Latest Crypto News & Market Updates

Nigeria sets crypto tax collection rules for digital asset platforms

Nigerias revenue agency has issued rules requiring crypto platforms and peer-to-peer (P2P) marketplaces to collect, report and remit taxes, including paying some withheld amounts in digital tokens.　　In its Guidelines on Taxation of Virtual Assets, the Nigeria Revenue Service (NRS) said income tax deducted at source and stamp duty “shall be remitted to the Service in the originating token of the transaction.” Value-added tax, by contrast, must be remitted in the currency used for the payment.　　The guidelines place exchanges and P2P marketplaces at the center of withholding, reporting and remittance under the countrys existing laws.　　Under the guidelines, platforms must withhold 1% of proceeds from taxable disposals of crypto assets, security tokens and applicable non-fungible tokens. A 10% withholding rate applies to staking, mining, airdrops and decentralized finance, while token-to-fiat and fiat-to-token transfers are subject to a 1.5% stamp duty.　　The withheld amounts are advance payments credited against the taxpayers final income tax liability. Individuals are taxed at progressive rates, while companies other than small companies face a 30% rate. Stablecoin sales are exempt from the 1% withholding tax.　　Nigerias crypto tax framework takes shape　　The new guidelines follow an executive order signed by President Bola Tinubu that established a Virtual Asset Council chaired by

08-04Industry

Apple briefly removes Telegram from App Store, Gram rebounds

Apple briefly removed Telegram from the App Store after its review found content that violated its policies on child sexual abuse material, according to Bloomberg.　　The messaging app was later restored after Telegram removed the content and banned the user who posted it, Apple said.　　The Telegram-linked token Gram fell about 6.4% to $1.32 from $1.41 following reports of the removal. It has since recovered to about $1.40 at the time of writing, according to CoinGecko data.　　“Reports of my demise are greatly exaggerated,” Telegram posted on X, followed by an apple emoji.　　Telegram is also facing legal action in Russia and Australia over its handling of illegal material.　　Russia is pursuing a terrorism-related charge against founder Pavel Durov over Telegram‘s handling of alleged extremist content, while Australia’s eSafety Commissioner has launched court proceedings against the platform over alleged failures to remove terrorism-related material.　　Related: Telegram‘s Pavel Durov responds to Russia’s terrorism designation

08-04Industry

Bernstein says Texas data center audit could boost value of existing bitcoin mining and AI sites

Quick TakeBernstein said a state-ordered audit of Texas data center projects will make approved power capacity scarcer, increasing the value of existing bitcoin miners and AI operators.On Monday, Texas Governor Greg Abbott directed the Public Utility Commission of Texas (PUCT) and grid operator ERCOT to audit all data center projects currently in the states interconnection queue.　　Bernstein said a state-ordered audit of Texas data center projects will throttle speculative development and increase the scarcity value of approved power capacity, boosting existing bitcoin miners and AI operators.　　On Monday, Texas Governor Greg Abbott directed the Public Utility Commission of Texas (PUCT) and grid operator ERCOT to audit all data center projects currently in the states interconnection queue.　　The order prompted ERCOT to pause its “Batch Zero” process, a review of the first group of large electricity users that was scheduled to release classification results this month. Data center requests currently make up roughly 90% of ERCOTs 474 GW interconnect queue.　　In a note to clients on Tuesday, Bernstein analysts noted that while the regulatory review will likely create delays for select developers with pipeline assets pending grid approval, existing operations remain intact.　　“Within our coverage and broadly miners, all contracts under execution are for approved capacity

