Tether, the operator of the world’s largest stablecoin, has recently minted another billion USDT. This transaction, however, is authorized but not yet issued. Tether CEO Paolo Ardoino clarified that this amount will be used as inventory for future issuance requests and chain swaps on the Ethereum blockchain.It’s important to note that these newly minted tokens […]
In 2023, the world of nonfungible tokens (NFTs) experienced significant developments and challenges. Despite criticism, NFTs remained a vibrant part of the market, with sales reaching over $1.5 billion in the last 30 days alone. Community members actively sought solutions to address the issues faced by traditional NFTs.One notable development was the introduction of Bitcoin […]
In a recent development, Stoner Cats 2 (SC2), the creators of the popular Stoner Cats animated series, have been charged by the Securities and Exchange Commission (SEC) for conducting an unregistered offering of crypto asset securities. This comes as a blow to the NFT industry, which has been gaining momentum in recent years.Stoner Cats, spearheaded […]
After a decade of insolvency, Mt. Gox cryptocurrency exchange creditors are finally receiving payments for their claims. Recent speculation on the mtgoxinsolvency Reddit page suggests that users affected by the infamous Mt. Gox hack in 2014 may be receiving Japanese yen-denominated repayments through PayPal. While these reports remain unconfirmed, several Reddit users claim to have […]
The legal battle between Ripple Labs, Inc. and the U.S. Securities and Exchange Commission (SEC) has attracted significant attention in the crypto community. Attorney John Deaton, founder of Crypto Law, recently shared his perspective on the possibility of a settlement in this ongoing dispute. Deaton believes that a settlement is unlikely due to the SEC’s […]
Judge Lewis Kaplan has rejected a request from SBF lawyers to delay the sentencing hearing for former FTX CEO, Sam Bankman-Fried. The request, made on December 20th, sought to adjourn the hearing by four to six weeks. If granted, this would have pushed back the presentencing interview and the sentencing hearing, both of which were […]
The Legislative Assembly of El Salvador has passed a migration law that allows foreigners to obtain expedited citizenship by making Bitcoin donations to government programs. The law, which emphasizes support for the country’s development initiatives, is expected to take effect soon.The reform, supported by the New Ideas party led by Nayib Bukele, was approved on […]
After three years of legal battles, the Ripple vs SEC lawsuit is entering its next phase in 2024. The focus now shifts to the remedies stage, with several key dates to mark in the calendar.On February 12, 2024, the remedies-related discovery phase will conclude, marking the end of the fact-finding process. This sets the stage […]
Japan’s Cabinet has approved a proposal to eliminate corporate tax on unrealized cryptocurrency gains, potentially revolutionizing the crypto landscape in the country. If this proposal becomes law, it would mean that companies would no longer have to pay taxes on the difference between the market and book values of their crypto assets. This move is […]
The UBS, a Swiss bank, is set to make significant job cuts and early retirements starting from January. This development has raised concerns in the financial sector as the year comes to an end. According to a recent report by the Financial Times (FT), global banks have already eliminated over 60,000 jobs in recent months.Interestingly, […]
