TL;DR Breakdown UBS aims to announce that its rescue of Credit Suisse will not rely on funding from Swiss taxpayers, as it faces political backlash ahead of national elections. UBS executives are confident in keeping losses below SFr5 billion and intend to avoid using the SFr9 billion backstop provided by the Swiss government. The decision not to tap into taxpayers’ money will be driven by the business case and UBS’s commitment to limiting dependence on state support, while also avoiding potential limitations on returning excess capital to shareholders. Description UBS Group AG, Switzerland’s largest bank, is set to make a decisive statement next month, clarifying that its rescue of Credit Suisse will not involve funding from Swiss taxpayers, according to a report by the Financial Times on Sunday. However, the bank intends to alleviate the mounting political pressure surrounding the deal, particularly with national … Read more UBS Group AG, Switzerland’s largest bank, is set to make a decisive statement next month, clarifying that its rescue of Credit Suisse will not involve funding from Swiss taxpayers, according to a report…

TL;DR Breakdown Belarus is planning to ban peer-to-peer (P2P) cryptocurrency transactions to combat the high rate of cybercrime in the country. The Ministry of Foreign Affairs (MFA) of Belarus aims to eliminate illicit activities and money laundering by restricting individuals to registered exchanges. The move contrasts with Belarus’s previous support for cryptocurrencies, but skeptics question the effectiveness of enforcing the ban and the impact on the crypto community. Description The Belarusian government has announced its intention to tackle the rising rate of cybercrime in the country by proposing legislation to ban peer-to-peer (P2P) transactions in cryptocurrencies such as Bitcoin. The Ministry of Foreign Affairs (MFA) of the Republic of Belarus made an official announcement on July 2, outlining the new legislation’s objectives and its … Read more The Belarusian government has announced its intention to tackle the rising rate of cybercrime in the country by proposing legislation to ban peer-to-peer (P2P) transactions in cryptocurrencies such as Bitcoin. The Ministry of Foreign Affairs (MFA) of the Republic of Belarus made an official announcement on July 2, outlining the new legislation’s objectives…

TL;DR Breakdown Singapore’s MAS unveils new laws to enhance consumer protection and safeguard the integrity of the cryptocurrency industry. Singapore’s cryptocurrency exchanges and wallet providers must retain client assets in a separate trust for increased security. Token lending and staking will be prohibited for retail customers to protect against potential financial losses and unethical practices. Description Singapore’s Monetary Authority (MAS) has unveiled new laws for cryptocurrency service providers to enhance consumer protection and safeguard the integrity of the digital asset industry. The regulations, published on Monday, follow a public consultation held in October 2022, which garnered widespread support for stricter oversight. Under the new framework, cryptocurrency exchanges and wallet providers must … Read more Singapore’s Monetary Authority (MAS) has unveiled new laws for cryptocurrency service providers to enhance consumer protection and safeguard the integrity of the digital asset industry. The regulations, published on Monday, follow a public consultation held in October 2022, which garnered widespread support for stricter oversight. Under the new framework, cryptocurrency exchanges and wallet providers must retain client assets in a separate trust by the end of…

TL;DR Breakdown According to recent data from dappGambl, approximately 10% of the followers of crypto influencers and companies are fake. In April 2023, Elon Musk introduced Twitter Blue, a subscription service priced at $8 per month, with the intention of increasing the platform’s revenue while making it financially unviable for bots and fake accounts to operate.  dappGambl suspected that the presence of fake followers is related to the popularity of the tokens. Description Following Elon Musk’s takeover of Twitter and the introduction of changes aimed at combating fake accounts, the issue of fake followers continues to persist on the platform. According to recent data from dappGambl, approximately 10% of the followers of crypto influencers and companies are fake. In April 2023, Elon Musk introduced Twitter Blue, a subscription … Read more Following Elon Musk’s takeover of Twitter and the introduction of changes aimed at combating fake accounts, the issue of fake followers continues to persist on the platform. According to recent data from dappGambl, approximately 10% of the followers of crypto influencers and companies are fake. In April 2023, Elon…

TL;DR Breakdown Solana co-founder Anatoly Yakovenko proposes using Ethereum as a layer-2 solution for the Solana blockchain, sparking discussions within the crypto community. Yakovenko highlights the potential benefits of this integration, including secure asset recovery and interoperability between the two platforms. Yakovenko advises caution regarding leasing or speculative actions with Solana assets on Ethereum, emphasizing asset safety. Description Solana Labs’ co-founder, Anatoly Yakovenko, recently sparked discussions with his intriguing proposal about Ethereum‘s potential as a layer-2 (L2) solution for the Solana blockchain. This amalgamation of two prominent platforms brings forth a range of advantages and disadvantages, captivating the attention of experts and enthusiasts. In this article, we delve into Yakovenko’s ideas and explore … Read more Solana Labs’ co-founder, Anatoly Yakovenko, recently sparked discussions with his intriguing proposal about Ethereum‘s potential as a layer-2 (L2) solution for the Solana blockchain. This amalgamation of two prominent platforms brings forth a range of advantages and disadvantages, captivating the attention of experts and enthusiasts. In this article, we delve into Yakovenko’s ideas and explore the implications of employing Ethereum as an L2 protocol…

