-fungible token (NFT) project created…
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CBDCs better poised for cross-border payments than Bitcoin, stablecoins: ECB study
Bitcoin is the worst option for increasing the efficiency of cross-border payments while stablecoins occupy an intermediary position, the European Central Bank (ECB) said in a study published Monday. See related article: Cryptocurrency is worthless: ECB Christine Lagarde Fast facts Central bank digital currencies (CBDCs) and domestic instant payment systems have the highest potential for…
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Cardano users said to be indirectly affected by Nomad’s US$200 mln exploit
Monday’s attack on Nomad indirectly affected Cardano users as the protocol was one of multiple bridges deployed to Milkomeda C1, a layer 2 protocol which allows Ethereum decentralized apps (dApps) to be deployed in the Cardano ecosystem, Milkomeda said. See related article: More than 300 addresses said to perpetrate Nomad’s US$200 mln exploit Fast facts…
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Robinhood’s crypto arm fined US$30 mln for compliance failures
The New York Department of Financial Services (NYDFS) slapped a US$30 million fine on the crypto arm of trading app Robinhood on Tuesday for allegedly violating the bank secrecy act, anti-money laundering, and cybersecurity regulations. See related article: Sam Bankman-Fried buys 7.6% of Robinhood; stock jumps Fast facts The financial regulator also asked the firm…