Animoca Brands, the parent body of The Sandbox metaverse, is planning to unveil a mega-fund of $2 billion (roughly Rs. 16,260 crore), dedicated to the metaverse business. The fund pool is intended to accelerate the development of immersive metaverse projects and create a genuine, active market.
Stripe has announced the launch of a ‘fiat-to-crypto’ service that would allow users to exchange their dollars for cryptocurrency, to help crypto firms process payments. This service will also task Stripe with handling KYC checks and compliance parameters for its crypto-centric userbase.
In a draft crypto law bill, Italy is planning to levy a 26 percent tax on crypto profits, exceeding over $2,000 (roughly Rs. 1.62 lakh). Once signed into a law, the proposed bill will allow tax-payers to bag some incentives by declaring their crypto holdings and paying a 14 percent tax.
FTX investors and trading firms who worked closely with the bankrupt crypto exchange have been asked by US authorities to hand over details on the company. The authorities are also asking for details of key figures at FTX, including Sam Bankman-Fried and Caroline Ellison. Meanwhile, the US Department of Justice’s bankruptcy watchdog has called for […]
The overall valuation of the crypto market dropped by 1.40 percent in the last 24 hours. Along with BTC and ETH, Cardano, Polygon, and Polkadot got struck with losses. Chainlink and Monero, meanwhile, emerged among the profit-making altcoins today.
Coinbase Global said on Thursday customers using Apple’s iOS will not be able to send non-fungible tokens (NFTs) on the cryptocurrency exchange’s wallet anymore. “Apple’s claim is that the gas fees required to send NFTs need to be paid through their In-App Purchase system, so that they can collect 30 percent of the gas fee,” Coinbase […]
South Korea’s Shinhan Bank has launched a metaverse site named ‘Cinnamon’, where people will be able to access an array of financial and non-financial services. Shinhan, which is an early investor in crypto custody services, ran a five-day-long test on its metaverse platform and reportedly garnered visits from over 85,000 people back in June this […]
India’s digital rupee CBDC went into retail trials on Thursday, December 1. The State Bank of India, ICICI Bank, Yes Bank, and IDFC First bank are the lenders that are participating in these trials, and upon completion, will testify if the CBDC is efficient and robust to use for day-to-day purchases.
At present, only 20 percent of Meta’s functional focus is on developing the hardware and software to support the metaverse ecosystem, Zuckerberg noted in a recent speech. Zuckerberg was speaking virtually at the New York Times DealBook Summit when he noted that his company needs to work more efficiently in order to finetune the metaverse […]
Bitcoin is artificially propped up and should not be legitimised by regulators or financial companies, the European Central Bank said, adding that it is similar to gambling. The cryptocurrency’s recent stabilisation was “an artificially induced last gasp before the road to irrelevance”, it said on Wednesday.