Social media company X is now worth less than half of what Elon Musk paid for Twitter, according to internal documents quoted by the press. The billionaire investor purchased the platform, Twitter at the time of acquisition, for $44 billion last October. He has previously admitted to overpaying for it. Social Media Giant X Worth […]
Author: Lubomir Tassev
Judge Urges for SEC Decision on Planned Celsius Restart as Crypto Miner
America’s securities regulator has been urged to decide if it will approve a plan to transform Celsius Network into a bitcoin mining firm. The proposal seeks to repay customers of the bankrupt cryptocurrency lender with both crypto assets and stock in a new publicly traded mining entity. New York Judge Hopes for Expedited SEC Decision […]
Crypto Exchange Wants to See India Lower Tax on Trading
Indian government should lower a tax on crypto transactions as it’s not fulfilling its stated purpose, a local cryptocurrency exchange said. The company blames the levy, which was introduced last year, for driving Indian crypto trading volumes to overseas platforms. Indian Exchange Expects Government to Reduce Crypto Tax Burden Authorities in New Delhi imposed a […]
Deutsche Post Launches Crypto Stamp With AI-Generated Images of Historical Sites
Germans can now order a “crypto stamp” that will feature images of historical buildings rendered by artificial intelligence (AI). The stamp, to be released by Deutsche Post in November, is already available for pre-order and will come in both physical form and as a non-fungible token (NFT). Germany’s First NFT Stamp Shows an AI Interpretation […]
Trading Slump Wiped $12 Billion From Binance Founder’s Fortune, Bloomberg Says
Binance founder and CEO Changpeng Zhao (CZ) has reportedly lost nearly $12 billion from his wealth amid declining crypto trading volumes this year. According to Bloomberg’s estimates, the world’s largest trading platform for digital assets has seen a 38% decrease in revenues. Bloomberg Estimates CZ’s Wealth at Over $17 Billion in a Challenging Year for […]
South Koreans Fascinated With Altcoins More Than Americans, Research Shows
South Korean crypto traders are more inclined to invest in high-risk, high-reward altcoins than their American counterparts, according to a new report. The share of major cryptocurrencies like bitcoin and ethereum in the trading volumes on the largest Korean exchange is much smaller than the one registered on the leading U.S. exchange, the research indicates. […]
Binance Appoints New Regional Head for Eastern Europe and Central Asia
Binance’s General Manager for Central and Eastern Europe, Kyrylo Khomiakov, will take responsibility for Central Asia as well. His promotion comes after the crypto exchange’s top executives in the region left the company last month, part of a string of executive exits at Binance this year. Kyrylo Khomiakov to Manage Binance’s Business in 14 Markets […]
UK Issues Over 200 Alerts Against Crypto Firms Allegedly Breaking Promotion Rules
Britain’s Financial Conduct Authority (FCA) has issued hundreds of alerts regarding companies “illegally promoting crypto assets to U.K. consumers.” The regulator also highlighted several “common issues” with crypto promotions it has identified since it imposed stricter marketing rules earlier this month. U.K.’s Financial Watchdog Vows to Remove ‘Illegal’ Crypto Marketing Content Businesses that wish to […]
Investor Greed Increases Amid Bitcoin ETF Anticipation
With bitcoin trading higher amid rising anticipation of a spot bitcoin exchange-traded fund (ETF) approval in the U.S., investor moods have clearly shifted. The index measuring the balance between fear and greed emotions of participants in the crypto market entered the green zone of the scale this week. Crypto Fear and Greed Index Registers Bullish […]
Galaxy Expects Spot Bitcoin ETF to Push BTC Up by 74% in First Year
A spot-based bitcoin exchange-traded fund (ETF) would attract significant capital and boost the price of BTC by 74% in the first year after launch, according to Galaxy Digital. The estimate comes amid rising anticipation that the U.S. securities regulator will approve one or more of the proposals that are currently under review. Galaxy Digital Sees […]