Indian Crypto Trading Volumes Plummet After New TDS Tax Rule Takes Effect
Cryptocurrency trading volumes across exchanges in India have plunged after the country’s 1% tax deducted at source (TDS) went into effect at the beginning of the month. Some major crypto exchanges saw volumes dropping by about 80%. Crypto Trading Volumes Fall Across India The trading volumes across crypto exchanges in India have fallen sharply
World’s First Crypto Water Token Launches After Securing $150 Million Investment
A South Africa-based company wants to change the way the world funds water projects by leveraging blockchain technology and has received backing worth $150 million from an investor. H2O Water Securities has created the first crypto water token. The Water Network (H2ON) is designed to finance projects around the globe and solve the age-old
Troubled Vauld May Be Acquired and Come Under ‘Nexo Umbrella’
Source: AdobeStock / AndriiKovalSingapore-based crypto lender Vauld may get acquired by major crypto lender Nexo (NEXO).The news was announced by Vauld CEO Darshan Bathija today, stating that the exchange has signed “an indicative term sheet” with Nexo to buy “up to 100% of Vauld.”The CEO added that,“The completion of this transaction is pending
Crypto Lender Vauld Suspends Withdrawals, Company Is Discussing ‘Restructuring Options’ With Advisors
On July 4, the crypto lending company Vauld announced it suspended withdrawals, trading, and deposits after disclosing the firm is “facing challenges.” While not naming any specific companies, the Singapore-based cryptocurrency lending platform and exchange mentioned “financial difficulties” stemming from “key business partners.” Vauld Suspends Withdrawals Over ‘Financial Difficulties’ During the last 30 days, a
American Romantics Lose Nearly $200 Million to Crypto Scammers
Crypto scammers have Americans in their crosshairs as they continue to experiment with different types of scams. And a new report shows those in search of love have become the latest to fall victim. An analysis by Bankless Times revealed that U.S. citizens are increasingly falling prey to romance crypto scams, with losses reaching
Circle Denies USDC Trouble Rumors, Tether Supply Still Elevated on Curve
Source: Adobe/photo_gonzoCircle, the US-based payments company that issues the stablecoin USD coin (USDC), has denied that it is facing any sort of difficulty in maintaining the coin’s US dollar peg. Meanwhile, the supply of tether (USDT) coins on one of the most used stablecoin liquidity pools remains elevated.Writing in a Twitter thread on
Blockfi CEO Says FTX Has an ‘Option to Acquire’ Crypto Lender at a Price of up to $240M
According to Blockfi’s co-founder Zac Prince, the company has signed definitive agreements with the crypto firm FTX and the deal is currently up to shareholder approval. The deal represents a total of $680 million, but Prince also noted that $240 million of that total could be used to acquire Blockfi at a
Tether Shorters Amass While Crypto Investors Continue to Dump USDT
Tether short-sellers are building in numbers as investors dump liquidity, despite reassurances from the stablecoin firm that its reserves are fully-backed. A liquidity pool allowing swaps between the three biggest stablecoins Circle (USDC), Tether (USDT), and MakerDAO (DAI) indicated Friday that Tether reserves made up 65% of its composition, indicating that investors are anxious
‘More Work to Be Done’ as EU Imposes Strict New Crypto Regulations
Source: AdobeStock / Sergey KelinAfter the EU has reached an agreement on cryptoasset regulation that sets out strict rules for all actors in the crypto market, the crypto industry reminds itself that there's still "more work to be done."Rebecca Rettig, the general counsel for decentralized finance (DeFi) platform Aave (AAVE) and a board
NFT Sales Stave off Crypto Market Downturn This Week With a Slight Uptick in Volume
Non-fungible token (NFT) sales have managed to stay consistent this week while the crypto economy saw more losses over the last seven days. The week prior, $152.9 million in NFT sales were recorded across 18 blockchains and during the past week, $154.3 million in sales were executed. While Ethereum saw the most NFT