[ad_1] Prices for major cryptocurrencies, as well as shares of Coinbase Global (NASDAQ:COIN) and MicroStrategy (NASDAQ:MSTR), slumped on Friday as the collapsed crypto exchange Mt. Gox began paying back creditors. Nobuaki Kobayashi, the trustee for the Mt. Gox bankruptcy estate, announced that the estate has “made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges etc. in accordance with the Rehabilitation Plan.” He noted that other creditors would be “promptly” repaid once certain conditions were met, ensuring that payments could be made “safely and securely.” Bitcoin and Ether Prices…
Author: dfrancis36
[ad_1] IntroductionAs it moves into the active appeal stage at the Tenth Circuit, the ongoing legal battle between Custodia Bank and the Federal Reserve has garnered significant attention, especially given the involvement of various amicus briefs. A total of seven briefs were filed on July 3rd, the last day for supporting, or neutral, briefs to be filed.1 This case has attracted significant interest from top-flight appellate attorneys, drawing three former Solicitors General, two representing amici and Ian Gershengorn who represents Custodia itself.In Federal appellate practice, an amicus curiae (“friend of the court”) brief allows non-parties to provide the court with…
[ad_1] On-chain data shows that Shiba Inu (SHIB) has witnessed a massive decline in whale activity. This is significant for the meme coin’s ecosystem, considering the impact these investors usually have on Shiba Inu’s price. Shiba Inu’s Whale Activity Declines By Over 100% Data from the market intelligence platform IntoTheBlock shows that Shiba Inu’s whale activity has declined by over 100% in the last seven days. This is based on the large holders’ netflow metric, which indicates when these whales are adding to their positions or offloading their tokens. Related Reading Source: IntoTheBlock The 100% decline in large holders’ netflow…
[ad_1] Multicoin Capital, a leading U.S. investment firm focused on cryptocurrency, has announced a pledge of up to $1 million to support Senate candidates with favorable views on the crypto industry. The firm plans to back four Republican candidates—Sam Brown in Nevada, David McCormick in Pennsylvania, Bernie Moreno in Ohio, and Tim Sheehy in Montana—through donations to the conservative super political action committee Sentinel Action Fund. Matching Crypto Donations Multicoin’s support will depend on the outcome of Sentinel’s crypto donation drive. According to Sentinel’s website, Multicoin will match 100% of Solana (SOL) token donations sent to the PAC by July…
[ad_1] On-chain data shows the Bitcoin diamond hands holding since more than five years ago have continued to be stalwart despite the latest crash. Over 30% Of The Entire Bitcoin Supply Hasn’t Moved In 5 Years Or More In a new post on X, the market intelligence platform IntoTheBlock talked about what the percentage of the total circulating Bitcoin supply held by the investors who bought more than five years ago looked like recently. Statistically, the longer a holder keeps their coins (or, to be more precise, UTXOs) dormant, the less likely they become to transfer or sell them on…
[ad_1] Leading smart contract platform Ethereum (ETH) generates far more revenue from fees per year than any other blockchain. New data from crypto tracker Lookonchain reveals that the top altcoin earns $2.728 billion in fees per year, or more than twice its closest rival, Tron (TRX), which earns $459.39 million annually. Ethereum also earned just over twice that of Bitcoin (BTC), the top crypto asset by market cap, which came in at $1.3 billion during the same time frame. Source: Lookonchain/X Other top fee-generating chains analyzed by Lookonchain include smart contract platform Solana (SOL) with $241.29 million in revenue per…
[ad_1] In a tumultuous day for cryptocurrencies, the price of XRP plummeted to a low of $0.38249 on Bitstamp, reflecting a broader downtrend affecting the altcoin market. With a notable 12.4% decrease in the last 24 hours, XRP is facing crucial support. Despite this substantial decline, Dark Defender (@DefendDark), a noted crypto analyst on X, continues to uphold a bullish outlook on XRP’s future prospects. XRP Price Needs To Hold $0.39 In his analysis of the 1-month XRP/USD chart, Dark Defender notes specific key levels and indicators. He points out that “XRP hit our last support level of $0.3917 after…
[ad_1] The value of cryptocurrency stolen in hacks worldwide more than doubled in the first six months of 2024 compared to the same period last year, driven by a few large-scale attacks and increasing crypto prices, according to blockchain researchers at TRM Labs. Surge in Crypto Theft Hackers stole over $1.38 billion worth of cryptocurrency by June 24, 2024, compared to $657 million in the first half of 2023, TRM Labs reported. The median theft size was one-and-a-half times larger than the previous year. Ari Redbord, global head of policy at TRM Labs, noted, “While we have not seen any…
[ad_1] Russia’s pivot towards stablecoins comes against the backdrop of its chairmanship of the BRICS group (Brazil, Russia, India, China, and South Africa). The BRICS nations have previously discussed the creation of a digital currency-based payment system, the BRICS Bridge, to reduce reliance on the US dollar-dominated global financial system. However, sanctions imposed on Russia have thrown a wrench into these plans. A Russian central bank official admitted that the current geopolitical climate makes collaboration on the BRICS Bridge extremely challenging. Ditching The Dollar? Ruble Wobbles As Russia Eyes Stablecoins Traditionally, Russia has maintained a cautious stance towards cryptocurrencies. However,…
[ad_1] New Zealand’s tax authorities announced that over 200,000 citizens had not declared their crypto income in their tax returns. The watchdog issued a reminder that virtual assets are taxable and revealed it will take stronger measures to track those not disclosing their earnings in digital assets. IRD Issues Letter To Crypto Taxpayers The Inland Revenue Department (IRD) declared it is honing in on taxpayers who have not declared their crypto earnings. The tax authority will focus on those actively dealing with cryptocurrencies but have not disclosed their income on their tax returns. In 2020, New Zealand updated its guidelines…