A bipartisan group of senators on Wednesday proposed a bill to regulate cryptocurrencies, the latest attempt by Congress to formulate ideas on how to oversee a multibillion-dollar industry that has been racked by collapsing prices and lenders halting operations. The regulations offered by Senate Agriculture Committee chair Debbie Stabenow and top Republican member John Boozman…
In yet another major cryptocurrency hack, the popular blockchain Solana on Wednesday reported that an unknown bad actor has drained funds from 7,767 wallets on the Solana Network. However, blockchain security firm SlowMist claimed more than 8,000 wallets had been drained worth around $8 million. Solana is a high-performance blockchain supporting builders around the world…
Cryptocurrency service Nomad has suffered a “chaotic” attack, with hackers draining almost $200 million in digital funds from the company within a few hours. In a tweet, Nomad said it is “working around the clock to address the situation and have notified law enforcement and retained leading firms for blockchain intelligence and forensics”. According to…
The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion.
The collapse in cryptocurrencies is easing supply of the most sought after watches on the second-hand market, depressing prices for hard-to-get Patek Philippe and Rolex models. The supply of trophy watches such as the Rolex Daytona or Patek Nautilus 5711A “is now much larger”, online-watch trading platform Chrono24 said in an emailed statement. The recent…
Cryptocurrency market capitalisation, in the week ending July 29, stayed above $1 trillion even as the US Federal Reserve (Fed) hiked its key interest rate by 75 basis points on July 27. Bitcoin has rallied over 10 per cent since Wednesday and Ethereum has jumped over 15 per cent. However, experts say the crypto market’s…
It’s not all doom and gloom. Even as the crypto sector shivers in the bleak winter, venture capitalists are pouring money into digital currency and blockchain startups at a pace that’s set to outstrip last year’s record. In the first half of the year, VCs bet $17.5 billion on such firms, according to data from…
/ — CoinSwitch, India’s largest crypto investing app, has waived off trading fees on bitcoin transactions on its platform for a limited period. All CoinSwitch.co users with fully-verified Know-Your-Client (KYC) and Indian Bank accounts can trade Bitcoin at zero fees in Indian Rupees for the offer period. Bitcoin is the largest crypto by market capitalization…
Regulations and restricted trading are among the solutions experts are debating for India’s cryptocurrency industry which is uncertain about its prospects after the Finance Minister last week said the central bank favours banning the digital asset.
Leading cryptocurrency exchange Blockchain.com has laid off 25 per cent of its workforce, nearly 150 employees, amid the global economic meltdown. The digital assets trading firm said it will shut its Argentina-based offices and halt its expansion plans globally, reports CoinDesk. Severance benefits ranging from four weeks to 12 weeks will be offered to those…
