Cryptocurrencies can lead to “dollarization” of a part of the economy and this could be against the country’s sovereign interest, the top officials of India’s central bank told a parliamentary committee on finance, according to a Press Trust of India report. Author: Amitoj Singh Source link
The Australian Taxation Office (ATO) has outlined crypto capital gains as one of four key areas of focus in 2022. A capital gain or loss refers to the price difference between the time an asset was purchased and the time it was sold. The percentage owed to the ATO varies between income brackets and duration of ownership, but in general, the rate is reduced for assets held longer than 12 months. The ATO, which has fired off many warnings to crypto investors over the past few years, has also directly…
Banking giants Goldman Sachs and Britain’s Barclays have joined a $70 million Series A funding round for the institutional crypto trading platform Elwood Technologies, founded by billionaire British hedge fund manager Alan Howard. Joining the round was crypto-friendly German bank Commerzbank, crypto investment manager Galaxy Digital, and Dawn Capital as reported by the Financial Times on May 15. The fundraising round valued the company at around $500 million according to the report. Despite the recent fall in crypto markets, Elwood said it’s betting that traditional financial institutions such as hedge…
Bitcoin attempted a recovery wave above the $30,000 resistance against the US Dollar. BTC is struggling near $31,000 and might start a fresh decline. Bitcoin recovered above the $30,000 level but struggled above $31,000. The price is now well above the $30,000 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $30,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh decline if it clears the $30,000 support zone Bitcoin Price…
Investors familiar with the concept of equity investing will find equity tokens to be an extension of the same thought process as initial public offerings while those with a riskier appetite can venture into plonking their capital on the utility tokens in which they believe. One glaring difference between utility and equity tokens is the fact that the former is not regulated as they provide access to a service rather than a specific investment in an asset or company as do equity tokens. However, for those asking the question of…
Bitcoin was recently trading above $31,000, up nearly 6% over the past 24 hours and more than 16% from the $26,600 depths it sank to mid-Friday. “Bitcoin did indeed face downward pressure that saw it losing the $30K support, but it did not fall below the 25K level,” Joe DiPasquale, the CEO of crypto fund manager BitBull Capital, wrote to CoinDesk. Author: Sam Reynolds, Damanick Dantes, James Rubin Source link
Terra’s pricey Nationals sponsorship hasn’t made an impact on “Terra Club” workers and fans. Author: Eli Tan Source link
Following the leak of a U.S. Supreme Court draft opinion that would overturn the 1973 landmark Roe v. Wade decision, activists and entrepreneurs are looking for alternatives to help fund an “abortion-focused” DAO. Ultimately, they see this as a way to provide money to women in more than two dozen states where abortion services may be significantly restricted or banned. However, if Roe is overturned, it’s worth noting that abortion would not be “outlawed” – rather, states would be able to individually determine the procedure’s legality. Currently, thirteen states in…
Ripple (XRP) rallied to $0.439217 Friday from $0.377384 on Thursday in the face of an ongoing Securities and Exchange Commission lawsuit following the comments of William Hinman, former SEC Corporate Finance director. Suggested Reading | Crypto Analyst Predicts 1 Altcoin Will Fall Down Hard – Is It Cardano? Ether are not securities, Hinman said. (Bitrates.com) William Hinman: Ether Not a Security A judge has granted the request of SEC to file a reply concerning the case against Ripple Lab. The case was ignited by the speech of Hinman, stating that Ethereum…
Terra’s ship sailed gallantly but has now collapsed following a series of algorithm attacks that made the blockchain network’s native token LUNA plunge to what many see as an irredeemable level. With so many experts wondering what is going on, Binance’s Chief Executive Officer, Changpeng Zhao has come out to clarify the investments the trading platform has in the Terra ecosystem in what appears as a response to false claims going around on Twitter. According to CZ, as he is fondly called, Binance invested $3 million in Terra back in…