The biggest headlines in this week’s crypto are here! The UK crypto community must have been happy as UK tax authorities freeze capital gains tax. This has been considered a short-term victory for crypto investors. Another huge leap is the UNI crypto coin making it to the crypto’s top 10 as the first Defi DApp token included on the list. On the other hand, the top cryptocurrency, Bitcoin, was pumped by Norway’s richest man to $60M.
While there is such news that gives bullish impressions to the investors, other news such as Ripple and MoneyGram ending their partnership might not be good for the XRP community. However, this is not the end of it all. Ripple’s CEO declared that XRP will keep on trading even if the Ripple goes away. Keep a watchful eye on the crypto space and don’t miss a thing!
UK Tax Authorities Freeze Capital Gains
The crypto investors in the UK are happy as the Chancellor decided to freeze the CGT threshold at £12,300 until 2026. Becky O’Connor, the Head of Pensions and Savings at Interactive Investor, expressed her opinion as she believes that the allowance freeze is a wealth tax by another name. Nonetheless, the short-term investors are still glad for this movement. Read more
If Ripple Goes Away, XRP Will Keep Trading
Ripple’s CEO, Brad Garlinghouse, said in a documentary that XRP will keep trading even if Ripple will go away. It has been all over the news when Ripple faced the SEC lawsuit case filed against them. Despite the accusations that XRP is unregistered security, the judge will always have the final say. Read more
UNI Soars High
Uniswap has surged by nearly 50% this week which made it the eighth-largest crypto asset. On March 5th, it also had a place in crypto’s top 10 as the first DeFi DApp token to hold the distinction. Also, UNI’s surge comes amid increasing speculation that Uniswap’s V3 upgrade will be coming in the way soon. Read more
Norway’s Second-Richest Man Pumps $60 Million In Bitcoin
Kjell Inge Røkkes Aker, the second-richest man in Norway, has established a cryptocurrency company named Seetee. He invested NOK500 million ($60 million) into Bitcoin. The company will step into Bitcoin mining with green energy as energy sources. While it advocates sustainability and lessening the fears of Bitcoin’s energy use, it also aims to HODL its entire BTC holdings. Read more
Ripple and Moneygram End of Partnership
The money transfer giant, Moneygram, announced that it will not be using XRP for remittance services. Ripple also gave an official statement about this confirming the end of their partnership. Because of the SEC lawsuit against XRP, Moneygram was sued by Rosen Law Firm for allegedly misleading investors over XRP. Though the partnership did not last, it was fruitful for both of them. Read more