Day: December 5, 2022

Galaxy Digital to Acquire Israeli Custody Firm GK8 from Celsius Network

Amongst other things, GK8 will help solidify GalaxyOne, the bigger company’s trading platform. Cryptocurrency financial services firm, Galaxy Digital Holdings Ltd (TSE: GLXY) has been selected as the winning bidder for Celsius Network’s owned custody outfit, GK8. As announced by the company, the acquisition is a part of the divestment agenda of the bankrupt crypto lender and it is subject to regulatory approval. GK8 provides a secure institutional digital asset self-custody platform that enables users to carry out transactions offline, a provision that guarantees protection for its users from cyberattacks.…

Nigerian Finance Bill Has Provisions Allowing Govt to Tax Crypto Transactions – Taxes Bitcoin News

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A Nigerian finance bill, which seeks to amend the country’s various tax statutes, contains provisions which allow the government to tax cryptocurrency and other digital asset transactions, a report has said. Nigeria is reportedly seeking to join six other countries, including two from Africa, which already levy taxes on digital asset transactions. Extracting More Revenue From E-Commerce Transactions According to the Nigerian finance minister, Zainab Ahmed, the country’s 2022 finance bill — which seeks to amend excise and duty statutes — has provisions allowing the government to collect tax on…

Crypto layoffs trigger mixed responses from the community

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As more crypto companies have cut off their staff to weather the effects of the bear market, crypto community members have posted various reactions from giving encouragement to trying to hire the professionals that were recently let go.  Just over the weekend, two prominent crypto exchanges announced layoffs as the effects of the crypto winter continue to be felt. Bybit has laid off 30% of its workforce which marks the second time the exchange conducted layoffs in 2022. On the other hand, Australia-based exchange Swyftx has also cut around 40%…

Reddit Avatars Token Minting Climbs to Record High

The figures eclipsed the previous high, 200,000 in August, nearly a month after the collectibles went live. Over 98,000 avatars from “The Singularity” collection were produced, the most on that day, followed by 58,000 avatars from “Aww Friends.” The rapid minting followed a spike of interest in the collection last Thursday that gradually tapered off over the following days. Source

Pando Finance Limited – Hope to Provide More Different High Growth Products for Hong Kong Investors in the Future

Place/Date: Hong Kong – December 5th, 2022 at 11:11 am UTC · 2 min read Contact: Jen, Source: Pando Finance Pando Finance Limited, a leading asset management company in Hong Kong, will list two HK SFC-authorized actively managed thematic Exchange Traded Funds “Pando Blockchain ETF (3112 HK)” and “Pando Innovation ETF (3056 HK)” on the Hong Kong Stock Exchange (HKEX) on 8 December 2022 Thursday. Pando Finance believes blockchain and innovation are the key for long-term growth in portfolio. Pando Finance employs an actively managed investment strategy as Pando Finance believes…

Bitcoin (BTC) Price Up 5% In Last 7 Days

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In recent days, Bitcoin has shown a good degree of bullishness. CoinGecko reports that Bitcoin’s price has increased on a daily and biweekly basis, suggesting that the market may be recovering from FTX’s fall. Investors at large were also optimistic. The BTC bottom is still in effect, presenting excellent chances for long-term investment. There was little gains with hash ribbon despite the occurrence of a golden cross (chart below), as the price remained unchanged. Also, there is a 50/50 chance of a decline in the market to at least $16.950.…

Crypto community baffled by SBF dictating terms over congressional hearing

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Sam Bankman-Fried, the former CEO of now-bankrupt cryptocurrency exchange FTX has declined to testify before the United States Congress until he’s “finished learning and reviewing what happened.” Rep. Waters, and the House Committee on Financial Services: Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain. I’m not sure that will happen by the 13th. But when it does, I will testify. https://t.co/c0P8yKlyQt — SBF (@SBF_FTX) December 4, 2022 Bankman Fried’s unwillingness to testify before the…

Chinese Court Applies Property Law to NFTs

While China is seemingly encouraging the ownership of NFTs, NFT prices have been down in the wake of a wider market rout. A Chinese court in Hangzhou city has applied its property law to nonfungible token (NFT) collections. The court ruled that NFTs are like online virtual property and should be protected under Chinese law. While noting Chinese laws are not clear on the features of NFTs, the court moved to establish its legal attributes. According to the case report, “NFTs have the object characteristics of property rights such as…

Elon Musk Opines that SBF Made Donations Up to $1B to Democrats

In his latest “Apology Tour” in which he appeared at the New York Times Dealbook Summit, SBF portrayed himself as a victim rather than a mastermind of all that happened at the trading platform. Since FTX Derivatives Exchange went bankrupt, there have been a lot of permutations as to whether the funds misappropriated by Sam Bankman-Fried (SBF) were used as donations to politicians. In a recent Twitter conversation, Will Manidis, CEO of ScienceIO – a healthcare data platform said that SBF made an investment that has turned out as the…

Audit firm Mazars to verify KuCoin’s proof of reserves

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Crypto exchange KuCoin hired the international accounting firm Mazars for a third-party audit of its proof of reserves (PoR).  According to an announcement on Dec. 5, the verification will provide the exchange customers additional transparency and reporting on whether their in-scope assets are collateralized, along with details on main, trade, margin, robot and contract accounts for Bitcoin (BTC) and Ether (ETH), as well as for the stablecoins Tether (USDT) and USD Coin (USDC). The report should be available on KuCoin’s official website within a few weeks. CEO of KuCoin Johnny Lyu…