Category Archives: Cryptocurrency News

Ripple and the State of Palau team up to create a national stablecoin

The island nation of Palau and the cryptocurrency company Ripple Labs announced the start of a joint project to create a state digital stable currency. Palau President Surangel S. Whipps said in an interview with Bloomberg that a joint IT team from the island nation and Ripple Labs are working to explore opportunities to create a “national stablecoin.” Discussing digital asset strategy, the president of the archipelago of more than 500 islands, explained that such…

Polygon officially launched the second testnet with zkEVM support

The developers of the second layer solution Polygon announced the launch of the second test network with support for zkEVM technology. The next step should be to launch the main network of the project with zkEVM support. The zkEVM technology is designed to allow a significant increase in Ethereum throughput and, according to the developers, thanks to the Recursion update, the scaling “will be exponential”. The technology is based on zero-knowledge proofs and has become…

Mining company Core Scientific files for creditor protection in court

One of the largest publicly traded cryptocurrency mining companies in the US, Core Scientific, plans to file for creditor protection in Texas bankruptcy court. According to CNBC, Core Scientific is unable to pay off debt for rented mining equipment despite generating positive cash flow. Because the funds at the disposal of Core Scientific are not enough to service the growing debt, the company plans to file for protection from creditors in the bankruptcy court of…

Celsius Network assets auction to take place in January

Lending platform Celsius informed potential buyers that the deadline for submitting bids for participation in the auction has come to an end and the sale of assets is scheduled for January 2023. The Bankruptcy Court for the Southern District of New York has set an auction for the sale of Celsius assets on January 10. The company said it has already received more than 30 offers with various options for acquiring its assets or business…

Binance US to Buy Voyager Assets for $1B

Cryptocurrency exchange Binance US has offered the best conditions for the buyback of Voyager Digital assets – the transaction should be closed by April 18, 2023. The US subsidiary of the Binance cryptocurrency exchange has won a tender to acquire the assets of a bankrupt crypto lender worth more than $1 billion. Voyager said that Binance US’s offer has been the best so far. A buyback date has not yet been set, but Binance decided…

US court dismisses Coinbase in Dogecoin lottery case

Representatives of the Coinbase crypto exchange, referring to the user agreement, demanded that the dispute in the lottery case with Dogecoin be considered in private arbitration, and not in general court order. But the US court refused the trading platform. Former clients filed a lawsuit against the American crypto exchange. Users claim to have been scammed into paying $100 or more to enter the Coinbase Dogecoin contest. Last June, the platform was raffling off $1.2…

Japan intends to reduce the tax burden for crypto firms

The Japanese government intends to ease the tax burden on local crypto firms and exclude paper profits from the tax base. In the middle of this year, the Japan Crypto Asset Business Association (JCBA) and the Japan Virtual and Crypto Asset Exchange Association (JVCEA) petitioned the Financial Services Agency (FSA) to reduce the tax burden of local cryptocurrency companies. The initiative group has asked the regulator to exclude taxation of paper profits from cryptocurrency assets…