Tech

Michael Saylor – Executive Chairman of MicroStrategy – is being sued by the city of DC for tax fraud. Attorney General Karl Racine alleged that the billionaire hasn’t paid his income tax in the capital city for over a decade. Tax Fraud by Michael Saylor? As confirmed in a tweet from the AG on Wednesday, Saylor allegedly evaded DC’s tax laws by misrepresenting his place of residence.  It’s the first lawsuit brought under the city’s recently amended False Claims Act…

Coinbase – the largest cryptocurrency exchange in the United States – plans to make trading fee revenue less central to its business.  Instead, company CEO Brian Armstrong said he’d like to see over 50% of its revenue generated from subscriptions and services.  Coinbase’s Long-Term Plans In an interview with CNBC, Armstrong said that subscriptions and services account for 18% of Coinbase’s current revenue. He predicts that share will grow over many years, making the exchange’s performance more predictable in the…

Harsh economic restrictions in Argentina have pushed the country’s football clubs towards cryptocurrencies. Recently, the first transfer of a football player via crypto instead of fiat occurred, marking a new era in football finances. Earlier this month, Sao Paulo Futebol Clube from Brazil paid $6-$8 million worth of USDC to Banfield’s Athletic Club for midfielder Giuliano Galoppo. The oscillating gap reflects the tempestuous value fluctuations between the US Dollar and the Argentinean Peso. The First Football Cryptocurrency Signing Galoppo's transfer…

MailChimp CEO Ben Chestnut has announced that he’s stepping down from his executive role to be replaced by Rania Succar. Interestingly, his resignation is occurring shortly after multiple crypto companies have reported being ejected from the platform.  In a tweet on Tuesday, Decrypt editor-in-chief Daniel Roberts said Mailchimp deactivated the firm's newsletter account “without warning or explanation.” Decrypt is a cryptocurrency news publication founded by the blockchain software technology company, Consensys. Messari – a crypto markets intelligence provider – has…

Trung Nguyen, the CEO, and co-founder of Axie Infinity is facing allegations of insider trading after recent data shows he transferred $3 million worth of tokens shortly before disclosing the March hack. At the time, the attack saw the P2E blockchain game lose $622 million worth of assets. Sky Mavis, the game studio behind Axie Infinity, debunks the accusations, claiming the founders transferred the assets to create more flexibility in response to the Ethereum sidechain attack. Moreover, Nguyen says the…

The Hong Kong University of Science and Technology (HKUST) announced it will host a virtual reality class connecting with its upcoming Guangzhou campus in the Metaverse on September 1. The event is the first step in HKUST’s mission to build a virtual campus in the virtual universe, MetaHKUST. According to South China Morning Post, the launch will feature a mixed reality experience, allowing users to attend it both physically and in the virtual world. Pan Hui, chair professor of computational…

Holdnaut – a Singapore-based yield generation platform – is the latest crypto company to indefinitely freeze user deposits and withdrawals.  Hodlnaut in Trouble In an announcement on Monday, the firm stated that recent market conditions have forced its hand in order to stabilize its liquidity. The pathway to eventually resuming user withdrawals, it claims,  “will not be a short process.” “We would like to reassure you that this difficult decision was taken for us to focus on stabilizing our liquidity…

The Slope Wallet team has promised a 10% bounty to the anonymous hacker who compromised several thousand Slope users’ wallets earlier this week. In return, Slope would like the hacker to return the other 90% of the stolen goods.  A Promise of Safety In a statement on Friday, Slope called on the hackers to examine its bounty offer for the safe return of user funds. It offered a Solana address to which to send those funds, which is yet to…

Binance has joined forces with payments network MasterCard to bring prepaid cards to Argentinian customers. Binance believes its new crypto card couldn’t have come at a better time in a country struggling with rising inflation. The major exchange shared the news on Thursday alongside other details of the forthcoming release.  The New Binance Card According to the Binance publication, the joint rollout will be called the Binance Card. New and existing Binance customers in Argentina will access it provided they…