Layer-1 blockchains: How crypto winter could slow the challenge to Ethereum

Given Ethereum’s dominance coupled with the current crypto bear market, it remains questionable if L1s will flourish. This was recently highlighted in a Chainalsys blog post entitled “New layer 1 blockchains are expanding the DeFi ecosystem, but no ETH killers yet.” Ethan McMahon, an economist at Chainalysis, told Cointelegraph that Chainalysis published this report to … Read more

Binance suspends Bitcoin withdrawals: CZ says funds are ‘SAFU’

Crypto’s Black Monday continues to wreak havoc. Changpeng Zhao, the CEO of crypto exchange Binance, tweeted that there would be a temporary pause on Bitcoin (BTC) withdrawals. Temporary pause of $BTC withdrawals on #Binance due to a stuck transaction causing a backlog. Should be fixed in ~30 minutes. Will update. Funds are SAFU. — CZ … Read more

Corporate evolution: How adoption is changing crypto company structures

Crypto-focused companies have come a long way since their beginnings in terms of corporate structure, employee motivation, decision-making systems, compliance and other aspects of their operations. While the early 2010s saw startups founded by small groups of crypto enthusiasts, the space has since grown to become home to large institutional businesses. Still, crypto companies are … Read more

Bitcoin Block Data Shows Top 5 Pools Retained Over 71% of the Global Hashrate Last Month – Mining Bitcoin News

During the last 30 days, the price of bitcoin has lost more than 22% against the U.S. dollar but during that time, Bitcoin’s hashrate has remained above 200 exahash per second (EH/s). While 16 known mining pools mined the leading crypto asset during the last month, the top five mining pools retained 71.4% of the … Read more

Top 30 Panama Bank is ‘Bitcoin friendly,’ welcomes crypto services

Panama’s path to crypto adoption is stepping up a gear. Towerbank, a Panamanian financial institution with over 200 employees and 40 years of banking experience, has declared itself Bitcoin friendly (BTC), paving the way for crypto accounts.  In a series of tweets and leaks from a blockchain meetup in Panama’s capital, Panama City the bank … Read more

Bitcoin Lightning Network capacity crosses 3900 BTC marking a new ATH

Unwithered by the ongoing bear market, Bitcoin’s (BTC) underlying architecture continues to outperform itself — further securing, decentralizing and speeding up the impenetrable peer-to-peer network. The same holds true for the Bitcoin Lightning Network (LN). The Bitcoin Lightning Network capacity attained an all-time high of 3915.776 BTC as evidenced by data from Bitcoin Visuals, displaying a commitment … Read more

Brazil’s Federal Revenue now requires citizens to pay taxes on like-kind crypto trades

Brazil’s Federal Reserve (RFB) has declared that Brazilian investors in the crypto-assets market must pay income tax on transactions that involve the like-kind exchange of cryptocurrencies; for example, Bitcoin for Ethereum. The RFB’s declaration was published in the Diário Oficial da União and was the result of a consultation made by a citizen of the … Read more

Thailand Exempts Crypto Transfers From VAT Until End of 2023 – Taxes Bitcoin News

Authorities in Thailand have formally introduced a value-added tax (VAT) exemption for transfers of cryptocurrencies through government-approved exchanges. The tax break, in force until the end of next year, will also apply to digital currency issued by the Bank of Thailand. Royal Decrees Enforce VAT Exemption for Crypto Trading in Thailand Investors moving cryptocurrencies and … Read more

Fed report finds most Americans who own crypto tend to be high income hodlers

The United States Federal Reserve Board has included data on cryptocurrency in its new Economic Well-Being of U.S. Households in the 2021 report. The Fed’s ninth annual report looked at survey results from 11,000 people questioned in October and November 2021.  The report indicated financial wellbeing is the highest it has been since reporting began, … Read more

NFT collectors sent $37B to marketplaces in 2022, nearly equaling 2021 already

Collectors of non-fungible tokens (NFTs) have already sent more than $37 billion in value to NFT marketplaces this year (as of May 1), a figure that nearly exceeds the total amount in all of 2021.  According to a report from Chainalysis, investors sent $40 billion worth of cryptocurrency to smart contracts associated with NFT collections … Read more