Category: Cryptocurrency News

FUNToken today announced that they have created a new token, XFUN, to further increase the speed and transparency in iGaming while significantly decreasing the cost of transactions. XFUN is a new layer two token on Polygon, benefitting from the significantly increased performance and lower latency on this blockchain system.  XFUN is minted through a process whereby FUN tokens are escrowed from Ethereum Main-net on a 1:1 basis and removed from trading circulation.  The process is reversible, with gas fees for movement back to main-net charged to the token-holder. XFUN will not be listed on exchanges and available only through the XFUN Wallet. FUNToken will release a non-custodial wallet for XFUN that will incorporate a number of key features: Ability to hold both FUN and XFUN tokens Integration with both Ethereum main-net and Polygon XFUN Bridge which lets wallets swap FUN for XFUN and vice versa Integrated FIAT to FUN/XFUN opportunities using 3rd party processors Gas-free transactions on XFUN where available Integrated KYC where required by operators “We are truly excited to announce the impending launch of XFUN,” Adriaan Brink, Funtoken CEO, said. “This new layer two token will change the dynamics of FUN and bring us to the next level in our journey.” “In our efforts to effectively unify a decentralised gaming and NFT economy, FUNTokens just fit,” said Shreyansh Singh, Head of Polygon Studios. “We’re excited about the prospects of this partnership.” XFUN will replace FUN as the token behind dPlay Casino and will be introduced to a number of new gambling ventures over the next six months including a new XFUN Casino, a fully on-chain poker room and a sportsbook, all scheduled to launch by the end of the year. All FUN tokens in use in the premium membership program on Freebitco.in (FBC) which are currently held in custodial wallets will be moved to XFUN wallets on launch.  This will bring over 170,000 premium members holding over 430M FUN to XFUN.  By comparison, it is worth noting that FUN currently has around 86,000 token holders. It is likely that within the first month of XFUN more than 10% of the FUN Token circulating supply will be escrowed into XFUN.  

The firm reported the fund had more than $164 million in assets under management as of July 31, roughly 0.04% of its total AUM.

Global cryptocurrency derivatives exchange Bitmex has settled charges with the U.S. Commodity Futures Trading Commission (CFTC) and the Financial Crimes Enforcement Network (FinCEN). The exchange has agreed to pay as much as $100 million to end investigations by the two agencies. Bitmex Settles With CFTC and FinCEN Bitmex confirmed Tuesday that “it has reached a […]

Cardano’s (ADA) price has made a splash on the charts this week. The asset’s success lately can be attributed to the growing interest in the upgrade that would see smart contracts be a reality on the blockchain. Cardano’s (ADA) price has also followed the run-up that the market has experienced lately. Sentiments across the crypto market continue to skew towards buy and Cardano (ADA) is not getting left out of the bull rally. The asset’s price had been struggling lately as momentum had slowed down. But the successful Alonzo White Hard Fork had brought some much-needed faith back into the asset. Prices have been unpredictable for a while. A small uptrend in the price put ADA in the $1.5 price range. The movement continued to remain low following this. Related Reading | Why A Shocking Altcoin Season Could Be On The Horizon Furthermore, this was a welcome change from the $1.05 price point that the digital asset price had hit towards the end of July. This weekend showed small recoveries in the price of ADA. But the real movement has taken place in the past 24 hours. Putting ADA’s price at a point it has not seen in over two months. Cardano (ADA) Gets Listed In Japan Cardano (ADA) recently received approval to be listed in Japan early this month. The approval is considered to be one of the hardest listing approvals to get in the crypto market. Opening up the Cardano (ADA) market to over 100 million people who were previously unable to access this asset. Cardano (ADA) checked all of the boxes required to be listed in Japan, a country that takes its cryptocurrency laws very seriously. Only a handful of cryptocurrencies have been approved to be listed on exchanges in Japan, including Bitcoin and Ethereum. Related Reading | Cardano (ADA) Receives Approval To Be Listed In Japan This listing put the digital asset on track to grow in value given the number of potential investors that this meant for the project. At the time of listing, the digital asset had not reacted much to the news. Probably owing to the decreased momentum in the crypto market at that point. Now, the broader market seems to be catching up with ADA. Run-Up To $2.20 Imminent? The current run-up puts the price of Cardano (ADA) on a track to a complete bull run leading to a new all-time high price. Continuous upwards movement shows that the rally is not losing steam at any time soon. Dips following the increase in price have been tiny, which have in turn led to an even higher price movement upwards. ADA price moves breaks $1.70 | Source: ADAUSD on TradingView.com Indicators continue to point to major bullish sentiment surrounding the asset. An asset that has over 70% of its entire circulating supply staked ahead of the upgrade that brings smart contracts to the network. Investors remain faithful as hold sentiments continue to climb across the community. Cardano (ADA) is currently trading at $1.7842 at the time of this writing, moving closer to $2.0. The market cap currently sits at $57 billion, up 13% in the past 24 hours, with a fully diluted market cap of $80 billion. Featured image from Fintechs.fi, chart from TradingView.com

PREFACE Obviously this is dependent on tax laws in your specific country. This post is primarily about the US and other countries with similar taxation laws. WHAT HAPPENED In the 2017 bull run, people saw crazy gains (10x-100x) and then traded without considering the taxable events and liabilities being created. Then when the 2018 crash…
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Titan Crypto is attempting to bring professionally managed crypto portfolios to retail investors. The launch of the new offering coincides with a dramatic price rally for crypto assets.

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The returned sum represents only a minor portion of the over $600 million stolen from Poly Network.