Telo News - Crypto | DeFi | Web3

02 Sep 2024 13:16

The Crypto Fear & Greed Index dropped from 55 last week to 26 as Bitcoin fell to $57k levels.

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Telo News - Crypto | DeFi | Web3

01 Sep 2024 23:00

✔ This week's crypto market highlights:

⚫India investigates Telegram
⚫Celsius distributes $2.5bn to creditors
⚫Pavel Durov's full history in France before arrest
⚫OpenSea receives Wells Notice
⚫Pavel Durov released from custody
⚫Apple might invest in OpenAI
⚫Kamala Haris proposes $5tn tax increase
⚫Telegram's financial statements revealed
⚫Brazil bans X

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Telo News - Crypto | DeFi | Web3

30 Aug 2024 18:20

Telegram's 2023 financial statements were revealed. The reports reveal that over 40% of Telegram's $342.5m revenue came from crypto transactions, with digital assets like Toncoin playing a significant role.

Additional key metrics include:

⚫$342.5m in revenue for 2023
⚫$108m operating loss
⚫$958.2m in total assets
⚫Nearly $400m in digital assets held
⚫$2.3bn raised through convertible bonds
⚫$64m worth of Telegram bonds purchased by Durov in 2023

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Telo News - Crypto | DeFi | Web3

30 Aug 2024 14:55

Kamala Harris has proposed a $5tn tax increase with the following key changes:

⚫Taxing unrealized capital gains at 25% from investments and property, making Americans owe taxes on gains that haven't been realized yet.
⚫Raising the corporate tax rate to 28% from 21%, making American businesses among the highest taxed in the developed world, potentially leading to lower wages and higher prices.
⚫Increasing the top personal income tax rate to 44.6%, impacting high earners and potentially reducing overall investment.

These tax proposals have ignited a heated debate on social media, with many concerned about their potential impact on both the U.S. economy and the cryptocurrency market.

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Telo News - Crypto | DeFi | Web3

30 Aug 2024 12:19

X is closing its San Francisco, California headquarters on September 13th.

Elon Musk previously cited concerns over crime, taxes, and regulations, with the final catalyst being Governor Gavin Newsom's law banning parental notification requirements for transgender students.

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Telo News - Crypto | DeFi | Web3

30 Aug 2024 10:33

The U.S. House Financial Services Committee will hold several crypto-focused hearings in September, covering DeFi, SEC enforcement, and “pig butchering” scams.

SEC Chair Gary Gensler is set to testify on September 23.

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Telo News - Crypto | DeFi | Web3

30 Aug 2024 09:44

Australia ranked #1 in Bitcoin ATM growth globally, expanding around 16.5x from 73 machines two years ago to nearly 1,200.

In 2023, Australia ranked #4, with just 225 machines at the time.

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Telo News - Crypto | DeFi | Web3

29 Aug 2024 21:58

Apple is in discussions to invest in OpenAI, joining a new funding round that could value the ChatGPT creator at over $100bn. This move would deepen Apple's involvement in the AI space, following its recent partnership with OpenAI on Apple Intelligence.

The funding round, led by VC firm Thrive Capital, is expected to include several billion dollars, with Microsoft also anticipated to participate.

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Telo News - Crypto | DeFi | Web3

29 Aug 2024 10:24

Eric Trump announced the official launch of a DeFi project called “World Liberty Financial” (WLFI).

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Telo News - Crypto | DeFi | Web3

29 Aug 2024 07:41

Telegram founder Pavel Durov has been released from custody on €5m bail, which comes with stringent conditions.

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Telo News - Crypto | DeFi | Web3

29 Aug 2024 06:55

U.S. Vice President Kamala Harris' economic advisor, Bharat Rama, confirmed her plan to tax unrealized gains by a minimum of 25% for individuals with at least $100m in assets.

Rama asserts that people already pay taxes on unrealized gains, such as property taxes, but was challenged by CNBC hosts who noted that home values do not move the way stocks do and that property taxes are a "use tax," utilized for improvements like schools and emergency services.

