Connors writes that despite 2023’s focus on Bitcoin’s increased dominance and surging fees amid a challenging U.S regulatory environment, Ethereum’s post-merge performance, including an unexpected non-impact of staking ‘unlock,’ increased staking demand, and realized deflationary promise with over 250k ETH ‘burned,’ is garnering market attention. Original
Crypto influencers are taking an extra cautious approach to endorsement deals since the collapse of crypto exchange FTX last year, which has seen several celebrities hit with a lawsuit for their alleged role in its promotion. In March, a $1 billion class-action lawsuit was filed alleging that eight influencers promoted “FTX crypto fraud without disclosing compensation.” Influencers told Cointelegraph that it has served as a wake-up call — those that endorse crypto firms need to understand their followers can take legal action against them in the future should that company…
Grand Theft Auto VI crypto rumors Rumors that the upcoming Grand Theft Auto VI will incorporate cryptocurrency and nonfungible tokens (NFTs) have once again surfaced, sparking speculation among fans. Posts shared on Twitter suggest that GTA 6 will be a play-to-earn game and that in-game items such as cars and weapons will be NFTs. GTA creator Rockstar Games are yet to weigh in on whether there’s any truth to these claims, but there seems to be little solid evidence backing the rumors. The company cracked down on the use of…
Centralized crypto exchange Gate.io has threatened legal action in response to rumors of imminent bankruptcy. Crypto community members have been speculating since May about a possible connection between Gate.io and the troubled cross-chain protocol Multichain. “Legal proceedings will be initiated against people who cause panic among investors only with rumors and gossip, without relying on any concrete source,” reads a June 4 Twitter announcement originally written in Turkish. Tüm kullanıcılarımızın bilgisine arz ederiz. Sahte ve gerçeklik payı olmayan söylentilere lütfen itibar etmeyiniz. pic.twitter.com/6SpuKx0rU8 — Gate.io (@gate_io) June 4, 2023 Gate.io’s…
AngelBlock, a web3 fundraising platform for cryptocurrency, has announced SOLA-X as its inaugural fundraising project. Qualified investors may participate in the token sale, which is scheduled to commence by the end of this month. SOLA-X is building a cross-chain decentralized finance (DeFi) hub that introduces a protocol-managed liquidity and arbitrage mechanism designed to eliminate problems around high slippage for traders and impermanent loss and low APYs for liquidity providers. The protocol is characterized by its advanced liquidity management system, wherein users can supply a single asset that will be distributed across…
The United States equities markets welcomed the debt ceiling deal and the May nonfarm payrolls data on June 2 with strong rallies. The S&P 500 rose 1.8% during the week while the tech-heavy Nasdaq was up 2%. This was the sixth successive week of gains for the Nasdaq, the first such occasion since January 2020. In addition to the above, the expectation of the Federal Reserve remaining in a pause mode during the next meeting may have acted as a catalyst for the rally. CME’s FedWatch Tool is showing a…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Liquid Federation, a consortium of major exchanges, Bitcoin infrastructure companies, and wallet providers, has welcomed six new members. Liquid Network, a layer-2 solution enabling the settlement and issuance of crypto assets on Bitcoin, announced in a June 2 blog post on its official website that Bcademy, Boltz Exchange, Equitas Foundation, JAN3, Maven, and Mifiel have joined the Liquid Federation. The new members have expanded the Federation’s total membership to 67, further diversifying its global reach.…
This week, regulatory affairs continued to be a top concern. Government institutions worked towards creating guidelines to adapt to the ever-changing and evolving world of cryptocurrencies. Meanwhile, the private sector showed interest in non-fungible tokens (NFTs) by collaborating on various projects. Despite these positive advancements, reports of fraudulent activities and security breaches highlighted the importance of implementing strong security measures. Discord and Twitter compromises Social accounts of prominent personalities suffered compromises this week. Orbiter Finance’s Discord server fell victim to a breach orchestrated by hackers on June 1. The malicious individuals took…
At least $35 million worth of crypto assets have been stolen from Atomic Wallet users since June 2, according to an analysis from on-chain sleuth ZachXBT. The five largest losses account for $17 million. According to Atomic Wallet on Twitter, the cause of the attack is being investigated. Reports have surfaced of tokens being lost, transaction histories being erased, and even entire crypto portfolios being stolen. An independent investigation carried out by pseudonymous Twitter ZachXBT, known for tracing crypto stolen funds and assisting hacked projects, has found the largest victim…
Cryptocurrency, having made its presence felt globally as an investment asset, is no longer unfamiliar to the IRS. The tax rules concerning cryptocurrency, however, remain somewhat convoluted. According to the IRS, crypto may be subject to either income taxes or capital gains taxes, depending on its usage. Cryptocurrency is not taxed if you’re merely holding it, or “hodling” as the crypto community often refers to it. But if you’ve gained any income from crypto in a year—either from staking, lending, or selling—you may owe taxes on those proceeds. The IRS…