Crypto News Center

FTX sues Binance and ex-CEO Zhao, claims $1.8 billion fraudulent transfer

Home Business News FTX sues Binance and ex-CEO Zhao, claims $1.8 billion fraudulent transfer The lawsuit relates to Binance’s sale of its stake in Sam Bankman-Fried’s FTX, which it acquired in 2019 but then negotiated to sell back to FTX in July 2021. “By this lawsuit, the Plaintiffs seek to recover, for the benefit of FTX’s creditors, at least $1.76 billion that was fraudulently transferred to Binance and its executives...

Uniswap Layer 2 users increase 350% as Poodlana meme coin nears listing

Uniswap Layer 2 users have surged by 350%, but trading volume has dropped 39% since May. Poodlana’s presale has raised $6.3M, with the listing set for August 16 on Raydium. Poodlana’s token POODL is currently valued at $0.0499 with the price rising every 72 hours before listing. In a rapidly evolving crypto landscape, two key developments have captured the attention of the community. Uniswap’s Layer 2 (L2) user count has...

Trump Media is close to buying a cryptocurrency trading platform

In This Story President-elect Donald Trump’s social media company is reportedly in advanced negotiations to acquire the cryptocurrency trading platform Bakkt, according to a report by the Financial Times on Monday late afternoon. The publication cited two individuals familiar with the matter. Suggested Reading Trump's cabinet picks aren't ready to 'make nice' and that reality will set in soon, strategist says Suggested Reading The announcement had a dramatic impact on...

‘Crypto’-friendly Customers Bank hit with Fed Reserve enforcement action

The U.S. Federal Reserve has warned one of America’s last remaining ‘crypto’-friendly banks to improve its digital asset compliance or face the consequences. On August 8, the Federal Reserve Board announced the execution of an enforcement action against Customers Bancorp of West Reading, Pennsylvania and Customers Bank of Malvern, Pennsylvania. Customers Bancorp is the parent company of Customers Bank, which offers a “blockchain-based 24/7/365 digital payment solution” known as CBIT...

IRS Eases Crypto Tax Form Requirements with Latest 1099-DA Draft

You are here: Home / News / IRS Eases Crypto Tax Form Requirements with Latest 1099-DA Draft The United States Internal Revenue Service (IRS) has made significant updates to its crypto taxation form, 1099-DA, which is designed specifically for crypto brokerage accounts. This move is an important step in the overall strategy to organize and explain the procedure of reporting transactions relevant to a digital asset. On August 9, Ji...

Is A Bitcoin Sell-Off Coming? US Government Moves 10,000 BTC To Coinbase

As the Bitcoin price consolidates just below its all-time high of $99,540, a significant move by the US government has raised concerns among investors. The government has transferred a substantial amount of its seized Bitcoin holdings to Coinbase, potentially signaling intentions to sell. This echoes similar actions that had previously impacted the market earlier this year. US Government’s Bitcoin Transfer According to market intelligence firm Arkham, the US government moved...

Bitcoin Buying Pressure Rises, But Here’s Why A Pullback Could Be Coming

A recent analysis from BaroVirtual, a CryptoQuant analyst, offers a nuanced perspective on the current state of the Bitcoin market. According to the analyst, fluctuations in the Coinbase premium—a key metric that tracks the price difference between Bitcoin on Coinbase and other exchanges—can offer significant insights. Retail Leverage And Premiums: A Double-Edged Sword Rising or elevated Coinbase premiums typically suggest intense buying pressure, indicating strong medium-term sentiment for Bitcoin. However,...

EthOS launches hardware device for Ethereum on-chain dApp interactions

DBS Bank has launched “Token Services” to enhance blockchain solutions for clients. Key offerings of the ‘DBS Token Services’ include Treasury Tokens, Conditional Payments, and Programmable Rewards. The services optimize liquidity management and streamline operational workflows. DBS Bank, Singapore’s largest financial institution by assets, has launched a new suite of products called “DBS Token Services,” aimed at enhancing blockchain-based banking solutions for institutional clients. This innovative initiative integrates tokenization and...

Contractors need to rethink approaches to fire safety, say specialists

Construction firms need a deeper understanding of new building regulations and guidance, a specialist industry group has warned. Just days before the new standard of building design and fire safety is formally published, the Business Sprinkler Alliance (BSA) said there remained “widespread misunderstandings” on applying regulations. The group, which represents a coalition of fire safety professionals, said firms were too focused on meeting new guidance on high-risk residential buildings to...

The US Presidential transition explained: Documents, ethics, and the law

Home News World Updated - November 26, 2024 at 08:06 AM. | WASHINGTON The formal transition between President Joe Biden and President-elect Donald Trump remains stalled, with Trump yet to sign key documents required by the Presidential Transition Act.  A file photo of U.S. President Joe Biden meets with President-elect Donald Trump in the Oval Office at the White House in Washington, U.S., November 13, 2024. | Photo Credit: Reuters...