This Is What Happened In The Cryptocurrency World Today: 05/04/2023
Stay up-to-date with the latest cryptocurrency news and developments. Read about what happened in the cryptocurrency world today and stay informed about the current state of the market.
MicroStrategy purchases another 1,045 bitcoin for $23.9 million, bringing the company’s total holdings to 140,000 bitcoin worth approximately $4 billion.
Business intelligence firm MicroStrategy has recently purchased 1,045 Bitcoins for $23.9 million, according to a company filing with the Securities and Exchange Commission (SEC). With this latest acquisition, the company now holds a total of 140,000 Bitcoins, which are currently valued at approximately $4 billion.
This purchase aligns with MicroStrategy’s strategy of investing in Bitcoin as a treasury reserve asset, a decision the company made last year. Since then, MicroStrategy has continued to purchase Bitcoin regularly to maximize its long-term value.
MicroStrategy’s CEO, Michael Saylor, has been a vocal proponent of Bitcoin and called it “digital gold.” He believes that Bitcoin is a haven asset that can protect against the inflationary pressures of fiat currencies.
The Dubai government, according to Bloomberg, has requested more information on Binance’s ownership structure, governance, and auditing procedures.
Dubai’s government has asked for further details on Binance’s ownership structure, governance, and auditing procedures. The request comes amid a growing crackdown on cryptocurrency exchanges and platforms as authorities worldwide seek to regulate the rapidly evolving digital asset space.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has recently faced increased scrutiny from regulators. The company has been accused of operating without the necessary licenses in several countries, including the United States and the United Kingdom.
The Dubai government’s request for more information on Binance’s operations is part of a broader effort to ensure cryptocurrency exchanges comply with local laws and regulations. In addition, the government is seeking greater transparency and accountability from Binance and other cryptocurrency platforms operating in Dubai.
Trust Wallet has partnered with MoonPay and Ramp to allow customers to convert their cryptocurrency to fiat currency without using a centralized exchange.
Trust Wallet, a popular mobile wallet for cryptocurrencies, has announced partnerships with MoonPay and Ramp, enabling users to convert their digital assets into fiat currency without relying on a centralized exchange. This move further strengthens Trust Wallet’s commitment to offering its users a decentralized and secure platform for managing their crypto assets.
Through the partnership with MoonPay and Ramp, Trust Wallet users can now buy, sell, and exchange various cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin, among others, using their credit or debit cards. In addition, integrating with MoonPay and Ramp provides a seamless and secure conversion process, allowing Trust Wallet users to quickly and easily convert their crypto assets to fiat currency.
By integrating with these partners, Trust Wallet provides its users with a simple and convenient way to manage their digital assets while upholding its commitment to decentralized finance. This partnership also reinforces Trust Wallet’s position as a leading mobile wallet in the crypto industry.
OpenSea Introduces OpenSea Pro to Assist High-Volume NFT Traders in Transaction Management.
OpenSea, the largest NFT marketplace, has launched a new platform called OpenSea Pro to help high-volume NFT traders manage their transactions. The platform provides advanced trading tools, including a customizable dashboard, real-time market data, and analytics, to help traders make informed trade decisions. It also offers features such as batch order management, automated buy/sell orders, and API access to enable streamlined trading at scale. OpenSea Pro aims to address the growing demand for professional-level trading tools as the NFT market expands rapidly. The platform is designed to cater to the needs of both individual and institutional traders, making it easier for them to manage their NFT portfolios and take advantage of trading opportunities in real time. The launch of OpenSea Pro is expected to further boost the adoption of NFTs as a mainstream investment asset class.
Fabian Vogelsteller, the creator of Ethereum’s ERC-20 token standard, is launching LUKSO, a new layer one blockchain for creative people.
Fabian Vogelsteller, the renowned blockchain developer who invented the ERC-20 token standard, is launching a new layer one blockchain platform called LUKSO. The platform aims to cater specifically to creative individuals, such as fashion designers, artists, and musicians, providing them with a secure and decentralized environment to showcase and monetize their creations.
LUKSO is designed to enable developers to build decentralized applications (dApps) that can be used across multiple industries, including fashion, gaming, and e-commerce. It will also allow for the creation and management of non-fungible tokens (NFTs), which have recently gained immense popularity in the art world.
According to Vogelsteller, LUKSO will offer a unique value proposition by combining the scalability of layer two solutions with the security and decentralization of layer one blockchains. In addition, the platform will utilize a proof-of-stake consensus mechanism, enabling faster transaction speeds and lower energy consumption.
According to a recent Bloomberg report, almost no one paid taxes on their cryptocurrency gains in 2022.
Despite increased regulatory scrutiny and warnings from tax authorities worldwide, most cryptocurrency investors have neglected to report their gains or losses on their tax returns. The report suggests this could be due to a need for more clarity around cryptocurrency taxation and a reluctance to disclose personal financial information to government authorities. However, with tax authorities becoming more sophisticated in tracking cryptocurrency transactions, investors who fail to report their gains could face stiff penalties and legal consequences. As the cryptocurrency market grows and evolves, taxation will likely become an increasingly important issue for investors and regulators.
PostFinance, a Swiss government-owned bank, will begin offering cryptocurrency to customers.
