NFT Sales Plummet Amid Ongoing Crypto Market Meltdown

The NFT dream isn’t dead, but it’s taken a big non-fungible beating. The market shone gloriously last year as crypto-rich speculators spent billions of dollars on the risky assets, pumping up prices and profits. Now, six months into 2022, it’s looking ugly. Monthly sales volume on the largest NFT marketplace, OpenSea, plunged to $700 million […]

Crypto Trading Volumes in India Take a Hit Following TDS Rule Enforcement

Indian crypto exchanges have recorded a nosedive in trading volumes after the one percent TDS rule on each transaction went live on July 1. The average daily transaction volume on Indian exchanges WazirX, CoinDCX, BitBNS, and Zebpay reportedly dipped to $5.6 million (roughly Rs. 44 crore) in the last few days. Up until June, this […]

India’s Position on Crypto Said to Be Vindicated Amid Market Downturn

India’s conservative position on not encouraging cryptocurrency is being rapidly vindicated by the negative experiences of various crypto funds with the latest being Singapore’s Three Arrows crypto fund. Experts say that India correctly predicted the adverse economic headwinds and perhaps saved a lot of people from economic ruin. Last week, Singapore-based crypto hedge fund, Three […]

Hacked Solana-Based Crema Finance Loses Crypto Worth $8.78 Million

Crema Finance, a Solana blockchain-based liquidity protocol, lost a big chunk of crypto assets after being breached in a hack attack over the weekend. Crypto assets worth $8.78 million (roughly Rs. 69 crore) were leaked out of Crema Finance after the hacker(s) deployed a smart contract and used it to lend a flash loan and […]

Celsius Fires 25 Percent of Work Force Amid Crypto Slump: Report

Celsius Network, a cryptocurrency lending platform based in the US, has become the latest entrant in the list of crypto firms that are having to fire their employees in order to make it through the ongoing crypto slowdown. The company, headquartered in New Jersey, US, has reportedly fired a quarter of its staff, making for […]

Crypto Lender Vauld Suspends Withdrawals: Here’s Why

Vauld, a Singapore-based crypto trading and lending platform with most of its team in India, has become the latest crypto firm to halt customer withdrawals amid the unforgiving market din. CEO Darshan Bathija said in a blog post on Monday that the firm has “made the difficult decision to suspend all withdrawals, trading and deposits […]

What You Need to Know About Crypto, NFT Laws in India

Over the last few months, there have been many discussions (and a lot of confusion) around crypto tax in India. In this post, I will briefly explain all the laws that apply to cryptocurrencies in India. Before we begin, let’s quickly understand what Non-Fungible Tokens (NFTs) are. NFTs are digital proof-of-ownership of an underlying asset […]

Crypto Lender Voyager Digital Suspends Trading, Deposits to Its Platform

Crypto lender Voyager Digital said on Friday it has suspended withdrawals, trading and deposits to its platform and said it is exploring strategic alternatives to preserve the value of its platform. The move comes days after the company issued a default notice to embattled hedge fund Three Arrows Capital (3AC) for the fund’s failure to […]

Tether Announces to Reduce Commercial Paper Holdings Amid Crypto Gloom

Tether, the world’s largest stablecoin, said on Friday it had cut its commercial paper holdings by around 58 percent as part of an earlier commitment to reduce its exposure to riskier assets. Stablecoins — a variety of cryptocurrencies designed to keep a steady value — are in sharp focus after the collapse of the TerraUSD […]

‘Crypto Queen’ Ruja Ignatova Added to FBI’s Top Ten Most Wanted List

Ruja Ignatova, the Bulgarian mastermind behind the infamous “One Coin” ponzi scheme, has been added to the US Federal Bureau of Investigation’s (FBI’s) Ten Most Wanted list. Ignatova, who is also known as the self-appointed “crypto queen,” has been accused of scamming her victims out of $4 billion (roughly Rs. 31,580 crore) with her fraudulent […]

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