Weekly Crypto Market News / 30 January – 5 February
- inBinance has launched a tax payment tool.
Binance Tax helps prepare tax returns, and the pilot version of the tool is available to customers from France and Canada.
Read more: Binance Tax launched to prepare crypto users for the tax season
- Ethereum developers have launched the Zhejiang testnet to check the withdrawal process from staking.
Discover more: beaconcha.in
- An educational Web3 platform has appeared in the MetaMask crypto wallet.
ConsenSys, a market-leading blockchain technology company, announced its newest initiative, MetaMask Learn. MetaMask Learn is a free-to-use resource available in 10 languages for anyone interested in learning about web3. It provides an interactive MetaMask UI environment to help onboard those new to self-custody and guides users through the most common topics to help them get started in web3.
Read more: ConsenSys Launches MetaMask Learn — The Next Step in Democratizing Web3
- MicroStrategy reported a quarterly loss of $ 249.7 million due to the revaluation of investments in BTC.
MicroStrategy is better known in recent years for being the largest public holder of bitcoin. The analysts expected $10.7 million in net income, which could have been the only quarterly profit following the fourth quarter of 2020.
According to the company, it has suffered a net loss due to digital asset impairment charges of $197.6 million after writing down bitcoin’s value, and the price has dropped over the period. However, the company sold 704 bitcoins in the fourth quarter, resulting in gains of $0.9 million.
Discover more: MicroStrategy reports a loss of $249.7 million for its fourth fiscal quarter
- The Ethereum Capella public testnet will be launched on February 7th for the Shanghai update. Buterin, it seems, is staking Ethereum himself, so he is in a hurry with the update to withdraw everything.
Read more: Official @TimBeiko on Twitter
- The Pantera Capital fund transferred part of the funds from BTC and ETH to altcoins.
The move comes as cryptocurrencies had seen a modest rally in January after last year’s rout when bitcoin lost more than 60% of its value. Pantera’s Liquid Token Fund fell 80% in 2022.
Read more: The Block: Pantera returns to altcoins after seeking haven in bitcoin, ether
- Binance has announced plans to launch the metaverse.
It will be possible to literally live on the stock exchange. “Nobody really knows what metaverse means. Everybody has a different concept of it.” – Changpeng (CZ) Zhao.
Read more: Recap: Product AMA With CZ and Mayur | Binance Blog
- Binance buys Gopax, a troublesome South Korean exchange.
Binance Holdings Ltd. has acquired a majority stake in the troubled South Korea-based cryptocurrency exchange GOPAX, returning the biggest digital-asset trading platform operator to a market it exited two years ago.
The purchase funding came from a Binance-led co-investment project called the Industry Recovery Initiative, to which Binance pledged $1 billion. Terms weren’t disclosed.
Read more: Binance Returns to South Korea’s Crypto Market Through Stake in GOPAX Exchange – Bloomberg
- The Signal proposal to re-peg with UST proposed by the LUNC community has passed. Signal proposals do not represent immediate technical consequences. In turn, Binance removed the risk warning from the LUNC and USTC trading page.
Find out more: Official @wublockchain on Twitter