Tag: finance

Sanctions Motivate Russia to Create Own Crypto Market Infrastructure, Finance Ministry Says – Regulation Bitcoin News

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With sanctions cutting off Russia from global finances, Moscow’s motivation to establish a domestic market infrastructure for digital assets grows, a top official at the Russian finance ministry has noted. The comment comes as Russians are losing access to foreign crypto platforms. Russia Recognizes Need for Local Crypto Assets Market Amid expanding international sanctions over the invasion of Ukraine, Russia has been turning its attention to cryptocurrencies while concerns in the West are growing that the country may use them to circumvent financial restrictions. The penalties have also affected the…

LBank Exchange Will List Lilly Finance (LY) on April 2, 2022 – Press release Bitcoin News

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press release PRESS RELEASE. INTERNET CITY, DUBAI, April 1, 2022 – LBank Exchange, a global digital asset trading platform, will list Lilly Finance (LY) on April 2, 2022. For all users of LBank Exchange, the LY/USDT trading pair will be officially available for trading at 21:00 (UTC+8) on April 2, 2022. Inspired by Lillian Bay, a young women born with a rare disorder known as cystic hygroma, Lilly Finance (LY) was created utilizing the power of blockchain technology and cryptocurrency to improve health care and build a future of health…

IMF Warns Russia Sanctions Threaten to Undermine US Dollar Dominance – Finance Bitcoin News

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Financial sanctions imposed on Russia over its invasion of Ukraine may result in reduced dominance of the U.S. currency, according to a high-ranking official at the International Monetary Fund (IMF). The confrontation could lead to fragmentation of the world’s current monetary system, the top representative warned. New Currency Blocs May Emerge Amid Mounting Restrictions on Russia, IMF Says Russia’s decision to invade Ukraine has been met with waves of Western sanctions that have limited Moscow’s access to its foreign currency reserves and the global financial market. According to Gita Gopinath,…

Layerzero Labs Secures $135 Million to Bolster Cross-Chain Interoperability – Finance Bitcoin News

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Layerzero Labs, the firm behind the interoperability protocol Layerzero, has revealed the company has raised $135 million in a Series A+ finance round led by Andreessen Horowitz (a16z), FTX Ventures, and Sequoia Capital. The new financing brings Layerzero Labs’ overall valuation to $1 billion and the funds will be leveraged to develop cross-chain decentralized applications (dapps) powered by Layerzero. Layerzero Raises $135 Million From Andreessen Horowitz, FTX Ventures, Sequoia Capital On March 30, 2022, the company Layerzero Labs announced it had secured $135 million in a Series A+ funding round.…

Bitcoin mining finds fresh support from Russian Finance Ministry

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As Russia continues to work on new regulations for the cryptocurrency industry, the Russian Ministry of Finance has expressed fresh support for Bitcoin (BTC) mining. Russia should encourage the development of industrial-level cryptocurrency mining in the country, the Ministry’s director of the financial policy department Alexey Yakovlev urged. There’s also no point in banning retail or household Bitcoin mining, Yakovlev said, as the local publication Prime reported on Thursday. The Russian lawmakers discussed the two categories of cryptocurrency miners at a recent round table called the “Mining regulation in Russia:…

Composable Finance Raises $32 Million in Series A

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Composable Finance is pleased to announce that it has raised $32 million in Series A funding. The round included notable investors in the space. GSR, Tendermint Ventures, Fundamental Labs, Coinbase Ventures, LongHash Ventures, Figment VC, New Form Capital, Blockchain Capital, Yunt Capital, Jump Capital, Polytope Capital, NGC Ventures, SOSV, and Spartan Group were among those who participated. This latest round of funding marks another step in Composable’s journey to build and launch what it believes to be the final missing “LEGO” building block in the Web3 and DeFi technical stack:…

Ola Finance Exploited for $3.6M in Re-Entrancy Attack

The attack comes after this week’s disclosure of a $625 million exploit of Axie Infinity’s Ronin network – one of the largest in decentralized finance (DeFi) history. While much smaller in comparison, the Ola attack stands as a reminder of how multimillion-dollar thefts – now commonplace in DeFi – continue to pile up as big money flows into lesser-known ecosystems. Source

30% crypto tax becomes law in India following Finance Bill approval

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The Indian Finance Bill 2022 with new 30% crypto tax rules was approved by the Rajya Sabha, the upper house of the Indian parliament, to make it a law today that will come into effect starting on April 1. The approval of the bill by the upper house of the parliament comes within a week of the lower house (Lok Sabha) approval. The Finance Bill was introduced during the budget session 2022-23 of the parliament in January. The Finance Bill amended tax rules to impose a 30% crypto tax on digital…

Gumi Cryptos Reveals $110 Million Fund Targeting Early-Stage Blockchain Startups – Finance Bitcoin News

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On March 30, Gumi Cryptos Capital (GCC), announced the blockchain-focused venture capital firm’s second fund that will invest $110 million in early-stage blockchain startups. The second fund follows GCC’s initial $21 million fund that backed seed stage founders. Gumi Cryptos Capital Reveals Fund II — Firm Will Invest $110 Million Into early-Stage Blockchain Startups The blockchain-focused venture capital firm Gumi Cryptos Capital (GCC) has announced the launch of a $100 million fund that will be focused on blockchain concepts like decentralized finance (defi), game finance (gamefi), Web3, and other types…