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Crypto News that shaped the week
Some crypto news and events are small and some are big. Yet collectively they shape the crypto space and it is always good to know what is happening in the crypto universe.
Here are some of the more significant events and news events that unfolded in the previous week and made some noise and impact in the crypto world.
Hopes of indian Investors dashed by the Interim Budget
The week saw a lot of hope and disappointment when it comes to the hopes and aspirations of the crypto community in India.
Individuals and community alike were hoping to see some positive news from the Indian financial minister related to the crypto tax in the Interim budget 2024
However these hopes were dashed as there was no talk of any reduction of crytpo taxes in the budget speech.
The current crypto tax structure holds with 30% tax on all crypto profits and 1% TDS (Tax deducted at source) on every crypto transaction that a person does via an Indian exchange.
Read more about it here
Ripple is hacked for a huge 213 million $XRP tokens
At the current valuation price at the time of attack the hack amounts to $112 million USD
Read more about it here
Binance emerges as the knight in shining armour
The hackers apparently had transferred the funds from the ripple hack to be converted via the Binance exchange, however the Binance team did due diligence and took timely action freezing the funds worth $4.2 million from the person behind the ripple exploit.
Read more about it here
$JUP airdrop millionaire
A user going by the username 7poJrJ claimed a seven figure airdrop thanks to the 9246 wallets that he used to claim the airdrop.
Read more about it here
Mr Donald Trumps wants to fire Jerome Powell
Mr. Trump has claimed that if he is re-elected to the office of US president he would fire Powell from the post of the Head of Federal reserve.
Read more about it here
US FED interest rate news
The US Fed has not made any changes to the interest rates.
Read more about it here
Solana has all time high wallets in January
The Solana blockchain is witnessing a lot of adoption and new users keep creating wallets.
The month of January has seen a record number of wallets added to the Solana blockchain in the first month of 2024.
This could be on account of a lot of projects being developed on the Solana blockchain and also a number of airdrop related news on the blockchain.
Read more about it here
Bitcoin ordinals sales drop
The sales of Bitcoin ordinals have fallen by as much as 61% in the month of January.
Read more about it here
Hong Kong Crypto Action
The Authorities in Hong Kong have warned that those companies that are operating from its territories without licence should apply before February end.
The companies that are unapproved would have to shut shop by May 31st 2024
Read more about it here
Argentina to ease taxation on BTC
Argentina is a crypto friendly country and it has decided that it would not be taxing the ownership of BTC as well as other crypto currencies.
Read more about it here
German Police seizes 50,000 BTC
The German police have captured 50K Bitcoins which are worth $2.17 billion related to a movie streaming website.
Read about it here
OPNX Exchange is shutting down
The OPNX exchange has given time till February 7th to its users to take out the funds from the exchange.
Read more about it here
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