On Monday, Circle Internet Financial, the firm behind the stablecoin USDC, made the formal announcement that it was dissolving its special purpose acquisition company (SPAC) with Concord Acquisition. The original proposal for the corporate merger was made public in July 2021. The firms’ boards of directors, both at Circle and
Central bank digital currencies (CBDCs) are seen by regulators throughout the globe as a method to improve fiat capabilities by emulating the technological innovations that fuel cryptocurrencies and their associated financial prowess. Following suit, Pakistan has announced new legislation to facilitate the introduction of a domestic CBDC by 2025. Moreover,
In a hearing on Thursday titled “Why Congress Needs to Act: Lessons Learned from the FTX Collapse,” U.S. Senator John Boozman (R-AR), the ranking member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, discussed bitcoin and cryptocurrency regulation. Moreover, the committee’s mandate includes monitoring the American commodities markets.
Michael Burry, the founder of the investing company Scion Asset Management, has predicted the coming of a “real recession” that would persist for many years. Burry is well-known for predicting the 2007–2010 U.S. subprime mortgage crisis and making money off of it. The movie “The Big Short,” starring Christian Bale,
Despite the volatile price of Bitcoin, a recent analysis by Kommersant shows that purchases of Bitcoin mining devices in the nation skyrocketed in the fourth quarter. Low costs for gear and power have also contributed to the dramatic growth. Sales at Chilkoot, one of Russia’s authorized dealers of cryptocurrency mining
The company behind the USDT stablecoin, Tether, has reportedly been lending its coins to consumers rather than selling them for cash, according to a new report. Tether has been criticized for its lack of openness in not publishing the exact amount of USDT reserves it has, and the report claims
Binance, the biggest cryptocurrency exchange in the world, has completed the sixth batch of the LUNC burn mechanism, burning nearly 6 billion Terra Classic (LUNC) tokens. With its most recent burn, Binance has now burned about 20 billion LUNC tokens from trading fees on LUNC spot and margin trading pairings.
Adding to the recent measures taken by Portugal, another European nation plans to increase crypto trading taxes. Italy’s proposed budget for 2023 includes a measure that would impose a whopping 26% tax on crypto-related capital gains. This tax bracket, however, kicks in whenever crypto revenues are above €2,000 (approx $2,062).
Casa, a business that provides security services for Bitcoin, stated on Wednesday that it will soon begin offering the same solutions for Ethereum and assets built on top of it. According to a statement released by Casa, the firm will begin rolling out Ethereum compatibility to users in January. Casa
After a year of volatility in the cryptocurrency market, prices have started recovering in recent days. Yesterday, there was a significant increase. The coins are still trading in the green, prompting optimistic forecasts for the year-end. Shiba Inu prices have gained marginally in the last day. As of this writing,