PostFinance, a Swiss government-owned bank, has announced that it will soon allow its customers to buy, sell, and store cryptocurrencies. The bank will initially offer Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. This move comes as demand for cryptocurrencies grows and traditional financial institutions seek to diversify their offerings. PostFinance has said it will ensure that its crypto services comply with Swiss regulations, including the country’s Anti-Money Laundering Act. The bank has also prioritized security measures, such as multi-signature wallets and cold storage for customers’ crypto assets. The announcement follows similar moves by other Swiss banks, such as Julius Baer and Swissquote, which have already entered the crypto market. PostFinance’s decision to offer crypto services will further boost Switzerland’s reputation as a hub for innovative and forward-thinking financial services.
Binance, according to Coindesk, has no interest in acquiring Huobi because of its rumored ties to China.
Binance, one of the world’s largest cryptocurrency exchanges, has reportedly shown no interest in acquiring its rival Huobi due to its rumored ties to the Chinese government. According to an article by CoinDesk, a source close to Binance has claimed that the exchange’s CEO, Changpeng Zhao, is not interested in acquiring Huobi, despite the latter’s relatively low market share and struggling financials.
The rumors surrounding Huobi’s ties to the Chinese government have persisted for some time, with the exchange reportedly facing regulatory scrutiny in China. While Huobi has denied any official ties to the government, the speculation has led to concerns among potential buyers and investors.
Despite this, Binance has reportedly been pursuing other acquisition opportunities, with the exchange recently acquiring the popular crypto data tracking site CoinMarketCap. The move was seen as a strategic play by Binance to expand its reach and influence in the crypto market, which has seen significant growth in recent years.
The Binance Smart Chain main net has announced a “Planck” hard fork upgrade, which will take place on block height 17,986,000.
The upgrade will significantly improve the blockchain’s performance, security, and overall user experience. Planck will introduce several new features, including gas optimizations, improved virtual machine performance, and enhanced cross-chain communication capabilities. The upgrade is part of Binance’s ongoing efforts to provide its users with a reliable and efficient blockchain ecosystem supporting a wide range of decentralized applications. Binance has advised users to upgrade their nodes to the latest version of the Binance Smart Chain client in preparation for the hard fork. The Planck upgrade is expected to go live on April 7, 2023, and users can expect minimal disruptions to their transactions during the upgrade process.
Unexpectedly, a wallet containing 1,215,614 Dogecoin that had been inactive for nearly a decade suddenly became active.
The wallet was first created in 2012 but remained dormant until recently when it was suddenly reactivated. This news has sent shockwaves throughout the Dogecoin community, with many speculating on the reasons behind the sudden activation of the wallet. Some speculate that the wallet’s owner might be planning to sell their holdings, while others suggest that the wallet might belong to a long-lost investor who is now returning to the cryptocurrency market. Whatever the reason, this development will almost certainly have an impact on the overall value of Dogecoin, which has seen a surge in popularity in recent months. As always, the cryptocurrency market remains unpredictable, and it will be interesting to see how this story develops in the coming weeks.
Binance allows Argentinians to purchase cryptocurrency using their local currency.
Binance, one of the world’s leading cryptocurrency exchanges, has announced that it now allows Argentinians to purchase cryptocurrencies with their local currency, the Argentine peso. This move is part of Binance’s ongoing efforts to expand its services and make buying and trading cryptocurrencies easier for people worldwide.
By enabling Argentinians to use their local currency to buy crypto, Binance is providing a more accessible and convenient way for people in the country to invest in digital assets. Previously, Argentinians had to convert their pesos into US dollars or other fiat currencies before they could buy cryptocurrencies on the Binance platform.
The new service is expected to help increase the adoption of cryptocurrencies in Argentina, which has been facing economic challenges in recent years. Binance’s move also underscores the growing interest in cryptocurrencies as an alternative investment option for people worldwide.
Tether was accused of using a loophole to gain access to the US banking system through a signature bank.
Tether, the issuer of the popular stablecoin USDT, has been accused of exploiting a loophole to gain access to the US banking system through its banking partner, Signature Bank. The allegations were made by a report from Bloomberg, which claimed that Tether had used its relationship with Signature Bank to access the Federal Reserve’s payment system, which is meant to be restricted to domestic banks. The report cited anonymous sources and internal documents, which suggested that Tether had bypassed the restrictions by using a private banking channel provided by Signature Bank. The accusations have raised concerns about the transparency and regulatory compliance of Tether, which has been dogged by controversy over its backing and management practices. Tether denied any wrongdoing and said it fully complies with all applicable laws and regulations.
The United Kingdom’s High Court has dropped contempt of court proceedings against Craig Wright, the founder of Bitcoin SV, due to a lack of evidence and disputed facts (BSV).
The case was related to a copyright infringement lawsuit filed by the estate of Dave Kleiman, a computer forensics expert and allegedly a partner of Wright in the creation of Bitcoin. The case claimed that Wright had stolen Bitcoin assets worth billions of dollars from Kleiman after his death. The contempt of court proceedings was initiated because Wright failed to provide the court with information regarding his Bitcoin holdings. However, the judges stated they needed to be equipped to proceed with the case due to the disputed facts and lack of reliable evidence. Wright’s legal team welcomed the decision, while the Kleiman estate’s legal representatives said they would consider an appeal.
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