While non-fungible token (NFT) collectibles have become a hot commodity over the last 12 months, a number of NFT owners are taking loans out against their NFTs. This month, a project called Nftfi has facilitated $25.6 million in NFT loans so far, and last month the lending marketplace recorded nearly $50 million in NFT loans.
Over the past nine days, Bitcoin’s (BTC) daily closing price fluctuated in a tight range between $28,700 and $31,300. The May 12 collapse of TerraUSD (UST), previously the third-largest stablecoin by market cap, negatively impacted investor confidence and the path for Bitcoin’ price recovery seems clouded after the Nasdaq Composite Stock Market Index plunged 4.7%
Indian crypto businesses are struggling with the new tax policies as trading volumes have dried up and many established crypto firms are looking to relocate to more crypto-friendly jurisdictions. While many developed countries and even several of its Asian counterparts are actively studying and formulating better crypto regulations, the Indian government has maintained a “blockchain,
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Bitcoin Argentina, an NGO dedicated to the promotion and expansion of Bitcoin and cryptocurrency in the country, is going to take Bitcoin education to high schools. The project, called “Schools and Bitcoin,” will help educate high school students about the relevance of Bitcoin and the differences between this alternative system of money and the traditional
The US Department of Commerce is calling for submissions on how it can establish a framework that will bolster American economic competitiveness in digital assets including crypto and stablecoins. The Department of Commerce (DoC) intends on publishing a series of 17 questions in a request for comment through the International Trade Administration. The request will
On May 17, United States Federal Reserve Chairman Jerome Powell told the Wall Street Journal that the 50-basis-point rate hikes would continue until inflation is under control. Powell’s emphasis on a hawkish policy suggests that monetary conditions are likely to remain tight in 2022, which could limit the upside in risky assets. On-chain market intelligence
The blockchain firm Aave has launched the Lens Protocol, a social media project with applications built on the Polygon blockchain. Lens is similar to the social media platform Twitter but Lens profiles are linked to a non-fungible token (NFT) that can be ported into decentralized applications. Lens Protocol Is Live – Aave Founder Believes People
Seven major crypto companies — Binance.US, Circle, Solana Foundation, The Aave Companies, Hedera, TRM Labs and Civic — joined hands to launch a community-driven scam reporting tool. Named Chainabuse, the tool aims to enable crypto users to issue warnings and discuss ongoing fraudulent activity such as scams and hacks in real-time. Launched on Wednesday, the
Financial companies in Israel are increasingly moving into cryptocurrencies like Bitcoin (BTC), with two competing credit card firms working on BTC investment and cashback features. Two Israel-based credit card companies, Max and Isracard, have inked partnerships with crypto-related platforms in order to allow cardholders to purchase Bitcoin, the local news agency Calcalist reported on May
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes
Sam Bankman-Fried, the founder of the cryptocurrency exchange FTX, has given his take regarding the future of Bitcoin’s usage. Bankman-Fried stated he doesn’t believe that Bitcoin will work as a payments network, due to its limited capability for scaling to fulfill this task. However, he believes it might become “an asset, a commodity, and a
A report commissioned by South Korea’s federal government recommends the domestic crypto industry adopt a licensing system for exchanges and token issuers as a way of protecting investors. The report issued by the Financial Services Commission (FSC) to the National Assembly, the country’s legislature, also calls for new regulations to mitigate insider trading, pump and
There are early signs of the “dust settling” in the crypto market now that investors believe that the worst of the Terra (LUNA) collapse looks to be over. Viewing Bitcoin’s chart indicates that while the fallout was widespread and quite devastating for altcoins, BItcoin (BTC) has actually held up fairly well. Even with the May 12
Unless they have been cut off from all networks for a week, any crypto-investor is aware of the disaster that has affected the Terra (LUNA) project and its stablecoin UST. Salvage proposals for Terra project have multiplied since the start of the LUNA collapse. Do Kwon, the boss of the Terra blockchain, came out of
Following the aftermath of Terra’s UST implosion, the blockchain project’s founder Do Kwon has been actively discussing the Terra ecosystem revival plans and one specific proposal will be voted on May 18. The plan is to fork the blockchain into a new chain that does not include an algorithmic stablecoin, and the newly minted tokens
Central bank governors and finance ministers from the Group of Seven, or G7, are reportedly planning to discuss the regulation of cryptocurrencies. According to a Tuesday report from Reuters, Bank of France Governor François Villeroy de Galhau said representatives from the United States, Canada, Japan, Germany, France, Italy and the United Kingdom will likely speak
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Bitcoin (BTC) returned to $30,500 on May 17 amid hopes that a retest of 2017 highs could be avoided. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $20,000 retest ‘highly unlikely’ Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing after the daily close to tentatively build on $30,000. Still, in a multi-day range, the
Portugal, one of the countries considered a crypto tax haven due to its absence of crypto-related taxation, is preparing to change this policy. Fernando Medina, minister of finance of Portugal, stated that the country is working on a framework to allow the taxation of cryptocurrency income gains following the principles of “justice” and “efficiency,” and
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