The cryptocurrency market experienced a significant downturn on Friday, with over $170 billion shed in combined market capitalization within a 24-hour period. This plunge coincides with the long-awaited payout of nearly $9 billion in Bitcoin and Bitcoin Cash to creditors of the defunct Mt. Gox exchange. The price of Bitcoin, the world’s leading cryptocurrency, bore the brunt of the sell-off, dropping over 6% to reach its lowest […]
The cryptocurrency realm witnessed a dramatic surge in theft during the first half of 2024, with stolen digital assets exceeding $1. 38 billion according to a report by blockchain research firm TRM Labs. This figure marks a staggering increase compared to the same period in 2023, where crypto hacks yielded roughly $657 million. Researchers attribute this troubling trend to two key factors:a rise in the value of […]
KuCoin, a Seychelles-registered cryptocurrency exchange, announced the implementation of a 7. 5% Value Added Tax (VAT) on transaction fees for users in Nigeria. The new policy, effective July 8th, 2024, has generated mixed reactions from the Nigerian crypto community. KuCoin claims the VAT implementation complies with an unspecified “regulatory update. ” However, some observers speculate the move is strategically timed to improve KuCoin’s standing with Nigerian authorities. […]
The US Marshals Service (USMS), a federal agency responsible for asset forfeiture under the Department of Justice (DOJ), has selected cryptocurrency exchange Coinbase to manage and dispose of seized digital assets. This collaboration, valued at over $32 million, signifies a growing embrace of cryptocurrency by the US government and highlights the need for secure handling of confiscated digital holdings. Coinbase Prime, the platform’s institutional arm, will assume […]
While Bitcoin continues to dominate headlines and capture the imagination of some investors, a new report suggests Canadians are taking a wait-and-see approach to cryptocurrencies, preferring the familiarity of physical cash. The Cointelegraph report, citing a recent study from the Canadian Imperial Bank of Commerce (CIBC), revealed that a whopping 82% of Canadians surveyed still rely on cash for everyday transactions. The study, which polled over 1, […]
The long-awaited approval of spot Bitcoin exchange-traded funds (ETFs) in the United States has sent shockwaves through the cryptocurrency market. This regulatory green light has fundamentally altered market dynamics, ushering in a new era of institutional investment and potentially reshaping the future of crypto. Prior to the ETF approvals, the cryptocurrency market faced an uphill battle in attracting mainstream investors. The lack of a regulated and familiar […]
HONG KONG SAR – Media OutReach Newswire – 5 July 2024 – Today, IX Asia Indexes announced the 1st Half 2024 Review of the IX Digital Asset Industry Classification System (“DAICS®“), aiming to provide the professionals worldwide with a transparent and standardized classification scheme to determine sector and exposure of particular digital assets. DAICS® classifies digital assets into 2 main categories: a) Cryptocurrencies and b) Asset Backed […]
LONDON, UK – Media OutReach Newswire – 4 July 2024 – In the rapidly evolving world of cryptocurrency, finding a platform that combines innovative technology, compliance and security, and profitability is crucial for every trader. As the world’s largest derivatives trading platform designed for market makers, UbitEx is emerging as a frontrunner in this space. Founded by Alex Sandro, a Cambridge University graduate, UbitEx is redefining the […]
For centuries, the intricate dance of sunlight, water, and carbon dioxide within plant life has remained a captivating scientific mystery. Photosynthesis, the process that fuels our planet’s ecosystems, has been meticulously studied, yet a key detail – how plants efficiently convert light energy into usable fuel – has eluded complete understanding. However, a recent breakthrough by a team of researchers at the Massachusetts Institute of Technology (MIT) […]
Financial technology giant PayPal reported a 27% surge in profits for the first quarter, marking a positive start to the year. This increase comes alongside the company’s implementation of a new reporting structure that incorporates stock-based compensation. The shift in reporting reflects a growing trend within the tech industry, where stock options are a significant component of employee remuneration packages. By factoring in stock-based compensation, PayPal aims […]
In a move signifying its ambition to become a prominent player in the Middle East and North Africa (MENA) region, India’s leading cryptocurrency exchange CoinDCX has acquired Dubai-based BitOasis. The acquisition, finalized on July 3, 2024, marks CoinDCX’s first major international expansion and strengthens its position in the burgeoning global crypto market. This strategic move comes on the heels of CoinDCX’s initial investment in BitOasis last August. […]
Bitpanda Mena, the regional arm of the leading European crypto investment platform, has revealed a significant rise in cryptocurrency adoption within the United Arab Emirates (UAE). This surge comes amidst a period of growing interest and regulatory clarity surrounding digital assets in the region. According to Bitpanda Mena, the UAE has witnessed a substantial increase in new user registrations on their platform. This trend reflects a broader […]
