Russian authorities have confiscated 238 mining rigs from a community that is said to be entirely focused on gardening. The Irkutsk region in Southeastern Siberia has become the unofficial capital of the Russian Bitcoin mining sector, where illegal crypto mining continues. This is due to its famously low energy rates,
September 3, 2024 2 mins read
In August, the DeFi protocols fee accumulation dropped 24% from July. DeFi protocol’s total amount of fee, excluding the base layers is $288 million. This has recorded the lowest since February. In February, the total was $265.18 million. Uniswap led the list with protocol fees of over $85.44 million. August’s
September 2, 2024 1 min read
OKX, a global cryptocurrency spot, and derivatives exchange which is now fully licensed in Singapore, hires former Monetary Authority of Singapore (MAS) officials as local CEO. OKX’s Singapore entity OKX SG received the full Major Payment Institution (MPI) license from the Monetary Authority of Singapore. This allows them to offer
September 2, 2024 2 mins read
Oasys, a blockchain platform built for games partners up with SBI Holdings, Inc., one of Japan’s largest financial conglomerates to improve and boost the Web3 gaming in Japan. SBI is known for its collaboration with multiple companies. It is ranked among the top 25 by market capitalization. This partnership includes
August 29, 2024 1 min read
Indonesia is considering banning Telegram due to allegations of spreading pornography and promoting online gambling. According to Demandsage data, Indonesia ranks as the third-largest country in terms of Telegram usage. Budi Arie Setiadi, Indonesia’s Minister of Communication and Informatics said that Telegram promised to improve content moderation following the government’s
August 29, 2024 2 mins read
Radix, a decentralized finance platform is removing 15 percent of their staff from the company. Piers Ridyard, the CEO of RDX Works (Radix) has updated this to all the members of his Telegram channel. These layoffs are said to be a broader set of necessary adjustments. He says that this
August 29, 2024 2 mins read
Binance blocked Palestinian crypto funds. The exchange seized cryptocurrency from Palestinians as per the request of the Israel Defence Force (IDF). They refused to return the funds and all the appeals have been denied. Moreover, the assets are frozen and seized. Also, #BoycottBinance is currently trending on Twitter. In addition
August 28, 2024 1 min read
Maker, a leading platform in decentralized finance, has recently undergone a rebranding and is now known as Sky. Alongside this change, their widely-used stablecoin, previously known as DAI, has been upgraded and rebranded as USDS. Users can upgrade from DAI or convert from USDC to NetStable at a 1:1 ratio.
August 28, 2024 2 mins read
Sony is launching the first public testnet for its Soneium blockchain. The Group entered the blockchain space five days ago. They partnered with Startable Labs to launch Soneium, an Ethereum Layer-2 blockchain. Sony Block Solution Labs, Sony’s blockchain division created this project to connect the everyday internet services of Web3
August 28, 2024 2 mins read
The Ministry of Revenue introduced the taxation bill. This new proposal is to implement the crypto-reporting framework created by the Organisation for Economic Cooperation and Development (OECD). This was introduced by Hon Simon Watts on 26 August 2024. The proposals will take effect from 1 April 2026, with the first
August 27, 2024 2 mins read