The Financial Accounting Standards Board (FASB) has approved rules for accounting for the fair value of companies’ cryptocurrency holdings, which will go into effect in 2025. Fair value is the estimated price of an asset that takes into account current market value and other decisive elements. The new accounting method will increase volatility in the […]
Genesis Global Capital (GGC), a bankrupt cryptocurrency lender, has filed two lawsuits against Digital Currency Group (DCG) and its affiliate DCG International Investments (DCIG) in the Southern District of New York Bankruptcy Court. The suits are seeking the repayment of overdue loans worth over $600 million in total. The complaint against DCGI states that GGC […]
Crypto exchange Binance has created an automated smart contract to reimburse users affected by the Xirtam rug pull. The exchange had previously frozen the suspected fraudulent funds in their account. Xirtam had raised around 1,909 Ether ($3.2 million) in user deposits in April through a series of funding rounds. However, project owners orchestrated a rug […]
SOMA Finance, a decentralized exchange for crypto and tokenized US equities, has announced the upcoming launch of the SOMA token, the first legally issued digital security open to US retail and global investors. SOMA tokens represent preferred stock in SOMA Finance, paying dividends of up to 10% of the company’s profits. The company was founded […]
Bitop Exchange, a leading digital financial service platform, has unveiled enhancements to its core products to better meet the needs of retail and institutional clients. The exchange is aiming to attract traders exploring investment options in commodities, stocks, spot and derivatives via a user-friendly platform. It has become licensed by the U.S. Securities and Exchange […]
Pikamoon (PIKA) is a hybrid meme coin and GameFi project that combines a refined play-to-earn metaverse game, its Pikaverse, and PIKA token equipped with the latest technologies and innovations. The project leverages features like the marketplace, in-game crypto rewards, deflationary tokenomics, and more, getting Pikamoon set to soar right from its ongoing presale. The presale […]
Coinbase, a publicly traded American cryptocurrency exchange, has launched a new lending offering called Coinbase Credit for institutional investors in the United States. The program seeks to fill the void created by bankrupt firms like BlockFi and Celsius Network, and customers of Coinbase’s institutional-based trading platform Prime have already invested up to $57 million in […]
Alexander Mashinsky, former CEO of the bankrupt cryptocurrency lender Celsius Network, had his assets frozen by a federal court in New York on August 16, 2023. The restraining order, which was made public on September 5, included several bank accounts and real estate owned by Mashinsky or entities under his control. The court found probable […]
Visa is taking a major step forward in digital financial transactions by incorporating the high-performance Solana blockchain into its USDC settlement framework. This move promises ultra-fast transaction confirmation, negligible transaction costs, exceptional throughput, and robust decentralization. To further expand the choice of settlement currencies to businesses worldwide, Visa has also announced new collaborations with merchant […]
Under India’s G20 presidency, discussions are underway to establish a global framework for cryptocurrencies. Indian Prime Minister Narendra Modi has called for global collaboration on formulating crypto regulations among G20 member states. India’s Minister of Finance Nirmala Sitharaman confirmed this during the Global Fintech Fest on Sept 5, noting that crypto is both a threat […]
