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Report: Thai Govt to Grant Tax Waivers to Issuers of Digital Asset Investment Tokens
10.3.2023
Thailand’s government has said companies that issue digital tokens will receive a waiver that exempts them from paying corporate and value-added tax. According to a report, the Thai government anticipates losing just over $1 billion in tax revenue as a result of the waiver. Relaxation of...
US Accounting Watchdog Issues Warning on Crypto Proof-of-Reserve Audits: Investors Urged to Exercise Caution
9.3.2023
According to a recent warning by the U.S. Public Company Accounting Oversight Board (PCAOB), crypto proof-of-reserve (POR) audits have limitations, and the board believes that investors should exercise caution when dealing with companies using POR audits. PCAOB Calls for Investor Caution and...
Coinbase Launches Wallet-as-a-Service to Bring Millions to Web3
9.3.2023
On March 8, Coinbase announced the launch of its Wallet-as-a-Service (WaaS) product. The WaaS product aims to “bring the next hundred million consumers into Web3 through a seamless wallet-onboarding experience.” The Coinbase WaaS offers wallet infrastructure application programming...
Bitcoin Proponents Slam Nobel Laureate Paul Krugman After Venmo Payment Issue
9.3.2023
Nobel Prize winner Paul Krugman complained on Twitter Wednesday that he was experiencing issues with the centralized payment processor Venmo. His tweet was followed by a barrage of bitcoin supporters who insisted that Krugman was now realizing the importance of censorship-resistant payment systems....
Ethereum Co-Founder Vitalik Buterin’s Address Sells Trillions of Airdropped Tokens, Causes Illiquid Coin Prices to Plummet
8.3.2023
On March 7, onchain observers noticed that Vitalik Buterin, the co-founder of Ethereum, had allegedly sold billions and trillions of airdropped ERC20 tokens, resulting in a gain of an estimated $700,000 in value. The market liquidity of the airdropped tokens was shallow, and the relatively unknown...
Compass Mining Alerts Bitcoin Miners of Changes in Bitmain’s ASIC Design
8.3.2023
Compass Mining, a bitcoin mining firm, published a blog post stating that Bitmain, the company behind the application-specific integrated circuit (ASIC) mining rig, has made changes to its design. The post advised miners to be aware of the changes as Compass Mining identified “three...
Yuga Labs’ Twelvefold Collection of Ordinal Inscriptions Generates 735 Bitcoin, Worth More Than $16 Million
7.3.2023
Yuga Labs, the creators of the blue-chip non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC), announced that the team has completed its Ordinal Inscription auction with a total of 3,246 bidders. The Twelvefold collection of inscriptions generated 735.7 bitcoin, worth more than...
While Bitcoin’s Hashrate Remains Sky-High, Merge-Mined Crypto Asset Networks Benefit
6.3.2023
In recent times, Bitcoin’s hashrate has been consistently above 300 exahash per second (EH/s) as multiple mining pools dedicate significant hashpower to the Bitcoin blockchain today. Interestingly, some of the world’s top bitcoin mining pools are also using their hashrate...
Apple’s Approval Process Delays Uniswap’s Mobile App Launch; Firm Launches Limited Trial Release
4.3.2023
On March 3, 2023, Uniswap Labs, the firm behind the decentralized exchange Uniswap, announced the launch of a limited early-release application through Apple’s Testflight program. The company stated that the limited release was due to Apple not granting approval for the application launch...
Bybit Halts US Dollar Deposits via Bank Transfer Due to Service ‘Outages’ From Partner
4.3.2023
On March 4, 2023, cryptocurrency exchange Bybit announced that it had suspended U.S. dollar deposits via bank transfer. Bybit cited “outages” from its partner as the reason for the suspension of USD deposits via bank transfers and the SWIFT network. Bybit Suspends USD Deposits, Wire...
Digital Assets Under Management 5.25% Higher in February — Grayscale Still ‘Most Dominant Player’
4.3.2023
The value of digital assets under management (AUM) for digital asset investment products in February rose to $28.3 billion, the highest number recorded since May 2022, according to Cryptocompare stats. The increase came against the background of rising U.S. Securities and Exchange Commission (SEC)...
FTX Debtors Report $8.9B Shortfall in Customer Funds and ‘Highly Commingled’ Assets in Latest Presentation
3.3.2023
On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the company’s total...
Bitcoin’s Price Drop Causes Over $200 Million in Long Liquidations Across Crypto Derivative Exchanges
3.3.2023
On Feb. 24, 2023, bitcoin’s price remained above the $23,000 threshold and then rose to a peak of $23,829 per unit on March 1. On March 2 at 8 p.m. Eastern Time, the price of bitcoin fell, dropping below the $23,000 mark. This decline resulted in a significant $237.97 million worth of long...
Ebb and Flow of Stablecoin Economy Continues With BUSD’s Market Cap Dropping Below $10 Billion Range
3.3.2023
The realm of stablecoins is an ever-evolving landscape and the number of coins in circulation for the stablecoin BUSD has fallen below the 10 billion mark to approximately 9.68 billion on March 3, 2023. Over the last 30 days, BUSD’s token supply has dropped 40% lower. In contrast, the number...
Tel Aviv Stock Exchange Takes Steps to Allow Crypto Trading
1.3.2023
Israel’s public stock exchange is suggesting regulatory amendments that would permit some clients to trade crypto assets. The proposals, which have been put forward for public consultation, come at the backdrop of a growing number of regulated institutions getting involved in the digital asset...
Goldman Sachs Says It’s Open to Adding Staff to Digital Assets Team: Bloomberg
28.2.2023
The investment bank’s private tokenization platform was used by Hong Kong to sell digital bonds last week
Mawson Infrastructure Group Launches Bitcoin Mining Operation in Pennsylvania, Exits Australia
27.2.2023
The bitcoin mining operation, Mawson Infrastructure Group, Inc., announced that the firm has broken ground at a new site in Sharon, Pennsylvania. Reports detail that Mawson has delivered six modular production units capable of housing 3,528 application-specific integrated circuit (ASIC) bitcoin...
Bitcoin Mining Difficulty Reaches All-Time High as Miners Face Second-Largest Increase This Year
25.2.2023
Bitcoin’s mining difficulty reached an all-time high (ATH) on Feb. 24, 2023, at block height #778,176, reaching 43.05 trillion hashes and surpassing the 40 trillion mark for the first time ever. The network’s difficulty increased by 9.95%, which is the second-largest rise this year...
Germany’s DZ Bank to Offer Crypto Custody With Swiss Firm Metaco
25.2.2023
The second-largest bank in Germany, DZ Bank, is preparing to become a provider of custody services for crypto assets. The offering will be facilitated by a partnership with Metaco, a Swiss company that specializes in helping financial institutions to operate in the digital asset space. DZ Bank...
Crypto Exchange Coinbase Launches Ethereum L2 Scaling Network Called Base
24.2.2023
The cryptocurrency exchange Coinbase has announced the deployment of Base, an Ethereum layer two (L2) scaling network, after developers launched the Base testnet on Thursday. The company said it is incubating Base within Coinbase and that the L2 chain will progressively decentralize over time....