This comes a week after the exchange said that the Directorate of Enforcement (ED) had unfrozen its bank accounts, allowing the platform to resume banking operations after almost a month.
Founded by three Indian entrepreneurs Varun Deshpande, Ratnesh Ray, and Siddharth Verma, the startup is also backed by Balaji Srinivasan (ex-CTO of Coinbase) and Surojit Chatterjee (CPO of Coinbase), Ryan Selkis (Founder, Messari), Sandeep Nailwal and Jaynti Kanani (Founders of Polygon).
The total volume in DeFi stood at $3.87 billion, which is 5.45 percent of the total crypto market 24-hour volume.
The biggest cryptocurrency by market value, bitcoin, was up more than 5% at $20,286. The second-biggest, ether, rose 4% to a one-week high of $1,389.
With reports indicating around 8,000 ‘hot’ wallets were compromised in the attack, experts advise investors to switch to hardware wallets for better security.
Earlier this month, the company said its group firm has assets worth $330 million and liabilities worth $400 million
The round was led by Hashed Emergent, Athera Venture Partners (formerly Inventus), Better Capital, Whiteboard Capital, Polygon founders Sandeep and Jaynti, Kunal Shah of CRED, and other angel investors.
This was an answer to Rajya Sabha member Derek’O Brien’s question on if the Government has taken note of crypto startups exiting India, its details and reasons and the impact on the economy.
The firm’s employee costs also rose to over Rs 11.69 crore from Rs 3.98 crore while its overall expenses rose to over Rs 40 crore from Rs 5.71 crore in FY20.
Unaware of total transaction amount, crypto investors face information powered notices
Crypto volumes have nearly halved over the last one week as 1% TDS on crypto transactions came into effect on July 1. In fact, June has turned out to be the worst month on record for this asset class. Join Karunya Rao in conversation with Manisha Gupta to know other reasons for the slump.
Ruja Ignatova, a Bulgarian national, is behind OneCoin -- a classic ponzi scheme. She and co-conspirators pulled in at least $3.4 billion, court documents say.
The product is in the pilot stage and should be unveiled in the next couple of months. Experts say products like FD have the potential to establish themselves quickly, complement crypto trading, and diversify the overall crypto investment strategy.
TDS of 1 per cent on transfer of cryptocurrencies is set to come into force from July 1. The responsibility of withholding this tax will be on the buyer, crypto exchanges and brokers, depending on the type of transaction, CBDT has clarified.
The officers committee on GST has suggested the GST Council to defer a decision on taxability of cryptocurrency and other virtual digital assets.
BlockFi is among the major crypto firms that have been impacted by bearish crypto market sentiments. The company is slashing its headcount by around 20 percent. In February, it agreed to pay a $100 million penalty to settle an investigation by the Securities and Exchange Commission and other agencies into its high-yield accounts.
The record-setting rout in cryptocurrencies has put a slew of decentralized-finance applications and their communities in a race to protect themselves against a cascade of liquidations -- sometimes by employing unprecedented measures.
The plaintiff claimed that since the Tesla boss began promoting dogecoin, investors have lost around $86 billion.
The crypto industry is having one of its worst days ever as Bitcoin and Ethereum crash nearly 18%. Watch Karunya Rao and Manisha Gupta decode dynamics for you.
According to the report, if a new love interest wants to show you how to invest in crypto, or asks you to send them crypto, that’s a scam.
Lifted by the hype around NFTs, the market for digital tokens hit a peak of $23 billion last year; it has now dropped by almost half to $12 billion, according to CoinMarketCap, a price tracking website for crypto assets.
The Bill caps electricity use at current levels for existing mining operations. The Bill does not alter operations running on renewable sources, or using less energy-intensive alternatives such as proof-of-stake to verify transactions.
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Ajay Seth said there needed to be a global consensus reached on cryptocurrencies and India would look at regulations enforced in other countries before deciding how it would regulate.
The Ethereum “Merge,” one of the most significant technical upgrades to the blockchain since its inception in 2015, may be one of the few catalysts that could give DeFi a much-needed lift.