Crypto News
Terra’s LUNA is Among the Top Ten Cryptocurrencies With a Sharp 32% Bounce Back
After a massive correction and bloodbath on late Friday, December 3, the crypto market is showing signs of recovery. However, the fastest to recover has been Terraform Labs’ native cryptocurrency LUNA.
coingape.com
Russia, Ukraine Shut Down Several Cryptocurrency Farms
Authorities in Russia and Ukraine have closed down a number of illegal crypto mining facilities allegedly powered by stolen electricity. The underground farms have been discovered around the capital cities, Kyiv and Moscow, as well as in the Russian republic of Dagestan.
bitcoin.com
Bitmart hacked for $200M following Ethereum, Binance Smart Chain exploit
Crypto exchange Bitmart lost nearly $200 million in a hot wallet compromise hosted over the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains.
cointelegraph.com
Hedge or no hedge: investors’ debate over Bitcoin and gold continues
As the American economy grapples with labor and supply shortages, the country’s central bank declared that “the risks of higher inflation have moved up.” And once again, the question of cryptocurrencies such as Bitcoin providing investors with a hedge against rising inflation is up for debate.
ambcrypto.com
FTX releases regulation proposals’ list, as Financial Committee meeting draws near
The cryptocurrency industry in the U.S is reeling under intense regulatory scrutiny and uncertainty. Market participants have been waiting with bated breaths for financial authorities to release a regulatory framework. To that objective, Bahamian-based cryptocurrency exchange FTX released a list of principles and proposals to help policymakers build the regulatory framework.
ambcrypto.com
Virtual Land Adjacent to Snoop Dogg's Sandbox Estate Sells for $450K in Ethereum
The popular American rapper Snoop Dogg revealed at the end of September that he acquired land in the blockchain-based virtual metaverse The Sandbox and had plans to recreate his mansion. On December 2, The Sandbox held a “Snoopverse Land Sale,” which allowed participants to purchase land adjacent to the famous hip hop star’s virtual estate.
bitcoin.com
Popular Metaverse Altcoins See $100,000,000 Worth of Virtual Real Estate Sales in One Week: Report
Virtual real estate is booming in the metaverse as popular altcoins saw millions of dollars in land sales over seven days.
dailyhodl.com
Things to know (and fear) about new IRS crypto tax reporting
The Infrastructure Investment and Jobs Act (H.R. 3684) put crypto in the crosshairs, where Congress and the Internal Revenue Service (IRS) hope to scoop up enormous tax dollars. This reporting regime is projected to rake in an astounding $28 billion over the next ten years. No other provision in this massive recently enacted federal law is supposed to produce tax dollars that are even close. If you don’t think that means the IRS is coming for your crypto in a very big way and that Congress is trying hard to facilitate it, think again.
cointelegraph.com