Bitcoin News and Finance: What You Need to Know

Licensed crypto mining companies have urged the government in Kazakhstan to revise its taxation policy regarding the sector, which they say is in dire straits. The largest mining firms plan to leave the Central Asian nation by the end of this year, warned the members of the industry. Miners Criticize Kazakhstan Government’s ‘Unbalanced’ Tax Rules Crypto mining businesses, authorized to operate in Kazakhstan, have complained about the high production costs since the government limited their access to subsidized electricity and imposed a progressive scale for a surcharge they are required to pay for the power they use. In an open letter to President Kassym-Jomart Tokayev, eight companies involved in the minting of digital currencies called for a revision of the applicable tax rules. Warning authorities that Kazakhstan’s mining sector is now “in extremely dire straits,” they also revealed: Today, all the largest representatives of the industry have suspended their activities and p...

The U.S. Securities and Exchange Commission (SEC) announced charges against an accounting firm that worked for failed cryptocurrency exchange FTX. The company, Prager Metis, has been accused of facilitating clients in breaking federal securities laws and also auditor independence violations. FTX Accountant Prager Metis Charged With Auditor Rules Violations The U.S. securities regulator has charged accounting firm Prager Metis CPAs, LLC and its California professional services firm, Prager Metis CPAs, LLP with violating auditor independence rules while also aiding and abetting clients’ violations of America’s securities laws. In its complaint, filed in the U.S. District Court for the Southern District of Florida, the SEC claims that between December 2017 and October 2020 Prager included indemnification provisions in engagement letters for more than 200 audits, reviews, and exams. It alleges: Prager was not independent from its clients for those engagements, as required under the f...

As of October 1, 2023, $39.50 billion is nestled within decentralized finance (defi) platforms. Let’s dive into the top five categories, spotlighting the diverse array of defi protocols, the count of these applications, and the wealth they encompass. A Look at 5 Defi Categories Commanding Billions in Crypto Assets Defillama.com , a decentralized finance (defi) industry aggregator, showcases an array of defi protocols, their underlying blockchains, and their held values. It features around 35 unique categories of applications. Dominating the scene are liquid staking derivatives applications, with 119 of them controlling $23.05 billion. Liquid staking derivatives represent tokens that are backed by staked assets in blockchain networks, allowing users to remain liquid while their assets are staked. In essence, they let you earn staking rewards without locking up your assets, by converting them into tradable tokens. Lending, the runner-up in the defi realm, encompasses protocols ena...

On September 29, 2023, the asset management firm Vaneck unveiled an initiative to earmark 10% of its profits from its ethereum ( ETH ) exchange-traded fund (ETF) towards protocol development for at least ten years. This financial infusion will be given to the Protocol Guild, a consortium of over 150 core Ethereum developers, fueling their quest to further refine and grow the Ethereum protocol. A Decade-Long Commitment to Ethereum Development Vaneck is set to contribute 10% of its ethereum futures ETF profits to the advancement of Ethereum, as revealed in a statement released on the social media platform X this past Friday. “We intend to donate 10% of our EFUT ETF profits to Protocol Guild for at least 10 years,” the firm said . “Thank you, Ethereum contributors, for nearly a decade of relentless building & ongoing stewardship of this common infrastructure.” The Protocol Guild encompasses over 150 Ethereum core developers, with an onchain registry bearing testimony to its membe...

As markets continue to move sideways, crypto companies are trying to increase user engagement through airdrops. Among them are some well-known names in the space as well as new projects searching for their place. They all seek to arouse interest in digital money and their own products with giveaways of coins and tokens. From Binance Rewards to Wall Street Memes, October Brings a Number of Airdrops Airdrops are a popular way to win some crypto by interacting with new or well-established platforms in the industry, a reward for those who are willing to get involved, see potential, or are simply out hunting for some free digital cash. Not least, they offer newcomers an opportunity to try cryptocurrency, and not necessarily after spending fiat. The world’s largest cryptocurrency exchange, , has been at loggerheads with regulators around the world this year and the clash has brought it bad publicity. However, despite the challenges, including legal battles , probes, and de-banking in t...