Category Archives: Cryptocurrency News

Japanese SBI buys a direct competitor of its cryptocurrency division

One of the four Japanese financial giants, the SBI Group will acquire a majority stake in the cryptocurrency trading platform BITPoint Japan. The cryptocurrency exchange has long been a competitor of the giant’s cryptocurrency division – SBI VC Trade. SBI buys 51% stake in BITpoint from Remixpoint for a total of $98.6M. BITPoint is now valued at over $193M. As a result of the transaction, SBI will receive 5% of Remixpoint shares. At the same…

Liquidators demand from the creators of the MTI cryptocurrency pyramid to pay $291 million

The liquidators of the largest South African crypto-currency scheme Mirror Trading International demand that its organizers pay $291 million to investors. The liquidators sent a summons to appear in court to eighteen citizens behind the now defunct Mirror Trading International (MTI) project. The offenders are required to pay $291 million to cover the losses of defrauded investors. The decision to take the alleged organizers of MTI to court comes just months after liquidators failed to…

Chainalysis: DeFi services are becoming more popular with cybercriminals

Analysts at Chainalysis claim that illegal activity in DeFi protocols has grown exponentially compared to last year. Chainalysis has published a new report on criminal activity in Web3. According to the study, the overall level of illegal activity in the crypto industry has decreased, but it has sharply increased in decentralized finance (DeFi) protocols. Analysts claim that 97% of the $1.7 billion worth of cryptocurrencies stolen in 2022 came from DeFi protocols. Experts received these…

The Fed once again warned about the risks of stablecoins

The US Federal Reserve (Fed) has published its semi-annual financial stability report, which once again highlighted the risks of using stable cryptocurrencies. The report notes that financial markets, including cryptocurrencies, have been significantly impacted by events in Ukraine, the spread of the Omicron coronavirus strain, and “significant and prolonged inflation.” At the same time, the total capitalization of stablecoins reaches $180 billion, of which 80% falls on the three largest ones – USDT, USDC and…

The German Ministry of Finance issued a guide to paying tax on cryptocurrencies

The German Federal Ministry of Finance (BMF) has explained that owners of digital assets will be able to sell crypto assets without paying taxes after one year of ownership. The BMF has released the country’s first guidance for paying income tax on digital currencies and other blockchain-based tokens. The document classifies and explains the technically different aspects of the issue from the point of view of German law. The sale of purchased cryptocurrencies, such as…

De Beers introduced the first blockchain-based diamond mining platform

The De Beers Group announced the launch of the Tracr blockchain platform to scale control over diamond mining and track the chain of movement of precious stones from mines to buyers. The Tracr system will be the first distributed network in the history of the diamond industry to capture and secure the origin of gemstones. According to the developers, this will allow companies that are part of a limited circle of De Beers distributors to…

NiceHash: We have fully unlocked Nvidia GPUs for Ethereum mining

Computing marketplace NiceHash announced the release of an update for Nvidia LHR RTX GPUs. NiceHash announced the release of an update to the NiceHash QuickMiner ether mining software that 100% unlocks the hashrate of Nvidia LHR RTX video cards. At the height of mining and the acute shortage of silicon chips in 2021, Nvidia installed a software “ether hash rate limiter” for flagship models and equipped the entire line of Nvidia’s latest generation RTX 3000…

Dubai Cryptocurrency Regulator set up an office in the metaverse

The Dubai Virtual Assets Regulatory Authority (VARA), amid the popularity of the presence of large corporations in the metaverse, has opened a representative office in the virtual world of The Sandbox. VARA representatives explained that the headquarters in the virtual space will allow to offer services and provide a platform for interaction between market participants, from virtual asset service providers (VASPs) to influential industry representatives and regulators from around the world. With its office in…

Google Cloud Forms Web3 Development Team

Following the creation of a blockchain team, Google is forming a Web3 development team to provide companies with the tools to interact with new technologies. According to CNBC, Google Cloud VP Amit Zavery sent a letter to his team declaring his intention to make Google Cloud Platform the best choice for Web3 developers. Google Cloud is a set of various cloud services that are associated with all the company’s projects. Although the Web3 market is…

Luna Foundation bought bitcoins worth $1.5 billion

The non-profit organization Luna Foundation, associated with the cryptocurrency project Terra Luna, continues to purchase bitcoins. Yesterday, May 5, 37,863 BTC were purchased to secure the UST stablecoin. As part of another Bitcoin purchase, the Luna Foundation acquired $1 billion worth of BTC through over-the-counter transactions through Genesis Trading, according to CNBC. For this, she used UST stablecoins. Another $500 million worth of bitcoin was purchased from the investment firm Three Arrows Capital. The Luna…