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Indian Finance Minister Nirmala Sitharaman’s 2024-25 Union Budget keeps the existing cryptocurrency tax regulations unchanged, disappointing local crypto advocates. They argue that reducing the 1% tax deducted at source (TDS) is essential for reviving the struggling crypto industry in India. Industry leaders emphasize the need for ongoing dialogue with regulators to foster a supportive environment … Read more
Indian crypto exchange Wazirx has provided an update on the recent cyberattack resulting in the theft of over $230 million. Wazirx co-founder Nischal Shetty stated that the exchange is exploring various strategies to restore platform deposits, withdrawals, and trading. He assured users that Indian rupee (INR) funds are secure and that efforts to recover the … Read more
The Digital Chamber, a crypto advocacy group, has called on U.S. Vice President Kamala Harris to support the digital asset industry with three requests. The group urged her to promote pro-digital asset language in the Democratic Party’s platform, choose a vice-presidential candidate with expertise in digital asset policy, and engage with industry leaders. Digital Chamber … Read more
Telegram, the popular messaging app, has reached 950 million monthly active users worldwide, according to its founder Pavel Durov. The app has served as a platform for the popularization and growth of several cryptocurrency projects featuring tap-to-earn mechanics, such as Notcoin and the recently popular Hamster Kombat. Durov stated that the number of users has … Read more
Kim Byoung-hwan, the nominee for head of South Korea’s top financial regulator, the Financial Services Commission (FSC), expressed caution about corporations holding bank accounts for cryptocurrency transactions. Speaking at a parliamentary session on Monday, Kim, a former vice finance minister, emphasized: “Taking into consideration the chaos we have experienced in the virtual asset market in … Read more
In a significant move to meet regulatory and tax requirements, Arkham has withdrawn $487.24 million worth of $ARKM tokens from its vesting contract and transferred them to Coinbase Prime Custody. Within the past 48 hours, the Arkham team moved 304.5 million $ARKM, valued at approximately $477 million, to Coinbase Prime. Arkham Withdraws $487.24 Million in … Read more
Binance has just wrapped up its 28th quarterly BNB burn, eliminating a total of 1,643,699 BNB, which is valued at approximately $971 million. This latest burn did not include the Pioneer Burn Program, focusing solely on the regular quarterly reduction. Binance’s ongoing commitment is to burn BNB each quarter until half of the total supply, … Read more
Since July 16th, Ethereum (ETH) has faced significant difficulty breaking through the $3,500 resistance level. This challenge is partly due to the 3.13 million addresses that acquired ETH at an average price of $3,547. Many of these addresses are currently holding their ETH at a loss, which contributes to increased selling pressure and complicates ETH’s … Read more
After a surprising rebound over the past two weeks, Bitcoin and the broader cryptocurrency market have quieted down, especially as BTC approaches the $70,000 mark once again. The previous calls for a bear market in early July have faded as market sentiment shifts. 🤫 The crowd’s gone silent after Bitcoin and crypto have enjoyed a … Read more
Anatoly Aksakov, the Chairman of the Russian State Duma Committee on the Financial Market, has stated that ‘Hamster Kombat’, a popular tap-to-earn game, should be stopped in Russia. Aksakov emphasized that ‘Hamster Kombat’ manipulates the psyche of citizens, leading them to believe that they can become wealthy with minimal effort through playing this type of … Read more