Ethereum Fees Poised For Rebound Amid L2
In November, Ethereum’s Layer-2 networks tripled data uploads since March, after the Dencun upgrade cut earnings by 95%. Researchers in the cryptocurrency industry and onchain data predict that the activity on layer-2 (L2) scaling networks will increase demand for data storage, which will lead to a recovery in Ethereum’s network earnings. According to statistics provided […]
Coinbase Launches cbBTC on Solana
Coinbase launched cbBTC, a Bitcoin-backed SPL token on Solana, with Coinbase as custodian. Coinbase has now announced that cbBTC will be the first token on Solana to have Bitcoin backing. Coinbase is the custodian of the newly created SPL token, which has a 1:1 backing from Bitcoin. Users will have an easier time gaining access […]
Caroline Ellison Begins Prison Sentence for FTX Fraud
Caroline Ellison began serving a 2years sentence on November 7th for her role in the FTX fraud, along with an $11 billion forfeiture. Thursday marked the day that Caroline Ellison, a former chief executive officer of Alameda Research and a key witness in the prosecution against Sam Bankman-Fried, the founder of FTX, reported to a […]
Detroit To Accept Tax Payments In Crypto
By mid-2025, Detroit will let residents pay taxes with cryptocurrency, supporting its tech and growth goals. City officials announced on Thursday that residents in Detroit will soon be able to settle their tax payments using cryptocurrencies, making it the largest city in the United States. Because of this action, Detroit will become the largest city […]
OrbitLabs Proposes Testing New Terra Classic Tax
OrbitLabs will review a “Reverse Charge” tax for Terra Classic, taxing the recipient instead of the sender. OrbitLabs has suggested conducting a comprehensive analysis of the recently implemented “Reverse Charge” tax mechanism on Terra Classic. This tax mechanism aims to simplify tax processing on the blockchain by deducting taxes from the recipient instead of the […]