Binance USD (BUSD), the stablecoin issued by Paxos for crypto exchange Binance, has experienced a dramatic decline in market capitalization. CoinGecko data shows that BUSD’s market cap has plummeted from its peak of $23.5 billion in November 2022 to a mere $2.1 billion currently. This puts BUSD significantly behind other stablecoins like USDT and USDC,
Blockchain
Polygon Labs, the creator of the Polygon network, has recently launched the POL smart contract token on the Ethereum mainnet. This highly anticipated token upgrade aims to serve as a replacement for the MATIC token within the Polygon ecosystem. With the introduction of the POL token, Polygon 2.0 is one step closer to realizing its
In a shocking turn of events, a Georgia medical doctor has admitted to using Bitcoin to pay someone on the dark web to kill his girlfriend. This chilling revelation has stunned the public and shed light on the potential dangers associated with digital currencies. The case, which unfolded in the US Attorney’s Office, Northern District
The DeFi Education Fund (DEF) and crypto investment company Paradigm have joined forces to support James Harper’s lawsuit against the US Internal Revenue Service (IRS). In an amicus brief filed separately, they argue that the Supreme Court should reverse the district court’s decision in Harper’s case. Moreover, they emphasize that dismissing Harper’s complaint could impede
In recent times, there has been a lot of discussion surrounding the potential implementation of a Central Bank Digital Currency (CBDC) in Argentina. Economic Minister Sergio Massa has suggested utilizing this technology as a means of driving fiscal growth in the country. The Central Bank of Argentina has now revealed its plans to advocate for
Bitpanda, Europe’s largest cryptocurrency exchange, has recently announced a significant milestone in its expansion plans. The Vienna-based exchange has secured a license to offer virtual asset services (VASP) in Norway, making it one of the first foreign cryptocurrency exchanges to receive such approval in the country. This article discusses the implications of this move for
The European Union (EU) data protection agencies have raised concerns about potential privacy risks associated with the proposed Central Bank Digital Currency (CBDC), the digital euro. In a joint statement, the European Data Protection Board (EDPB) and the European Data Protection Supervisor (EDPS) acknowledged the benefits of the CBDC but also highlighted loopholes and areas
The customers of the now-bankrupt cryptocurrency exchanges FTX and FTX.US have a glimmer of hope as they anticipate the possibility of reclaiming more than 90% of their assets. An amended proposal has been introduced with the aim of returning funds that were held by the exchange before its collapse in November of the previous year.
The Solana Foundation, the nonprofit organization behind the layer-1 blockchain Solana, has taken an exciting step forward by joining the Dubai Multi Commodities Centre (DMCC) as an ecosystem partner. This strategic move is aimed at tapping into the thriving Web3 value that Dubai has to offer. The collaboration between Solana and DMCC will bring forth
The recent proposal by the U.S. Internal Revenue Service (IRS) to establish clear tax regulations in the cryptocurrency industry has sparked a heated debate. While the IRS aims to increase transparency and generate more tax revenue, Coinbase, the largest cryptocurrency exchange, argues that these regulations could have detrimental effects on both the industry and the
