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Meta drops 15% on weak outlook and high AI and metaverse spending
25.4.2024
Meta shares dipped after a disappointing Q2 revenue outlook and plans to spend nearly $100 billion this year as it aims to “invest aggressively” in its AI products
Super Sushi Samurai Token Crashes by 99% After Critical Exploit
22.3.2024
Following a critical double-spending glitch, the GameFi project Super Sushi Samurai token's market value plummets 99.9% with $4.8 million withdrawn from its liquidity pool.
The post Super Sushi Samurai Token Crashes by 99% After Critical Exploit appeared first on Cryptonews
Terraform Labs Secures Dentons Representation Despite Objections, U.S. Court Decides
13.3.2024
US Judge Brendan Shannon has granted bankrupt crypto company Terraform Labs permission to hire Dentons for its legal representation, according to a report by Reuters. Shannon approved the hiring at a bankruptcy court hearing in Wilmington, Delaware after he deemed Terraform’s legal spending...
President Biden Proposes Crypto Mining Tax and Wash Sale Rule in 2025 Budget Proposal
11.3.2024
President Biden's 2025 budget proposal aims to introduce a crypto mining tax and close the wash sale loophole for digital assets. The move faces opposition from House Republicans, who criticize the administration's spending. As the 2024 presidential race heats up, the outcome could shape the future...
Terraform Labs Pushes Back Against SEC Over Special Counsel Payment
5.3.2024
Crypto firm Terraform Labs has filed a lawsuit against the US Securities and Exchange Commission. The suit addresses the recent objection from the regulator over a $166M retainer paid to special litigation counsel Dentons. The SEC’s argument lies in the fact that the crypto firm’s lavish spending...
New Study Shows Kids Are Bullied For Not Spending Money In Free-To-Play Games
27.2.2024
New data from Norway examines how video games influence children, their social behaviors, and their spending habits. It turns out, younger players are being bullied over their lack of cosmetic skins, are using in-game items to become more popular, and are struggling to avoid all the ads...
Republican Senators Propose Legislation to Prohibit CBDC: The Hill
27.2.2024
U.S. GOP legislators have proposed a bill to ban Federal Reserve-backed central bank digital currencies, citing concerns over privacy and government access to citizens’ spending data.
The post Republican Senators Propose Legislation to Prohibit CBDC: The Hill appeared first on Cryptonews
Shiba Inu Price Prediction as SHIB Breaks 2-Month Downtrend – New Peaks Ahead?
9.2.2024
The Shiba Inu price has risen by 2% in the past 24 hours, climbing to $0.000009365 after spending nearly two months on the decline. Its gain comes on a day when the cryptocurrency market as a whole has risen by 3%, with SHIB having increased by 3.5% in the past week and by 5.5% in […]
The...
Blockchain Parser Discovers Strange Spending of $58.7M Worth of Sleeping Bitcoins From 2017
5.2.2024
In the past week, several strange movements of dormant bitcoins have captured the attention of onchain analysts, with nine transactions on Jan. 31, 2024, mobilizing 726 bitcoins that had been stagnant since Mar. 30, 2016. Merely two days after, a staggering 1,210 bitcoins, originating from...
dYdX Foundation Requests $30M Budget, Pledges to Issue Annual Spending Report
30.1.2024
The Foundation wants to preserve an 18 month runway through at least mid-2026
Police Catch South Korea’s ‘$3.5m Nursing Care Fund Crypto Thief’
11.1.2024
Source: papii/Adobe Police in the Philippines have arrested a South Korean man suspected of stealing some $3.5 million from a nursing care fund – and spending the money on crypto. Officers think the 44-year-old man, unnamed for legal reasons, embezzled the money from April 2022 to September 2022....
China Looks to Ramp up ‘Cross-border’ Digital Yuan Spending
1.1.2024
Source: Keitma/Adobe Chinese bank chiefs are looking to start 2024 by driving up “cross-border” digital yuan spending. Per the Haikou Municipal Commerce Bureau (via Hainan News), the tourism hub of Haikou has begun issuing over $706,000 worth of “offshore tax-free coupons” for digital yuan-paying...
Economist Harry Dent’s Grim Prediction — 2024 Market Crash to Eclipse Great Depression
21.12.2023
In a recent interview with Fox News, renowned economist Harry Dent issued a dire prediction for the global economy, forecasting 2024 to be the year of the most significant financial crash in living memory. Citing a combination of overvalued markets, excessive stimulus spending, and artificial...
Galaxy Digital CEO Mike Novogratz Says He Was ‘Dead Wrong’ About XRP and Ripple
13.12.2023
Galaxy Digital founder and CEO Mike Novogratz has admitted that his past perception of XRP and Ripple was “dead wrong.” Novogratz now sees Ripple as an institution and the XRP army as a “real” organization that cares about the ecosystem and the coin. The billionaire...
FCA Slow to Take Crypto Enforcement Action, UK's Public Spending Watchdog Says
11.12.2023
Even when the financial regulator has the power to act, years can go by before it takes enforcement action, the U.K.'s National Audit Office said
Singapore, China to Begin Piloting Digital Currency in Tourism Spending Push
7.12.2023
Source: AdobeStock / Proxima Studio Singapore’s regulatory body the Monetary Authority of Singapore (MAS) plans to begin piloting the digital currency “E-CNY” – also known as the digital yuan, in collaboration with China to encourage tourism spending. The two countries first signed a Memorandum...
Cryptocurrency Industry Spends Record $18.96 Million in Federal Lobbying So Far in 2023
5.12.2023
Source: AdobeStock The cryptocurrency industry has spent a staggering $18.96 million in federal lobbying in the first three quarters of 2023. The figure surpasses the $16.1 million spent during the same period in 2022, Reuters reported, citing data from nonprofit research group OpenSecrets. ...
Coinbase CEO Alleges Bitcoin May Be the “Key to Extending Western Civilization”
4.12.2023
Coinbase CEO Brian Armstrong claims Bitcoin “may be the key to extending Western Civilization,” according to a series of posts made from his X account Sunday night. “An antidote to inflation” “The natural trend of whichever country has the reserve currency is to inflate the money supply...
Social Media Speculates if F2Pool is Censoring Transactions, Founder Responds
22.11.2023
0x10BC, a Bitcoin development blogger, has unveiled data potentially suggesting that F2Pool has censored a number of recent transactions. What 0x10BC’s data says 0x10BC, who runs a mining pool observation project with the aim of detecting potential unrecognized potential Bitcoin transactions...
U.S. Crypto Lobby Spending Surpasses $20 Million in 2023, On Track to Beat 2022 Record
17.11.2023
Adobe Over $20 million has been spent on crypto-related lobbying in the United States this year, a new report shows. According to a recent CoinGecko report, the amount spent on cryptocurrency lobbying was $20.19 million, a figure set to break last year’s $22 million mark as recent data does...