Cryptocurrencies have taken the world by storm, and you may have heard stories of people making significant gains by investing in digital assets like Bitcoin and Ethereum. If you’re new to this exciting financial frontier, you’re in the right place. This article serves as your go-to guide for starting cryptocurrency investment, tailored especially for beginners.
How to Choose the Right Web3 Wallet: A Beginner’s Guide
In recent times, the online world has begun evolving into something new and exciting known as Web3. Unlike the current version of the web (Web2), where big companies control and manage our data, Web3 provides a structure where you and I have control over our own data, creating a more open and decentralized internet. It’s…
FinCEN Proposed Rule Targets Digital Asset Mixers
On October 19, 2023, the U.S. Department of the Treasury’s (“Treasury”) Financial Crimes Enforcement Network (FinCEN) announced a Notice of Proposed Rulemaking (NPRM) that would implement new recordkeeping and reporting requirements on domestic financial institutions and domestic financial agencies, related to transactions that they know, suspect, or have reason to suspect involve convertible virtual currency…
Uniswap Founder Hayden Adams Burns $650 Billion Worth of HayCoin Supply
Yup, you read that right.
On October 20th 2023, something remarkable happened in the world of cryptocurrency. Hayden Adams, the founder of Uniswap, made a surprising move that sent shockwaves through the crypto community. He decided to burn 99% of the entire supply of a cryptocurrency called HayCoin. But why did he do…
Reddit Ends Community Points Crypto Program, Leading to Significant Value Drop
Reddit, a popular online community platform, is bidding farewell to its blockchain-based Community Points program, which includes the MOON cryptocurrency. This program, introduced three years ago, aimed to motivate Reddit users to contribute high-quality content. However, according to Tim Rathschmidt, Reddit’s Director of Consumer and Products Communications, maintaining it became too resource-intensive to justify.…
CFTC Wades into DeFi Enforcement Again
Last month, the Commodity Futures Trading Commission (CFTC) announced settled charges against three decentralized finance (DeFi) protocols for various registration and related violations under the Commodity Exchange Act (CEA) during the relevant period of investigation. As a result, each entity paid a civil monetary penalty and agreed to cease violations of the CEA. According to a statement by Commissioner Kristin N. Johnson, these latest settlements are the first time the CFTC charged a DeFi operator (e.g., Opyn, Inc. and Deridex, Inc.) with failing to register as a swap execution facility (SEF) or designated contract market (DCM). Moreover, these latest enforcements against DeFi entities arrive soon after the CFTC’s successful enforcement and default judgment against Ooki DAO, which the CFTC alleged was operating a decentralized blockchain-based software protocol that functioned in a manner similar to a trading platform and was violating the CEA (prior coverage of the Ooki DAO enforcement can be found here).
Bitcoin ETF Approval Chances Soar to 90%, Bloomberg Intelligence Reports
In a significant turn of events for the cryptocurrency world, Bloomberg Intelligence analysts have revealed that the likelihood of the U.S. Securities and Exchange Commission (SEC) approving a Bitcoin Exchange-Traded Fund (ETF) has surged to an impressive 90%. This newfound optimism stems from recent developments, including a legal victory for Grayscale Investments LLC and promising…
Ferrari Now Accepting Cryptocurrency Payments for Luxury Sports Cars in the US, Europe Expansion Planned
Ferrari, the celebrated Italian luxury sports car manufacturer, has embarked on a trailblazing journey by embracing cryptocurrency as an accepted payment method for its opulent vehicles in the United States. Furthermore, they are gearing up to extend this innovative initiative into Europe in the coming months, according to an article on Reuters. This strategic shift…
Museum of Modern Art (MoMA) Makes Historic Acquisition of Two NFT Artworks
In a groundbreaking move, The Museum of Modern Art (MoMA) has added two NFT (Non-Fungible Token) artworks to its permanent collection. This momentous step marks the first time the esteemed museum has included tokenized artworks in its vast collection, paving the way for a new chapter in the art world.
The first of these pioneering…
Immutable and Amazon Web Services (AWS) Collaborate to Supercharge Web3 Game Development
In an exciting development in the world of Web3 gaming, Immutable, a leading blockchain gaming platform, has forged a strategic partnership with Amazon Web Services (AWS). This collaboration is set to usher in a new era of innovation, offering game developers expanded options and powerful resources for their projects.
Immutable has garnered significant attention…