Where did the rumors of the collapse of USDC come from?

Where did the rumors of USDC collapse come from? A Twitter thread by @CryptoInsider23 said Circle was constantly losing money as the company raised money twice a year over the past year to pay for the ~5% incentive they offered. According to Gerald Davidson (@CryptoInsider23) analysis on Twitter, Circle already lost $500 million in the … Read more

Meta Offers NFTs to Users of the Crypto Winter Period

Meta provides non-fungible tokens (NFTs) to users during the Crypto Winter period to stay ahead of the competition with other platforms. Mehta’s head of fintech, Stephane Kasriel, told the Financial Times that the company will continue to push the NFT blueprint. Kasriel said he hasn’t changed his plans “at all” despite disappointing indicators from the … Read more

Inflation Data Released: How Will The Cryptocurrency Market Be Affected?.

The decisions made by the FED and other institutions with which the US shares economic data have been causing sharp fluctuations in the crypto money market for about two years. The U.S. Bureau of Labor Statistics will release inflation data this Wednesday. The latest inflation data exceeded expectations, causing the downtrend in the cryptocurrency market … Read more

Cryptocurrency brokerage Voyager Digital files for Chapter 11 bankruptcy

Voyager Digital (Chapter 11), a crippled cryptocurrency brokerage, filed for Chapter 11 bankruptcy following last week’s suspension of deposits and withdrawals. A series of collapsing cryptocurrency collateral is causing chaos throughout the industry, with giant corporations collapsing like dominoes. Most recently, Voyager Digital filed for Chapter 11 bankruptcy in New York, according to documents filed … Read more

Against Western Sanctions, Russia Considers Licensing Crypto for International Payments

The Russian Federation is reportedly considering allowing cryptocurrencies to be used in international payments. It was Russia’s response to sanctions imposed by the West after its military operation into Ukraine. Moscow-based news agency Interfax reported on Friday (27/5/2022), Head of the Financial Policy Division at the Russian Ministry of Finance, Ivan Chebeskov, that Russia is … Read more

India Implements New Crypto Tax, Trading Volume Drops by 90 Percent

India’s new cryptocurrency tax has dealt a heavy blow to the country’s crypto exchanges, adding to broader sectoral woes and sending trading volumes plunging by up to 90 percent. A 1 percent tax on Indian cryptocurrency trading since the start of this month has been a further disincentive for investors in the crypto market. Previously, … Read more

Russia Monitors Crypto Transactions Strictly

Russia’s financial monitoring agency, Rosfinmonitoring, said it was using software to track cryptocurrency transactions. They also hope to improve those capabilities as Moscow regulates what one lawmaker has dubbed “cryptomania”. The Bank of Russia (Russia’s central bank) has long voiced skepticism over cryptocurrencies due to concerns over financial stability. They have also advocated a complete … Read more