Cryptocurrency News Live: Celsius Emerges As Biggest Loser In Last 24 Hours

Cryptocurrency News Live: Follow this page for the latest updates on major cryptocurrency and NFT news from India and around the world.

Background

Cryptocurrency still remains a mystical subject for many keen investors in India. While cryptos are slowly gaining recognition from investors and regulators alike, with countries and leading brands adopting it as an official tender, there are still a sizeable number of people who wish to invest in crypto, but aren't able to closely track breaking and developing news in the sector, which will help them take note of price movements, major sell-offs, and announcements of new blockchain-based developments. 

This live news blog is here to help. From major market losses to noteworthy declarations, follow this live blog to stay updated with all the latest happenings in the world of crypto.

While there are many cryptocurrencies to explore, Bitcoin (BTC) is the most popular as it is the world's oldest and most valued crypto coin. As of August 16, Bitcoin price stood at $24,123.50, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $1.15 trillion, registering a dip of 3.13 percent in the past 24 hours. 

While cryptocurrency is unregulated in India, cryptocurrencies are clubbed under virtual digital assets (VDAs). Under the new tax regime that went into effect on April 1 this year, VDAs attract taxation of 30 percent on gains. A TDS of 1 percent will be applied on top of that. 

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.

10:02 AM (IST)  •  16 Aug 2022

Cryptocurrency Price Today: Bitcoin, Ethereum Register Minor Dips

Bitcoin (BTC) and Ethereum (ETH), the world’s most- and second most-valued crypto coins, respectively, registered minor dips but managed to stay in the $24,000 and $1,800 range on early Tuesday (August 16) morning. Alongside, popular altcoins such as Dogecoin (DOGE), Solana (SOL), and Ripple (XRP) saw minor losses across the board. Among lesser-known crypto coins, the Chiliz (CHZ) token emerged as the biggest gainer. On the other hand, the Celsius (CEL) token saw the most loss over the last 24 hours. 

Click here to read the full story.

10:02 AM (IST)  •  16 Aug 2022

Galaxy Digital Cancels $1.2-Billion Acquisition Of Bitcoin Wallet Service BitGo

Financial services and investment management firm Galaxy Digital announced it has terminated the $1.2 billion acquisition of digital asset trust company BitGo as it failed to provide audited financial statements for the year 2021. The proposed acquisition was the global crypto industry's first $1 billion deal.

Click here to read the full story.