Crypto Financial News

NFT trading craze where names are bought and sold for eye-popping sums is providing a multi-million-dollar lifeline for speculators shivering in the bleak crypto winter. «Domain» names such as coin.crypto (which has sold for $100,000) and beer.eth (which fetched $39,000) are a new breed of NFTs that owners can use to replace the jumble of 16 random numbers and letters that form their digital wallet addresses. It might seem a lot of money for the crypto equivalent of a custom car plate, yet backers say these names could become valuable real estate in the years to come with the advent of Web3, a much-hyped vision of a future internet built on blockchain. Right now the trading market for these alternative assets is providing rich — and risky — pickings for some investors who are scooping up buzzy domains with the aim of flipping them for a profit in the secondary market on NFT platforms like OpenSea.

Kim Kardashian has agreed to pay $1.26 million to settle Securities and Exchange Commission charges that she promoted a cryptocurrency on Instagram without disclosing she'd been paid $250,000 to do so. The SEC said Monday that the reality TV star and entrepreneur has agreed to cooperate with its ongoing investigation. The SEC said Kardashian failed to disclose that she was paid to publish a post on her Instagram account about EMAX tokens, a crypto asset security being offered by EthereumMax. Kardashian's post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens.

crypto exchange WazirX has reportedly laid off 40 per cent of its total workforce. A total of 50 to 70 employees of the 150 workers at the exchange were asked to go, CoinDesk reported, citing sources. The laid-off employees were informed on Friday that they would be paid for 45 days and that they would no longer be needed to report for work. «The crypto market has been in the grip of a bear market because of the current global economic slowdown,» WazirX was quoted as saying in a statement.

Kaiko Research, in what analysts said was likely a rush by investors to dump their sterling for the digital asset or profit from arbitrage. The pound fell to a record low against the dollar on Monday, having plunged the previous Friday after the UK government announced unfunded tax cuts. The volume of transactions in the bitcoin-sterling trading pair across eight major exchanges globally spiked to a record high of 846 million pounds ($920 million) on Monday, according to Kaiko Research, compared with an average of around 54.1 million pounds a day so far in 2022. The surge was likely due to traders swapping sterling for bitcoin, said James Butterfill, head of research at crypto firm CoinShares.

Brett Harrison, the president of FTX US, has joined a growing list of crypto leaders who are leaving their executive roles in the industry. 

crypto tokens found their mojo back on Tuesday as the total market capitalization of the digital assets topped the $1 trillion mark once again. According to the data from Coingecko, the total market cap of digital tokens was recorded at around $1.01 trillion as of 13.30 hours IST on Tuesday, after rising more than 6 per cent in the last 24 hours.Bitcoin surged 7 per cent to regain the $20,000 mark, whereas Ethereum jumped on similar lines, flirting with $1,400 levels. These two tokens contribute over 55 per cent to the total crypto m-cap. Meanwhile, altcoins, including Terra' Luna Classic zoomed about 50 per cent, whereas Uniswap rallied 18 per cent. Stepn, Polkadot, and Aave also gained up to 14 per cent.

The crypto industry has scored a win with California Governor Gavin Newsom vetoing a bill that would establish a licensing and regulatory framework for digital assets.

Shiba Inu has dropped by 6.4% in the past 24 hours. SHIB’s 24-hour dip adds to the intense bearish pressure that has seen it lose 19% of its value over the past month. At the time of writing, SHIB was trading at $0.00001124.

Dogecoin has been on a slightly bullish pump during the past 24 hours. According to CoinGecko, the largest memecoin has gained by 10% within 24 hours to trade at $0.068 at the time of writing.

The Internal Revenue Service (IRS) has received authorization from a U.S. district judge to sniff out individuals who attempt to sidestep taxes on their cryptocurrency transactions. The order comes at a time when digital asset adoption is seeing a surge, and the number of crypto tax evaders is subsequently increasing.

