NewsRoom Articles - Page 51 of 196

MondayJan 29, 2024 9:00 am

Despite Trading Ban, Underground Cryptocurrency Market Thrives in China

Despite the prohibition of cryptocurrency trading in 2021 by the Chinese government, reports indicate an active black market in the country. According to a Wall Street Journal (WSJ) article, investors are navigating the stringent regulations through informal networks, utilizing social media, VPNs and in-person trading. China is a region that has some of the strictest regulations in the world regarding cryptocurrency trading, with authorities vigorously pursuing those involved in the sector. Perpetrators face the threat of arrest, penalties or jail time. But according to the WSJ, some Chinese dealers have not been deterred by these actions. Additionally, Ben Gagnon, chief…

FridayJan 26, 2024 10:30 am

Crypto’s Presence at Davos Shows Industry Is Regaining Shine

The crypto sector is reviving in the Swiss Alps, but its presence at the World Economic Forum (WEF) this year is more muted than it was in the heyday of crypto fever after a series of substantial declines in pricing and the turbulent demise of the crypto exchange, FTX, in November 2022. Notwithstanding these obstacles, influential figures in the cryptocurrency space flocked to Davos recently, spurred on by a recent victory. The U.S. Securities and Exchange Commission (SEC) approved the trading of Bitcoin-backed investment funds a few days prior to the event. The approval marked a substantial victory for the…

WednesdayJan 24, 2024 10:30 am

New X Payment Account Spurs Speculation in Crypto Community

X (formerly known as Twitter) has recently established a dedicated account signaling the imminent integration of a payment feature, sparking curiosity within the cryptocurrency community regarding the potential inclusion of digital assets. There is widespread speculation that X’s upcoming application update, expected by mid-2024, will introduce in-app payment services. However, the details about whether this feature will support transactions beyond conventional fiat currencies remain unconfirmed. While the newly created account has yet to share any posts, its verification status, indicated by the gold badge, confirms its legitimacy as an official organizational account. Furthermore, the presence of the distinctive X badge…

MondayJan 22, 2024 10:30 am

Ripple Puts Hold on IPO Plans, Citing SEC Hostility

Ripple is temporarily shelving its plans for an initial public offering (IPO) in the United States, according to CEO Brad Garlinghouse. The decision, he noted, stems from the challenges posed by a perceived unfriendly regulatory environment, particularly with the U.S. Securities and Exchange Commission (SEC). Back in 2022, Garlinghouse expressed his anticipation that Ripple would explore the possibility of a public listing once the legal dispute with the SEC, initiated in 2020, reached a resolution. The lawsuit remains an ongoing matter. Speaking at a recent global economic forum in Switzerland, Garlinghouse stated that Ripple is actively seeking jurisdictions with transparent…

FridayJan 19, 2024 10:30 am

Bitcoin ETFs in the US See $4B-Plus in Inflows as Trading Starts

Bitcoin ETFs listed on U.S. exchanges witnessed a trading volume of more than $4.5 billion on Jan. 10, 2024, a day after the U.S. Securities and Exchange Commission (SEC) approved several Bitcoin spot ETFs, according to data from LSEG. The new products signify a crucial moment for the crypto industry, challenging the prevailing perception of digital assets as risky and exploring their potential as mainstream investments. The long-awaited approval from the SEC arrived last week, concluding a long battle with the crypto sector. The commission had consistently rejected all Bitcoin spot ETFs on claims of investor safety. SEC chair Gary…

WednesdayJan 17, 2024 11:15 am

Planned Ripple Share Buyback to Push Company’s Valuation to $11B

Crypto company Ripple Labs has initiated a substantial share repurchase, amounting to $285 million, from early employees and investors, according to reliable sources acquainted with the situation. The financial maneuver, commonly referred to as a tender offer, has placed Ripple’s overall valuation at an impressive $11.4 billion. The privately held entity confirmed that it will set aside $500 million for the all-inclusive buyback, which will include changing restricted stock into shares in addition to paying related taxes. Investors are limited to selling only 6% of their stake in this process. Brad Garlinghouse, Ripple’s CEO, stated that the company intends to…

FridayJan 12, 2024 10:30 am

Crypto Investors Await SEC Decision on Bitcoin ETFs

The U.S. Securities and Exchange Commission (SEC) is on the verge of making a crucial decision that could greenlight the trading of a Bitcoin spot exchange-traded fund (ETF). Thirteen companies, including Grayscale Investments, BlackRock, Ark/21Shares, Bitwise, Hashdesk, Franklin Templeton, Fidelity and others, have submitted applications for a Bitcoin spot ETF, signaling a collective anticipation within the crypto investment community. The applications are made up of two main parts. First, an exchange such as NASDAQ or NYSE must file Form 19b-4, which notifies the commission of a proposed regulation change and the rules governing the trading of the new product. The…

ThursdayJan 11, 2024 11:15 am

Unlocking the Future: MGS 24 Las Vegas Summit Unveils the Convergence of Mobile and Web3 Technologies

Industry experts, entrepreneurs, investors, and innovators from all areas of the mobile industry are invited to attend the MGS 24 Las Vegas being held on February 15-16, 2023, in Las Vegas. This transformative event offers the perfect blend of advanced mobile and Web3 growth technology. With a special focus on blockchain and artificial intelligence (“AI”), the summit will bring together visionaries and thought leaders to share insightful ideas about the future of the mobile industry. MGS 24 is designed to promote unmatched innovation at the intersection of mobile and web3 technologies. The summit will serve as a catalyst for exploring…

ThursdayJan 11, 2024 9:00 am

Blockchain Life 2024 in Dubai – Waiting for ToTheMoon

On April 15-16, the international forum Blockchain Life 2024 will bring together more than 8,000 crypto leaders and thousands of international companies at the main event of the year in Dubai. See the Official Trailer 2024: https://youtu.be/jSn8TWHV9Lg Buy a ticket: https://ibn.fm/Hr1xo What to expect: Premium community of crypto whales and industry leaders More than 160 experts having a speech and analyzing the market from the 2 stages More than 150 key industry companies featured at the exhibition and promising Startups Dozens of teams at the Startup Pitch contest – traditionally many of these projects will rise in a few months…

WednesdayJan 10, 2024 10:30 am

New U.S. Law on Crypto Tax Reporting Comes into Force

A new tax legislation, the Infrastructure Investment & Jobs Act, ratified in late 2021, now requires individuals or businesses obtaining at least $10,000 in crypto during their commercial activities to submit a report to the Internal Revenue Service (IRS), according to insights from Coin Center, a nonprofit organization dedicated to exploring and advocating public policy aspects of cryptocurrency. Jerry Brito, the executive director of Coin Center, elucidated in a recent blog post that the report should contain essential details such as the person's name, address, social security number, received amount and specifics about the transaction's date as well as its…