Ferrari Starts Accepting Cryptocurrency Payments for Its Luxury Sports Cars in the U.S. and Plans to Extend the Scheme to Europe
Luxury carmaker Ferrari has begun accepting cryptocurrency payments for its vehicles in the US and plans to extend the scheme to Europe. The move comes in response to requests from wealthy customers, some of whom have built their fortunes around cryptocurrencies. Ferrari will use BitPay, one of the largest cryptocurrency payment processors, to ensure that virtual currencies come from legitimate sources and are not used for criminal activity or tax evasion. The company's marketing and commercial chief said the majority of its US dealers have already signed up to the scheme.
Hamas and Affiliates Receive Millions in Cryptocurrency Donations: Report
According to a report by the Wall Street Journal, the Hamas terrorist organization and its affiliates have received millions of dollars in cryptocurrency donations. Forensics firm Elliptic and Tel Aviv software company BitOK provided the data, which showed that Palestinian Islamic Jihad received $93 million in crypto between August 2021 and June 2023, while Hamas received about $41 million in the same timeframe. Although crypto is often used as a financing method for groups and nations cut off from the U.S. controlled global financial system, it is not the main source of funding for Hamas and affiliated groups such as Palestinian Islamic Jihad and Hezbollah, which are mostly state-sponsored.
U.S. senators urge IRS to speed up plans to crack down on crypto tax fraud
A group of senators led by Democratic Senator Elizabeth Warren and Independent Senator Elizabeth Warren are urging US tax officials to advance the start date for cryptocurrency brokers and exchanges to report customer transaction information to the government. They believe that delaying the implementation of the rule for two years will result in the US missing out on billions of dollars in tax revenue. The proposed regulations released by the IRS and Treasury Department in August will require these companies to report sales and transaction data of digital assets starting in 2026, which is two years later than the plan when Congress passed legislation in 2021. The Treasury Department stated that the delay would give brokers more time to adapt to the rules, and the new rules have not yet been finalized. So far, the IRS and Treasury Department have received more than 90 comments on the plan. This debate may become an important part of a public hearing, which the government has scheduled for November 7th.
Crypto Aid Israel: Local Cryptocurrency Leaders Join Forces to Provide Humanitarian Aid to Displaced Citizens
A group of local leaders in the cryptocurrency industry, including 42Studio, MarketAcross, and CryptoJungle, have come together to establish Crypto Aid Israel. The initiative aims to provide humanitarian aid to Israeli citizens who have been displaced due to the ongoing conflict in the region. The group is hosting a multi-sig wallet overseen by members of the local web3 community and is accepting Bitcoin and Ethereum donations. Donors are urged to verify the wallet address on the official website to avoid potential phishing scams and cyber attacks.
Over 98.87 Million ENJ Were Transferred Between Unknown Wallets, Worth Over $22 Million
On September 25th, according to Whale Alert monitoring, 98,870,726 ENJ (approximately $22,281,078) was transferred from an unknown wallet to another unknown wallet.
European crypto fund Eureka partners completes $40 million in fundraising
European encryption fund Eureka Partners has raised $40 million, with full participation from Nordic Venture Innovations AB. The funds raised by Eureka Partners will be used to accelerate its development in the blockchain and cryptocurrency fields.
XBE Risk Director: JPEX Victims Can Report the Crime in Australia and Freeze the Bank Accounts of the Relevant Companies As Soon as Possible
Regarding the JPEX incident, Zhu Qiaohua, risk director and lawyer of the blockchain technology group XBE, said that most overseas law enforcement agencies have blockchain blacklists. Once a wallet or funds are involved in a criminal case, the authorities can track and lock the funds in the wallet.
Binance CEO CZ Zhao Files Petition To Dismiss SEC Lawsuit Overstepping Authority
Binance CEO Changpeng Zhao and his cryptocurrency exchange have filed a petition to dismiss the lawsuit brought against them by the SEC. The petition claims that the SEC overstepped its authority and distorted the securities laws in an attempt to regulate the crypto industry. Binance.US also filed a separate petition to have the charges against it dismissed. This is an ongoing story and more information will be provided as it becomes available.
Tim Draper Launches New Crypto Venture Studio Draper Goren Blockchain
According to Decrypt, Tim Draper, the well-known Silicon Valley venture capitalist and founder of DFJ Investment Fund, launched a risk studio focused on cryptocurrency called Draper Goren Blockchain (DGB), aimed at accelerating the development of decentralized finance (DeFi) innovation, network expansion solutions, and consumer applications such as games and social experiences to cope with the continuing bear market.
Apple Is Teaming Up With Goldman Sachs To Develop a Stock Trading App for Its Devices
Tech giant Apple is working with Goldman Sachs to develop a stock trading app for its devices. The tech giant plans to compete with companies like Robinhood, Square, and other similar companies that offer BTC and cryptocurrency to their customers. Some users on social media platforms have claimed that if the platform is exposed, Bitcoin (BTC) and other cryptocurrencies may be available on the platform. The project is currently on hold and there are no immediate plans to launch it. However, a source close to the project said that the platform's user interface and infrastructure are ready.
