Tag: Digital

Louis Vuitton Launches Treasure Trunk Digital Collectible Priced at €39,000

Each Treasure Trunk from Louis Vuitton is a soulbound token that opens owners to exclusive experiences and designs. French luxury fashion house Louis Vuitton has launched its iconic travel trunk as a digital collectible in a collection called the VIA Treasure Trunk. The launch is part of Louis Vuitton’s affinity for digital adoption and Web3. The Treasure Trunks are part of Louis Vuitton’s broader “Via” project. Translated from Latin as “road”, Via is the fashion house’s project that offers several products and experiences to a select few. Each Treasure Trunk…

Cboe Digital Bags CFTC Approval to Trade Bitcoin and Ether Futures

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The CFTC has officially given Cboe Digital the approval it needs to offer margined futures contracts trading to clients. Cboe Global Markets’ digital asset exchange has received approval to allow users to trade crypto futures contracts. Customers of the Cboe Digital platform will now trade Ether (ETH) and Bitcoin (BTC) futures contracts later this year following the CFTC’s approval for an amended order of registration. The Commodity Futures Trading Commission (CFTC) gave Cboe Digital approval to financially and physically settle margin contracts from the second half of the year. The…

Cboe Digital receives nod for margin trades on its crypto futures exchange

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Cboe Digital, a major options exchange in the United States, has had its application to offer margined futures contracts for Bitcoin (BTC) and Ether (ETH) approved by the United States commodities regulator. While Cboe has offered crypto futures contracts since December 2017, margin trades were not available to users. With the new approval, users will be able to trade Bitcoin (BTC) and Ether (ETH) futures with a fraction of what they initially had to put upfront.  The approval has also been seen as a positive step for Cboe as it…

Cryptocurrency Taxation: Navigating the Complex World of Digital Asset Taxes

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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…

Marathon Digital Holdings mined $33.8 million of bitcoin in May

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Marathon Digital Holdings, Inc., a bitcoin mining and blockchain technology company, shared updates regarding its bitcoin production and mining operations for May 2023. The firm also revealed that it mined 1,245 bitcoin (BTC) in May, a 77% increase from April and a 366% jump compared to May 2022. The company increased its operational hash rate by 9% to 15.2 exahashes per second (EH/s) and raised its installed hash rate by 13% to 20.1 EH/s. These augmentations…

Marathon Digital (MARA) Mined 77% More Bitcoin (BTC) in May With the Help of Its Software

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Marathon in the previous month produced markedly little bitcoin per exahash, which can be partly attributed to downtime of its mining machines. In April, Marathon mined 50 bitcoin per exahash of computing power, the least out of 14 publicly listed miners. In comparison, during April, peer CleanSpark (CLSK) mined 78 bitcoin, Riot Platforms (RIOT) had 61 and Hive Blockchain (HIVE) produced 81 bitcoin per exahash. Original

Hong Kong-based First Digital Group launches redeemable USD-backed stablecoin

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First Digital Group, a Hong Kong-based qualified custodian and trust company, announced the launch of its First Digital USD (FDUSD) United States dollar-pegged stablecoin on June 1. The new stablecoin is programmable and described as being capable of executing contracts, escrow services and insurance without intermediaries. It will operate on the BNB Smart Chain. FDUSD is being issued by First Digital Labs, a subsidiary of digital asset custodian First Digital Trust, which is regulated under the Hong Kong Trustee Ordinance. Under the law, FDUSD will be backed one-for-one with U.S.…

First Digital Group Launches FDUSD Stablecoin amid Hong Kong’s Regulation Move

FDUSD will not be used in Hong Kong until its stablecoin regulations are fully in place. First Digital Group announced the introduction of its USD stablecoin FDUSD. The company, which has its headquarters in Hong Kong, is launching the stablecoin on the Ethereum and BNB blockchains. Having a coin on multiple blockchains can facilitate better interoperability and broader adoption. It also heightens the chances of gaining access to a wider community and benefiting from each blockchain’s advantages. Lastly, this can also reduce the risk of over-dependence on one blockchain. The…