Polychain and Three Arrows Capital leads a $230M fund for Avalanche Foundation
The Avalanche Foundation has announced a $230 million investment from a venture capital consortium led by Polychain and Three Arrows Capital to promote the development of the DeFi ecosystem. Since its introduction in September 2020, Avalanche has grown in prominence in the DeFi space , with its smart contracts platform currently powering over 270 industry […]
Delaying tax laws on crypto is an inevitable situation – South Korean lawmaker
Noh Woong-rae, a member of South Korea’s National Assembly and a member of the ruling party, is said to be planning to postpone a bill explaining cryptocurrency taxation until 2023. According to a Naver News report published on Thursday, Noh stated that the Democratic Party of Korea intends to fight the South Korean Ministry of […]
Cryptocurrency restrictions in Cuba takes effect
In Cuba, cryptocurrency is now legal tender for commercial transactions. The Banco Central de Cuba (BCC) — the country’s central bank — has officially released Resolution 215 of 2021, which recognises cryptocurrencies such as Bitcoin (BTC). The directive went into effect on Wednesday, according to Cuba’s official state news agency, Prensa Latina. Bitcoin and other […]
Aussie crypto fund manager gets 7 years jail term for stealing $54M from investors
A fund manager was sentenced to 7 years in prison for running a $54 million Ponzi scheme. Aussie crypto fund manager gets 7 years for stealing $54M. Stefan He Qin, founder of two bitcoin hedge funds, was sentenced to over seven years in prison for defrauding investors of $54 million. The DoJ said on Sept. […]
Crypto and DeFi cause disintermediation in the banking system – OCC head
The head of the Office of the Comptroller of the Currency (OCC) said cryptocurrency and decentralized finance (DeFi) activities among others are factors contributing to the disintermediation of the banking system. Acting Comptroller of the Currency Michael Hsu presented remarks on the issue of banking trust on Sept. 15 at a meeting of the Exchequer […]