Crypto News
41% Spike in Cryptocurrency Donations During Bear Market: Here’s What You Need to Know
Cryptocurrency donations are beginning to become a new trend. According to a report by The Giving Block, cryptocurrency philanthropy remained strong in 2022, despite the market collapse. For every dollar of Bitcoin’s market value in 2022, cryptocurrency donors gave $172. In comparison to 2021, the statistic reflects a 41% rise. A total of $125 million worth of crypto have been donated via The Giving Block to date, with the largest donation processed by the platform being a whopping $9.4 million. The average size of a tax-optimized crypto donation is $6295, and the average cryptocurrency donation was roughly 31 times bigger than the typical internet donation made by charitable organizations. In 2022, 1052 non-profits joined The Giving Block to fundraise crypto, with the average donation per non-profit being $26000. USDC was the most donated crypto asset in 2022. Despite the sharp fall in the cryptocurrency market starting in mid-November 2021, benefactors to the industry donated millions of dollars. As more people have begun using crypto assets, more organizations have opened their doors to the emerging asset class, with the number of charities that accepted cryptocurrency donations increasing from 12 in 2019 to 49 in 2022. The Giving Block believes that crypto charity is ready for further growth when the bull market picks up. #CryptoPhilanthropy #Charity #CryptoDonations #CryptoGiving
You can read more about this topic here: Watcher Guru: Cryptocurrency Donations Increased by 41% During Bear Market
The post 41% Spike in Cryptocurrency Donations During Bear Market: Here’s What You Need to Know first appeared on Byte Syze Crypto.
Tron founder and advisor to the exchange, Justin Sun, has stated that Huobi could get a Hong Kong crypto license in six to twelve months. Specifically, Sun told Coindesk that the exchange applied to become a virtual asset service provider (VASP) last week. Additionally, Sun discussed the process of the VASP application and his belief that the crypto exchange could have an answer by the end of the year. Huobi had recently relocated to Hong Kong, aiming to launch Huobi Hong Kong by the summer. Sun was asked about embracing potential competition in the Canadian market and noted the strict regulatory standards in the country, referring to the Caribbean, Hong Kong, and Japan. There has been no verification of other cryptocurrency exchanges that have applied for a similar license, however, Coindesk reported Sun’s expectation that five to six other exchanges could make the move.
This news is good for Huobi as they are in the process of obtaining a crypto license in Hong Kong, which would allow them to operate in the region and serve customers. Other exchanges may also apply for the license, and the grace period given to the exchange could provide them with the opportunity to get approval in the next six to twelve months.
#Huobi #HongKong #CryptoLicense #VASP #JustinSun
You can read more about this topic here: Watcher Guru: Justin Sun Says Huobi Could Get Hong Kong Crypto License in 6-12 Months
The post Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year first appeared on Byte Syze Crypto.
#CryptoSafety #RugPulls #DefiExploits #ProtectInvestors
You can read more about this topic here: Watcher Guru: Crypto Rug Pulls Outvalued Defi Attacks in May, $45 Million Lost
The post Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May first appeared on Byte Syze Crypto.
The Commodity Futures Trading Commission (CFTC) has proposed a re-modelled rule-set for risk management as part of its effort to respond to the U.S. banking crisis. Commissioner Christy Goldsmith Romero highlighted the need for such regulations due to the risks posed by the emergence of technologies like crypto, AI, and cloud services. The CFTC’s advance notice of proposed rulemaking will be open for public comments for 60 days. The final version will then be voted upon. #CFTC #RiskManagement #Crypto #Regulations
You can read more about this topic here: Watcher Guru: Crypto: U.S. CFTC Looking to Change Risk Rules
The post CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry first appeared on Byte Syze Crypto.
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