Search Results for: industry

P2P Bitcoin Exchange Paxful Suspends Marketplace With Uncertainty of Return

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According to a message from Paxful Founder and CEO, Ray Youssef, the peer-to-peer bitcoin trading platform is suspending its marketplace, and the company is uncertain if it will return. Youssef cited challenges such as regulations and some key staff departures, but…

Tax Benefits for Bitcoin Businesses in Belarus Extended Until 2025

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Tax exemptions for companies and individuals legally working with cryptocurrencies in Belarus will remain in place until Jan. 1, 2025. A new presidential decree extends the tax cuts introduced in 2018 when the executive power in Minsk legalized crypto activities such…

Law Firm’s White Paper Claims US Bank Regulators Are Waging a ‘Clandestine Financial War’ Against Crypto Businesses

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According to a recent white paper published by four members of the law firm Cooper & Kirk, PLLC, U.S. bank regulators are attempting to “drive crypto businesses out of the financial system.” The paper, titled “Operation Chokepoint 2.0,” claims that after…

Bitcoin Hashrate Reaches 400 Exahash per Second, Researcher Says Network Could Reach Zettahash Era by 2025

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Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s)….

Nasdaq Aims to Launch Crypto Custody Services in Second Quarter

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Nasdaq intends to launch its custody services for digital assets like bitcoin by the end of this year’s second quarter. The exchange operator is among those traditional financial firms that want to play a role as intermediaries in the crypto sector…

80 Crypto Firms Interested in Establishing Presence in Hong Kong, Official Says

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Hong Kong’s Secretary for Financial Services and Treasury has revealed that more than 80 crypto companies have expressed interest in establishing a presence in Hong Kong. They include companies across mainland China, Canada, European Union countries, Singapore, the U.K., and the…

SEC in a Pickle: Crypto’s Tricky Trio Stirs Up Trouble in 2023

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2023 is shaping up to be a painful year for the U.S. Securities and Exchange Commission (SEC) as it finds itself entangled in battles with the ever-evolving and innovative cryptocurrency industry. From Ripple to Coinbase and Tron, the SEC faces fierce…

Multichain Wallet Bitkeep Raises $30 Million From Bitget to Strengthen Links Between Defi and Cefi

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On Wednesday, the multichain wallet Bitkeep announced it raised $30 million from the crypto derivatives platform Bitget. Bitkeep now has an overall valuation of $300 million, with goals aimed at strengthening the links between decentralized finance (defi) and centralized finance (cefi)….

First Republic Bank’s Shares Downgraded to Junk Status by S&P Global; Stock Slides More Than 25% Lower

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After UBS acquired Credit Suisse and close to a dozen financial institutions injected $30 billion into First Republic Bank four days ago, S&P Global downgraded First Republic’s shares to junk status on Sunday. Investors are concerned that the cash infusion from…