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Telo News - Crypto | DeFi | Web3

28 Aug 2024 22:02

💡💡💡
France officially indicted Telegram founder Pavel Durov and placed him under judicial supervision with the obligation to post bail of 5m euros, to report to the police station twice a week, and a ban on leaving French territory.

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Telo News - Crypto | DeFi | Web3

28 Aug 2024 15:10

Pavel Durov's preliminary detention has expired. He was released from police custody and taken to court, where special barriers have been set up outside, gates closed, and a police cordon established.

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Telo News - Crypto | DeFi | Web3

28 Aug 2024 11:22

Six years before Pavel Durov’s arrest, the Telegram founder was in a very different position in France: having lunch with President Emmanuel Macron.

⚫In 2018, Pavel Durov was invited by President Macron to move Telegram to Paris, which Durov declined. He eventually based Telegram in the UAE.

⚫Durov has had a complex relationship with governments worldwide, which have attempted to both woo and control him, often failing at both.

⚫French spies targeted Durov in a joint operation with the UAE, code-named “Purple Music,” that hacked his iPhone, back in 2017, the year before the meeting with Macron.

⚫️Compromising Telegram had been a long-term effort of the French spy service.

⚫France and the UAE granted Durov citizenship in 2021. The UAE invested more than $75m into Telegram that year. Durov also has citizenship in St. Kitts and Nevis, a Caribbean island nation that offers it to those who can pay.

⚫French passport allowed him to move freely in Europe. When he traveled to the U.S., he was always greeted by FBI agents at the airport and elsewhere, trying to obtain his cooperation.

⚫French prosecutors said they haven’t named Durov or anyone else as a target in their investigation.

⚫️Telegram says it now complies with the EU’s Digital Services Act.

⚫️A French law signed this year requires online platforms to cooperate with authorities in rooting out such content, aligning with the EU's Digital Services Act, which imposes stricter monitoring and enforcement on "very large" online platforms. Telegram said this week that it is still below the threshold of 45m active monthly users in the bloc to be considered very large.

1st image: France’s national antifraud of office outside Paris, where Durov is being held now.
2nd image: Paper airplanes distributed in reference to the Telegram logo outside France’s Embassy in Moscow after Pavel Durov’s detention by French authorities.

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Telo News - Crypto | DeFi | Web3

28 Aug 2024 10:34

Australians lost $259m in investment scams, with 47% involving crypto, totaling $122m in crypto losses in 12 months.

The two common methods being used are pig butchering and deepfake technology.

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Telo News - Crypto | DeFi | Web3

02 Sep 2024 10:14

Coinbase's CLO, Paul Grewal, criticized the SEC for its recent warning against FTX repaying creditors in stablecoins and other crypto.

Although the SEC stated it was "not opining as to the legality" of such actions, it reserved the right to "challenge any transactions involving crypto assets."

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Telo News - Crypto | DeFi | Web3

30 Aug 2024 23:53

Brazil’s Supreme Court has ordered the immediate and full suspension of X after Elon Musk refused to name a legal representative for the firm.

The court has ordered X to be taken down within 24 hours, mandated app stores to comply within 5 days, and imposed daily fines of $8,874 for anyone using a VPN to access X.

In response, Elon Musk said the "oppressive regime in Brazil is so afraid of the people learning the truth that they will bankrupt anyone who tries.”

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Telo News - Crypto | DeFi | Web3

30 Aug 2024 15:19

Chinese developers are turning to the TON blockchain as traditional game markets face challenges, with developers like Xiaoze finding success through mini-games like Notcoin. Traditional game companies are also repurposing old games for the TON platform.

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Telo News - Crypto | DeFi | Web3

30 Aug 2024 12:36

According to the recent data, Telegram’s financial stability is under significant pressure as Pavel Durov faces criminal charges in France.

Plans for a potential IPO by 2026 are now in doubt, with bondholders already experiencing steep losses as Telegram’s bonds have dropped nearly 10%, trading around 87 cents on the dollar, and yielding over 16%, down from 96 cents prior to Durov’s arrest.

Durov has invested “hundreds of millions” in Telegram, including $64m in Telegram bonds.

