Ethereum lead developer saved Avalanche from over $24B ecosystem crash
Ethereum developer Péter Szilágyi said he identified a bug in Avalanche ‘s PeerList package back on March 29.He said on Sept.8 that he reached out to Ava Labs at the time to warn them about a possible exploit that could have cost Avalanche over $24 billion.SEC Chairman wants the CFTC to regulate Bitcoin, Ethereum U.S.
Securities and Exchange Commission (SEC) Chair Gary Gensler said he wanted to give the Commodity Futures Trading Commission (CFTC) greater authority without “sacrificing the SEC’s power over the market.”
Gensler said it was essential to achieve balance in regulatory oversight.However, he added that the SEC has to ensure that CFTC’s high authority doesn’t “inadvertently undermine securities laws” in the U.S.Investor Mike Alfred takes shots at HEX as it slides below $0.04
HEX fell below $0.04 for a short while on Sept.8.
Even though the token started picking up again, it still lost 85% of its value year-to-date.The $0.04 marked a new low for the token, which is 92% lower than its all-time high of $0.51.HEXUSDT
The HEX project was launched in 2019 and defines itself as the first blockchain certificate of deposit token.However, the community is discussing if the HEX project is a scam or not.
Following the fall, Alfred stressed that HEX was a “brilliant scam, which expertly uses FOMO marketing tactics, builds a cult-like group around itself, and uses deceptive numbers and comparisons to make itself seem legitimate.” CryptoSlate Exclusive
Koinly’s head of tax, Tony Dhanjal, spoke with CryptoSlate and said that the merge is unlikely to create a taxable result unless a hard fork occurs.
In the case of a hard fork, users could be taxed depending on where they live.Research Highlight Research: Cryptocurrencies at risk as new U.K.Prime Minister contends with economic challenges
Liz Truss, who appeared crypto-friendly during the campaign, became the U.K.’s new Prime Minister (PM) with a 57.4% majority vote on Sept.5.
However, the current situation indicates she might have taken on a lot to handle the cost-of-living crisis, double-digit inflation, and possible recession in 2023.
German crypto tax policy one of the best in the world – Coincub report
According to Coincub’s annual tax ranking, Germany offers the best tax rates in the world.The country doesn’t require its citizens to pay capital gains tax on assets held over a year so that it can retain its domestic population.
Germany also has significantly high crypto adoption rates, which are also prone to increase due to Dubai’s friendly tax rates.
News from around the Cryptoverse The White House wants to control mining
The Biden-Harris administration published a report called “Climate and Energy Implications of Crypto-Assets in the United States,” where they explained the environmental and power-consumption issues of cryptoassets.
The report called for proper mining standards that can serve to minimize environmental damage and contributes to sustainability on a national scale.Coinberry loses 120 Bitcoins due to a glitch
Toronto-based crypto exchange Coinberry lost 120 Bitcoins due to a technical glitch, As reported by Financial Post.
The exchange filed a lawsuit, asking all 50 users to return their ill-received Bitcoins.Coinberry also included the crypto exchange giant Binance’s name in the lawsuit to ask for assistance after detecting that some users immediately transferred their new Bitcoins to their Binance accounts.Crypto Market Biggest Losers (24h) Get an Edge on the Crypto Market 👇
Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.
On-chain analysis .
