• Binance has appointed a new general counsel amid their intensifying legal troubles.
• The IRS is investigating an American crypto exodus to Puerto Rico, while crypto crime has gone down by 65%.
• BlackRock CEO Larry Fink likened crypto to ‘digitizing gold’ and praised Bitcoin as an ‘international asset’.
Binance Appoints New General Counsel
Binance recently announced the appointment of a new general counsel amidst its ongoing legal issues. The move comes as the company faces increased scrutiny from regulators around the world.
IRS Investigates Crypto Exodus to Puerto Rico
The Internal Revenue Service (IRS) is currently investigating an American exodus of cryptocurrency to Puerto Rico in order to avoid taxation on digital assets. The move comes as U.S citizens seek out more tax-friendly jurisdictions for their digital assets.
Crypto Crime Down 65% in 2023
Despite some concerns over rising instances of crypto-related crimes, data shows that overall incidents have dropped by 65% since 2023. However, ransomware remains a major concern among security experts and law enforcement agencies alike.
BlackRock CEO Larry Fink Praises Bitcoin
BlackRock CEO Larry Fink recently spoke highly of cryptocurrency during an interview with Bloomberg TV, comparing it to „digitizing gold“ and praising Bitcoin as an „international asset“. His comments come after years of criticism from traditional financial institutions about the use of digital currency.
Polygon Labs Proposes Token Upgrade
Polygon Labs recently proposed replacing its MATIC token with a new upgraded POL token in order to expand its ecosystem and incentivise validators and users alike. According to projections from Polygon Labs, POL’s price could average at $5 during a 10-year growth scenario if successful implemented.