Blockchain Financial News

Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApp) built on the Near protocol, has launched a token fund worth $90 million. 

There has been a spate of “crypto muggings” in London recently, with thieves threatening crypto holders with violence unless they transfer over their digital currencies held in mobile phone wallets or on crypto exchanges.

XP informed Cointelegraph that XTAGE will launch in Q2 2022 and will be fully integrated into the XP Inc ecosystem — the largest investment brokerage in Brazil with more than 3.5 million clients and $168 billion assets under custody.

The Federal Ministry of Finance (BaFin) published a 24-page document on Tuesday outlining clear income tax rules for cryptocurrency and virtual assets. Tax practitioners, businesses and individual taxpayers now have clear direction on the tax requirements for acquiring, trading and selling cryptocurrencies.

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Validators for the Terra blockchain have decided to officially halt network activity on Thursday in a move designed to prevent governance attacks following the severe devaluation of the network’s LUNA token. 

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Chainalysis, a blockchain analytics provider, has announced its $170 million Series F funding round. The fresh funding succeeded its $100 million raise back in June 2021 and more than doubly exceeded its valuation of $4.2 billion at the same time.

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Decentralized blockchain technology has been around for a relatively short period of time, in the grand scheme of things, but its decentralized nature has the power to keep data and information out of the hands of censors looking to create a “safe” and “faultless” version of history. 

The crypto winter could be claiming more casualties among the stablecoin camp. The depegging of TerraUSD (UST) on May 10 triggered market selloffs, and now Tether (USDT) appears to be losing its footing. It has slipped against the U.S. dollar.

The queen of pop has collaborated with record-setting artist Beeple to create a series called "Mother of Creation" which includes three nonfungible tokens (NFTs) titled Mother of Technology, Mother of Nature and Mother of Evolution. The NFTs show a 3D likeness of Madonna giving birth to robot centipedes, butterflies and trees. 

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PancakeSwap, the decentralized finance (DeFi) application built on Binance Smart Chain, synonymous with its automated market maker (AMM) service and its quirky branding style, has released a governance proposal for the second iteration of its tokenomics roadmap.

Following recent developments in the sphere of stablecoins, Tether (USDT) has announced that it’s coordinating a chain swap to transfer USDT assets from Tron’s TRC20 to Ethereum and Avalanche’s blockchain. 

Following the Coinbase report where the company declared its losses, a disclosure that suggests that users are not protected in the case of bankruptcy has been gaining traction on social media. However, Coinbase CEO Brian Armstrong explained that funds are safe “as they’ve always been.” 

The Terra rescue story continues to unravel. In a tweet thread, the Terra Money Twitter account went into greater detail regarding the CEO of Terraform Labs, Do Kwon's rescue plan for UST.

The Terra community is almost in disarray as the ecosystem’s two flagship tokens, including LUNA and UST are on a freefall amid the most bearish sentiment the blockchain protocol has ever seen.

Says New York State Department of Financial Services Superintendent Adrienne Harris: "Blockchain analytics tools provide companies with an efficient, data-driven way to conduct customer due diligence, transaction monitoring, and sanctions screening, among other things, which are all critical elements of our virtual currency regulation."We expect regulated entities to utilize best practices to uphold the safety and soundness of the virtual currency market and to protect consumers." Issuing new guidance, the watchdog says New York State-regulated virtual currency companies should establish control measures that may leverage blockchain analytics and that they must have clearly documented policies, processes, and procedures with regard to how these tools are integrated into their control framework.In addition, as part of their customer due diligence responsibilities, firms must obtain and maintain information regarding their customers and potential customers, using this information to understand and effectively address risk.