SHANGHAI, CHINA – Media OutReach Newswire – 2 July 2024 – Recently, the 2024 Mobile World Congress Shanghai (MWC Shanghai 2024) was held at the Shanghai New International Expo Centre. This influential industry event, known for connecting the Asian ecosystem, attracted experts, scholars, and industry attendees from around the world. The Hetao International Organization Headquarters (HIOH) made its collective debut, and aims to leverage its position in […]
HONG KONG SAR – Media OutReach Newswire – 2 July 2024 – XTransfer, the World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, participated in the World Economic Forum’s 15th Annual Meeting of the New Champions (Summer Davos Forum) held in Dalian at the end of June. Bill Deng, Founder and CEO of XTransfer, met with leaders of renowned international financial institutions during the Forum to […]
Japanese tech titan Sony is making a splash in the cryptocurrency world by launching its own digital currency exchange. This move signifies the growing mainstream acceptance of cryptocurrencies and the potential they hold for established corporations. Sony’s foray into the crypto market comes through its acquisition of S. BLOX, formerly known as WhaleFin. S. BLOX, originally the Japanese exchange DeCurret, was acquired by Sony subsidiary Quetta Web […]
The jingle of coins and the rustle of bills may become a relic of the past as central banks around the world delve into the potential of central bank digital currencies (CBDCs). Driven by the burgeoning digital economy and the growing popularity of cashless transactions, these government-backed digital tokens aim to streamline payments and enhance financial inclusion. But will CBDCs completely dethrone physical cash? The rise of […]
Move over DeFi and NFTs, there’s a new champion in town when it comes to cryptocurrency returns in 2024. While analysts were busy chasing the next big thing in decentralized finance and non-fungible tokens, a sector with a more playful pedigree has been quietly stealing the show. Memecoins, the often-lighthearted digital assets inspired by internet jokes and pop culture references, have emerged as the most profitable cryptocurrency […]
The cryptocurrency market continues to evolve, presenting both challenges and opportunities for miners. While factors like mining difficulty and energy consumption remain crucial considerations, identifying the most profitable coins to mine can significantly impact your yield. Here, we explore the top 5 cryptocurrencies to mine in 2024, taking into account their current profitability, mining difficulty, and long-term potential. Emerging as a strong contender, BlockDAG utilizes a unique […]
The cryptocurrency market continues to witness a surge in interest for alternative coins, also known as altcoins. While Bitcoin (BTC), the world’s leading digital asset, remains the dominant player, altcoins are carving out a niche for themselves. Investors seeking high-growth opportunities are increasingly turning to altcoins, with some registering significant gains in recent months. A critical metric to gauge investor interest in a particular cryptocurrency is open […]
Qatar Airways Privilege Club, the loyalty program of the Doha-based carrier, has announced a new collaboration with talabat, Qatar’s leading delivery platform. This partnership expands earning and spending opportunities for Privilege Club members in Qatar, allowing them to accumulate Avios, the program’s reward currency, on everyday purchases. Members can now earn Avios for talabat orders exceeding QR200 by using a payment card linked to their Privilege Club […]
SINGAPORE – Media OutReach Newswire – 28 June 2024 – In the competitive realm of Forex trading, Phillip MetaTrader 5 introduces zero spreads and zero commission on the AUD/USD currency pair, aiming to redefine the trading experience. Delve into the intricacies of the AUD/USD pair, influenced by economic indicators, technical trends, and global events. This article provides valuable insights into its volatility drivers and effective strategies for […]
The US Treasury Department has unveiled its long-awaited framework for taxing cryptocurrency transactions. The new regime, set to take effect in 2025, establishes clear reporting requirements for crypto brokers but postpones definitive rules for a specific segment of the industry:non-custodial wallet providers. Under the new guidelines, crypto brokers will be obligated to file 1099 forms with the Internal Revenue Service (IRS), mirroring the existing reporting structure for […]
OctaTrader’s Ideation Centre KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 28 June 2024 – Octa‘s mission as a global broker is to make trading more accessible and understandable. Catering to the most popular demands of the traders’ community, the Octa team has enhanced its proprietary trading platform, OctaTrader, by adding Space, a new toolkit in the OctaTrader ecosystem. Space is a customisable analytics hub built into […]
The Turkish Parliament (TBMM) has enacted a new law establishing a stricter regulatory framework for cryptocurrency assets. The legislation aims to combat illegal activities within the crypto space while providing a more controlled environment for investors. A key provision of the bill targets unauthorized crypto service providers. Individuals and legal entities operating without the requisite authorization face imprisonment ranging from 3 to 5 years. This stipulation seeks […]
