CryptoNews

Ethereum Foundation Defends $96.9M Transfer Amidst Criticism

August 29, 2024
On Aug. 23, 2024, the Ethereum Foundation made a significant transaction by transferring 35,000 ETH, valued at approximately $96.9 million based on current ether rates. The transaction sparked some criticism from the crypto community, with a few voices raising concerns about the foundation’s transparency. However, the foundation’s executive director quickly clarified that the transfer was…
Read more
CryptoNews

US Bitcoin ETFs on the Verge of Controlling 1 Million BTC

August 23, 2024
According to the latest data collected on Aug. 16, 2024, the 12 spot bitcoin exchange-traded funds (ETFs) collectively hold around 910,153.83 BTC, which translates to over $53 billion at the current exchange rates. Leading the pack is Blackrock’s IBIT, holding the largest…
CryptoNews

Nigeria Aims to Include Cryptocurrencies in Tax System Overhaul

August 23, 2024
The Nigerian government is looking to impose taxes on the cryptocurrency industry. The Federal Inland Revenue Service (FIRS) plans to introduce a new tax law to achieve this. Despite being a major crypto market, Nigeria currently receives minimal tax income from crypto-related activities. The FIRS is seeking support from the Nigerian National Assembly to implement these changes. Nigeria Not…
Read more
CryptoNews

Stablecoin Market Expands: $2.21B Uptick in 8 Days Fueled by Tether's Growth Spurt

August 22, 2024
The stablecoin market has been picking up speed lately, and between Aug. 9 and Aug. 18, 2024, it expanded by $2.21 billion. During this period, Tether’s supply ballooned by an additional 1.26 billion USDT. Stablecoin Boom: $2.21B Growth Driven by Tether and PYUSD Between Aug. 9 and Aug. 18, 2024, the stablecoin economy expanded by $2.21 billion, building on the $1.53 billion growth seen from…
Read more
CryptoNews

Iran Escalates Crackdown on Illegal Crypto Mining Amid Severe Power Crisis

August 16, 2024
Iran is aggressively cracking down on illegal cryptocurrency mining as the nation faces a severe power crisis exacerbated by an intense heatwave. Iranian authorities claim that unauthorized crypto mining has significantly strained Iran’s power grid, leading to widespread industrial disruptions. A bounty program has been launched to encourage citizens to report illegal mining operations. Iran…
Read more