Category: Altcoin News

Kenya considers tax on crypto, NFT transfers and online influencers

Jesse Coghlan

Kenya’s lawmakers are considering the introduction of a 3% tax on cryptocurrency and nonfungible token (NFT) transfers and a 15% tax on monetized online content, according to a newly introduced bill. Introduced to the Kenyan parliament on May 4, The Finance Bill, 2023 would enact a digital asset tax on “income derived from the transfer or exchange of digital assets” which also included specific language for NFTs. The bill will undergo five rounds of readings, committees and reports by the National Assembly, if passed, it will then be passed to…

Crypto.com launches ChatGPT-based AI user assistant Amy

Savannah Fortis

Artificial intelligence (AI) continues its pervasive entry into industries worldwide. The latest crypto industry adoptee is Crypto.com, which announced its new generative AI user assistant. Crypto.com announced “Amy” on May 2. The crypto exchange’s new AI companion is built to inform users about the industry, including real-time token prices and projects, historical events, and more. According to the announcement, Amy, which uses ChatGPT as its base, is currently in the pilot phase to “gather learnings” before future expansion. Abhi Bisarya, the executive vice president of product at Crypto.com, says the…

MicroStrategy’s Bitcoin conviction ‘strong’ as it posts Q1 profit

Brayden Lindrea

Business intelligence platform MicroStrategy has reiterated its commitment to its Bitcoin (BTC) investment strategy after turning its first quarterly profit since 2020.  The Michael Saylor-founded firm went back into the green in the first quarter of 2023 with a profit of $94 million, which was largely attributed to a one-time income tax benefit of $453.2 million. Phong Lee, the firm’s chief executive officer explained in the May 1 statement that MicroStrategy’s “conviction” in its Bitcoin (BTC) investment strategy is as “strong” as ever: “The conviction in our bitcoin strategy remains…

‘Good luck bears’ — Bitcoin traders closely watch April close with BTC price at $29K

William Suberg

Bitcoin (BTC) narrowed volatility on April 30 as the weekly and monthly candle closes loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader sees BTC price upside capped at $32,500 Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it loitered just above $29,000 throughout the weekend. After unsettled price action earlier in the week, Bitcoin returned to sideways trading, with markets witnessing an eerie calm despite the potential for volatility thanks to lower weekend liquidity. As such, traders were hopeful that no unwelcome surprises would greet the candle…

Mastercard launches Web3 user verification solution to curb bad actors

Brian Quarmby

Global financial services giant Mastercard has launched a new Web3 solution aimed at enhancing user verification standards and “reducing the opportunities for bad actors” in the digital asset space. The solution is dubbed the “Mastercard Crypto Credential” and its launch was announced on April 29. In an accompanying explainer video shared to Twitter, the firm outlined that its “building a way for Web3 and blockchain service providers to help secure transactions between users, verified according to standards set by Mastercard.” At #Consensus23, we announced how we are instilling trust in…

‘The war room was despondent’ — Scaramucci recounts FTX collapse at Consensus

Tom Blackstone

On April 27, SkyBridge Capital founder Anthony Scaramucci revealed what the final days of FTX were like, claiming that most employees of the failed crypto exchange probably didn’t know what its executives were doing behind closed doors until it was too late. In a panel discussion called “FTX: What Happened?” at Consensus 2023, Scaramucci gave a detailed narrative of what happened from his perspective. The SkyBridge founder said he remembers hearing that FTX CEO Sam Bankman-Fried had commented negatively about Binance CEO Changpeng “CZ” Zhao. Scaramucci claimed that CZ responded…

Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31 – Altcoins Bitcoin News

Jamie Redman

While several top digital assets have decreased in value against the U.S. dollar over the past month, the stablecoin economy has lost $2.4 billion in value since March 31, 2023. Four of the top five stablecoins experienced net redemptions over the last 30 days, except for tether, which grew by 2.3% during that time. Four of the Top Five Stablecoins Experience Net Redemptions in the Past 30 Days On March 31, 2023, the top stablecoins by market capitalization represented $133.63 billion in value, and now the valuation is down to…

Crypto community split on Coinbase NFT’s push for ‘sensible crypto policy’

Ezra Reguerra

As crypto exchange Coinbase makes a push toward a sensible regulatory environment for the crypto space, the exchange launched a nonfungible token (NFT) collection to gain the community’s support. However, not everyone is excited about the move, with some not even sure if it will have any impact at all.  On April 25, Coinbase launched an NFT campaign dubbed “Stand With Crypto” after filing a court action that aims to compel the United States Securities and Exchange Commission (SEC) to answer its rulemaking petition. According to Coinbase, the NFTs represent…

Binance Launches Ether-Based Liquid Staking Product WBETH to Rival Liquid Staking Competitors – Altcoins Bitcoin News

Jamie Redman

In an announcement made on April 24, Binance, the cryptocurrency exchange with the largest trade volume, unveiled its latest staking product, wrapped beacon eth (WBETH). This new addition to Binance’s staking solutions is built on the Ethereum network, joining the ranks of other competing liquid staking products such as Lido, Coinbase, Rocket Pool, and Frax. WBETH Emerges as Binance’s New Solution to Ethereum-Based Staking Liquid staking products based on Ethereum have been gaining popularity over the past two years. According to defillama.com metrics, as of this writing, there are over…

Celsius auction has Gemini and Coinbase as new bidders: Report

Ana Paula Pereira

Two new consortiums will dispute the assets of bankrupt crypto lender Celsius Network in an auction scheduled for April 25 in New York. According to reports and court filings, crypto exchanges Gemini and Coinbase are among the companies participating in the bids.  Court documents show that one of the consortiums is Fahrenheit, backed by venture capital firm Arrington Capital, which is owned by blockchain investor Michael Arrington. Other participants in the consortium are Proof Group Capital Management, former Algorand CEO Steven Kokinos and investment banker Ravi Kaza. Arrington mentioned that Coinbase…