The Australian Securities and Investments Commission (ASIC) has taken legal action against leading online trading platform eToro over alleged violations of financial regulations related to cryptocurrency derivative products. This lawsuit comes as a result of two-thirds of Contract For Difference (CFD) traders reportedly losing funds. The ASIC has accused eToro of contravening the design and
The LUNC community has been striving to revive the ecosystem’s native LUNC token, but recent data from an artificial intelligence (AI) algorithm raises concerns about the effectiveness of these efforts. According to PricePredictions, a state-of-the-art crypto analysis and forecasting platform, Terra Classic’s (LUNC) price is projected to decline to approximately $0.000076 by the end of
Cryptocurrency has become a significant player in the financial world, with a market capitalization of over $2 trillion. However, its rapid rise has exposed several loopholes, particularly in terms of tax reporting. The US government, in an attempt to address the estimated $50 billion crypto tax gap, enacted the Infrastructure Investment and Jobs Act (IIJA)
When Ethereum made its transition from a proof-of-work (PoW) to a proof-of-stake (PoS) framework, the blockchain industry was in search of an alternative. It was during this time that Kaspa, a Directed Acyclic Graph (DAG)-based PoW platform, emerged onto the scene. This innovative protocol provided a timely solution to the evolving needs of the blockchain
The revival plans of FTX, a crypto exchange, have raised eyebrows among industry insiders. Jesse Powell, co-founder of Kraken, has expressed doubts about the feasibility of FTX 2.0’s aspirations. In a series of tweets, Powell pointed out various challenges that could hinder the resurrection of the defunct exchange. This article critically analyzes the concerns raised
In the world of cryptocurrencies, Ethereum has always been a prominent player. However, recent data from Etherscan shows that the number of active ERC-20 addresses has not seen significant changes in 2023. This is quite surprising considering the volatility that has been observed in the cryptocurrency market. As of August 2nd, there were approximately 275,000
Bitcoin’s price has been experiencing a downward move, currently trading below the crucial $29,500 pivot level. Moreover, the price is below $29,300 and the 100 hourly Simple Moving Average (SMA), indicating a bearish trend. BTC’s inability to surpass the $30,000 resistance zone has resulted in a fresh decline as it struggles to regain momentum. There
The Shiba Inu cryptocurrency, which originated as a meme, has established a solid presence in the market. Currently, it is making waves with the upcoming launch of ‘Shibarium.’ Recent data from IntoTheBlock reveals that the crypto’s whales, entities holding large quantities of tokens, have been involved in significant movements, transferring billions of SHIB tokens in
In a significant development, Ripple, the renowned blockchain-based payment company, has recently made the critical decision to remove the particulars of its XRP transactions from its quarterly reports. This move comes as a direct consequence of the ongoing legal feud between Ripple and the U.S. Securities and Exchange Commission (SEC). Ripple’s July 31 report candidly
Cryptocurrency exchange Binance has been making waves in the market, with CEO Changpeng “CZ” Zhao expressing his intention to introduce smaller algorithmic Stablecoins. This move aims to provide investors with alternatives to the existing global Stablecoin giants such as Tether and Binance USD. In a recent Twitter “Ask Me Anything” (AMA) session, CZ highlighted concerns
