Blockchain DXB: Crypto & Coffee at 8 ☕ 07th Aug 🔴 🥶Fear & Greed Index - FEAR 💰Binance $86M tax - 👀 India Ronin Bridge Pause -$9M hack 🔴Tokenizing Olympic Medal 👀 Reserve Bank of India - CBDC
07th Aug: Crypto & Coffee at 8
🥶Fear & Greed Index - FEAR 💰Binance $86M tax - 👀 India Ronin Bridge Pause -$9M hack 🔴Tokenizing Olympic Medal 👀 Reserve Bank of India (RBI) Bank of India -CBDC has Google Pay, Amazon Pay, and Walmart-backed Phonepe
🥶 KAMALA KRASH - 05/08/24
🎙️Check out the Blockchain DXB episode on Crypto Bloodbath - Black Monday via Spotify here https://lnkd.in/d6Pz2FBH The Fear and Greed Index is FEAR via CoinMarketCap. Since the last 24 hours, the largest gainers in the industry right now are Polkadot Ecosystem and Base meme cryptocurrencies.
💰 Binance is contesting an $86 million tax notice from India's Directorate General of Goods and Services Tax Intelligence (DGGI) for allegedly not paying GST on transaction fees collected from Indian customers between July 2017 and March 2024. This is the first time the DGGI has issued such a notice to an international crypto exchange. Binance has stated it is reviewing the details and cooperating with Indian authorities while emphasizing its commitment to compliance. The notice follows a $2.2 million fine in June 2024 for anti-money laundering violations.
- Binance has acknowledged the notice and stated that it is reviewing the details while fully cooperating with Indian authorities. Info via The Times Of India https://t.ly/TCCHe
😱 White hacker $9M : Ronin Bridge, a prominent crypto bridging service, was paused after $9 million in tokens were drained in what appears to be a whitehat hack. The co-founder, @Psycheout86, stated on X (formerly Twitter) here https://rb.gy/72odz3 that the bridge, which secured over $850 million, is safe despite the incident. The pause was due to reports of a potential Miner Extractable Value (MEV) exploit. "Whitehat" hackers are those who find security vulnerabilities to help improve software security. Ronin's RON tokens remained stable, showing a 7.4% increase in the past 24 hours amid a general market rise.
🔥Media personality Caitlyn Jenner is launching a new crypto project that will allow investors to own a digital piece of her 1976 Olympic gold medal. The gold medal will be represented by an NFT on the Ethereum layer-2 network Base, with a tradable token called MEDAL launching alongside. The project will involve JENNER token holders in some way, Jenner told Decrypt https://shorturl.at/IL38d
👀 Google Pay, Amazon Pay India, and Walmart-backed PhonePe are reportedly looking to join India's central bank digital currency (CBDC) initiative, led by the Reserve Bank of India (RBI). Other fintech firms like Cred and Mobikwik are also interested in participating. These companies aim to enable transactions using the e-rupee. The initiative seeks to increase transaction volumes by extending access beyond banks to major payment platforms.
🟠Two UAE news
⚡ stc Bahrain: A New Blockchain Network on Avalanche Bridging Real-World and Web3 Innovation with a New Blockchain Network
⚡ Emirati-born Birbal AI unleashes revolutionary tech hiring solutions
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