Author: CryptoReporter

Cryptocurrency exchanges FTX, Binance and CrossTower are competing to acquire beleaguered crypto lender Voyager Digital’s assets out of bankruptcy, according to insider sources. According to details published by former investment banker and angel investor Simon Dixon, the three exchanges are competing in an auction to acquire Voyager Digital, and have each proposed their own terms and conditions for the acquisition. The details, which were also posted to Reddit, suggested that FTX and Binance have each proposed roughly $50 million in cash for Voyager’s assets, though Binance’s dollar amount is higher. The cash amount would go toward “deficiency and other claims,” the…

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It’s been nearly two weeks since Ethereum made its historic transition from proof-of-work to proof-of-stake, and some ex-ETH miners say they remain clueless on how to move forward. Following the Merge, many took to crypto Twitter to discuss what they believe will happen to these former Ethereum miners. On the day of the merge, Twitter user hashoveride tweeted: GPU #mining is dead less than 24 hours after the #merge.Here are the three largest #GPU chains and current daily profitability with a 3090 GPU and 6 us¢/kwh#ETC -7 ¢#XMR -37 ¢#RVN 2 ¢The only coins showing profit have no marketcap or liquidity.…

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XRP crypto has exponentially risen in price over the week soaring over 63% in value. The successful breakout has moved XRP up by one position and is now ranked #6 amongst other cryptocurrencies. Will XRP continue to pump? XRP is available on eToro.Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply.XRP Ripple Price Prediction 2022Zooming out on the XRP crypto price charts the recent pump has resulted in breaking through a critical level of resistance. At the time of writing this article XRP is trading at $0.45 and just lost a key support level of $0.51. The…

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The European Central Bank (ECB) needs a wholesale central bank digital currency (CBDC) because market players expect it, ECB executive board member Fabio Panetta told a banking symposium in Germany on Monday. Two options for wholesale CBDCs are currently under consideration. Wholesale CBDC is not a new concept, Panetta said. Eurosystem’s Target2 uses a centralized CBDC, strictly speaking. Target2 is a real-time gross settlement system in use since 2017 that also provides a securities settlement platform and an instant payment settlement service. Despite this, banks and financial market institutions continue to explore distributed ledger technology (DLT), Panetta said. The digitalisation of…

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Timothy Massad. Source: a video screenshot, TheStreet / YouTube Timothy Massad, former chairman of the Commodity Futures Trading Commission (CFTC) and a current research fellow at Harvard’s Kennedy School of Government, argued that regulatory progress on stablecoins can be made immediately by utilizing the current laws.Guesting on Bloomberg’s Odd Lots podcast, Massad discussed a stablecoin proposal he co-authored with two law professors, Howell Jackson and Dan Awrey, stating that they are “not sure [legislation] will happen,” and if it does, there is a question of how comprehensive it would be. “So what we’re saying is financial regulators today have the authorities they…

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Singapore’s largest bank, DBS, has announced another move to expand its crypto services while remaining cautious in complying with the financial authorities’ view that crypto assets are not suitable for retail investors in the country.On Friday, the bank disclosed its decision to expand crypto trading services on its digital exchange (DDEx) to approximately 100,000 “wealth clients who are accredited investors.” Investors who are considered accredited must meet certain criteria regarding their income, net worth, qualifications and understanding of financial markets.Caroline Malcolm, head of international public policy and research at Chainalysis, noted: “Singapore has long indicated that it views most crypto assets…

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Source: William F. Santos/UnsplashPolice and tax officers in Brazil have launched a major operation that has seen them raid six domestic crypto exchanges. They believe the platforms may be implicated in a massive international crime and money laundering ring.In a joint announcement, the Special Department of Federal Revenue of Brazil (known locally as the Receita Federal, or the federal revenue service agency) and the Federal Police Force, stated that the raids took place as part of what they are calling “Operation Colossus.”Officers explained that they believe some $380 million worth of dirty money has been laundered through domestic crypto trading…

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Source: AdobeStock / Vitalii VodolazskyiThe Internal Revenue Service (IRS) has received authorization from a U.S. district judge to sniff out individuals who attempt to sidestep taxes on their cryptocurrency transactions. The order comes at a time when digital asset adoption is seeing a surge, and the number of crypto tax evaders is subsequently increasing.A press release from the United States Department of Justice uncovered the development Thursday. Per the release, U.S. District Judge Paul Gardephe gave the IRS authorization to issue John Doe summons demanding information related to crypto tax evaders from full-service banking institution M.Y. Safra Bank.The move was announced by…

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On Sept. 26 the British Pound hit a record low against the U.S. dollar following the announcement of tax cuts and further debt increase to curb the impact of a possible economic recession. The volatility simply reflects investors’ doubts about the government’s capacity to withstand the growing costs of living across the region.The U.S. dollar has been the clear winner as investors seek shelter in the largest global economy, but the British Pound’s weakness could be net positive for Bitcoin. The GBP is the world’s oldest currency still in use and it has been in continuous use since its inception.Fiat…

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Russian President Vladimir Putin reportedly granted citizenship to United States National Security Agency whistleblower Edward Snowden, who had been residing in the country since 2013.According to a Monday report from Reuters, Putin signed a decree effectively changing Snowden’s legal status in Russia from permanent resident to citizen. The NSA whistleblower has been in exile from the United States following his leak of thousands of classified documents to journalists but continued to speak on issues including national security in addition to cryptocurrencies and blockchain technology.While Putin has taken legislative action in Russia that seems to curtail the use of crypto —…

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