2023 Telegram's performance figures include:
⚫Revenue of $342m
⚫Total loss after tax $173m

With approximately $2.4bn in debt maturing by 2026, including a $1bn bond issued in 2021, Telegram’s future remains uncertain as investors and stakeholders await further developments.

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Telo News - Crypto | DeFi | Web3

30 Aug 2024 11:25

Feixiaohao, the largest simplified Chinese cryptocurrency market data website, similar to CoinGecko, is suspected to have been involved in a police investigation in China.

The reason remains unclear, and the investigation has reportedly lasted over six months.

Many of Feixiaohao’s exchange partners have been unable to contact them.

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Telo News - Crypto | DeFi | Web3

30 Aug 2024 09:45

The lawsuit against Elon Musk and Tesla, alleging they manipulated the price of Dogecoin, causing $258bn in damages, has been dismissed by the U.S. judge.

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Telo News - Crypto | DeFi | Web3

29 Aug 2024 23:11

French President Macron denied inviting Pavel Durov to France and stated that he was completely unaware of Durov's visit.

This was in response to French media reports indicating that Durov had allegedly told police officers he was in Paris to have dinner with Macron on the day of his arrest.

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Telo News - Crypto | DeFi | Web3

29 Aug 2024 14:49

💡💡💡
The US announced that the Q2 2024 GDP grew by 3% annualized, exceeding the previous value of 2.80%.

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Telo News - Crypto | DeFi | Web3

29 Aug 2024 08:10

Donald Trump warned Mark Zuckerberg that if he does anything illegal in the upcoming elections, "he will spend the rest of his life in prison."

The statement came from his yet-to-be-released book, Save America, which is set to launch on September 3.

Zuckerberg recently admitted to censoring COVID-19 information on Facebook, saying they were "repeatedly pressured" by the Biden administration.

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Telo News - Crypto | DeFi | Web3

29 Aug 2024 07:13

Nvidia’s Q2 2024 revenues more than doubled compared to a year earlier, hitting a record $30bn.

Profits also soared, with operating income rising 174% from the same time last year to $18.6bn.

Nvidia’s shares have risen by more than 160% this year alone.

However, both sky-high expectations and revelations of a minor production snag involving the company’s Blackwell chips derailed investor enthusiasm and the firm's shares fell by more than 6% after the announcement.

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Telo News - Crypto | DeFi | Web3

29 Aug 2024 06:48

Brazil's Supreme Court issued a 24-hour ultimatum to Elon Musk, threatening to shut down X unless the platform complies with censorship orders.

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Telo News - Crypto | DeFi | Web3

28 Aug 2024 16:16

OpenSea has been given a Wells Notice by the SEC because the agency believes that NFTs on OpenSea are securities.

The CEO Devin Finzer argued that the SEC targeting NFTs would stifle innovation and hurt hundreds of thousands of digital creators who have made and sold NFTs.

Finzer added the company is pledging $5m to help cover legal fees for NFT creators and developers who receive a Wells Notice.

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Telo News - Crypto | DeFi | Web3

28 Aug 2024 14:38

French authorities’ arrest warrants also included Nikolai Durov, co-founder of Telegram and brother of CEO Pavel Durov.

The warrants were reportedly issued on March 25, 2024, revealing a broader and earlier investigation into Telegram's operations than previously known.

There is no suggestion either of the Durov brothers were directly involved in any of the illegal activities identified by the investigation.

Telegram's Vice President Ilya Perekopsky is also mentioned in the summary of the case, though the document does not indicate if a warrant has been issued for him.

Nikolai Durov’s current whereabouts remain unknown.

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Telo News - Crypto | DeFi | Web3

28 Aug 2024 10:35

BlackRock is listing its iShares Ethereum Trust (ETHA) on Brazil’s B3 stock exchange under the ticker ETHA39, offering Brazilian investors access to Ethereum through a depositary receipt.

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Telo News - Crypto | DeFi | Web3

28 Aug 2024 09:44

The open letter urging France to #FREEDUROV has garnered over 2 million signatures worldwide: /channel/tgresistancebot/letter

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