XRP hits 13-month high versus Bitcoin with 35% daily surge — But is a correction inevitable?
The XRP price rally appears to be driven by a “buy-the-rumor” frenzy in a potential lawsuit win for Ripple versus the SEC.
Crypto
Bitcoin Miner Marathon Digital Downgraded at BTIG on Headwinds From Compute North’s Bankruptcy
Compute North is Marathon Digital’s primary mining hosting provider.
El Salvador’s Bitcoin decision: Tracking adoption a year later
El Salvador made history last year in September by making BTC a legal tender. One year later, the falling BTC prices and delayed Volcanic bonds have fueled skepticism.
Italy’s AC Milan Launches NFT Game With MonkeyLeague
The new partnership with an esports franchise signals the soccer champion’s latest step forward into the Web3 world.
Post offices adopting NFTs leads to a philately renaissance
Nonfungible tokens are being used to reinvigorate post stamp collecting in Austria and the Netherlands.
Gaming Tokens GODS, APE Up Double-Digits Over The Week
Despite market-wide bearish sentiment, gaming and metaverse-related tokens including GODS and APE have posted significant weekly gains.
Is the bottom in? Crypto community shares their thoughts
From waiting for Bitcoin prices to go lower to hoping that the fun goes on, community members shared their thoughts on crypto prices.
Celsius Shareholders File to Stake Their Claim for Bankruptcy Payouts
A motion filed by lawyers says the Celsius bankruptcy is “all about the customers” and “without regard for the equity holders.”
United Kingdom Introduces Bill to Make Crypto Seizures ‘Easier and Quicker’
The Economic Crime and Corporate Transparency bill modernizes existing legislation to counter new forms of money laundering and cyber crime.
Binance Hired Compliance SVP From Rival Crypto Exchange Kraken
Cryptocurrency exchange Binance hired Steven Christie as its senior vice president (SVP) of compliance from rival Kraken in May, according to a Wall Street Journal (WSJ) report Friday.
China accounts for 84% of all blockchain patent applications, but there’s a catch
China’s push for blockchain technology gained steam after 2019 when President Xi Jinping called for corporations from tech giants to become industry leaders in the nascent tech.
IRS Targets Crypto Tax Evaders With M.Y. Safra Bank Summons Over SFOX Data
A New York court has granted the IRS permission to serve a ‘John Doe’ summons on a bank that provided services for SFOX customers.
European stock exchange to list Bitcoin carbon neutral ETP
The environmentally-focused financial product was introduced by a subsidiary of DeFi Technologies.
Metaverse Infrastructure Firm Hadean Raises $30M From Fortnite Developer, Others
Hadean, a company aiming to build the infrastructure for metaverse environments, raised $30 million in a funding round that included online video game Fornite developer Epic Games among the investors.
IRS to summon users who don’t report and pay tax on crypto transactions
The summons requires M.Y. Safra Bank to submit information about taxpayers who failed to report and pay their taxes on crypto.
GitHub unbans Tornado Cash repositories following OFAC guidance
Ethereum developer Preston Van Loon encouraged GitHub to fully restore Tornado Cash’s repositories after partial unbanning.
Nifty News: Zilliqa teases Web3 gaming console, Funko teams up with Warner Bros. and more…
Specifications on Zilliqa’s “user-friendly” console are yet to be revealed, but a prototype design resembling an Xbox console has been released.
BTC mining firm Compute North files for bankruptcy
Compute North’s hosting partners Compass Mining have stated that the firm will continue to operate business as usual at this stage.
Israeli crypto exchange receives capital markets license in country first
Earlier this week, the Israeli crypto exchange became the first crypto firm in the country to receive a license enabling it to work with local banks.
Washington State Joins Celsius Bankruptcy Case as Interested Party
The state’s move continues a trend of state-level regulators moving faster than the feds on regulating crypto.
Ethereum Merge Vastly Increased Stakefish’s Profile, but 25% of Its Employees Are Gone Anyway
Layoffs at stakefish took effect on the same day as the Ethereum Merge – just as they were set to play a key role in securing the revamped blockchain.
CTFC slammed for ‘blatant regulation by enforcement’ over Ooki DAO case
The CFTC’s actions have even been met with strong pushback from its own commissioner, while others have drawn comparisons to the SEC’s regulation by enforcement tactics.
US IRS Can Issue Summons to Bank Serving Crypto Broker SFOX Customers in Search of Tax Evaders
The John Doe summons will require M.Y. Safra Bank to provide information about SFOX customers who used the bank and may owe taxes on crypto transactions.
Rep. Warren Davidson: Stablecoin bill has ‘outside chance’ of finalizing this year
Earlier this week, new draft legislation on stablecoins came to light aimed at “endogenously collateralized stablecoins.”
Fork, yeah! Cardano Vasil upgrade goes live
Cardano’s newest hard fork is the blockchain’s most significant update since adding smart contract functionality last September.
Many NFT projects lack adequate smart contract testing, says nameless founder
Last year, the Akutars NFT collection sold out 15,000 tokens, but a major big saw $33 million worth of Ether (ETH) generated from sales locked into an inaccessible smart contract.
First Mover Asia: As the Fed Hikes Rates, Ether, USDC Lending Yield Pays Less Than T-Bills; Bitcoin Rises, Holds Over $19K
First Mover Asia: The average yield one can expect for lending USDC via DeFi protocols is 0.98%; the current one-year Treasury bond is paying 4.08%.
Rushing ‘token mapping’ could hurt Aussie crypto space — Finder founder
Australian crypto entrepreneur Fred Schebesta said Australia already has a “fledgling” crypto industry but needs to “align with the other major markets.”
Ethereum Miners’ $319M Crypto Hoard Hangs Over Market After Merge
Miners dumped over 16,000 ETH, worth more than $20 million, in the past week, on-chain data showed.
The ETH Merge Did Little to Energize a Tepid NFT Market
Volume on one of the industry’s top marketplaces, OpenSea, has had little movement before and after the Merge, to the surprise of many.