South Korea Ministry of Strategy and Finance has made a new revelation about virtual Airdrops. The Ministry disclosed that Airdrops might also attract gift tax. This development manifested when attending to the Ministry’s questions about the tax law of virtual assets. The question inquired if South Koreans would pay taxes on any virtual assets they …
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The server of a popular Bitcoin ATM maker, General Bytes, has been attacked. The firm confirmed the incident in its blog post. The attackers posed as default admins and altered the settings to transfer all the funds to their wallet addresses. As of press time, General Bytes is yet to publicly disclose the number of …
A widely followed crypto analyst says that macro conditions could spell trouble for the leading smart contract platform Ethereum (ETH). In a new video update, DataDash host Nicholas Merten tells his 515,000 YouTube subscribers that macro factors could overshadow the hype surrounding Ethereum’s upcoming merge to a proof-of-stake consensus mechanism. “The Federal Reserve, as we …
A crypto investing veteran is offering insights on the road ahead for the two largest crypto assets by market cap. In a new interview with CNBC’s Squawk Box, CoinShares chief strategy officer (CSO) Meltem Demirors explains that there’s an overall summer lull in crypto because many aren’t actively trading while on vacation. “I think with …
Tron founder Justin Sun is making the case for why Decentralized USD (USDD) is different than Terra’s failed decentralized UST stablecoin. In an interview with CoinGecko, Sun says that USDD, Tron’s algorithmic stablecoin, is a hybrid that uses the best aspects of every USD-pegged asset on the market. “I will say I think USDD is …
Samsung Securities is among seven large South Korean securities companies that have applied for government approval to create a virtual assets exchange, according to a report in South Korean publication Newspim. The companies aim to create a corporation to open an exchange in the first half of next year. Newspim quoted an unidentified executive as saying …
After the rising wedge formation was broken on Aug. 17, the total crypto market capitalization quickly dropped to $1 trillion and the bulls’ dream of recouping the $1.2 trillion support, last seen on June 10, became even more distant. Total crypto market cap, USD billion. Source: TradingView The worsening conditions are not exclusive to crypto …
Continue reading “Data shows Bitcoin and altcoins at risk of a 20% drop to new yearly lows”
IBM’s Center for Advance Studies (CAS) and Evoke’s joint technology conference WeaveSphere has adopted the motto “Evolving Technology for the Future” and will focus on blockchain, crypto, Web3, NFTs, and the metaverse along with various other topics like AI and Fintechs. The conference will be held in Toronto between the 15th and 17th of November. It …
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An on-chain investigation by SlowMists reveals that the privacy protocol ChipMixer was used by Ronin bridge hackers (the Lazarus Group) to launder 3,460 BTC ( $73.2 million as per press time). In a mid-year report by blockchain security firm, SlowMist, an on-chain investigation of the Ronin hack was conducted, and mixing protocol ChipMixer was indicted …
Continue reading “Ronin bridge Hackers used ChipMixer to launder over $73M of stolen funds”
The NFT craze of 2021 swept across almost every industry and made non-fungible tokens a household name across the globe, making NFTs, which were once reserved only for a small niche of crypto enthusiasts, catch the eyes of legacy brands that joined in on the craze. After buying sought-after NFT collections like the BAYC or …
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Digital asset investment products lost a total of $1 billion in small transactions of up to $9 million between Aug. 15 and Aug. 21, shrinking to 55% off the year average and the second lowest level of 2022, Coinshares’ weekly report indicates. Weekly Crypto Asset Flows The majority of the losses came from the U.S., …
Continue reading “Digital asset market lost $1B in the week of Aug. 15”
The Director of Research at Coin Center Peter Van Valkenburgh raised an interesting point on Monday when he tweeted a screenshot from the SWIFT website detailing the entity’s role in sanctions enacted by “national authorities.” Comments on the tweet immediately compared the information to Ethereum’s role in processing transactions. Send tweet. pic.twitter.com/82IRrRLbDR — Peter Van …
An analyst at the New York-based financial services and investment management company Morgan Stanley detailed on Monday that crypto liquidity seems to be recovering. Morgan Stanley’s Sheena Shah highlighted in a note to investors that the stablecoin market capitalization is seeing fewer redemptions for the first time since April. Morgan Stanley Investors’ Note Says Crypto …
The U.S. dollar has been very strong compared to a myriad of fiat currencies worldwide and this week, the euro dropped below the USD for the second time in 20 years after meeting parity with the dollar in mid-July. The dollar’s recent brawniness has resulted in the largest weekly rise since March 2020, according to …
press release SINGAPORE — 8 July 2022 — TOKEN2049, Asia’s premier crypto conference, has announced a new batch of title sponsors and speakers for its upcoming Singapore edition which will be running from 28 to 29 September. This year marks the conference’s Singapore debut, making for a thrilling week of activities as some of the …
