Category Archives: Crypto News

Japan’s largest investment bank Nomura readies new crypto subsidiary

The leading Japanese bank plans on establishing a crypto subsidiary outside of Japan and will acquire about 100 personnel to work in the digital asset space. The largest investment bank in Japan, Nomura, is set to establish a new subsidiary company to help institutional clients invest in cryptocurrency and nonfungible tokens (NFTs). The Financial Times reported on Tuesday, May 17, that people with knowledge of Nomura’s plans said the firm will bring together several crypto services under one single company with a staff of about 100 people […]

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Miami and New York City coins tank despite Mayoral endorsements

“People will stop mining the coin if they can’t make money off of it,” according to Michael Bloomberg who referred to the two previously hyped city coins. Despite being publicly endorsed by the respective mayors of both cities, MiamiCoin (MIA) and NewYorkCityCoin (NYC) have plunged 90% and 80% since their all-time highs. According to data from CoinGecko, the price of MIA has dropped 92% since its ATH of $0.055 on Sept. 20 to sit at $0.004 at the time of writing. While NYC’s value has fallen by […]

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Stablecoin supplies and cash reserves in question amid crypto exodus

The fallout from Terra’s collapse continues as outflows from Tether (USDT) hit an average of $1.1 billion a day over the past week. Cryptocurrency investors and traders have cashed out $7.7 billion from the stablecoin Tether (USDT) resulting in its market capitalization falling by 7.8% over the past seven days to $76 billion. The amount withdrawn from the top stablecoin is nearly double the $4.1 billion it held in cash reserves at the end of 2021 according to Tether’s latest reserves report from December 2021. To maintain […]

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Coinbase unveils Web3 mobile Dapp and DeFi wallet and browser

Coinbase is rapidly expanding its product offerings this month as some select users can now access DeFi and other Dapps on Ethereum through the Coinbase app. America’s largest crypto exchange Coinbase has rolled out Web3 app functionality including a hot wallet and browser for a limited set of its mobile app users. The app will allow select users to access decentralized apps (Dapps) on the Ethereum (ETH) network such as Uniswap and OpenSea. Today, we’re starting to make it dramatically easier for users to access & engage […]

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Portugal to lose crypto tax haven status as state announces gains duties

The small Iberian nation is set to reverse a long-standing tax law that excluded crypto gains on the grounds that they are not legal tender. To the chagrin of many Golden Visa seekers, Portuguese Finance Minister Fernando Medina has confirmed that his country will begin taxing cryptocurrency but has not committed to a date. The move to start taxing crypto was seconded by Secretary of State for Tax Affairs António Mendonça Mendes on May 13 according to Sapo, a local news outlet. There is not yet an […]

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US federal judge approves of Justice Dept criminal complaint on using crypto to evade sanctions

An unnamed individual allegedly sent more than $10 million in Bitcoin to an exchange in a country for which the U.S. currently imposes sanctions. The United States Department of Justice may move forward on a criminal prosecution case against a U.S. citizen who allegedly violated sanctions through cryptocurrency. According to a Friday opinion filing in U.S. District Court for the District of Columbia, the unnamed individual who is the subject of a criminal investigation by the Justice Department allegedly sent more than $10 million in Bitcoin (BTC) […]

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BIFI gains 100%+ after Beefy Finance adds new vaults and stablecoin liquidity pools

Quad-stablecoin liquidity pools, an integration with Oasis Network and 12 new vaults could be the factors behind BIFI’s current triple digit gain. Winston Churchill’s statement to “never let a crisis go to waste” can be applied across many aspects of society, including the recent carnage seen in the crypto market. Last week’s volatility is likely to have newer investors and those who took on heavy losses questioning the future of the burgeoning asset class, but in every bear trend there is a silver lining. One platform that […]

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California regulator will revisit long-running ban on crypto donations on May 19

“This has been on our radar since late last year,” said California’s Fair Political Practices Commission communications director Jay Wierenga. A California state regulator may be looking at overturning a ban on cryptocurrency donations to political campaigns which has been in effect since 2018. According to its May 2022 agenda, California’s Fair Political Practices Commission, or FPPC, has scheduled a “pre-notice discussion” on Thursday on the use of cryptocurrencies f campaign contributions in the state. The commission said it will be considering drafting amendments to its regulations […]

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MakerDAO price rebounds as DAI holds its peg and investors search for stablecoin security

MakerDAO returned to prominence after Terra’s UST collapse forced investors to search for a truly “stable” dollar pegged asset. Its been a rough couple of weeks for the cryptocurrency market. Bitcoin (BTC) price is nowhere near the price estimates of most analysts, multiple stablecoins lost their peg and the demise of one of the top decentralized finance (DeFi) platforms sparked an event that resulted in $900 billion vanishing from the total crypto market capitalization.  In the midst of the widespread fallout, MakerDAO (MKR) managed to turn crisis into […]

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Do Kwon proposes Terra hard fork to save ecosystem

Terraform Labs will put the proposal up for a governance vote on May 18 Asia time. On Monday, Do Kwon, co-founder of the troubled Terra Luna blockchain, announced a revised plan to restore the ecosystem after a combination of significant market volatility and inherent protocol design flaws wiped out a vast majority of the blockchain’s market cap. As told by Kwon, Terraform Labs will put forth a new governance proposal on May 18 to fork the Terra Luna blockchain called Terra (token name: LUNA).  However, the new […]

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