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  • Terra developers unveil 4-year plan to revive LUNA ecosystem

    Terra developers unveil 4-year plan to revive LUNA ecosystem

    Terra developers floated a new proposal earlier this week as they look to revive the once-mighty network. The new program would be funded with 9.5% of the total supply of LUNA tokens that was earmarked at the launch of a new Terra blockchain.

    The Terra Expedition is a four-year program aimed at growing the Terra ecosystem through a series of initiatives with three main objectives, namely: incentivizing developers to build on Terra, deepening liquidity on Terra and onboarding users to Terra.

  • Bitcoin whale moves 32K BTC dormant since 2018

    Bitcoin whale moves 32K BTC dormant since 2018

    According to Whalemap, 32,000 coins left their wallet for the first time since December 2018 this week. This amount of Bitcoin worth over $600 million.

  • Brazil’s largest digital lender Nubank to roll out own token to 70 million users in 2023

    Brazil’s largest digital lender Nubank to roll out own token to 70 million users in 2023

    Nubank, the largest Brazilian digital bank by market value, plans to release its own token next year in Brazil, Colombia and Mexico, the company announced Wednesday.

    The token – called Nucoin and built on Polygon – will be available for Nubank’s 70 million users in the first half of 2023, the company said in a statement, adding that it will be distributed freely and used to offer discounts and perks.

  • Tesla hangs onto all its remaining $218M in Bitcoin in Q3

    Tesla hangs onto all its remaining $218M in Bitcoin in Q3

    Electric vehicle manufacturer Tesla has made no further changes to its remaining stash of Bitcoin in the third quarter of 2022, despite nearly a $1 billion sell-off in the previous quarter.

    The company’s Q3 report released Oct. 19 shows $218 million worth of “digital assets” remains on its balance sheet, with no reported losses in the value of its holdings. Based on current prices, it’s estimated that Tesla still holds around 9,720 BTC.

  • Japanese regulators loosen crypto laws and make it easier to list coins

    Japanese regulators loosen crypto laws and make it easier to list coins

    The Japan Virtual and Crypto Assets Exchange Association, the governing body that deals with crypto assets in Japan, released documents of plans to further ease crypto laws in the country.

    The regulators could abolish the lengthy pre-screening process altogether, even for coins new to the market, by March 2024. This scenario could also include tokens issued through initial coin or exchange offerings, according to comments by Genki Oda, the association’s vice president.

  • IRS expands key US tax language to include NFTs

    IRS expands key US tax language to include NFTs

    The tax division of the Treasury Department released an updated draft for its 2022 instructions for form 1040 filers that swaps the old category for “virtual currency” with broader new language on “digital assets,” including an explicit recognition of NFTs.

    Hodlers may benefit from longer-term capital gains tax of 0%-20%. Traders who enter and exit more quickly could pay up to 37% tax, according to BeInCrypto.

  • Bitcoin whales at 3-year low, retail investors at ATH

    Bitcoin whales at 3-year low, retail investors at ATH

    Santiment classifies BTC investors holding between 100 to 10,000 as whales and outlined in a recent post that their possessions have been gradually decreasing for the past several months. These investors currently hold just 45.6% of the entire supply, a 3-year low.

    At the same time, the analytics company noticed a substantial difference in the behavior of retail investors (holding between 0.1 and 10 BTC). These investors, currently in possession of 15.9% of BTC’s available supply, reach an ATH.

  • France approves its third-biggest bank to operate digital asset services

    France approves its third-biggest bank to operate digital asset services

    Société Générale, France’s third-biggest bank by market cap, quietly obtained regulatory approval to operate as a digital asset service provider in the country.

    Founded in 1864 and with assets totaling more than €1.4 billion as of 2020, Société Générale is France’s third-biggest bank and the sixth-largest player in Europe in terms of its balance sheets.

  • Bitcoin makes its entry into the Guinness World Records

    Bitcoin makes its entry into the Guinness World Records

    In the latest edition of the Guinness World Records, under the “Cryptomania” section, Bitcoin earns the title from Guinness World Records as the first and most valuable cryptocurrency in the world.

    Bitcoin is now trading at $19,210 with a market capitalization of $368,383,920,607.

  • Binance reduces Terra Classic (LUNC) tax burn from 1.2% to 0.2%

    Binance reduces Terra Classic (LUNC) tax burn from 1.2% to 0.2%

    As reported by The Crypto Basic, the proposal to reduce the tax burn for all LUNC and USTC on-chain transactions from 1.2% to 0.2% was passed yesterday and will be implemented today.

    Based on this, Binance will also implement the changes for all LUNC and USTC deposits and withdrawals on its platform, reducing the consolidation fee for all Terra classic tokens to 0.2% from its previous parameter of 1.2%.