TL;DR Breakdown Crypto exchange Huobi has fixed its data breach after a massive data leak that allegedly put users’ funds at risk since June 2021 The exchange risked exposure of its sensitive information, such as VIP user data and technical infrastructure of the exchange However, it took months for the exchange to respond to the white hat hacker Description Crypto exchange Huobi has fixed its data breach after a massive data leak that allegedly put users’ funds at risk since June 2021. The data leak had information on almost all the over-the-counter (OTC) transaction information from 2017 to 2021, with some of the data being VIP user data and information on the technical infrastructure … Read more Crypto exchange Huobi has fixed its data breach after a massive data leak that allegedly put users’ funds at risk since June 2021. The data leak had information on almost all the over-the-counter (OTC) transaction information from 2017 to 2021, with some of the data being VIP user data and information on the technical infrastructure of the exchange. Huobi risked exposure of its…

TL;DR Breakdown The robot conductor EveR 6 co-conducted a performance at the National Theatre of Korea, showcasing significant progress in robotics and music. Using motion capture technology, EveR 6 learned the art of conducting by mimicking the baton movements of a human conductor. The robot demonstrated precise movements and synchronization, captivating the audience with humanoid features. Description In a groundbreaking event that captivated audiences at the National Theatre of Korea, a robot named EveR 6 took centre stage alongside conductor Soo-Yeoul Choi to co-conduct the mesmerizing performance of “Absence.” The android co-conductor, created by the Korea Institute of Industrial Technology (KITECH), marked a significant milestone in robotics and music. Demonstrating its humanoid … Read more In a groundbreaking event that captivated audiences at the National Theatre of Korea, a robot named EveR 6 took centre stage alongside conductor Soo-Yeoul Choi to co-conduct the mesmerizing performance of “Absence.” The android co-conductor, created by the Korea Institute of Industrial Technology (KITECH), marked a significant milestone in robotics and music. Demonstrating its humanoid features, EveR 6 showcased a face, torso, two arms, a…

TL;DR Breakdown India has one of the most robust crypto taxation systems, with the introduction of crypto taxes on their Annual Information Statement (AIS) forms. The Virtual Digital Asset tax class went into effect on July 1, 2022, after the provisions in India’s Budget 2022. The AIS is the extension of Form 26AS. Description Is crypto taxed in India? Yes, virtual digital assets, or crypto assets, are taxed in India after the Union Budget 2022. For the first time, the government officially termed digital assets, including crypto assets, under “Virtual Digital Assets.”  And now, the Indian Tax Portal, known as the Account Information System (AIS), has undergone a significant … Read more Is crypto taxed in India? Yes, virtual digital assets, or crypto assets, are taxed in India after the Union Budget 2022. For the first time, the government officially termed digital assets, including crypto assets, under “Virtual Digital Assets.”  And now, the Indian Tax Portal, known as the Account Information System (AIS), has undergone a significant upgrade that brings forth a new capability to track and monitor digital currency…

TL;DR Breakdown Cristiano Ronaldo introduces his second NFT collection, “ForeverCR7: The GOAT,” on Binance, showcasing significant goals from his illustrious career. The collection includes super rare NFTs offering unique benefits, such as personally signed jerseys, enticing collectors and football fans to engage with the exclusive digital memorabilia. Description Football icon Cristiano Ronaldo has once again captured headlines, but this time for his foray into the world of Non-Fungible Tokens (NFTs). The Portuguese superstar has launched his second NFT collection, titled “ForeverCR7: The GOAT,” on the renowned Binance NFT marketplace. With a focus on celebrating Ronaldo’s remarkable career achievements, this collection presents 20 distinct … Read more Football icon Cristiano Ronaldo has once again captured headlines, but this time for his foray into the world of Non-Fungible Tokens (NFTs). The Portuguese superstar has launched his second NFT collection, titled “ForeverCR7: The GOAT,” on the renowned Binance NFT marketplace. With a focus on celebrating Ronaldo’s remarkable career achievements, this collection presents 20 distinct designs, each capturing a significant goal from his illustrious football journey. Offering a range of rarity levels, including highly…

TL;DR Breakdown Gemini CEO, Cameron Winklevoss, criticizes the Grayscale Bitcoin Trust, labeling it a “toxic product” due to trading discounts and high fees. Winklevoss urges the SEC to reconsider its denial of Gemini’s spot Bitcoin ETF application and emphasizes the need for more accessible and regulated investment options. Description Cameron Winklevoss, CEO of Gemini, a prominent cryptocurrency exchange, recently took to Twitter to express his frustration with the US Securities and Exchange Commission (SEC) regarding the rejection of Gemini’s application for a spot Bitcoin Exchange-Traded Fund (ETF). In a series of tweets, Winklevoss referred to the Grayscale Bitcoin Trust (GBTC), a popular investment vehicle, … Read more Cameron Winklevoss, CEO of Gemini, a prominent cryptocurrency exchange, recently took to Twitter to express his frustration with the US Securities and Exchange Commission (SEC) regarding the rejection of Gemini’s application for a spot Bitcoin Exchange-Traded Fund (ETF). In a series of tweets, Winklevoss referred to the Grayscale Bitcoin Trust (GBTC), a popular investment vehicle, as a “toxic product.” He criticized the SEC’s decision, arguing that it has deprived US investors of the…