Alibaba Cloud has announced a partnership with layer-1 blockchain Avalanche and service layer provider MUA DAO to launch Cloudverse, a metaverse launchpad that will enable businesses to create, deploy, and manage their unique metaverse environments on Avalanche’s blockchain. The partnership was revealed at the Avalanche Summit II event. The aim of Cloudverse is to provide
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The UK Financial Conduct Authority (FCA) has taken action against unregistered crypto ATMs in the country, citing their potential for money laundering. The regulator conducted inspections in Exeter, Sheffield, and Nottingham in collaboration with local police. While crypto ATMs are legal in the UK, they must be registered with the FCA before operating. However, none
After the success of Pepe Coin, the world has been eagerly waiting for the next big thing in meme crypto. And now, SpongeBob Token ($SPONGE) has taken the market by storm, surging 700% within just 24 hours of its launch. The Launch of $SPONGE Launched at 10 AM (EST) on Thursday, May 4, 2023, SpongeBob
Kenya is set to impose a 3% tax on the transfer or exchange of cryptocurrencies to boost the country’s domestic revenues and narrow its fiscal deficit. The proposed tax is part of a newly-designed bill aimed at stabilizing the financial condition of the African nation. The bill also proposes a 15% levy affecting creators of
Several New York lawmakers have thrown their support behind a new Crypto Regulation, Protection, Transparency and Oversight (CRPTO) Act. On May 5, New York Attorney General Letitia James introduced the legislation, which would widen the scope of regulatory authority over crypto firms. According to James, the proposed bill will “tighten regulations on the crypto industry
A professor of peace and conflict research at Sweden’s Uppsala University, Ashok Swain, has stated that if Saudi Arabia joins the BRICS economic bloc, it could accelerate the use of the yuan as a trading currency. Professor Swain is the head of Uppsala University’s Department of Peace and Conflict Research and the UNESCO chair on
Coinbase, the US crypto giant, has been in a legal battle with the Securities and Exchange Commission (SEC) over the issue of regulation. The company asked the SEC in July 2022 whether it would allow the industry to be regulated using existing frameworks. However, the SEC refrained from offering specific public responses. The Latest Development
John Reed Stark, a former chief of the U.S. Securities and Exchange Commission (SEC) Office of Internet Enforcement, has refuted Coinbase’s claims of having a “regulatory safe harbor” and the notion that the SEC is constrained by a certain doctrine. Stark added that the argument that Coinbase’s business activities were endorsed by the SEC when
During her testimony before the Senate Armed Services Committee on May 4, Senator Elizabeth Warren emphasized how cryptocurrency has become the preferred method for countries to evade sanctions, fund weapons programs, support spying, and promote cyber attacks. Warren noted that although much cryptocurrency-related crime is hidden, more than $20 billion in illicit transactions took place
Sui (SUI) has experienced a sharp decline in its price after its market debut across leading cryptocurrency exchanges. On May 5, the token was trading at $1.26 per token, a decrease of about 70% from its record high of approximately $4, which was established just two days prior on Binance. SUI Maintains Overall Market Gains
Bitcoin transaction fees have surged to their highest level in two years, hitting $3.5 million on May 3rd. This represents a 400% increase from late April, with the average transaction fee reaching $7.2. While this increase is partly attributed to a surge in Bitcoin activity involving BRC-20 transactions, it is primarily caused by the ongoing
A French citizen, Thomas Clausi, has been sentenced to 18 months in prison for orchestrating a cryptocurrency scam in Morocco. The 21-year-old must also pay a $3.7 million fine to customs authorities and compensate his victims. Clausi’s trial began a few years ago when he purchased a Ferrari for $440,000 worth of Bitcoin from a
Since the inception of Dogecoin in 2013, memecoins have been a part of the cryptocurrency space. However, a new token called Pepe (PEPE) has grabbed a significant share of the market from plucky investors. Pepe Token Rally PEPE saw a 2,000% boom in value following its launch in late April 2023, primarily attributed to zealous
Pepe Coin (PEPE) has shown remarkable growth in the crypto sector, with its price surging by over 900% in the past seven days. The coin has continued to perform well with another 60% increase in the last 24 hours, and its market capitalization has skyrocketed to over $1 billion. This surge is isolated, as other
