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Tether, Issuer of USDT, Reports 30% Drop in Profits

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USDT stablecoin issuer Tether released its Q2 2023 certification report on July 31, and according to the report, Tether posted an “operating profit” of $1 billion in the second quarter, down of approximately 30 times.% of first-quarter earnings of $1.48 billion. While its $1 billion “operating income” is down from Q1, there is a 30%…

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Japan Blockchain Association Asks Tokyo to Review Crypto Tax System

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An industry organization in Japan has suggested that the government should reform the tax rules for crypto assets and transactions. Its members are convinced that current tax regulations impede the growth of the country’s Web3 economy and discourage taxpayers from owning and using cryptocurrencies. Government of Japan asked to change tax laws for crypto profits…

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Stronghold Expands Operations with $3 Million Acquisition of 2,000 Bitcoin Canaan Miners

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Stronghold Digital Mining announced on Thursday that it has acquired 2,000 application-specific integrated circuit (ASIC) bitcoin mining rigs from Canaan. The new machines, which cost $3 million, will be delivered to Stronghold’s Panther Creek facility in the third quarter. Stronghold Digital Mining Acquires 2,000 Avalon A1346 Bitcoin Miners While 2022 was not a breakout year…

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The Central Bank of Italy starts the development of the DeFi ecosystem

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The Milano Hub innovation center of the Bank of Italy will support a project led by Cetif Advisory that aims to develop a security token ecosystem for institutional decentralized finance (DeFi). The project is a collaboration between Cetif Advisory, Polygon Labs, Fireblocks and other organizations, with the participation of Italian banks and ten other financial…

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Motorcycle manufacturer Ducati launches NFTs on the XRP Ledger

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Ducati is set to release its first digital collectible on the XRP Ledger, which comprises an animated sequence of Ducati logos that have appeared on motorcycle fuel tanks since 1946. At a renowned motorcycle manufacturer and industry pioneer, Ducati has revealed plans to launch its first digital collectible, using the infrastructure of the XRP Ledger….

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Dogecoin Rises on twitter x.com Rebrand, Bitcoin (BTC) Falls

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Bitcoin fell as low as $29,000 earlier this week, while Dogecoin is up 2.4% in the last 24 hours. One of the biggest news events that could have affected the market is the recent rebranding of Twitter to X.com. Dogecoin (DOGE) supporters are closely watching what Elon Musk is doing with the social network.Dogecoin Rises…

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Ethereum-based decentralized finance protocol loses $3,260,000 worth of ETH to hackers

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A decentralized finance (DeFi) protocol built on top of the Ethereum (ETH) smart contract platform has been hacked worth around $3.2 million. New data reveals that Conic Finance (CNC), which provides omnipools, or liquidity pools that allow all trades on a network to be completed in a single transaction, to Curve Finance (CRV), has been…

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McDonald’s launches McNuggets-themed metaverse in Hong Kong

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McDonald’s Hong Kong branch has finally entered the metaverse, joining a host of other global brands such as Adidas, Coca-Cola and Gucci in adopting web3. The leading fast food chain launched its metaverse dubbed McNuggets Land on Thursday, July 21 on Animoca Brands’ sister gaming platform, The Sandbox. McDonald’s launched the iconic metaverse to mark…

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Moxy launches token sale and esports platform

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Moxy announced the public sale on Wednesday that its native MOXY token was now available in a public sale. Moxy, a leading blockchain-based esports company, has officially launched its token sale. The team also announced that its esports platform and highly anticipated Battle of the Influencers contest are now live. The Moxy team revealed the…