Category: Treasury


Blacklisted Suex Addresses Received Over $900 Million in Crypto, Report Reveals


Blacklisted Suex Addresses Received Over $900 Million in Crypto, Report RevealsCryptocurrency addresses allegedly used by Russian exchange Suex, recently placed under U.S. sanctions, have received more than $934 million in crypto assets, blockchain analysis suggests. According to the Treasury Department, over 40% of the platform’s transactions involved criminal actors. A Suex co-founder has denied any illegal activity. Sanctioned Crypto Broker Suex Processed $370 Million of […]


US Sanctions Russian Crypto Broker Suex for Laundering Millions in Illicit Funds


US Sanctions Russian Crypto Broker Suex for Laundering Millions of Illicit FundsThe U.S. Treasury Department has blacklisted Suex, a cryptocurrency broker based in Russia, for its money laundering activities. The platform is suspected of processing hundreds of millions of dollars in crypto transactions related to scams, ransomware attacks, darknet markets, and the infamous BTC-e exchange. OFAC Adds Russian Crypto OTC Exchange Suex to Blacklist The Office […]



The 50th Anniversary of ‘Nixon Shock:’ How Suspending the Dollar’s Convertibility With Gold Fueled Today’s Fiat World


The 50th Anniversary of ‘Nixon Shock:’ How Suspending the Dollar’s Convertibility With Gold Fueled Today’s Fiat WorldApproximately 50 years ago today, Americans were introduced to ‘Nixon Shock’ when the 37th president of the United States suspended the convertibility of the U.S. dollar into gold. Since this point in time, the U.S. economy has never been the same as many believe Richard Nixon ushered in a new era of uncontrollable fiat currency […]


Multi-Billion Dollar Hedge Fund Goldentree Is Reportedly Adding Bitcoin to Its Balance Sheet


Multi-Billion Dollar Hedge Fund Goldentree Is Reportedly Adding Bitcoin to Its Balance SheetThe hedge fund Goldentree, a firm with $41 billion in assets under management (AUM) has reportedly added the leading crypto asset bitcoin to its balance sheet. Unnamed sources detail that the American asset management firm leveraged bitcoin to diversify from traditional debt investment strategies. The wealth management firm allegedly has been looking for staff that […]


Compound Launches Treasury to Introduce Institutions to Defi


Compound Launches Treasury to Introduce Institutions to DefiCompound, one of the leading defi-based protocols, is launching a new service called Treasury. Compound’s Treasury is a new product designed to help institutions enter the defi space. Launched in partnership with Circle and Fireblocks, it skips the uber astounding rates conventional defi protocols offer. However, it seeks to offer stable revenue for companies looking […]



Biden Administration Looking to Increase Cryptocurrency Oversight to Protect Investors, Prevent Illicit Transactions


Biden Administration Looking to Increase Cryptocurrency Oversight to Protect InvestorsThe Biden administration is reportedly looking to increase oversight of the crypto market with the aim to protect investors and prevent illicit transactions. White House officials, lawmakers, and central bankers have had several meetings on cryptocurrency regulation amid recent price swings of crypto assets. Biden Administration Discussing Crypto Regulation The Biden administration, lawmakers, and central […]


Bank of England Governor Bailey Says Cryptocurrencies Are ‘Dangerous’


Bank of England Governor Bailey Says Cryptocurrencies Are ‘Dangerous’Known for his reluctant stance on decentralized money, the Governor of Bank of England (BOA), Andrew Bailey, has recently taken his anti-crypto rhetoric up a notch. Speaking at a meeting with lawmakers in London, Bailey stated that cryptocurrencies are “dangerous.” Andrew Bailey Remains Sceptical About Cryptos “Crypto-assets,” as the central bank’s official labels bitcoin and […]


Rich Dad Poor Dad’s Robert Kiyosaki Urges Crypto Investors to Buy the Dip, Says ‘Stop Whining and Take Action’


Rich Dad Poor Dad's Robert Kiyosaki Urges Crypto Investors to Buy the Dip, Says 'Stop Whining and Take Action'Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” says now that bitcoin is “crashing,” it is a buying opportunity, especially for those who said that they could not afford it before. Alternatively, he said they can “Buy coins that outperform bitcoin for pennies,” reiterating that the Fed, Treasury, and Biden are the problems, […]


