FTX founder SBF said that filing for bankruptcy was a mistake as the exchange had $4 billion liquidity 8-minutes after filing for Chapter 11. The founder of crypto exchange FTX, Sam Bankman-Fried, has been appearing on Twitter sporadically and is scheduled to speak at the New York Times’ annual DealBook Summit on Wednesday, November 30….
According to the BIS study, an increase in Bitcoin’s value leads to more involvement from retail investors, which subsequently causes a decrease in the price when it falls. The Swiss-based Bank of International Settlements (BIS) recently surveyed retail investors on how they use crypto exchange apps. They found that a wide majority–one third–of those surveyed…
In an unexpected announcement, India stated that it plans to introduce its digital currency next year and tax cryptocurrencies and NFTs. According to Nirmala Sitharaman, the country’s finance minister, any income generated from the transfer of virtual assets will be taxed at 30%. She also suggested that a 1% tax deduction should be made on…
Speaking of Banker coins, Ripple recently announced that it will be developing a side chain for XRP that leverages the Ethereum virtual machine or EVM for smart contracts. In case you haven’t noticed EVM support has sent many Ethereum competitors to the Moon in the past including Harmony and Phantom XRP. Having an EVM sidechain…
Anyways another crypto project that’s been making the headlines lately is Chain Link which recently partnered with Swift. For context Swift is a messaging system used by over 11 000 banks around the world, this means that Swift is basically the backbone of the existing Financial system. Chain Link’s partnership with Swift will see the…
The U.S. Department of the Treasury’s Office of Foreign Assets Control, or OFAC, sanctioned Tornado Cash in August 2022 after it reportedly processed over $500 million from several online hacks and heists. Mixing services like Tornado Cash blend cryptocurrency funds together to make their sources harder to trace — facilitating money laundering activities associated with…
Even with all its flaws the crypto industry is still exponentially more honest and moral than central banking whose fiat currency systems have been the root causes of unquantifiable pain and suffering since they were first established in the 1600s starting with the bank of Amsterdam. This is because being able to print money out…