Decrypt News

A ‘War on Rugs’ Has Been Declared Against Ethereum Creator Over SHIB Transfer

The Telegram group War on Rugs hates rug pulls. So, naturally, it's...trying to pull the rug out on Ethereum. The watchdog group, which says it's composed of developers and auditors, has created the Rug Ethereum (RETH) token in retaliation for Ethereum co-founder...

Argentina Orders Crypto Exchanges to Give Monthly Reports on Users

Argentina is updating its regulatory framework to include more controls on financial operations related to cryptocurrencies. As a result, Argentina's tax authority, AFIP, is demanding monthly reports on client data from crypto exchanges in the country, with the...

NBA Top Shot User Sues Dapper Labs, Claims NFT ‘Moments’ Are Securities

A Virginia woman named Jeeun Friel is suing the maker of NBA Top Shots, a type of NFT marketplace that lets consumers own unique basketball highlights. According to Friel, the NFTs in question are actually securities and their creator, Dapper Labs, harmed her and...

NFTs, Ethereum 2.0, Crypto Trading: Tax Day Is Monday—Are You Ready?

Monday, May 17, is Tax Day in the U.S., a full month later than normal for reasons related to the coronavirus pandemic. Yet even with extra time to file, some people just can't help but wait until the last minute to familiarize themselves with the U.S. tax code. And...

Ransomware Attacks Top $81 Million in Stolen Crypto This Year: Chainalysis

Ransomware attacks were responsible for at least $81 million in stolen crypto this year, according to the blockchain data company Chainalysis. That number is likely to rise, since Chainalysis tends to discover new criminal activity retroactively (the company...

Emily Ratajkowski NFT Sells for $175,000 at Christie’s

Emily Ratajkowski sold an NFT for $175,000 in an auction at Christie’s on Friday afternoon. The token is tied to an image called “Buying Myself Back: A Model for Redistribution,” which takes its title from a piece Ratajkowski wrote for The Cut late last year. In the...

Exclusive: Dogecoin Developers Say They’ve Been Working with Elon Musk Since 2019

Dogecoin developers have turned down funding from Elon Musk, choosing instead to tap his brain to make the cryptocurrency a greener, cheaper alternative to Bitcoin, Decrypt learned in an exclusive interview with one of its developers today. So far, the unlikely and...

Square Says It Has No Plans to Change Bitcoin Buying Strategy

The crypto-friendly digital payments company Square has no plans to change its investment strategy regarding Bitcoin, a company spokesperson has confirmed to Decrypt. The statement contradicts a report earlier today from Financial News, quoting from an interview with...

What is Proof of Stake? How it Differs From Proof of Work

Mining cryptocurrency is an energy-intensive business. But it doesn’t have to be. The Ethereum community has been working to change how the currency is created in order to radically reduce the blockchain’s carbon footprint. The method it’s working toward is called...

FTX and Circle Partner to Improve USDC Stablecoin Support

Cryptocurrency exchange FTX on Friday bolstered its support for USD Coin (USDC) through a partnership with Circle, the co-creator of USDC. The partnership will allow the customers of FTX, as well as those of its subsidiary, Blockfolio, to use ACH, international wire...

The Beginner’s Guide to Cryptocurrency Exchanges

In the wake of the much-ballyhooed public listing of Coinbase last month, many crypto-newcomers have been asking the experts at Decrypt: What are my other options if I'm ready to buy some coin? Who are Coinbase's competitors? Indeed, while Coinbase has arguably become...

Bitcoin Miner Argo Buys Two Hydro-Powered Data Centers

British Bitcoin mining firm Argo Blockchain announced Thursday the purchase of two data centers in Canada. Both sites are almost entirely powered by hydroelectricity.  The acquisition of both sites is part of the firm’s goal to mine Bitcoin in an environmentally...

IndyCar 500 Racer to Drive in Bitcoin Livery

Tesla may have fallen out of love with Bitcoin, but there's one car still carrying the flag for the world's largest cryptocurrency. Later this month, Ed Carpenter Racing driver Rinus VeeKay's No. 21 Chevrolet will take to the track in the 105th Indianapolis 500...

Asia’s DBS Bank Launches Bitcoin Custody Service

DBS Group, Southeast Asia’s largest bank, announced Friday that its private banking arm offers crypto trust services. That means high-net-worth customers can store Bitcoin, Ethereum, Bitcoin Cash and XRP with the bank. DBS Private Bank claims that this is the first...

Who Are Crypto’s PayPal Mafia?

In the early 2000s, technology journalists noticed that a disproportionate amount of Silicon Valley’s great and good had all passed through one company at one time or another.  That company was PayPal, and its alumni, referred to as the ‘PayPal Mafia’ included some of...

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