Telo News - Crypto | DeFi | Web3

17 Oct 2024 13:18

The UK's Financial Conduct Authority (FCA) alerted that TikTok must undergo the watchdog's money laundering and terrorist financing checks due to its crypto exchange-like operations.

This was due to the app's virtual currency system, TikTok Coins, which users can purchase and exchange for real money on the platform.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

17 Oct 2024 11:45

Chainalysis' legal representatives are scheduled to appear in court regarding the $650m defamation lawsuit filed in January by YieldNodes creators over scam allegations.

YieldNodes says the crypto analytics firm labeled them an "investment scam," but Chainalysis denies the wrongdoing and has filed motions to dismiss, citing lack of evidence.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

17 Oct 2024 09:22

Data shows PayPal's PYUSD stablecoin market cap fell by 40% from above $1bn in August to $618m just 90 days later. The drop was likely driven by a reduced circulating supply on Solana.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 22:13

Alex Svanevik, the CEO of Nansen, a prominent multi-chain analytics platform, shared that his Singapore permanent resident (PR) application has been rejected despite raising over $88m in capital and creating over 25 jobs. He added that his wife already has PR and that they have a child born in Singapore.

Though Singapore remains one of the most desirable PR countries for crypto startups, the situation highlights the growing frustration surrounding Singapore’s immigration policies.

Other alternatives include Dubai, Hong Kong, and Japan, which have the following requirements to obtain residency visa:

⚫ Dubai: Entrepreneurs with a UAE-based project valued at a minimum of $135k.
⚫ Hong Kong: Build a business that contributes to the country's economy or invest a minimum of $3.8m.
⚫ Japan: Earn a minimum of $134k annually.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 17:49

Grayscale Investments has filed with the SEC to convert its Digital Large Cap Fund, which includes Bitcoin, Ether, Solana, XRP, and Avalanche, into an ETF.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 17:12

Tether has seen remarkable growth, with 330m on-chain wallets and accounts receiving USDT by the end of Q3 2024, representing significant global adoption.

⚫️On-chain users increased by 36.25m in Q3 2024
⚫️The last four quarters averaged a 9% user growth rate
⚫️Layer 2 chains contributed to rapid growth, adding 3.3m users in six months
⚫️The total number of users, including off-chain accounts, is even higher than 330m

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 16:50

Italy is reportedly planning to increase the capital gains tax on cryptocurrencies like Bitcoin from 26% to 42%.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 10:31

Bank of America noted the highest investor optimism since June 2020, according to a fund managers' survey.

⚫️76% predict a "soft landing" for the U.S. economy
⚫️Geopolitics is seen as the biggest tail risk by 33%
⚫️Cash levels in portfolios dropped from 4.2% to 3.9%
⚫️Investments in stocks surged, while bond holdings decreased

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 09:53

Since the implementation of select provisions of the EU’s Markets in Crypto-Assets (MiCA) regulations in June, MiCA-compliant stablecoins, such as Circle’s EURC and Société Générale’s EURCV, have dominated the euro-stablecoin market.

EURC and EURCV now hold a record 67% market share of the euro-stablecoin market.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 09:32

Donald Trump-linked World Liberty Financial launched its WLFI token sale to the public, selling 655m with 19.345bn tokens remaining despite over 100k people singing up for the whitelist.

The tokens were sold at $0.015, raking in around $9.825m in sales, far from the target of raising $300m for 20% of token supply, valued at $1.5bn.

The website faced intermittent downtimes, leading to access difficulty for investors.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

15 Oct 2024 23:28

Tesla has transferred over $225m of Bitcoin to new wallets, marking its first transfer in two years.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

15 Oct 2024 14:55

Ripple has launched RLUSD, a stablecoin pegged to the U.S. dollar, aiming to disrupt the market dominated by Tether (USDT) and USD Coin (USDC).

Each RLUSD token is 100% backed by U.S. dollar deposits, government bonds, and cash equivalents.

RLUSD, will be available globally on platforms including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA and Bullish.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

15 Oct 2024 13:53

China has begun enforcing a long-overlooked tax on overseas investment gains by the country’s ultra-rich. Some have been asked to conduct self-assessments, while others were summoned to address potential payments, with levies of up to 20% on gains and penalties for late payments.

The move underscores growing urgency within the government to expand its sources of revenue as land sales tumble and growth slows. It also aligns with President Xi Jinping’s “common prosperity” campaign to create a more equal distribution of wealth.

China’s tax push also follows its 2018 implementation of the Common Reporting Standard (CRS), a global information-sharing system aimed at preventing tax evasion. While local rules always stipulated that residents be taxed on worldwide income, including investment gains, it has rarely been enforced until recently.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

15 Oct 2024 13:18

Montenegrin media ETV reported that Do Kwon, founder of Terraform Labs, allegedly conducted cryptocurrency transactions using his electronic devices while detained in Spuž prison in Montenegro.

