News

In a recent report, the Indian government is slowly changing its stance on the cryptocurrency space. According to the report, Indian lawmakers are thinking of imposing taxes on all cryptocurrency-related activities. Consequently, the taxation is going to affect all crypto exchanges and trades in the country.  Moreover, the report shows how the decision focuses on the idea that crypto-based ventures are profitable. Thus, in line with this statement, the government of India intends to impose taxes on crypto-related activities. And only because they…

On September 13, 2021, MicroStrategy CEO Michael Saylor announced the financial entity had added 5,050 bitcoin to its total crypto holdings. This latest bitcoin bump cost the firm $242.9 million. This indicates that it bought BTC before the price crash on September 7. According to a statement today, the firm is now in possession of 114,042 BTC. Michael Saylor tweeted that the company bought the coins at an average of $48,099 per bitcoin. He noted that they #hodl ~114,042 bitcoins acquired for almost $3.17 billion…

On September 12, industrial outlet DeFiPrime revealed Zabu Finance faced a hack. The hacker successfully stole 4.5 billion tokens from a Zabu Farm Contract amounting to $3.2 million. The transfer of such a large number of tokens eventually caused the price of Zabu tokens down to $0. Zabu Token has also gone ahead to confirm the hack on Twitter. Moreover, the platform asked for help from other known decentralized exchanges hosted on Avalanche, such as Pangolin and Trader Joe. How…

Digital assets came with several different methods of completing transactions. In some digital coins, users only need to stake a digital asset. Staking a higher amount gives users the highest chance of becoming validators. Other assets, such as Bitcoin, use the PoW method to handle transactions. Bitcoin's operations usually need a source of energy. Without electricity, miners cannot complete transaction processes. Blockchains also need to keep running since it is the network's main driver. As such, we take a look at…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,066 trillion. Bitcoin is down by nearly 9% despite becoming legal tender in El Salvador. Ethereum lost 13% in value over the week. XRP is down by roughly 14% in comparison with last Sunday. Most altcoins, except Solana, have traded in the red for most of the week. The DeFi sector lost almost $10…

The security situation within the DeFi sector has been one of the top issues for users. Many new projects and inventions make attempts to address it a priority. These projects make several attempts to provide some slight assurance of user safety to users as a result. Among the key lines of thought is improving project anonymity. Using items like crypto tumblers may enhance the ability of masking. Another angle of improving user safety is targeting malware that carries out phishing…

The U.K.'s Post Office is offering a route for customers to purchase volatile cryptocurrencies. Soon users can buy crypto through its identity-verification service, EasyID. Through the verification app, customers of the EasyID app can purchase crypto vouchers from the decentralized exchange (DEX) Swarm Markets. Users verifying their identity through the app receive access Swarm's official website. Additionally, they can acquire cryptocurrency vouchers using their phones. Users can redeem vouchers for cryptos like Bitcoin and Ethereum on the Swarm platform. EasyID…

Recently, Mastercard closed a deal to acquire crypto intelligence startup CipherTrace. The platform plans to focus on detecting fraud, driving innovation, and expanding its crypto strategy. The acquisition will go through by the end of the year, but they are yet to disclose any terms. Meanwhile, its shares were up 0.6% after the announcement. Mastercard Can Benefit from Cipher's Data Analytics Launched in 2015, CipherTrace has its headquarters in Silicon Valley. It gathers information for more than 900 cryptocurrencies. This…

Ethereum-compatible smart contract platform Moonbeam has just announced a collaboration with Lido. Lido is a decentralized autonomous organization (DAO) that develops and maintains decentralized liquid staking protocols. Moonbeam will provide the parachain infrastructure and cross-chain interoperability to Lido for its expansion to Polkadot. Furthermore, the platform's Ethereum-compatible smart contract functionality will allow Lido to use familiar Ethereum tools to get to market quickly. The collaboration will bring liquid staking to Polkadot and Kusama. Moreover, the integration between the two introduces liquid staking to Moonriver and Moonbeam. Moonriver is a…