Bankrupt cryptocurrency exchange FTX’s claims agent has recently posted that the US Internal Revenue Service (IRS) is claiming a total of $44 billion from the exchange’s bankruptcy and related firms. The IRS is claiming $38 billion against its sister quantitative trading firm Alameda Research. The IRS assessed $20.4 billion in unpaid partnership and payroll taxes
Ethereum
MetaMask, a popular crypto wallet and decentralized application (DApp) provider, has announced that it will now allow Ether purchases through PayPal for its US users. The company claims to be the first Web3 wallet to offer this integration. This collaboration allows American users to select PayPal as their payment method for buying Ether, and it
Aave, a decentralized liquidity protocol, has deployed its V3 protocol on Optimistic rollup scaling protocol Metis. This deployment allows for a range of DeFi features and products to be brought to the Metis ecosystem. Aave’s community voted in favor of a proposal deploying on zero-knowledge (zk) proof EVM zkSync, paving the way for the DeFi
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
CoinShares, a European cryptocurrency investment firm, released its latest report on May 2, stating that the digital asset market has been experiencing bearish sentiment for the second consecutive week. This has resulted in outflows totaling $72 million, with crypto market funds experiencing outflows across all geographies and providers. The report mentioned that the bearish sentiment
The recent Shapella upgrade on Ethereum has caused a decrease in the share of Ether held by large investors, known as “whales.” Glassnode data shows that the amount of Ether held by whale addresses with 1,000-10,000 ETH dropped from 14.167 million ETH to 14.033 million ETH since the upgrade in mid-April. This suggests that these
Tenet, a new blockchain built on Cosmos, is set to use liquid staking coins from other networks to secure its transactions. This move could potentially allow the new network to inherit the security of older ones, according to a recent announcement from the developers. Liquid Staking Protocols Liquid staking protocols such as Lido, Rocket Pool,
INX, a securities token platform, has partnered with wallet infrastructure provider BitGo to launch a new wallet that comes equipped with compliance features for institutional investors. The wallet uses multi-party computation (MPC) technology to ensure cybersecurity and custody standards for holding INX securities tokens. The ERC-1404 Token Standard INX securities tokens are based on the
The price of Ethereum (ETH) has shown weakness after failing to break the $1,950 resistance on April 26. This led to a subsequent correction that drove ETH to $1,810 on May 1, nearing its lowest level in four weeks. Interestingly, this movement occurred while First Republic Bank (FRB) was seized by the California Department of
Flare, an EVM-based layer 1 Ethereum Virtual Machine (EVM) blockchain platform, has recently integrated its application programming interface (API) portal on Google Cloud Marketplace. This integration will enable developers and users of software products and services to access high-integrity blockchain data from Flare nodes and connected chain nodes. Benefits of Blockchain APIs Blockchain APIs offer
Josie Bellini is a renowned crypto artist, known for her iconic Bitcoin gas mask from Filter. She has made a name for herself in the NFT world, being featured on various platforms such as Christie’s, SuperRare, ASync Art, and Nifty Gateway. Her journey to becoming a successful artist was not conventional, having started her career
Arthur Hayes, the co-founder and former CEO of BitMEX, believes that the majority of people will face progressive wealth erosion due to the devaluation of money. He explained that governments will have no other option but to inflate away the public debt, resulting in the destruction of fiat wealth. The Solution to Wealth Erosion Hayes
Investors have anticipated a 25-basis-points rate hike by the United States Federal Reserve on May 3, and now wait for clues on the bank’s actions for the rest of the year. The World Economic Forum’s “Chief Economists Outlook” report, released on May 1, shows that 80% of chief economists surveyed believe central banks have to