Stronghold Digital Mining, Inc. has announced a two-year hosting agreement with Cantaloupe Digital, a subsidiary of Canaan, the manufacturer of Avalon-made ASICs. Starting on May 15, Stronghold Digital will install Avalon A1246 mining rigs, each with 90 terahash per second (TH/s) of hashpower. The company plans to install 2,000 Avalon A1346 miners in June, with
Santiago Cafiero, the foreign minister of Argentina, recently spoke about the advantages that a common currency for Latin American countries would bring to the region and his own country. Although various proposals were discussed during a four-hour meeting between Brazilian President Luiz Inacio ‘Lula’ da Silva and Argentine President Alberto Fernandez, the idea of a
Pepe (PEPE), a cryptocurrency with a frog-based meme theme, has witnessed a surge of over 85% in the last 24 hours. PEPE, which was launched on April 14, 2023, has exceeded a market cap of $1 billion. Ironically, the token’s core value proposition is that it has none. The official website of the cryptocurrency comes
DeeLance is a groundbreaking web3 start-up that is making waves in the crypto industry. It is building an innovative metaverse that utilizes crypto and NFTs to unite freelancers and employers, promising to change the $761 billion-dollar recruitment sector and the way remote working is done. The blockchain-powered digital space is designed to empower both freelancers
South Korea’s interest in the metaverse continues to grow rapidly, as highlighted in a new report on its market growth. The report provides valuable insights into the industry’s size, trends, and dynamics in the country, with investments from both government entities and private corporations. The government has demonstrated its commitment to emerging technologies, including metaverse,
The play-to-earn (P2E) gaming industry has seen significant growth in recent years, with enthusiasts embracing the concept of earning cryptocurrencies or non-fungible tokens (NFTs) as rewards for completing in-game challenges. However, the P2E platform has been losing its structure due to the fall of in-game traction, which has impacted the value of native tokens such
Alex Mashinsky, founder of Celsius Network, has filed a motion to dismiss the civil lawsuit against him by New York State Attorney General Letitia James. The complaint accuses Mashinsky of defrauding investors by concealing the deteriorating financial state of the lending platform, leading to the company’s bankruptcy. James’ lawsuit seeks to prevent Mashinsky from operating
CoinMarketCap has partnered with Web3 entertainment company Hello Labs to create a new reality show called “Killer Whales.” The show is inspired by the popular series “Shark Tank” and aims to promote the entrepreneurial spirit of the Web3 domain to a wider audience. The Competition “Killer Whales” provides a platform for entrepreneurs to pitch their
Texas regulators have set their sights on an individual who is allegedly promoting two cryptocurrencies that aim to capitalize on Elon Musk’s artificial intelligence (AI) pursuits. The cryptocurrencies are named Elon Musk AI Token and TruthGPT Coin, which is named after Musk’s proposed ChatGPT competitor. The Texas State Securities Board (TSSB) has filed a cease-and-desist
During the previous bull cycle, the Crypto.com card offered members enticing benefits, such as substantial cashback and increased staking rewards for users locking CRO tokens up for a minimum of 180 days. However, after June 1, 2022, Crypto.com cut these benefits in response to deteriorating market conditions, such as halving cashback, capping monthly rewards, and
The cryptocurrency industry in the US is convinced that the country’s financial watchdogs are deliberately preventing it from flourishing, due to repeated regulatory failures. According to a report by the Intelligencer, both written and unwritten policies and rules are making it difficult or even impossible for crypto-related companies to operate in the US. The CEO
A Democratic presidential candidate has spoken out against the anti-crypto sentiment growing within his party. Environmental lawyer, Robert Kennedy Jr., has blamed regulatory agencies for the failure of several banks in March. Kennedy has opposed the bailout approach used by financial agencies and criticized the Federal Deposit Insurance Corporation (FDIC) and Securities and Exchange Commission
Iranian companies have been given permission to pay for imports using cryptocurrencies, the country’s Trade Promotion Organization (TPO) has confirmed. The head of the government body, Alireza Peymanpak, stated that the Central Bank of Iran (CBI) had authorized the use of digital coins for imported goods, with the final decision to be made by the