Meta Ending Crypto Project Novi After Mark Zuckerberg Unveiled Metaverse Digital Wallet

Post Views: 214 Meta Platforms, formerly Facebook, has announced the end of its crypto project Novi. Users are advised to withdraw funds as soon as possible. The announcement followed the introduction of a digital wallet for the metaverse, announced by Meta CEO Mark Zuckerberg. Facebook owner Meta Platforms Inc. (Nasdaq: META) announced Friday that its…

Tax Agency Starts Checking Crypto Traders in Romania

Post Views: 204 Authorities in Romania are going after investors who failed to report revenues from crypto trading and pay tax. The offensive is part of efforts to respond to financial trends, the country’s tax body said in a statement, unveiling it was able to identify almost €50 million of undeclared crypto gains. The checks…

Ethereum Transfer Costs Continue to Slide — Network Fees Tap a 19-Month Low

Post Views: 188 On Saturday, Ethereum transaction fees tapped a low not seen since November 2020 as the average network fee dropped to 0.0016 ether or $1.67 per transfer. Average fees on Saturday have been as low as 32 gwei or $0.69 per transfer as Ethereum gas fees have been steadily dropping since May 11,…

Report: Huobi to Start Layoffs That Could ‘Exceed 30%’ — Founder May Sell Stake in Company

Post Views: 232 According to the Chinese journalist Colin Wu, otherwise known as “Wu Blockchain,” the cryptocurrency company Huobi may lay off 30% of the firm’s staff due to “a sharp drop in revenue.” Furthermore, the reporter claims that Huobi’s co-founder Leon Li is reportedly looking to sell a large stake in the digital assets…

Biggest Movers: ATOM up for Fourth Straight Session, While XTZ Rebounds on Saturday Low

Post Views: 248 Cosmos rose for a fourth consecutive session to start the weekend, as prices edged closer to a resistance point. While cosmos (ATOM) extended gains, tezos (XTZ) rebounded following a streak of recent losing sessions, with bulls seemingly buying this weeks’ dip. Cosmos (ATOM) extended its recent bullish run on Saturday, as prices…

Report: Embattled Crypto Hedge Fund Three Arrows Capital Files for Chapter 15 Bankruptcy

Post Views: 197 The troubled crypto hedge fund Three Arrows Capital Ltd., otherwise known as 3AC, has filed for bankruptcy according to recent court filings. The court papers show 3AC is aiming for an ancillary Chapter 15 proceeding so liquidators and creditors cannot seize the firm’s U.S. assets. The JPMorgan executive added that “Indicators like…

BTC’s Lower Price Shrinks Bitcoin Mining Profits, Hashrate Remains Unaffected

Post Views: 203 While bitcoin’s fiat value has dropped more than 70% below the all-time high recorded in November 2021, the price reduction has made it so miners are making fewer profits depending on the devices they operate. Despite miner profits sliding, Bitcoin’s hashrate has remained high coasting along at 180 exahash per second (EH/s)…