This has raised concerns about whether local authorities mishandled allowing Kwon access to crypto wallets via his laptops and phones during his detention.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

15 Oct 2024 10:55

Former Philippines mayor Alice Guo was linked to the defunct Atom Asset Exchange (AAX), which allegedly laundered and stole customer assets in 2022.

Guo was also tied to illegal gambling operations and pig-butchering scams involving nearly 1,000 workers, some victims of human trafficking. She owned 50% of the compound where the operations took place with tunnels leading to her property.

Speculation about her being a Chinese native arose from her matching fingerprints with those of Chinese citizen Guo Hua Ping and her non-native speaking of the local dialect, leading to doubts about her Filipino identity.

If found guilty, Guo and her accomplices could face up to 1,218 years in prison.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

17 Oct 2024 13:09

The Russian Central Bank expects the first international cryptocurrency payments to take place by the end of 2024.

Bank Governor Elvira Nabiullina stated that, although there is participant interest, the specifics regarding the transactions and involved parties will remain confidential due to the experimental nature of the legal framework.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

17 Oct 2024 10:22

Thailand's oldest bank, the Siam Commercial Bank (SCB), is now the first Thai bank to adopt stablecoins for cross-border payments after partnering with fintech company Lightnet.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

17 Oct 2024 09:21

Robinhood launched futures and index options trading for stocks, commodities, and cryptocurrencies.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 17:59

Kamala Harris recently promised to legalize cannabis and provide economic incentives, including up to $20k in forgivable loans for African Americans investing in industries like cryptocurrency and recreational marijuana.

This pledge comes amid concerns that a significant portion of the Black electorate may support Trump in the upcoming election.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 17:41

Kazakhstan will restrict banks from sending funds to unregistered foreign crypto exchanges and tighten regulations on online casinos and users with more than five payment cards.

Banks must also conduct enhanced checks for transactions exceeding $1,000 with registered platforms at the Astana International Financial Centre.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 16:59

JPMorgan reported that U.S.-listed Bitcoin miners now account for a record 29% of the global hashrate as of October 2024:

⚫️The hashrate of 14 tracked miners surged 70% year-to-date, outpacing the network's 33% growth
⚫️The overall network hashrate increased by 4% this month, with only a slight rise in mining profitability
⚫️Mining stocks may offer attractive opportunities, with some miners like Greenidge Generation outperforming others

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 16:42

Ireland is drafting new cryptocurrency regulations ahead of the EU's Anti-Money Laundering and Countering the Financing of Terrorism Act, which takes effect on December 30, 2024.

This new law will enhance investigative powers and impose stricter financial reporting, including for crypto exchanges.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 10:00

JPMorgan has turned bullish on the crypto market for 2025, citing factors like Donald Trump's potential return to the presidency, which could support Bitcoin through regulatory changes.

The report also highlights the impact of Mt. Gox and Genesis liquidations winding down, the potential reinvestment of funds from FTX bankruptcies, and rising stablecoin market caps.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 09:41

Creator of memecoin Saitama Inu was charged by the SEC for unregistered offering and sales of securities and market manipulation through pump and dump scheme.

The creator, Vy Pham, was also charged for wash trading with her new project, Robo Inu.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

16 Oct 2024 07:41

Tesla moved its entire 11.5k BTC holdings, worth approximately $760m, to new unmarked addresses. It remains unknown whether these addresses still belong to Tesla or if it is selling its Bitcoin.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

15 Oct 2024 19:34

Canary fund submitted S-1 filling for spot Litecoin ETF.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

15 Oct 2024 14:14

Vitalik Buterin presented an updated roadmap for Ethereum in 2024, focusing on three key areas for the network's future:

⚫️Scaling Layer 2 to reduce fees and improve network capacity
⚫️Enhancing wallet security to prevent users from switching to centralized exchanges
⚫️Improving data privacy through stealth address protocols to ensure transaction confidentiality

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

15 Oct 2024 13:47

The Fear and Greed Index is currently at 65, indicating a state of "Greed."

This is the highest level since July 2024, reflecting a 17-point increase in the last 24 hours.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

15 Oct 2024 12:12

Cryptoquant data shows Bitcoin open interest hit a new all-time high at $19.8bn, indicating a growing influx of liquidity and increased attention to the crypto space.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source

Telo News - Crypto | DeFi | Web3

15 Oct 2024 10:15

Argentina ruled that smart contracts are now considered legal contracts, allowing their implementation in rental agreements, purchase payments, and other agreements enforceable by law.

▪️ Telegram ▪️ X
▪️ Community ▪️ Source