08-04Industry

Bhutan's GMC puts part of its bitcoin treasury to work after 10,000 BTC pledge

SummaryGelephu Mindfulness City in southern Bhutan hired Toronto-based 3iQ to manage part of its bitcoin treasury using a low-risk, market-neutral strategy aimed at generating long-term returns.The size and source of the bitcoin mandate were not disclosed, amid ongoing questions about Bhutans earlier pledge of up to 10,000 BTC and onchain data suggesting about $1 billion has left wallets linked to its sovereign fund.Beyond asset management, officials say the deal with 3iQ is intended to create jobs for Bhutanese youth and build skills in technology and finance, with specific programs still being developed.　　Gelephu Mindfulness City (GMC), a special administrative region in southern Bhutan, awarded 3iQ Corp. a mandate to manage part of its bitcoin treasury, the firms said in an email.　　GMC declined to disclose the size of the mandate to CoinDesk.　　How the money will be run is the new information. GMC told CoinDesk it selected the Toronto-based company to generate long-term returns through a low-risk, market-neutral investment approach, meaning the reserve is to be deployed for yield rather than simply held.　　A market-neutral strategy covers a range of possibilities, including basis trades and lending. Such strategies usually yield at least 5% annually in the general market. GMC did not say whether any

08-04Industry

George Santos to pay $35K after CFTC finds Kalshi market manipulation

George Santos has settled CFTC case over Kalshi prediction market trades by accepting penalties and a three-year trading ban after regulators found he made misleading public statements while betting on his attendance at President Donald Trumps State of the Union address.　　According to a July 31 order from the U.S. Commodity Futures Trading Commission (CFTC), former U.S. Representative George Santos must return $17,569.98 in trading gains, pay a $17,500 civil monetary penalty, comply with a cease-and-desist order, and stay away from trading on any CFTC-registered entity for three years after settling allegations tied to trades on prediction market platform Kalshi.　　The settlement closes an investigation that began earlier this year after Kalshi referred Santos‘ trading activity to regulators. While Santos accepted the settlement, the order states that he neither admitted nor denied the agency’s findings or legal conclusions.　　CFTC says Santos traded both sides of Kalshi market　　Regulators said Santos opened a Kalshi account on Feb. 11, roughly four months after President Donald Trump commuted his prison sentence. The former congressman funded the account with about $7,000 and traded only one event contract, which asked whether he would attend Trumps State of the Union address.　　Trading records included in the order show Santos initially accumulated

08-04Industry

August Crypto Market Calendar: Will the “July Up, August Down” Curse Return? Will BTC Start with “5”

Bitcoin closed July with an approximate 7.26% gain (according to Binance data), injecting a much-needed boost of confidence into a market that had remained sluggish for an extended period. However, as the calendar turns to August, a long-standing “curse” in the crypto market begins to resurface — August has historically been one of Bitcoins worst-performing months. As shown below:　　Summary:August has historically been one of Bitcoins weakest-performing months. Over the past 13 years, BTC recorded 5 monthly gains and 8 monthly declines in August. The median return was -6.99%, making August the only month with a negative median return among all calendar months.　　Looking back at historical data, July has long been regarded as one of Bitcoin‘s stronger-performing months, often featuring a pattern of an early-month pullback followed by a rapid recovery. However, for investors, the key question is: after July’s rally, will August become a month of profit-taking and market correction？　　A market saying that has circulated for years is: “July pumps, August dumps.”　　Will this seasonal pattern repeat itself in 2026？ Can Bitcoin continue pushing toward new highs, or will it face another round of deep correction？　　The more direct question is: By the end of August, will Bitcoin hold above the $50,000

08-04Deep Dive

Jump Capital bets on enterprise AI with new $350M Fund VIII

Jump Capital has closed its eighth institutional fund with $350 million in capital commitments, with the new vehicle dedicated to backing founders building AI applications, enterprise infrastructure, and cybersecurity technologies.　　In an official announcement, the venture firm said its latest investment strategy is built around three developments shaping enterprise AI adoption: software applications being rebuilt around AI, new infrastructure needed to support production-scale deployment, and cybersecurity adapting to increasingly autonomous systems.　　The firm said the new fund will continue its long-standing approach of investing in technical founders solving complex infrastructure and enterprise challenges.　　Jump Capital sees three areas driving enterprise AI　　According to the announcement, enterprise interest in artificial intelligence has moved beyond experimentation, with organizations now facing challenges around deploying AI reliably in production. Jump Capital said enterprises are struggling to realize meaningful returns because infrastructure and security have not advanced as quickly as AI adoption.　　The firm said it expects one of the biggest opportunities over the coming years to come from rebuilding the enterprise technology stack to support AI-native software.　　On the application side, Jump Capital believes AI is allowing software to execute work that previously depended on consultants, analysts, and other specialists. It said the next generation of enterprise software will become

