Author: NBTC
Key Points: The U.S. House of Representatives is set to vote on overturning Biden SAB 121, impacting how companies report digital assets. President Biden vetoed the repeal bill with concerns over financial stability and SEC regulatory oversight in the crypto sector. The U.S. House of Representatives is poised for a crucial vote this week on whether to overturn the SEC’s Staff Accounting Bulletin (SAB) 121, a guidance affecting how public companies report digital assets on their financial statements. House Vote on Biden SAB 121 Eleanor Terrett, reporting for Fox Business, indicated that the vote, requiring a two-thirds majority, is scheduled…
AxLabs has enhanced its Docker-based Neo3 private network deployment solution to support Windows, complementing its existing compatibility with Linux and MacOS. The tool aims to simplify the setup of a local development environment for builders on Neo, used when testing applications. Docker, a platform utilizing virtualization to run software in isolated environments known as containers, bundles applications with their dependencies. This approach ensures consistent software operation and testing across various hardware and operating systems. The neo3-privatenet-docker repository from AxLabs automates the entire process of building, configuring, and operating a private Neo network. The deployment includes a consensus node and two…
Bitcoin is showing the potential for a significant recovery, driven by recent ETF activities and price stabilization. According to SoSoValue, the Hong Kong Bitcoin Spot ETF saw a net redemption of 519.5 Bitcoins on May 13, bringing the total number of Bitcoins held to 3,560. This ETF has experienced net redemptions for three consecutive days, with a single-day turnover of $4.25 million and total net assets of $219 million. Meanwhile, the HK ETH Spot ETF holds 13,350 ETH. This trend of redemptions is not unique to Hong Kong; Bitcoin ETFs in Western markets are also experiencing similar patterns. While the…
Decentralized finance (DeFi) has its fair share of ‘forks,’ but rarely do they top the total value locked (TVL) charts. Linea, the zero-knowledge rollup ‘bootstrapped’ by Consensys, claims to be ‘home to the most innovative web3 projects.’ But its largest project, ZeroLend, is a seemingly low-effort fork of Aave, the widely-established lending protocol. As noted by X (formerly Twitter) user @majinsayan, ZeroLend’s mobile site until very recently even redirected to Aave’s own FAQ section. At $235 million TVL, ZeroLend accounts for over a third of the blockchain’s entire $667 million TVL, according to data from DeFiLlama. ‘Forking,’ common in DeFi,…
The Ethereum-based BUIDL fund from the leading asset manager BlackRock has gulped over $5 million in assets over the past week despite the ongoing market turbulence. Market analytics resource IntoTheBlock (ITB) revealed this in a recent disclosure, stressing that the fund has commanded considerable interest among investors. While the crypto market struggles, BlackRock’s $BUIDL fund, operating on the Ethereum network, continues to attract new investors. The fund requires a minimum entry of $5 million, and its total assets have now reached $491 million. pic.twitter.com/Bl19tVVxbW — IntoTheBlock (@intotheblock) July 8, 2024 Launched in March on Ethereum, the BlackRock USD Institutional Digital…
Since it started in earnest late last October, the ongoing crypto market rally has seen multiple well-executed trades that led to swift and impressive rags-to-riches stories. Recent weeks, in particular, have generated multiple moves leading to savvy cryptocurrency traders growing their investments hundreds of times over within hours, with new reports seemingly emerging every few days. The most recent of these took place on June 2 when one trader used 60 Solana (SOL) – at the time worth just under $10,000 – to purchase nearly 90 million of a fairly new cryptocurrency called HAPPY. Only 10 minutes later, the same…
Fantom Foundation announced a legal victory against Multichain following a judgment by the High Court of Singapore. The ruling came after a default judgment was issued against Multichain on Jan. 30, with an assessment of damages hearing held on June 3. During the June 3 hearing, the court heard evidence from Eli Bernstein, general counsel for Fantom Foundation, and Miao Gu, a valuation expert from Secretariat International. Notably, Multichain’s representatives were absent from the proceedings. In his judgment, Judicial Commissioner Faizal awarded Fantom $2.1 million for losses incurred. The judicial commissioner highlighted that the breach was enabled by Multichain’s leadership,…
Key Points: TON’s blockchain assets surged 1,400% this year, reaching over $1 billion, buoyed by its tie-up with crypto super app Telegram’s vast user base. Overcoming past SEC scrutiny, TON now implements stricter KYC/AML measures and has partnered with Tether for expanded payment solutions. Eyeing growth as a potential “super-app,” TON aims to secure a significant share of Telegram’s users by 2028 The Open Network (TON), linked to the crypto super app Telegram, has emerged as a standout performer in the cryptocurrency space this year, despite recent market volatility. TON Blockchain Surges Amidst Partnership with Crypto Super App Telegram TON…
Bitcoin maximalist Samson Mow, who is the former CSO of Blocktream and now the chief executive at Jan3, has published a tweet to take a jab at Ripple after its boss Brad Garlinghouse had stated that he believes the SEC is going after Tether now. Mow quoted the response issued by the Tether/Bitfinex CTO Paolo Ardoino to Garlinghouse to criticize Ripple not only for “spreading FUD” about Tether but also doing the same with Bitcoin earlier. Tether CTO responds to Brad Garlinghouse’s Tether statement During his recent appearance at the “World Class” podcast hosted by Chris Vasquez, the Ripple chief…
What are the next deadlines regarding crypto taxes in Italy? In reality, one has already occurred during 2024, but there are still others. The taxes on crypto in Italy: the imposta di bollo How to pay taxes on crypto capital gains in Italy The advances The exceedances The taxes on crypto in Italy: the imposta di bollo On June 30, the deadline for paying the stamp duty expired. Technically this crypto tax is not called stamp duty, but by now everyone calls it that. This is the so-called IVACA (tax on the value of crypto-assets), and indeed it had to…