https://t.me/CryptoMarketUpdates

2022-12-08 05:57:02 Crypto Tax Firm Koinly Lays Off 14% of Staff Amid Bear Market

UK-based crypto tax firm Koinly is letting go 14% of its global team, citing the need “to combat the challenging conditions facing the cryptocurrency market and economy at large.”.compounded by the collapse of the FTX crypto exchange last month.

Koinly isn't the only crypto firm to have slashed staff numbers amid the bear market, with cryptocurrency exchanges Bybit and Swyftx this week announcing job cuts of 30% and 35%, respectively. The move also follows a 225% expansion in Koinly’s headcount since the start of the year, which, according to the firm, was fueled by record growth.

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2022-12-07 08:55:03 Crypto taxes could bring in $2.5 billion for the EU, leaked draft suggests

European Commission proposal for taxing crypto estimates that taxes on crypto assets could raise as much as €2.4 billion ($2.5 billion), a leaked draft obtained by The Block suggests. The proposal, which is scheduled for adoption in the Commission this week.

Crypto service providers in the EU will need to report to national tax authorities, according to the draft, which defines crypto assets as those “issued in a decentralized manner, as well as stablecoins, and certain non-fungible tokens.” For rules to apply, a crypto asset must be used as means of payment or investment, with possible exceptions for “a limited network and certain utility tokens.”

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2022-12-06 08:54:02 Axie spikes 23.87% in 24 hours as community takes first step into decentralization

Axie Infinity’s community took its first step into evolving the project into a fully-decentralized future on Dec. 5, and the project’s native token, AXS, responded to the news by spiking 23.87% in the last 24 hours.said “following recent events, there is a dire need in the industry for additional transparency.”

According to CryptoSlate data, AXS spiked as high as $8.39 on Dec. 5. The token also recorded a 29.47% increase on a seven-day basis. At the time of writing, AXS is being traded for around $8.17. The increase also caused AXS to hit AltRank 1 among 4,023 coins in the market. responsible for making resourcing decisions around the Axie Infinity ecosystem.”.

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2022-12-05 07:04:02 Regulators face public ire after FTX collapse, experts call for coordination

Among all the ups and downs, one thing has remained clear — retail customers have lost a significant amount of money due to a lack of regulatory oversight. While lawmakers in the United States promised to bring crypto under regulatory purview many times this year, after every major crypto fallout like Terra and FTX.

The role of regulators has been heavily scrutinized in the wake of FTX’s collapse due to the close ties between former CEO Sam Bankman Fried and policymakers. Some reports indicate that eight congresspeople, five of whom received donations from FTX, tried to stop the Securities and Exchange Commission from investigating FTX. SEC for failing to come up with timely regulations.

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2022-12-04 09:50:02 MetaMask Co-Founder Wants to 'Dump' Apple, Calls iOS Purchase Tax 'Abuse'

MetaMask co-founder and ex-Apple employee Dan Finlay says he’s all in favor of the crypto industry ditching Apple’s App Store altogether, calling Apple’s 30% in-app purchase tax “an abuse of monopoly.”.Coinbase’s Wallet announced Thursday that its users would no longer.

MetaMask iOS app. In emailed comments to Decrypt, Finlay said: “As of now, Metamask remains on the app store but we will closely monitor the situation in the coming weeks and months to ensure our users continue to have unfettered access to their crypto assets.”Finlay also elaborated on his tweets regarding his feelings about Apple's new policies.

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2022-12-03 07:53:02 Sam Bankman-Fried’s still sorry, but now he says his memory isn't great

Former FTX CEO Sam Bankman-Fried regrets how he mishandled his troubled crypto exchange, but he doesn’t quite remember all the details. The disgraced crypto mogul spoke for almost two hours about the collapse of FTX during a Twitter Spaces event hosted by Mario Nawfal.

Bankman-Fried used the phrase “I don’t remember” at least 10 times during the interview, sidestepping questions about how he mishandled his crypto empire. He expressed regret for how his business imploded, saying he “wasn't on top of sh-t” and felt compelled to explain what went wrong. But some of the details that actually matter were fuzzy.

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2022-12-02 08:53:02 Ethereum's Ropsten testnet to fully shut down this month

The Ropsten network, a clone of the main Ethereum network that's used for testing and experimental purposes, will shut down by the end of this month. Between Dec. 15 and Dec. 31, node and infrastructure providers will halt Ropsten’s maintenance, Ethereum core developers noted.

Ethereum core developers will also sunset a second test network called Rinkeby in the middle of 2023. The team advised developers to migrate Rinkeby applications to either Goerli and Sepolia, which are test networks that will continue to be supported. Ethereum ecosystem, multiple testnets exist to allow developers to deploy applications.

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2022-12-01 08:39:02 FTX's LedgerX to free up $175 million for use in bankruptcy proceedings: Bloomberg

LedgerX, FTX Group's solvent subsidiary that also had to file for bankruptcy protection as part of the group, will make available $175 million for use in bankruptcy proceedings, Bloomberg reported Wednesday, citing people with knowledge of the matter.

The money could be transferred as soon as today and comes from a $250 million fund that LedgerX had set aside, as it aimed to get regulatory approval to clear crypto derivatives trades without intermediaries, per the report. LedgerX withdrew its application with the US Commodity Futures Trading Commission (CFTC) as FTX Group filed for bankruptcy on Nov. 11. FTX US had acquired LedgerX.

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2022-11-30 07:29:02 Qredo-incubated hybrid crypto exchange breaks cover: Exclusive

Qredo builds decentralized tools that help DeFi outfits with settlement, custody and shifting assets between blockchains. Its support for Ankex comes amid growing demand for decentralized services.

The Panama City-based Ankex aims to embody the benefits of both decentralized and centralized exchanges — namely, DeFi-style self-custody services combined with a superior user experience. Qredo said the company has an independent team and wants to “avoid hierarchies,” meaning that for now it has a number of unnamed contributors only.

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2022-11-29 21:38:24 RedLight Finance launch a Gasless Blockchain solving the blockchain trilemma.


Redlight Chain is a Layer 1 EVM-compatible blockchain with new capabilities.

Redlight Chain strives to solve the blockchain trilemma of scalability, decentralization, and security by optimizing gas-free blockchains. $REDLC is the governance coin of the Redlight blockchain, which innovates and adds new features to solve two significant obstacles: gas prices and congestion.


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