Day: July 9, 2023

Canada’s court deem 👍 emoji valid as a contract agreement: Report

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A Canadian judge has ruled that the widely used thumbs-up emoji can affirm that a person is legally entering into a contract.  According to a report from the New York Times, judge T.J. Keene said the decision mirrors a “new reality in Canadian society” as more people use emojis to express themselves in all sorts of situations, including business dealings. The case sought to determine whether a farmer had agreed to sell tons of flax to a grain buyer in 2021. As per the report, the buyer sent the purchase…

Bitcoin price gathers strength as SOL, AVAX, FIL and EOS prep for a breakout

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Nonfarm payrolls rose by 209,000 in June, below economists’ expectations of an addition of 240,000 jobs. Although the figures show a cooling labor market, market observers remained concerned as the average hourly earnings growth held steady at 0.4% from May and 4.4% from a year ago.  The report did not alter expectations of a 25 basis point rate hike by the United States Federal Reserve in the next meeting, according to the FedWatch Tool. That kept the U.S. equities markets under pressure, with all three major indices falling for the week.…

SEC won’t object to Coinbase’s motion to speed up case

On July 7, the United States Securities and Exchange Commission (SEC) submitted a letter to the judge in their case against Coinbase, responding to the exchange’s request for permission to file a motion for judgment on the pleadings. Therein, the SEC informed the presiding judge that they have no objections to Coinbase’s motion. SEC versus Coinbase case update Specifically, the regulator wishes not to delay the consideration of the issues raised by Coinbase, which could lead to a timely resolution of the case.  The SEC outlines the arguments it plans to present…

IMF Says Tax Systems Need To Be Updated for Crypto Assets, Decentralized Exchanges Part of the Problem

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The International Monetary Fund (IMF) says that global tax systems should be modernized to accommodate crypto assets. In a new blog post, the IMF says the tax system needs updating to cope with crypto assets, whose anonymity and decentralized nature pose challenges to governments. The bank says that in particular, tax evasion could be a significant problem if crypto is ever widely used as a currency for transactions. “Crypto transactions have similarities to those in cash in their potential for being hidden from tax administrations. Today, the share of purchases…

Robert F. Kennedy Jr. invested up to $250,000 in Bitcoin after Miami’s conference

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Democratic presidential candidate Robert F. Kennedy Jr. owns up to $250,000 in Bitcoin (BTC), in contrast to his previous claim that he was not an investor in the leading cryptocurrency. A record obtained by CNBC shows Kennedy Jr. owned between $100,001 and $250,000 worth of Bitcoin at the end of June. The investment was made after his speech at the Bitcoin 2023 conference in May, when he announced that his campaign would be the first to accept Bitcoin donations in the United States. During the conference, the candidate also denied…

Crypto.org blockchain validator penalized, loses over $25,500 in CRO

MoonNode, a validator on the Crypto.org network, was slashed and lost 5% of the total staked CRO after a hacker took over its infrastructure and doubled signed transactions. As of July 9, the 5% slash translated to around 450,000 CRO worth $25,500 at spot rates has been burned. The validator had approximately 9 million CRO when the network enforced a double sign slash. Crypto.org chain compromised, MoonNode validator slashed The information was shared on Twitter by IcyCRO, a validator and a Cosmos InterBlockchain Communication (IBC) relayer of tokens like cosmos…

Ripple Labs to tokenize the multi-billion dollar real estate industry

Ripple Labs, a technology company building financial products, including the XRP Ledger (XRPL), on the Ripple Protocol Consensus Algorithm (RPCA), plans to transform the real estate industry through tokenization. XRP, one of the most liquid cryptocurrencies, is issued on the XRPL, an open-source blockchain. Ripple, a blockchain company headed by Brad Garlinghouse, uses XRP in their On-Demand Liquidity (ODL) solution. Ripple Labs’ plans for real estate According to Antony Welfare, CBDC adviser at Ripple Labs, the technology firm believes tokenization has the potential to revolutionize the real estate industry. In…

Crypto exchanges in the crosshairs as Gemini sues DCG, BlackRock resubmits bitcoin ETF application

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This week, Gemini made the news by filing a lawsuit against Digital Currency Group (DCG), accusing them of fraud. This unexpected action has added to the ongoing tension between the two entities. Regulatory matters continue to be a global concern, despite a week of relative quiet. Additionally, BlackRock has submitted a renewed application for a bitcoin (BTC) ETF, underscoring the growing institutional acceptance of cryptocurrencies. Gemini sues DCG The Gemini and DCG saga took a new twist this week. Gemini demonstrated seriousness in recuperating lost funds for its Earn customers. …

Bitcoin Ordinals inscriptions surging as minting fees remain low

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Data from the Dune blockchain show crypto enthusiasts minted 350,000 Bitcoin Ordinals Inscriptions on July 8, the highest daily record since May 14. Despite the substantial increase in minting activity, the payment fee for these inscriptions remained remarkably low at 2.5 bitcoin (BTC). This surge in minting numbers could be attributed to the recent launch of recursive inscriptions and the implementation of BRC-69. These advancements in the Bitcoin network have contributed to optimized costs, encouraging higher inscriptions.…

Marathon mined 21% less bitcoin in June partly due to bad weather in Texas

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Marathon Digital Holdings, a bitcoin (BTC) mining company with operations in the United States and the United Arab Emirates, has revealed that its performance in June was mixed, partly because of bad weather. In the last month of H1 2023, the miner produced 979 BTC, marking a 21% decrease from May. Bad weather in Texas, decreasing transaction fees The decline in production was attributed to weather-related constraints in Texas and a significant reduction in bitcoin transaction fees in…