08-04Industry

South Koreas Upbit lists HOME as Bithumb adds 2 tokens

South Koreas two largest crypto exchanges announced four new trading markets on Aug. 4, expanding local access to the HOME, META2 and USDG tokens.　　Upbit will add Defi App‘s HOME token to its Korean won and Tether markets at 17:00 Korea Standard Time. Bithumb plans to open Korean won markets for MetaDAO’s META2 and Global Dollar, or USDG, at 16:00 KST. The exchanges said the opening times could change if they do not secure enough liquidity.　　The announcements place a cross chain DeFi token, a market based governance token and a dollar stablecoin in front of South Korea‘s active retail market. However, the listings do not change the projects’ underlying technology, token supply or regulatory status.　　Upbit gives HOME direct won and USDT access　　Upbit said deposits and withdrawals for HOME would open within two hours of its notice. It will support the token through Base only. Users who send HOME through another network may face delays while seeking a return of the unsupported deposit.　　Upbit to List HOME; Bithumb to Add META2 and USDG　　South Koreas largest crypto exchange Upbit will list Defi App (HOME) on KRW and USDT markets. Defi App is a cross-chain DeFi platform supporting EVM and Solana ecosystems, offering token trading,

08-04Industry

Galaxy estimates Coldcard exploit may have stolen up to 2,055 Bitcoin

Galaxy Research has estimated that losses tied to the Coldcard hardware wallet vulnerability have reached 1,596 Bitcoin across confirmed attack waves and could climb to about 2,055 BTC, or nearly $130 million, if a suspected fourth wave is verified.　　Galaxy Research said in a post published Monday on X that it has identified 1,596 BTC stolen from 7,300 addresses across three confirmed waves of attacks, along with 14 smaller security incidents linked to the Coldcard seed-generation flaw.　　The research firm said its latest estimate excludes a fourth suspected attack wave because it has not yet received enough confirmation from affected wallet owners. If the additional activity is validated, the total would rise to 2,055 BTC, valued at about $130 million at current prices.　　Earlier blockchain analysis from Galaxy had estimated roughly 1,815.75 BTC moving across four observed waves, but the firm emphasized at the time that the figures came from on-chain analysis rather than confirmed victim reports. The latest update narrows confirmed losses while keeping the larger estimate tied to the still-unverified fourth wave.　　Coldcard attack investigation remains active　　Galaxy said it has identified what it believes is a fourth coordinated wave of theft but is still waiting for victim confirmation before adding those addresses

08-04Industry

Tyler Williams exits Treasury as CLARITY stalls

Tyler Williams, one of Treasury Secretary Scott Bessents senior digital asset advisers, left the U.S. Treasury Department on July 31 as Congress struggled to advance the CLARITY Act before its August recess.　　Bessent confirmed the departure in a statement reported by Punchbowl News on Aug. 3. He called Williams “instrumental” in advancing the administrations goal of making the United States the “crypto capital of the world.”　　Punchbowl reported that Williams is “expected to return to the private sector,” although neither his next employer nor his future position was disclosed.　　Treasury had not announced a replacement as of early Aug. 4. Its public press release page also contained no formal statement about Williams‘ departure, leaving Bessent’s remarks to Punchbowl as the main confirmation.　　Tyler Williams helped shape Treasurys digital asset agenda　　Tyler Williams joined Treasury in February 2025 as counselor to the secretary. His official responsibilities included advising Bessent on digital assets and blockchain policy. Before entering government, he served as Galaxy Digitals global head of policy and advised financial services companies through his own consulting firm.　　His earlier government roles included deputy assistant secretary for financial institutions policy during President Donald Trumps first administration and banking counsel to Sen. Thom Tillis. That experience placed Williams between

08-04Industry

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