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.
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…
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…
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…
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…
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…
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…
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…
Layer 1 blockchain Waves, which has been mired in a liquidity crisis, will go ahead with a revival plan recently approved by the community behind its decentralized finance (DeFi) lending protocol Vires.Finance, to allow certain account holders to withdraw funds or keep their positions for later repayment. See related article: Waves’ Neutrino USD loses peg…
MicroStrategy CEO Michael Saylor is stepping down to become executive chairman “to focus more on our Bitcoin acquisition strategy and related Bitcoin advocacy initiatives,” according to a company statement released Tuesday. See related article: Vitalik Buterin calls MicroStrategy’s Michael Saylor a ‘total clown’ Fast facts According to the statement, this will allow the company to…