“There’s a lot of high-value items that are being inscribed or created on the bitcoin chain, and for a very, very burgeoning NFT ecosystem that it’s, it’s been super exciting to see,” Yin told CoinDesk. “And at Magic Eden, we’re working on a lot of cross-chain things anyway, and we felt like this was a really cool adjacent ecosystem for us to tackle.” Original
Bitcoin (BTC) headed to new nine-month highs after the March 21 Wall Street open as a crucial Federal Reserve interest rate decision loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price climbs despite conservative Fed view Data from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $28,500 on Bitstamp. The latest in a succession of multi-month highs, the latest BTC price action precedes what promises to be a volatile day for markets. The Fed will announce how far — if at all — it will hike its baseline interest…
The self-regulatory trade association CryptoUK has proposed providing a ‘white list’ of registered firms in the United Kingdom to address banks limiting or banning transactions to crypto companies. In separate letters to U.K. Economic Secretary Andrew Griffith and members of the Financial Conduct Authority and Payment Systems Regulator dated March 21, CryptoUK said many banks had begun imposing blanket bans on dealing with crypto firms “instead of taking a risk-based and case-by-case approach.” The association proposed the creation of a ‘white list’ of registered crypto companies allowing them to conduct…
ZenGo, a crypto wallet developer, has discovered a security vulnerability in decentralized applications (dApps) called the “red pill attack.” This vulnerability allowed malicious dApps to steal user assets using opaque transaction approvals. ZenGo conducted research that revealed that many leading vendors, including Coinbase Wallet, were vulnerable to such attacks. However, ZenGo stated that all vendors were receptive to their reports, and most of them were quick to fix their faulty implementations. The vulnerability is possible due to a programming oversight in “Special Variables” among smart contracts storing general information on…
Developers from the Arbitrum Foundation announced the launch of Arbitrum DAO and its native governance token, ARB, on March 16. Eligible users and developers will receive 12.75% of the token’s total supply of 10 billion on March 23, when the token will be deployed. Speculation around ARB began soon after the token launch announcement on OTC desks, derivatives exchanges and spot exchanges via IOUs (I Owe You). ARB tokens gain steam in pre-launch trading BitMEX launched the derivatives contract for ARB June futures on Monday around 11 p.m. EST. The…
CryptoX – Cryptocurrency Analysis and News Portal OneCoin’s victims were allegedly defrauded of over $4 billion in the scheme, which began operations in 2014. Source The post OneCoin's Legal Head Charged in Fraud Extradited to U.S. appeared first on CryptoX. CryptoX Portal
sponsored Serving as a committee member of Alchemy Pay’s management and advisory board, and as Global Strategic Adviser to support Alchemy Pay’s expansion and growth in global markets, contributing actively to strategy, compliance and government relations. Alchemy Pay, Singapore based pioneer of the world’s first payment gateway solution to bridge the gap between fiat and crypto economies, has announced the appointment of legendary campaign manager and former White House Senior Advisor, David Plouffe, as Global Strategic Advisor. Plouffe is credited with the strategy and grass-roots public engagement savvy that won…
The Internal Revenue Service said they plan to release guidance on having nonfungible tokens, or NFTs, treated as collectibles under the United States tax code. In a March 21 notice, the IRS called for feedback from the U.S. public on how NFTs could be taxed as collectibles. According to the government body, collectibles under U.S. tax law “do not have as advantageous capital-gains tax treatment as other capital assets,” seemingly referring to how crypto assets are currently taxed in the country. “Until additional guidance is issued, the IRS intends to…
Private Swedish pension fund Alecta has sold its shares in First Republic Bank, the American bank struggling to stay afloat after a serious drop in share value, a bank spokesperson announced March 21. Alecta was the bank’s fifth-largest shareholder. Alecta took a loss in the deal after losing funds in the collapses of Silicon Valley Bank (SVB) and Signature Bank. First Republic Bank’s shares fell 87% after SVB was forced to close earlier this month. Regarding the latest developments, Alecta CEO Magnus Billing told Bloomberg: “The uncertainty about First Republic’s future was…
The sharpest part of bitcoin’s rally, after all, has come since Monday, March 13, when it was announced that the floundering Silicon Valley Bank would get a bailout. In a second newsletter this morning, Joe Wiesenthal has changed his mind – “MAYBE YOU DON’T GOTTA HAND IT TO BITCOIN,” he tweeted. Original