The Internal Revenue Service said they plan to release guidance on having nonfungible tokens, or NFTs, treated as collectibles under the United States tax code. In a March 21 notice, the IRS called for feedback from the U.S. public on how NFTs could be taxed as collectibles. According to the […]

Private Swedish pension fund Alecta has sold its shares in First Republic Bank, the American bank struggling to stay afloat after a serious drop in share value, a bank spokesperson announced March 21. Alecta was the bank’s fifth-largest shareholder. Alecta took a loss in the deal after losing funds in […]

According to a blog post published by developers of crypto wallet ZenGo, the firm said it had uncovered security vulnerabilities in transaction simulation solutions used by popular decentralized applications, or dApps. Dubbed the “red pill attack,” this vulnerability allowed malicious dApps to steal user assets based on opaque transaction approvals […]

Self-custody cryptocurrency purchases are becoming easier in Nigeria as major crypto wallet MetaMask expands direct onramps with local banks. MetaMask’s parent firm ConsenSys announced on March 21 a new integration with crypto fintech MoonPay, enabling users in Nigeria to purchase crypto via instant bank transfers. The new feature is available […]

Cardano price is showing positive signs above $0.320 against the US Dollar, similar to bitcoin. ADA price could gain bullish momentum if it clears the $0.350 resistance. Cardano Price Analysis This past week, cardano price started a steady increase from the $0.3200 zone against the US Dollar. The ADA/USD pair […]

A central bank digital currency can impact monetary policy by increasing money velocity, disintermediation, volatility of bank reserves, currency substitution and altered capital flows, even when it is not designed to do so, according to a study published by the International Monetary Fund. The unintended impact of a CBDC may […]

Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.” On March 13, 2023, the search term “banking crisis” […]

On Mar. 20, GameFi project Gala Games announced it had recently filed a lawsuit against pNetwork, the cross-chain interoperability bridge used by Gala on the BNB Smart Chain. Last November, Gala Games was exploited after an unauthorized wallet address minted over $2 billion in GALA and dumped the tokens on […]

The crypto market has been facing a wave of regulatory changes in recent years, causing many crypto firms to reassess their operations and even exit certain countries altogether. The latest example of this trend is the announcement by crypto exchange OKX that it will be ceasing operations in Canada by […]

Silicon Valley Bank (SVB) boasted over $200 billion in assets and was a lifeline for crypto companies. Notably, it was one of the few institutions offering services to crypto companies in the United States as other banks shied away from the sector, fearing risk and the possibility of a sudden […]