Prometheum, a New York-based digital asset company, has launched the first SEC-compliant Ethereum (ETH) custody service, setting a new milestone for industry compliance. This service treats ETH as a security under U.S. Securities and Exchange Commission (SEC) regulations. Prometheum pioneers regulated Ethereum storage service Prometheum, known for its controversial stance on digital assets, has launched an ETH custody service with a select group of companies. The full launch is scheduled for the first week of June. Co-CEO Aaron Kaplan emphasized that this is the first time that investment contracts involving digital assets are managed and processed under securities laws. “This…
Author: Crypto Flexs
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India’s Finance Minister Nirmala Sitharaman has advocated for a global consensus on cryptocurrency regulation, emphasizing the need for international cooperation, especially within the G20. She noted that while Indian regulators have different opinions on how to handle cryptocurrencies, there is no major confusion at the moment. Indian Finance Minister Cryptocurrency Regulation Indian Finance Minister Nirmala Sitharaman (…)
Binance Announces Spot Trading Tournament Binance, a leading cryptocurrency exchange, announced the launch of a new spot trading tournament. As announced on the official website, the tournament is open to all users who can share in the prize pool of 300,000 USDC in token vouchers. Tournament Details The tournament promotion period runs from 12:00 UTC on May 20, 2024 to 23:59 UTC on June 2, 2024. To qualify, users must confirm their participation on the tournament page and achieve at least $1,000 equivalent in each eligible spot trading pair during the promotion period. Eligible participants…
What defines an independent contractor, and how does it affect your work and finances in today’s digital economy? From legal classifications to tax responsibilities and the intriguing new trend of getting paid in cryptocurrency, this article offers a no-nonsense guide to being or employing independent contractors. Get ready to gain valuable insights into the independent contractor landscape, including practical tips to navigate these professional waters seamlessly. Key Takeaways The IRS and FLSA categorize independent contractors based on the degree of control exerted on the worker, focusing on the behavioral and economic aspects of…
According to CoinShares’ weekly report, inflows into digital asset investment products hit $932 million, up 616% from last week’s week. This is the second consecutive week of inflows this month and a return to the impressive numbers recorded earlier this year. James Butterfill, head of research at CoinShares, explained that the significant inflows were “an immediate reaction to the lower-than-expected Consumer Price Index (CPI) report.” He added: “The last three trading days of the week accounted for 89% of total flows, highlighting our view that Bitcoin price has re-engaged with interest rate expectations.” However, despite significant flows, trading volumes remained…
Amid a notable surge in spot purchases and spot BTC exchange-traded fund (ETF) purchases, the price of Bitcoin (BTC) has rebounded to the coveted $70,000 level, and the cryptocurrency community is wondering whether the bull market has just begun or is nearing its peak. I’m wondering if I’m losing. Bitcoin charts and spot ETF activity highlight a trend reversal.Analyst “ELI5 at TLDR” suggested that most on-chain indicators are pointing to an early bull market, despite showing some upper-level patterns. A recent bounce in support near $60,000 has heightened interest, with Farside Investors reporting inflows of around $950 million last week,…
Phantom Wallet moves up to third place in Apple’s Utilities category. Phantom surpassed 7 million monthly active users in April. Telegram’s recent growth is likely due to one popular app. Solana has seen a surge in adoption in both the DeFi and consumer app sectors in recent months. One such app has led the recent growth of Solana-based Phantom Wallet. Most recently, Phantom saw significant download growth, ranking third among Apple App Store utility apps. This is likely due to the popularity of Solana-based consumer apps. Solana’s Phantom app ranks high in the App Store On Sunday, May 19, the…
Bitcoin (BTC) last closed above $68,000 on April 11, despite trading above $67,000 several times over the past five days. Despite Bitcoin rising 2% on May 20, it needs another 7% gain to reach its all-time high. Meanwhile, the price of gold hit an all-time high of $2,450 on May 20, and the S&P 500 index rose to an all-time high of 5,325 points. This backdrop has BTC investors pondering what may be hindering progress.Bitcoin is up 51% year-to-date in anticipation of a monetary expansion in the United States.It could be argued that Bitcoin’s 51% year-to-date gain reflects investor expectations…
that much BE BE +8.57% The foundation announced Monday that it has launched a governance proposal to upgrade the Sei layer 1 blockchain to version 2. This proposed upgrade, to be implemented by Sei Labs, introduces a high-performance parallel Ethereum Virtual Machine (EVM) aimed at improving network capabilities. Once the governance proposal is approved, the network upgrade will take place one week later. This development allows Ethereum-based contracts to be ported to Sei and used with sub-second finality, reducing the time required to confirm transactions.In addition to compatibility, Sei v2 offers advanced features such as parallel execution, mirroring features found…
A 10-year-old research paper regarded as a ‘blueprint’ for the first practical application of zero-knowledge proofs (ZK-proofs) has received an award from the Institute of Electrical and Electronics Engineers (IEEE), the world’s largest technical organization.“Genesis White Paper” — “ZeroCash: Decentralized Anonymous Payments on Bitcoin,” according to a presentation shared with Cointelegraph. — it was helpful It paved the way for ZK proofs in cryptocurrencies and has now received the “Test of Time” award at the IEEE Symposium on Security and Privacy. “This award recognizes that this paper has had a broad and lasting impact on both research and practice in…