Category: CryptoX News

US Lawmaker Proposes Stricter Digital Asset Regulations to Enforce Russian Sanctions

U.S. Congressman Brad Sherman has proposed an amendment designed to enhance the enforcement of sanctions on Russian digital assets. The amendment allows the Treasury Secretary to prohibit crypto transactions linked to Russian entities and requires U.S. taxpayers to report crypto transactions offshore exceeding $10,000 to the Financial Crimes Enforcement Network (FinCEN). New Amendment Seeks to […] Source CryptoX Portal

Tesla CEO Elon Musk Warns Against Government Overregulation

Tesla CEO Elon Musk has expressed concern that excessive government expansion leads to more regulators than participants, negatively impacting the system. Musk acknowledged the need for regulators but stressed they should not outnumber players. He reiterated that the government should act as a referee, setting sensible rules without hindering industry progress. Elon Musk Says Government […] Source CryptoX Portal

Pyth Network launches GMCI 30 crypto market index

The Pyth Network has announced the launch of the GMCI 30 Index Price Feed, making the GMCI crypto market price index accessible to over 60 blockchain ecosystems.  This launch is a step towards providing smart contract and blockchain developers with real-time financial data. “We are excited to announce that Pyth Network will be streaming GMCI index prices,” said Maarten Botman, CEO of GMCI. “This collaboration represents a significant step forward in our mission to become the benchmark of choice in the crypto space.” GMCI specializes in creating indexes for digital…

Nuffle Labs Raises $13 Million to Expand Modular Infrastructure for Blockchain Layers

Nuffle Labs, a contributor to the Near Protocol and Ethereum, has secured $13 million in a funding round led by Electric Capital. The investment aims to enhance its modular infrastructure services across various blockchain layers, promising cost-efficient solutions and rapid data finality. Nuffle Labs Bags $13 Million for Modular Blockchain Expansion The Nuffle Labs funding […] Source CryptoX Portal

Okx Acknowledges Security Incident Involving Judicial Documents Forgery

Okx, a Seychelles-based cryptocurrency exchange, clarified the information regarding a recent security incident that allowed unidentified criminals to take control of the accounts of a few customers, draining these. In a statement, Okx stressed that a third party had forged judicial documents and obtained user data, but that the users involved in this incident had […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Study: Ordinals and Runes Reach $1 Billion Market Cap

In a significant milestone for Bitcoin-based non-fungible tokens (NFTs), the combined market capitalization of popular collections such as Ordinals and Runes has surged past $1 billion, according to Coingecko. This growth is underscored by increasing trading volumes and user adoption, signaling a robust expansion within the Web3 sphere. Report Reveals Emerging Dynamics in Bitcoin Ordinals […] Source CryptoX Portal

Digital ID Startup Spins off From Polygon Labs, Aims to Mitigate AI-Generated Misinformation Risks

Privado ID, previously known as Polygon ID, has announced its spin-off from Polygon Labs on June 13, 2024. The move aims to meet the global demand for digital identity and reputation solutions that work with both onchain and online data. Privado ID’s technology leverages decentralization and private interaction to reduce cost, complexity, and counterparty risk. […] Source CryptoX Portal