Cango Inc., a Shanghai-based car dealership, has made waves in the cryptocurrency sector with its remarkable transition from a traditional automotive business to Bitcoin (BTC) mining. The company’s strategic acquisition of 32 exahashes per second (EH/s) of mining capacity from Bitmain Technologies for an impressive $256 million showcases its ambitious foray into the competitive mining
business
In an unexpected turn of events, CyberKongz, a project at the forefront of the gaming-oriented NFT (non-fungible token) movement, received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) on December 16. This notice has sent ripples through the Web3 gaming community as it raises significant questions about the use of ERC-20 tokens
The video game industry is in a state of transformation, driven by emerging technologies like Web3 and artificial intelligence (AI). Once dominated by a few major corporations whose business models often prioritized profit over player experience—through pay-to-win schemes and incessant microtransactions—this new landscape promises to redefine how players engage with games. The convergence of these
The cryptocurrency landscape is perpetually shifting, with ongoing legal battles shaping its future. A significant case currently unfolding is the conflict between Coinbase and BiT Global regarding the delisting of Wrapped Bitcoin (WBTC). This dispute has brought to light critical concerns within the crypto community, particularly regarding transparency, ownership, and regulatory adherence. Here, we delve
The issuance of the Wells Notice to CyberKongz by the U.S. Securities and Exchange Commission (SEC) has rocked the Web3 gaming community. This document not only serves as an official warning that enforcement actions are on the horizon, but it also signifies a pivotal moment in the evolution of Non-Fungible Tokens (NFTs). As the NFT
In 2024, Robinhood Crypto, part of the well-known American financial services platform, has made significant strides in the cryptocurrency sector. The release of its end-of-year report highlights a successful year of expansion and increased market engagement. With a staggering notional trading volume of $119 billion and $38 billion in crypto assets under custody by November,
In a remarkable transaction for the cryptocurrency market, the AVA token of Travala saw an astonishing increase of over 300% within a single day. This upward momentum followed a significant endorsement by Changpeng Zhao, the former CEO of Binance, whose support has proven to be a powerful catalyst for investment dynamics. Zhao’s recent social media
In the wake of increasing investments and public interest in cryptocurrency, Congressman French Hill has recently stepped into the role of Chair of the House Financial Services Committee with a plan to reshape the regulatory framework surrounding digital assets. During a December 13 interview with CNBC, Hill articulated a vision aimed at dismantling the regulatory
GateToken, a vital component of the Gate.io cryptocurrency exchange ecosystem, has achieved a remarkable milestone by reaching an all-time high of $13.79. Despite facing rumors suggesting a security breach, the token’s performance indicates robust investor confidence. Following the peak, the token adjusted to slightly lower levels, stabilizing at $13.29. This surge can be attributed to
Italy’s government is currently navigating a contentious debate surrounding proposed tax increases on cryptocurrency capital gains. Initially, lawmakers put forward an ambitious plan to escalate the tax from 26% to a striking 42%, positioned as part of their 2025 budget strategy. This move aimed to secure an influx of revenue but encountered considerable backlash from