Hong Kong tech giant Meitu made headlines in April last year after it reported nearly $100 million in crypto holdings. However, with the advent of the bear market, the tech firm has lost nearly half of the valuation of its crypto holdings. According to a local media report, Meitu reported an impairment loss of over
The government of Indonesia returned to its plan to set up a digital assets exchange, publicly announced first time back in 2021. A so-called “crypto bourse” is planned to be established by the end of 2022. According to DealStreetAsia, Indonesia’s deputy trade minister Jerry Sambuaga confirmed during the NXC International Summit 2022 in Bali that
Ukrainian investigators have exposed a scheme targeting residents of the country and the European Union with various financial scams, including some related to cryptocurrencies. The criminal organization members contacted their victims through call centers to collect personal financial information. Fake Ukrainian Call Centers Promise Foreigners Excess Profits From Crypto Trading Officers from the Main Investigative
The bankrupt cryptocurrency lender Celsius is facing more legal issues as disgruntled clients are taking action to recover their funds after the platform froze withdrawals in June. An ad hoc group of 64 custodial account holders at Celsius on Wednesday filed a complaint with the U.S. Bankruptcy Court for the Southern District of New York
Lawmakers in California State Assembly 71-0 passed the Digital Financial Assets Law, also known as AB 2269, on Tuesday, Aug. 30. The bill is now in the hands of the state’s governor Gavin Newsom, who will either set it into motion or veto it completely. This bill requires digital asset exchanges and crypto companies to
The layer two (L2) scaling solution Arbitrum revealed on Wednesday that the team has implemented the project’s Nitro rollup stack migration. Earlier this month, Arbitrum developers noted that the Nitro migration would reduce network fees and improve throughput. Arbitrum Developers Implement Nitro Update The Offchain Labs-managed L2 Ethereum scaling solution Arbitrum, told fellow Arbinauts (the
The highly-anticipated Ethereum merger is one topic that all hardcore crypto aficionados are talking about. ETH currently trades below the $1.6K level Ethereum price nosedives by 1.24% or trading at $1,570.76 ETH liquidations trigger price spike Investors are debating whether or not the
As the date for the Ethereum Merge approaches, nonfungible token (NFT) marketplace OpenSea has announced that it will focus on supporting only the NFTs that are on the upgraded proof-of-stake (PoS) blockchain. In an announcement on Twitter, the NFT marketplace said that while their team is not speculating on any potential forks, as it clarified
Bitcoin (BTC) has sealed its worst August performance since 2015 after the monthly candle closed down 13.9%. Weekly candle “doesn’t look good” Data from Cointelegraph Markets Pro and TradingView confirms that BTC/USD finished the month at $19,990. A knock to bulls’ efforts to stabilize spot price, the August close was only the second monthly candle
Ethereum (ETH) hodlers that don’t play their cards right following the Ethereum Merge may be in for a hefty bill come tax time, according to tax experts. Around Sept.15, the Ethereum blockchain is set to transition from its current proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS), aimed at improving the network’s impact on the environment.
The Federal Bureau of Investigation (FBI) profiled the Onecoin cryptocurrency scam and its co-founder Ruja Ignatova, aka “Crypto Queen,” in a new podcast. Onecoin was one of the world’s biggest crypto scams and Ignatova was recently added to the FBI’s 10 most wanted fugitives list. FBI on Onecoin Crypto Scam and Ruja Ignatova The Federal
The government of Iran has finalized a set of cryptocurrency regulations. A “comprehensive and detailed” law ratified by the administration provides a regulatory framework for cryptocurrency, including their authorized usage and crypto mining, a government official reportedly said. Iran Finalizes Crypto Regulations The Iranian government has evaluated all issues relating to cryptocurrencies and approved a
The Golden State of California may be America’s most inquisitive state about Bitcoin (BTC) and Ethereum (ETH), new data from CoinGecko has revealed. In a report shared by CoinGecko, internet users from California accounted for a whopping 43% of all Bitcoin and Ethereum web traffic searches on the crypto tracking website. This is despite the
Internet of Things (IoT) blockchain network Helium could transition to the Solana blockchain following a new HIP 70 governance proposal launched on Aug. 30. The Helium core developers said the need to “improve operational efficiency and scalability” was required in order to bring “significant economies of scale” to the network. The Helium network operates by
This week, Ticketmaster Entertainment, Inc. revealed the company will give event organizers the ability to mint non-fungible token (NFT) tickets via the Flow blockchain. Last November, Ticketmaster said it was working with Polygon but since Super Bowl LVI, the ticket sales and distribution behemoth started working with the Dapper Labs-managed Flow. Ticketmaster Has Minted More
Crypto mining malware has been sneakily invading hundreds of thousands of computers around the world since 2019, often masquerading as legitimate programs, such as Google Translate, new research has found. In an Aug. 29 report by Check Point Research (CPR), a research team for American-Israeli cybersecurity provider, Check Point Software Technologies, the malware has been
Tesla CEO Elon Musk has outlined new reasons to terminate the $44 billion deal to buy Twitter in a new filing with the U.S. Securities and Exchange Commission (SEC). Citing a whistleblower report, Musk’s lawyer said the allegations, known to the social media giant but undisclosed to Musk, indicate “far-reaching misconduct at Twitter.” Elon Musk
The host of Mad Money, Jim Cramer, has advised investors to avoid cryptocurrency and other speculative investments. “Don’t get memed. Don’t get SPAC’d. Don’t get crypto’d,” Cramer stressed, warning of “a giant washout of all things that are speculative.” Jim Cramer Advises Investors to Avoid Crypto The host of CNBC’s Mad Money show, Jim Cramer,
The decentralized application industry pushed above $40 billion in smart contract deposits in February 2021, and currently the figure stands at $59 billion. To date, “real money” continues to flow into the sector, and on Aug. 29, gaming startup Limit Break raised $200 million. The project gained popularity after the successful launch of its DigiDaigaku
Venture capital firm Andreessen Horowitz (A16z) announced Wednesday that it had devised a set of six licenses tailored to nonfungible tokens (NFTs) that are based on the model pioneered by Creative Commons. Like Creative Commons licenses, there is a range of rights available through a variety of the proposed NFT licenses, titled Can’t Be Evil