Good News For German Crypto Investors, Spot Trading Surged In April + More News

Source: iStock/Hamid Ebrahimi

Get your daily digest of crypto-asset and blockchain-related news – by investigating stories that fly under the radar in today’s crypto news.


Tax news

  • German taxpayers who sell their bitcoin (BTC) or ethereum (ETH) after one year of holding them will be exempt from taxes, according to a tax interpretation of German’s crypto Ministry of Finance. Work on crypto taxation will continue and a follow-up letter on cooperation and registration obligations is already in the works, they added.

Investment News

  • Spot trading volumes on centralized exchanges rose 6.89% to $1.73 billion in April, with a daily high of $80.3 billion traded on April 1, according to a report from the provider. digital asset data CryptoCompare. Meanwhile, derivatives volumes fell 9.07% to $3.08 billion, reaching a market share of 64.0%, they added.
  • Crypto Intelligence Company On-chain analysis Secured $170M in Series F Funding Round Led by SWF GIC, The information reported. The company’s valuation hit $8.6 billion at the close of the round.
  • media company Town Square Media revealed in a file in the United States Security and Exchange Commission (SEC) that they invested around $5 million in BTC during the first quarter of this year.
  • investment firm hive spirit and blockchain project Algorand (ALGO) announcement the acquisition of the music platform Napster. They added that more details will follow.
  • Web3 community building tool Emphasize raised $11 million in a seed funding round led by Haun Ventures at an undisclosed valuation. The project allows users to create a community on the blockchain, with their own non-fungible tokens (NFTs), without deep technical knowledge, they explained.
  • Web3 development platform Moral confirmed it raised $40 million in a Series A funding round.
  • Crypto exchange based in Nigeria and Kenya MARA announcement it raised $23 million in a funding round led by globally distributed, FTXCoinbase and others.

Mining News

  • internet company The9 Limited announced that its wholly owned subsidiary NBTC and Kyrgyz company SolarCoin has entered into a purchase agreement for a blockchain computing center in Kyrgyzstan. The9 will get an electrical capacity of 31.5MW for the deployment of its 7,500 Antminer S19J Bitcoin mining machines contributing around 675PH/s of hash power. Construction work is expected to be completed and the rigs in operation by the end of July 2022, they added.
  • Riot Blockchain reported revenue of $79.8 million in the first quarter, up 244% from the prior year quarter, with 1,405 BTC mined in the first quarter of 2022. In the same quarter, they also increased mining revenue by 150% to a record $57.9 million, from $23.2 million for the same three-month period in 2021.
  • CleanSpark reported second-quarter revenue of $41.6 million and adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of $22.5 million. Quarterly revenue quadrupled from the same period last year to $8.1 million, while adjusted EBITDA in 2021 was $1.9 million.

Regulatory News

  • International organization the Financial Stability Board is “well placed” to design a global regulatory framework for crypto-assets, its chairman Klaas Knot said at the annual meeting of the International Swaps and Derivatives Association to Madrid. He wouldn’t have to start from scratch, he said, and would first consider existing laws that already apply to crypto.

Trade news

  • Coinbase discontinued commercial service in India due to “informal pressure” from the Reserve Bank of India, said the CEO of the crypto exchange during an earnings call. Brian Armstrong added that while they are interested in knowing if they violated the Supreme Court’s ruling that crypto cannot be banned, their goal is still to work with the central bank and revive.

DeFi News

  • Decentralized Finance (DeFi) Trading and Staking Protocol Banking (TNB) announcement the launch of Bancor 3, which has new features intended to make staking easier.

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Good News For German Crypto Investors, Spot Trading Surged In April + More News

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