CRYPTO HOT NEWS 17/08/2022
USDT market cap up by $2 billion following Tornado Cash debacle
Tether’s market capitalization has increased by nearly $2 billion and has reversed a three-month downtrend, while USDC sees a drop in value after the U.S. imposed sanctions against Tornado Cash. The USDC decline has been noted with a correlation being drawn between the decline of the USDC market cap and the increase in the capitalization of USDT.
BlockFi tops the Inc. 5000 list with almost 250,000% revenue growth in three years
Inc. magazine has named BlockFi the fastest growing company in the United States in 2022. It experienced 245,616% growth, a lead of more than 99,000% over the second-place company. In the fast-moving world of crypto, three years is practically an epoch, and BlockFi’s achievement is especially notable after a number of dramatic turns for the company and the industry this year.
Brazil brokerage giant with 3.6M clients launches BTC and ETH trading
Brazilian brokerage giant XP Inc has officially launched its crypto trading platform XTAGE in Brazil, bringing a potential 3.6 million users to the crypto markets. Developed in partnership with major American stock exchange Nasdaq and crypto custody firm BitGo, XTAGE is fully integrated into the XP ecosystem, allowing users to make crypto trades on its existing app.
Bank of China unveils new e-CNY smart contract test program for school education
the state-owned Bank of China announced a new program In a combined partnership with local education and financial authorities, parents residing in the city of Chengdu will be able to enroll their children in after-school using the digital yuan central bank digital currency, or e-CNY.
IRS takes out John Doe summons on crypto prime dealer SFOX to find tax cheat customers
The Central District of California federal court entered an order to authorize the United States Internal Revenue Service (IRS) to serve SFOX, a Los Angeles-based cryptocurrency prime dealer. The IRS filed suit to receive the order, which directs SFOX to reveal the identities of customers who are U.S. as analysis finds that half of taxes on crypto go unpaid.
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