US Treasury Unveils Biden’s Proposed Tax Measures — Cryptocurrency Transfers Over $10,000 to Be Reported to IRS


US Treasury Unveils Biden's Proposed Tax Measures — Cryptocurrency Transfers Over $10,000 to Be Reported to IRSThe U.S. Department of the Treasury has announced measures to crack down on tax evasion involving cryptocurrencies as part of President Joe Biden’s proposed tax compliance measures. Among the measures is a requirement for businesses that receive crypto assets with a fair market value of more than $10,000 to report transactions to the IRS. Treasury […]



Mogo Adds 146 ETH to Firm’s Balance Sheet, Plans to Turn 5% of Its Portfolio Into Crypto Assets


Mogo Adds 146 ETH to Firm's Balance Sheet, Plans to Turn 5% of Its Portfolio Into Crypto AssetsOn Tuesday, the Nasdaq-listed Canadian company Mogo revealed the firm has purchased 146 ether at an average price of $2,780. The move follows the firm’s corporate investment in bitcoin, as well as offering bitcoin rewards for the company’s mortgage and card clients. The company plans to keep 5% of its balance sheet assets in digital […]


Bank of England and HM Treasury Launch a Central Bank Digital Currency Taskforce


Bank of England and HM Treasury Launch a Central Bank Digital Currency TaskforceHer Majesty’s Treasury and the Bank of England have revealed the establishment of a central bank digital currency (CBDC) taskforce. According to the announcement, the group’s purpose aims to explore a potential UK CBDC. UK Entities Invoke a CBDC Taskforce to Explore a Central Bank-Issued Digital Currency Central bank digital currencies (CBDCs) have been popping […]


Miami-Dade Officials Hope to Launch a Crypto Task Force, Residents Could Pay Taxes in Bitcoin Soon


Miami-Dade Officials Hope to Launch a Crypto Task Force, Residents Could Pay Taxes in Bitcoin SoonBack in mid-February, Bitcoin.com News reported on Miami’s Mayor Francis Suarez supporting the idea of the city holding bitcoin in the treasury and allowing tax payments in bitcoin as well. On April 15, 2021, reports show that the city may introduce the tax payments concept soon, as the District 8 county commissioner Danielle Cohen Higgins […]


Canadian Condo Company Invests in Bitcoin, Hopes to Become ‘Self-Sustaining Real Estate’


Canadian Condo Company Invests in Bitcoin, Hopes to Become 'Self-Sustaining Real Estate'A few months ago a trend started where well known businesses like Microstrategy, Square, and Tesla started adding bitcoin to their company balance sheets. Now a Canadian condominium company has decided to invest in bitcoin in order to replace some of the firm’s reserve fund with crypto. Thornton Place Condominium Corporation leveraged the cryptocurrency exchange […]



Multibillion Dollar Fund Manager Ruffer Sees Long Trend of Institutional Bitcoin Adoption


Multibillion Dollar Fund Manager Ruffer Sees Long Trend of Institutional Bitcoin AdoptionBritish investment management firm Ruffer has revealed that its bitcoin holdings now account for about 3% of its entire portfolio of approximately $29 billion. The firm believes that we are “at the foothills of a long trend of institutional adoption and financialization of bitcoin.” A Long Trend of Institutional Bitcoin Adoption Ruffer provided an update […]


Uniswap’s founder wants your advice on how to spend $500 million


With Uniswap's treasury now worth more than $500 million, creator Hayden Adams has asked the crypto community for suggestions on how to spend it.

Unsiwap creator Hayden Adams has taken to crypto-twitter to source feedback on how the DEX should allocate its $500 million governance treasury.

With Uniswap’s native UNI token currently trading at $9.30 after rallying to break its previous all-time high of $7.10 last week, the vested share of Uniswap’s warchest is now valued at more than half a billion dollars.

“What are some of the most impactful ways governance can allocate this UNI?” Adams asked the community.

Adams received a variety of suggestions, including a request for a second UNI airdrop to recent Uniswap users, a call for 90% of Uniswap’s governance tokens to be burned, and tongue-in-check proposals for the funds be invested in hiring the “shilling” services of various Twitter-users.

Cihan Oztunc, product manager at the New York Stock Exchange, recommended Uniswap launch a VC firm to invest the treasury into promising new crypto projects:

Meanwhile, Marquet exchange co-founder, Emiliano Bonassi, tweeted that Uniswap should invest in accelerating the development of Layer 2 scaling solutions.

