Crypto Bytes: Top 10 Breaking News from Cryptoverse  

  1. Corporate tax on unrealized profits has been eliminated in Japan! From April 1, 2024, businesses that own unrealized gains on their cryptocurrency assets will not be subject to taxation on these assets. 
  1. TrueUSD (TUSD) Collaborates With Premier Accounting Firm MooreHK To Promote Openness through daily attestations among Cryptocurrency Owners!
  1. In response to consumer concerns regarding a deleted social media account purportedly belonging to its CEO, digital asset exchange MEXC has clarified that it has no formal relationship with the account.
  1. Pan-African exchange, Yellow Card Financial has announced that it intends to apply for a licence as Nigeria lifted a blanket ban on crypto. The prohibition forbade financial institutions from conducting business or running bitcoin exchanges. 
  1. To support its proposed spot Bitcoin exchange-traded fund (ETF), BlackRock intends to provide $10 million to a seed fund. SEC) regulatory approval is a prerequisite for the ETF’s planned launch, which the firm is preparing for with this financial commitment. 
  1. In 2023, VC funding for cryptocurrency fell by 68% to $10.7 billion, from $33.3 billion invested in 2022. However, the total amount spent in 2023 surpasses the $6.4 billion invested in 2019 and 2020, outpacing previous bear markets.
  1. Biggest telecom company in China opens up the NFT market. LinkNFT! CMChain’s 3-in-1 cross-chain standard components—Web3.0 Centre service, cross-chain adaptor, and smart contract association—allow LinkNFT to achieve Web3.0 compliance. 
  1. Record Address Numbers See Higher Monthly User Activity in Solana! The network reached ATH for both new and active addresses at 6.8M new addresses, surpassing the peaks from May 2023 and Jan. 2023, respectively
  1. Within 5 days after the debut of the ZK L2 network, ZKFair TVL has increased by more than 300%. More than 50K participants were recorded for the Gas Fee Airdrop event on ZKFair, which helped to boost TVL.
  1. Over 370K cross-chain communications are transmitted on LayerZero every day, which is a 100% growth in only the last six weeks. The spike in daily cross-chain messages starting Sep. 5 marks a new record high for LayerZero’s cross-chain interoperability protocol.

Disclaimer: This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Mehar Nayar

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