In this category of NewsCrypto, you will find news covering the whole cryptocurrency market and delivering the most recent developments in the industry. The market news section is constantly updated by a team of writers worldwide, who work tirelessly to bring you the most up-to-date information. Investors, standard readers, and financial lovers worldwide may find the most up-to-date information about the cryptocurrency and blockchain industry in the market news area. The website focuses on providing readers with unbiased information on current crypto market movements.
Bitcoin, the original blockchain, has been facing significant challenges in recent times. Network congestion and soaring transaction fees have raised concerns among Bitcoin enthusiasts. The surge in activity, primarily driven by the emergence of BRC-20 tokens and ordinals, has put Bitcoin’s scalability to the test. While some maximalists advocate for
The past week has been a rough ride for the crypto industry, with a series of unfortunate events leading to significant setbacks for some of the most prominent players in the market. From regulatory crackdowns to legal battles and price drops, here’s a roundup of what went down. Binance Shuts
Florida Governor Ron DeSantis signed legislation prohibiting the use of Central Bank Digital Currencies (CBDCs) in the state without legislative approval. Because the federal government is considering issuing a CBDC, which, according to its detractors, would grant it unprecedented power over citizens’ financial activity, this is particularly timely. The new
According to the Forbes report, Kelly Phillips Erb 2 wrote that the President of the U.S., Joe Biden is closing the tax loopholes worth $18B. These loopholes support wealthy cryptocurrency investors. Notably, the $18B could be the harvest tax losses along with the wash sales. We don’t have to guess
BlockFi, a digital asset ledger obtained court permission on May 11, 2023. The permission includes giving back $297 million to users who are non-interest-bearing accounts and not to those who moved their payments just a minute ago. BlockFi has undergone bankruptcy last year and the founder credentials of the user
After closing in March, Silvergate Capital, a cryptocurrency-friendly bank that served industry giants like Coinbase and Gemini, is continuing to wind down. On Thursday, the company announced it would be laying off 230 workers, leaving only a core group of 80 to oversee the liquidation. A rough year for Silvergate
Earlier today, the United States Internal Revenue Service (IRS) filed 45 claims accounts worth 44 billion dollars against FTX, the collapsed cryptocurrency exchange platform. Along with this, it associates with the related firms as well. More About IRS Claims The claim reports include the partner companies of FTX such as
The BRICS Alliance reported that they are set to discuss the launch of a common currency used for international trade. This report comes ahead of their annual summit, which will take place this summer. The nations are continuing to put their efforts into degrading the U.S. dollar’s dominance in international
Over 11k new mining machines have been purchased by Cipher Mining (CIFR), a major Bitcoin mining data center company. This purchase happened with Canaan Inclusion, a computing solutions provider on May 9, Tuesday. Furthermore, the announcement of new A1346 model mining machines is getting ready to be launched in the
A new crypto regulation named CRPTO Act came into existence, to secure all the New York-based crypto investors with their finances. Letitia James, the General Attorney of New York announced the legislative proposal of the CRPTO Act on May 8. The laws on the regulations are set to discard the