DeFi commentator Samuel Shadrach asserted Uniswap should buy up a majority share of SushiSwap’s supply and try to force a merger between the two platforms.

In September, Uniswap suddenly unveiled its native UNI token, with 43% of the token’s one billion supply retained by the project’s governance treasury for distribution over “an ongoing basis through contributor grants, community initiatives, liquidity mining, and other programs.”

In its four year token release cycle, the protocol will vest to the governance treasury on a continuous basis starting at 40% of the total allocation of 430 million UNI in the first year and reducing to 10%, or 43 million UNI by year four.



Onchain Researchers Suspect Chinese Government Sold Plustoken’s Billion-Dollar Bitcoin Hoard Last Year


Onchain Researchers Suspect Chinese Government Sold Plustoken’s Billion-Dollar Bitcoin Hoard Last YearA number of masterminds from the Plustoken scam were sentenced to 11 years in prison for defrauding cryptocurrency investors. Last week, on November 19, a court ruling had shown the Chinese government said that it seized over $4 billion in crypto assets from the Plustoken scam. Meanwhile, onchain sleuths believe the Chinese government may have […]

The post Onchain Researchers Suspect Chinese Government Sold Plustoken’s Billion-Dollar Bitcoin Hoard Last Year appeared first on Bitcoin News.


Fed Chairman Claims ‘Now Is Not the Time’ to Worry About the Federal Budget


Fed Chairman Claims 'Now Is Not the Time' to Worry About the Federal BudgetAccording to the Federal Reserve Chairman, Jerome Powell, the road to economic recovery is far from over and the Covid-19 pandemic has fueled the tragedy. During his speech at the National Association for Business Economics annual meeting, Powell highlighted that the federal budget was essentially a disaster, but stressed that “now is not the time […]

The post Fed Chairman Claims ‘Now Is Not the Time’ to Worry About the Federal Budget appeared first on Bitcoin News.



Polkadot treasury established to fund projects ‘that give traction to the network’


Polkadot has launched the Polkadot Treasury to fund proposals from developers within the community and multiple proposals have already been submitted.

Blockchain platform Polkadot (DOT) is the latest to invest back into its developer community with the launch of the Polkadot treasury. Run by community-elected council members, the pool will fund as many new community projects as possible.

The treasury has already received multiple proposals related to infrastructure development, operations projects, and software development, by teams from Redspot, Centrifuge, Polkascan, and Encointer.

The proposals to receive Treasury funding can be submitted by any holders of Polkadot’s native token DOT and will be approved based on their ability to “give traction to the network.” Proposals may relate to infrastructure deployment, network security operations, ecosystem provisions, software development, marketing activities, and community and outreach events.

In addition to proposal funding, the treasury will also support community efforts such as document translation, Polkadot-related content creation, educational videos, and general community support.

The proposals must be submitted on the Polkadot blockchain, however, in order to minimize on-chain storage, they will not contain any contextual information. Proposers will need to take advantage of off-chain avenues to explain the bulk of the project.

A deposit of 100 DOT or 5% of the total submission is required for each proposal submission in order to avoid low quality or spam proposals. Deposits will be returned to users when their proposal is approved mor burned if rejected.

Should the Treasury not spend all funds within a budget period, currently set at 24 days, 1% of the funds will be burned. The Treasury is funded from slashing, transaction fees, staking inefficiencies, and parathreads.

Polkadot is not the only project focusing on supporting its developer community through direct financial support. Gitcoin Grants is a platform for Ethereum projects to seek funding through matching contributions from Gitcoin’s QF sponsored donors and the wider public. Popular DeFi project Yearn Finance surpassed the Ethereum Foundation this week as the lead contributor in the most recent Round 7 of the Gitcoin Grants with $155,000 committed — bringing the total matching pool to $410,000.

Inspired by the move, Synthetix went one better by contributing an undisclosed amount that reportedly surpasses both the Ethereum Foundation and Yearn Finance’s contributions to mark a new all time high.

This contribution (the highest we've ever received, even higher than the @iearnfinance that was the previous ATH) was funded by SynthetixDAO.

They'd like to encourage any other teams to accept @AndreCronjeTech 's challenge and give back to public goods!

— Gitcoin (@gitcoin) September 17, 2020


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