Crypto exchange Bitget has entered the expanding market for crypto investment products with the launch of BGUSD, a yield-bearing stable asset backed by tokenized real-world assets. The company announced that BGUSD offers an annual yield of 4%, which is credited daily to users’ spot accounts. Subscriptions to BGUSD can be made using either USDC (USDC)…
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Binance co-founder and former CEO Changpeng “CZ” Zhao has pushed back against a report in The Wall Street Journal, calling it a “hit piece” filled with inaccuracies and negative assumptions. In an X post, Zhao criticized the publication’s portrayal of his alleged involvement with World Liberty Financial, the decentralized finance project backed by a business…
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Newly updated guidelines from Dubai’s crypto regulator include provisions on real-world asset (RWA) tokenization and clarify rules for issuers. On May 19, Dubai’s Virtual Asset Regulatory Authority (VARA) released its updated Rulebook for virtual asset service providers (VASPs) operating in the region. The regulator gave market participants until June 19 to comply with the new…
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United States Securities and Exchange Commission (SEC) Commissioner Hester Peirce said many non-fungible tokens (NFTs), including those with mechanisms to pay creator royalties, likely fall outside the purview of federal securities laws. In a recent speech, Peirce said NFTs that allow artists to earn resale revenue do not automatically qualify as securities. Unlike stocks, NFTs…
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A court decision in Australia could open the door to as much as $640 million in capital gains tax (CGT) refunds on Bitcoin transactions after a judge ruled that crypto should be treated as money rather than a taxable asset. On May 19, the Australian Financial Review (AFR) reported that the decision arose within a…
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Dubai’s crypto regulator has given licensed digital asset companies until June 19 to comply with its updated activity-based Rulebooks to enhance market integrity and risk oversight. On May 19, Dubai’s Virtual Assets Regulatory Authority (VARA) announced that it had released Version 2.0 of the Rulebooks. The regulator said it had strengthened controls around margin trading…
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Prominent short-seller Jim Chanos, once a vocal critic of Bitcoin and cryptocurrencies, revealed a new trading play that involves shorting shares of Strategy (formerly MicroStrategy) and buying Bitcoin. At the Sohn Investment Conference in New York, Chanos told CNBC he’s “selling MicroStrategy stock and buying Bitcoin.” The investor described the move as buying something for…
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The cryptocurrency market continued to surge this past week as the overall digital asset market capitalization exceeded $3.27 trillion, an 8.6% increase over the previous week. Bitcoin (BTC) reached a high of $103,600 on May 8 after reclaiming $100,000 for the first time since January. Its market dominance also surged above 60%, reflecting more bullish…
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Almost 60,000 Bitcoin addresses tied to LockBit’s ransomware infrastructure were leaked after hackers breached the group’s dark web affiliate panel. The leak included a MySQL database dump shared publicly online. It contained crypto-related information that could help blockchain analysts trace the group’s illicit financial flows. Ransomware is a type of malware used by malicious actors.…
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Bitcoin holders are becoming more comfortable borrowing against their crypto as market confidence grows, according to Seamus Rocca, the CEO of the Gibraltar-based private bank Xapo Bank. In an interview at the Token2049 event in Dubai, Rocca told Cointelegraph that with Bitcoin (BTC) hovering around $95,000 and institutional adoption starting to catch on, the executive…
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