Get your daily, bite-sized roundup of crypto assets and blockchain-related news, digging into the stories flying under the radar in today’s crypto news.
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news tax news
- German taxpayers who sell their bitcoin (BTC) or ethereum (ETH) after one year of holding will be exempt from tax, according to a crypto tax interpretation of German Ministry of Finance. Work on crypto taxes will continue and a companion letter on cooperation and registration obligations is already in the works, they added.
investment news
- Spot trading volumes on centralized exchanges rose 6.89% to $1.73 trillion in April, with a daily high of $80.3 billion traded on April 1. according to a digital asset data provider report CryptoCompare. Meanwhile, derivatives volumes fell 9.07% to $3.08 trillion, reaching a 64.0% market share, they added.
- crypto intelligence firm Chainanalysis has raised $170 million in a Series F funding round led by a sovereign wealth fund GICInformation reported. The valuation of the company reached USD 8.6 billion after the round.
- media company Townsquare Media revealed in a presentation with the US National Stock Market Commission (SEC) who invested around $5m in BTC during the first quarter of this year.
- investment firm hive mind and blockchain project Algorand (SOMETHING) Announced the acquisition of the music platform napster. They added that more details will follow.
- Web3 Community Creation Tool Highlight high $11 million in a seed funding round led by haun companies in an undisclosed valuation. The project allows users to build a community on the blockchain, complete with their own non-fungible tokens (NFTs), without extensive technical knowledge, they explained.
- web3 development platform Morales confirmed raised $40 million in a Series A funding round.
- Cryptocurrency exchange based in Nigeria and Kenya MARA Announced raised USD 23 million in a round led by Global Distributed, FTXCoinbase and others.
mining news
- internet company el9 limited Announced that its wholly owned subsidiary NBTC and Kyrgyzstan companies SolarCoin entered into a Purchase Agreement for a blockchain computing center in Kyrgyzstan. The9 will obtain an electricity capacity of 31.5 MW for the deployment of its 7,500 Antminer S19J Bitcoin miners that contribute approximately 675 PH/s of hash power. The construction work will be completed and the platforms will be operational by the end of July 2022, they added.
- riot block chain reported Q1 revenue of $79.8 million, up 244% from the prior year quarter, with 1,405 BTC mined during Q1 2022. In the same quarter, mining revenue also increased by 150% to a a record $57.9 million, compared to $23.2 million for the same three-month period in 2021.
- clean spark reported fiscal second quarter revenue of $41.6 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $22.5 million. Quarterly revenue quadrupled compared to the prior year period, from $8.1 million, while adjusted EBITDA in 2021 was $1.9 million.
Regulation News
- international body the Financial Stability Board is “well positioned” to design a global regulatory framework for crypto assets, its president Klaas Knot saying at the annual meeting of the International Swaps and Derivatives Association in Madrid. He wouldn’t have to start from scratch, he said, and would first consider existing laws that already apply to cryptocurrencies.
news exchanges
- base of coins stopped commercial service in India due to “informal pressure” from the Reserve Bank of Indiathe CEO of the cryptocurrency exchange saying on an earnings call. Brian Armstrong added that while they would be interested to know if they violated the Supreme Court ruling that cryptocurrencies cannot be banned, their focus is still on working with the central bank and relaunching.
defi news
- Decentralized finance (DeFi) trading and participation protocol bank (BNT) Announced the release of Bancor 3, which has new features aimed at making staking easier.
Reference-cryptonews.com