Cryptocurrency trading volumes across exchanges in India have plunged after the country’s 1% tax deducted at source (TDS) went into effect at the beginning of the month. Some major crypto exchanges saw volumes dropping by about 80%. Crypto Trading Volumes Fall Across India The trading volumes across crypto exchanges in India have fallen sharply after the new TDS (tax deducted at source) went into effect on July 1. Trading volumes on major Indian crypto exchanges Wazirx, Coindcx, Zebpay, and Bitbns plunged about 83%, 70%, 76%, and over 18%, respectively, from…
Day: July 5, 2022
EToro SPAC Deal for Public Listing Canceled as Transaction Becomes 'Impracticable'
Trading platform eToro’s planned public listing through a merger with special purpose acquisition company (SPAC) FinTech Acquisition Corp. V has been terminated. Source
Prestamista Celsius recorta 150 puestos de trabajo en medio de reestructuración
Celsius se une a una creciente tendencia de empresas cripto que se encuentran despidiendo empleados en un contexto de mercado bajista. Coinbase despidió más de 1100 empleados en junio, mientras que exchanges como Bybit, Huobi, Buenbit y otros también han despedido personal en el último mes. Source CelsiusmedioPrestamistapuestosrecortareestructuracióntrabajo CryptoX Portal
ETH Back Above $1,100 as BTC Briefly Hits $20K on Tuesday – Market Updates Bitcoin News
BTC briefly rose back above $20,000 on Tuesday, as U.S. markets reopened following yesterday’s Independence Day holiday. Prices of ETH also surged, climbing over its $1,100 resistance level. Overall, the crypto market cap is trading 0.63% higher. Bitcoin On Tuesday, bitcoin rallied back above $20,000, as traders returned from the U.S. Independence Day celebrations. In what has been a highly volatile trading session, BTC/USD rose to an intraday peak of $20,405.12 earlier in the day. However, these gains were not sustained, with prices since moving to a low of $19,438.48,…
Liquid markets are healthy markets, says Kairon Labs co-founder
Market maker Kairon Labs have been working with projects such as StepApp (FitFi) and Ergo, providing liquidity on over 30 exchanges. Kairon Labs and most other market makers agree that “liquid markets are healthy markets,” as when the markets are liquid, it allows for lower slippage and faster trades to occur, which allows for the fair trade of a token. Cointelegraph spoke with the managing partner Jens Willemen for his comments on current market conditions and a brief explanation of how market makers are able to retain profitability in current…
Lamborghini-backed GT racing team to authenticate car parts using NFTs
Vincenzo Sospiri Racing (VSR), a GT racing team backed by Lamborghini’s motorsport department, has announced its partnership with nonfungible token (NFT) platform Go2NFT to launch a program that certifies racing car parts. In an announcement sent to Cointelegraph, former racing champion Vincenzo Sospiri from the VSR mentioned that their team will build NFT certification for their race cars with Go2NFT and blockchain platform Skey Network. This will allow them to monitor and ensure the quality of the car parts. He explained that: “This also brings great responsibility to ensure that…
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Cardano Releases New Update On Testnet, How Will The Price Respond?
Cardano is gradually pushing through most of its network’s building phases. The Basho phase, the fourth of the five stages of Cardano’s developing plans, is progressing. The first three phases were Goguen, Byron, and Shelley, which provide smart contracts, the foundation, and decentralization, respectively. Finally, Vasil, the primary feature of Basho, is launched on Cardano’s testnet with a focus on scalability. In recent news, the Cardano network has completed the hard fork of Vasil on its testnet. This latest successful move prepares the network for the upcoming upgrade on the…
UK government seeks public input on DeFi taxation
The government of the United Kingdom is asking the public for input on the taxation of crypto asset loans and staking in the context of Decentralized Finance (DeFi). DeFi is an umbrella term that refers to financial applications that are built on top of blockchain technology. This could include anything from lending to borrowing and staking platforms. In particular, the government is interested in gathering information on the taxation of crypto asset loans and staking. Her Majesty’s Revenue and Customs (HMRC) call for evidence paper, published on Tuesday, described its…
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