Category: crypto

Binance is disappointed by a Nigerian court’s denial of bail for executive Tigran Gambaryan, citing procedural issues and his ongoing appeal. Gambaryan, detained since February on money laundering charges, has faced serious health issues, prompting concerns from his family and the company, which seeks his release and proper medical care.

Bitcoin is nearing its longest sideways trading period during a halving year, potentially lasting up to 236 days. Historically, Bitcoin reached significant highs post-halving, but this year it peaked early at $73,737.94. Analysts suggest the re-accumulation phase is the longest since 2016, with predictions of continued sideways movement.

The People’s Bank of China reported 180 million digital yuan wallets opened by July 31, facilitating over 7.3 trillion yuan in transactions. The digital yuan, operating on a two-tier system, aims to enhance financial inclusion and international competitiveness, with ongoing cross-border collaborations to improve global payment efficiency.

Fitness coach Josh Jarrett is suing the IRS for its tax policy on staking rewards, arguing they should be taxed as property rather than income. Supported by Coin Center, he claims this stance complicates taxation and stifles innovation in cryptocurrency, advocating that taxes should apply only upon sale of the tokens.

Former President Donald Trump’s World Liberty Financial (WLF) DeFi project could generate over $100 million for Aave DAO if its proposal for an Aave V3 instance is approved. WLF aims to enhance liquidity and user base, potentially doubling Aave’s treasury and sharing 20% of fees and governance tokens.

Japanese investment firm Metaplanet has boosted its Bitcoin holdings to 748.502 BTC after acquiring 108.999 BTC for ¥1 billion. Despite a slight loss per Bitcoin, the firm’s stock has surged 500% this year. Metaplanet aims to acquire at least 1,000 BTC, potentially surpassing Hong Kong’s Meitu Inc. as Asia’s largest holder.

A phishing scam targeted a crypto whale, draining 15,079 fwDETH worth $36 million, possibly linked to Continue Capital. The attack, attributed to the Angel Drainer group, caused DETH’s value to plummet by 85%. Duo Exchange confirmed the incident but reassured users about its security protocols.

South Korea’s Financial Services Commission has established a Virtual Asset Committee to oversee the approval of spot crypto ETFs and address digital asset issues. Additionally, a user protection foundation was created for recovering assets. The committee aims to enhance regulatory frameworks, investigate trading vulnerabilities, and reduce the “Kimchi premium” in crypto pricing.

Charles Hoskinson, CEO of Input Output, attributes recent criticism of Cardano to its new governance framework, Voltaire, which enables decentralized community concerns. He argues the negativity reflects transparency and empowerment, not failure. Voltaire aims to cultivate growth, allowing ADA holders to influence development and address long-standing issues collectively.

Telegram’s Wallet app now enables law enforcement to collect evidence, as stated in its updated FAQ. Requests must be verified. While the app is not directly operated by Telegram, it is undergoing regulatory changes in the UK. Additionally, Telegram is enhancing privacy policies and moderation tools in response to legal challenges.