Participants increased their wagers on the outcome of the US presidential election in June, driving the monthly trading volume of the decentralized predictions platform Polymarket above $100 million. Individual “Yes” or “No” bets across 17 prediction markets total $203.3 million in “Presidential Election Winner 2024” currently. There has been a
July 1, 2024 2 mins read
A Money Transmitter License (MTL) is no longer necessary for cryptocurrency businesses in Hawaii to operate legally. On June 30, 2024, the state of Hawaii’s Digital Currency Innovation Lab (DCIL), a collaborative crypto research initiative, ended, according to the state’s Department of Commerce and Consumer Affairs (DCCA). Launched in 2020,
July 1, 2024 2 mins read
On June 28, the US Internal Revenue Service (IRS) updated the industry’s understanding of who will be impacted by new reporting requirements for crypto brokers and released the final version of those rules. Moreover, decentralized exchanges and self-custody wallets are exempt from the new reporting requirements set forth by the
June 29, 2024 1 min read
On June 27, YouTuber Stephen Findeisen, popularly known as “Coffeezilla,” was sued by influencer Logan Paul for defamation over videos he made in 2022 about Paul’s failing CryptoZoo non-fungible token (NFT) project. Furthermore, claiming that Findeisen falsely and maliciously accused Paul of running a fraud in relation to a problematic
June 28, 2024 2 mins read
Jesse Powell, Kraken’s co-founder and chairman, recently made headlines for a large personal contribution he made to the 2024 presidential campaign of former president Donald Trump. A major player in the cryptocurrency industry, Powell has donated $1 million to Trump’s campaign, mostly in Ethereum (ETH). In a recent social media
June 28, 2024 2 mins read
AdEx announced the launch of its platform and changed its focus to become a tool mainly for Web3 advertisers that want to interact with a wider Web2 audience. A number of technical advancements are included in the revised platform, such as the incorporation of Zero-Knowledge (ZK) privacy protocols and artificial
June 27, 2024 1 min read
In tandem with the crypto market decline, the sales volume of non-fungible tokens (NFTs) fell by 45 percent from the previous quarter. NFT sales continued their increasing trend from the fourth quarter of 2023, reaching $4.1 billion in the first quarter of 2024, according to statistics from CryptoSlam. The volume
June 26, 2024 1 min read
It seems that the Dencun upgrade to the Ethereum blockchain in March is to blame for the longest inflationary phase in the quantity of fresh Ether since the Merge in 2022. Since April 14, the total supply of Ethereum (ETH) has increased by more than 112,000 ETH, as reported by
June 26, 2024 2 mins read
Amidst the most volatile week of 2024 in the cryptocurrency market, the transaction costs for Bitcoin and Ether hit a new low, the lowest in several months. With a low of $1.93 per transaction on June 23, the average Bitcoin transaction fee hit its lowest point since October 2023. The
June 24, 2024 2 mins read
A recent purchase has expanded the Bitcoin holdings of Metaplanet, a prominent Japanese investment firm. This decision reflects the firm’s increasing confidence in Bitcoin as a valuable asset and complements the broader trend of more institutions investing in cryptocurrency. Metaplanet, also known as “Asia’s MicroStrategy,” revealed a huge purchase of
June 24, 2024 2 mins read