The Legislative Assembly of El Salvador has passed a bill to create a $150 million dollar Bitcoin Trust to support the development of crypto infrastructure and services across the country. 64 out of 78 officials voted in favor of the bill passed on Aug. 31. The Trust aims to ease
The Financial Administration of the Republic of Slovenia (FURS) is looking to impose a 10% taxable income bill on cryptocurrency transactions. Under the current legislation, authorities can analyze the digital asset activity of individuals on a case-by-case basis by going through their transactions. The introduction of the tax initiative focuses
Altcoin investment products have continued to see an increase in institutional inflows over the past week, while the reverse is the case for Bitcoin. Institutional asset manager CoinShare disclosed overall inflows of $24 million to altcoin-based investment products in its Digital Asset Fund Flows Weekly report on Aug. 30. This
On August 30, cross-chain asset management platform and DEX aggregator, DeFiYield, unveiled a database of DeFi scams, hacks, and exploits. About $1.7 billion has been lost to DeFi scams in the past five years. DeFiYield’s latest offering collated a database of rug pulls, vulnerabilities, hacks, dubious projects, and
The Central Bank of Nigeria (CBN) says it has engaged global fintech company Bitt Inc, as the technical partner for its digital currency, eNaira. Nigeria’s premier bank made the announcement on Monday, saying it chose Bitt Inc because of its “technological competence, efficiency, platform security, interoperability, and implementation experience.
According to Glassnode’s weekly report, hodl patterns appear bullish as a result of a structural downtrend in the sales of younger coins. The analytics firm suggested that the pattern indicates more holding and dormancy. It also noted that coin maturity and the dynamics of supply have provided a fairly
One of the earliest blockchain firms Blockchain.com (formerly Blockchain.info), announced on Monday that it had processed $1 trillion in crypto transactions as it approaches its first decade in the market. The CFO of the company Macrina Kgil shared the news on her institutional blog, noting that the said
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AI has become the keyword in the future of technology. Computing power has been described as the "engine" that underpins the development of AI, with the most advanced AI models doubling in computational volume every three to four months, according to AI research organization OpenAI. How do we
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Bunicron Finance is all set to release its much-anticipated game this month that incorporates the crypto world of DeFi and NFT to present a one of a kind experience. Earn While You Protect Buniland The fictional universe of Bunicorn currently consists of the planet where the creatures of the same
Annoyance and fear have trailed El Salvador’s upcoming Bitcoin Law as some citizens take to the street to protest against the decision. The law is slated to fully take effect from September 7. Consequently, all economic agents in the country are expected to accept Bitcoin along with the dollar
Brazilian authorities have arrested five individuals and confiscated nearly $29 million worth of cryptos in a sting operation. The special mission, dubbed “Operation Kryptos” exposed a local financial pyramid scheme, with $28.7 million in cryptos being seized during the operation. The said amount has set a new record as
Billionaire portfolio manager John Paulson has openly criticized the volatile nature of cryptocurrencies. He advised interested investors to opt for traditional investment assets like gold instead. When asked about his views on the emerging cryptocurrency market in an interview with Bloomberg, Paulson claimed that the assets have a “limited supply
Hong Kong-based crypto exchange Bilaxy has lost over $21 million after hackers hijacked a hot wallet on its platform on Sunday, Aug. 29. ⚠️⚠️Top Urgent-Bilaxy Hacked Notice Pls note Bilaxy Hot wallet was hacked, ❌pls DON't send any funds to your bilaxy accounts again. We are racing with
The Central Bank of Nigeria (CBN) has issued preliminary guidelines for its proposed e-naira digital currency to Nigerian banks. Several design features of the central bank digital currency (CBDC) were outlined by the CBN in a sensitization document sent to all commercial banks operating in the country. According to the
DeFi lending protocol Cream Finance has reportedly lost $25 million in a flash loan attack, the second in the past six months. The decentralized finance (DeFi) lending and borrowing platform reported that its CREAM V1 market had been targeted on Monday. C.R.E.A.M. v1 market on Ethereum
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Five-star Chedi Andermatt hotel is set to become the first Swiss hotel to accept payments in cryptocurrencies. The 123-room hotel located in the Swiss Alps has joined the growing list of companies that accept crypto payments. Guests of the establishment can now use Bitcoin or Ether to settle accommodation bills