Metaverse technology has continued to be the rage among big-name brands that are now dolling out million-dollar paychecks to so-called "chief metaverse officers" to think up their metaverse adoption strategy. 

Odell, an analyst at British crypto lender Blockchain.com, instant messaged Edward Zhao of Three Arrows Capital asking that the Singapore hedge fund repay at least part of a $270 million loan. Three Arrows had just taken a hit from the collapse of cryptocurrency Terra, raising doubts about its ability to repay. That was a worry for Blockchain.com since it had not taken collateral to secure the loan, court filings show. «This is time sensitive so let's sort if you're available,» Odell said of the repayment. Zhao appeared lost for words.

The cryptocurrency market has experienced modest gains over the past day after trading significantly below average to begin the week. Despite investors' cautious optimism about coin prices, it appears that there are still opportunities to profit.

Online casinos have evolved to meet the majority of gambling and gaming needs of diverse players worldwide. While some players enjoy playing live at brick and mortar casinos, many others prefer to use cryptocurrency to play online casino games and earn great rewards; this is why Bitcoin casinos have emerged. 

cryptocurrencies amid fears of a further aggressive rate hike by the US Fed and inflationary woes during the last week, top cryptocurrencies on September 18 were seen gaining some ground. The largest crypto by market capitalisation Bitcoin (BTC) regained USD 20,000 levels. Ethereum-the second largest token by m-cap that took a sudden beating post the much sought-after merge event was seen firm by close to 1 per cent at USD 1,450. Notably, post the mega ‘Merge’ event, Ethereum witnessed a severe rout and after posting initial gains, the token registered its downtrend. “It seems likely that a mix between the still-high correlations and investors looking to 'sell the news' led to ether's severe drop in spite of the milestone accomplished,” IntoTheBlock wrote in a research note Friday. For NFTs or non-fungible tokens there is seen a different momentum after the long-awaited upgrade of the Ethereum blockchain. Sales and prices of NFTs have surged, according to crypto data tracker DappRadar. The upgrade, known asthe Merge, also seems to have benefited marketplaces that sell NFTs based on Ethereum, which is the most popular blockchain for this type of token, added a Bloomberg report. According to the Coinmarketcap data, while the global crypto market-cap has inched higher by 0.76 per cent over the previous day to $972.06 billion, the volumes in the market have softened by close to 26 per cent during the same period to $48.00 billion.

The cryptocurrency market is currently experiencing yet another crash. Coin prices are trading lower due to increased pressure from the broader economy and fears that the Federal Reserve would again raise interest rates. Several investors wonder if most large-cap coins will test their multi-month lows once more.

The administration of President Joe Biden has recently released a regulatory framework for digital assets, but key participants in the space do not believe it adequate.

crypto world's most ambitious software upgrade, Ethereum completed a key revamp of its blockchain network-- the Merge. The second-largest crypto token has now moved to the proof-of-stake (PoS) mechanism from Proof-of-Work (PoW). This is the first instance when an existing and running blockchain has made such a move. Following this, Ethereum's energy consumption will drastically drop by 99.9 per cent. Ethereum developers say the upgrade will make the network – which houses a $60 billion ecosystem of crypto exchanges, lending companies, non-fungible token (NFT) marketplaces and other apps – more secure and scalable. Following the merge, there was immediate price action in Ethereum as the token was hovering around $1,600 levels, seesawing between red and green.

A consortium of leading Wall Street broker-dealers, global market makers, and venture capital firms have announced the launch of a first-of-its-kind crypto exchange called EDX Markets (EDXM) that will be operated like a traditional stock exchange. 

Meltem Demirors, the chief strategy officer at publicly traded digital asset manager CoinShares, has called for the cryptocurrency industry to put its house in order and embrace regulations. 

The world’s largest digital currency by market capitalisation, bitcoin (BTC), has zoomed past the $22,000 mark, a staggering gain of nearly 15 percent in a week, even as the crypto community awaits Ethereum’s move to proof of stake (PoS) consensus and inflation data in the United States.