Tether launches Mexican Peso-backed stablecoin
Tether has announced the launch of MXNT, a new type of stablecoin backed by the Mexico Peso (national currency). Initially, MXNT will be available on the Ethereum, Polygon, and Tron blockchains. The launch of MXNT will provide a testing ground for onboarding new users in the Latin American market. It will also pave the way for launching fiat-pegged currencies in the region in the future.
Crypto prices today: Bitcoin falls 2.5%, ETH down 9%
Bitcoin is currently trading at $28,872.9, a 2.5% decline over the previous day. Ethereum plummeted 8.5% over the last 24 hours to $1,757.46. Solana crashed 11.11% to $41.21, while Cardano is trading lower by 8.4% at $0.461. Avalanche (AVAX) fell sharply by 12.3% to $22.76. The global crypto market cap stands at $1.19 trillion, a 5.16% decline over the previous day.
MetaMask partners with Asset Reality for recovery of stolen digital assets
Non-custodial crypto wallet MetaMask has partnered with Asset Reality to create a solution for recovering, managing, and accessing seized crypto and complex assets. The two entities will help victims of scams across the globe recover their digital assets. With the exponential growth of Web 3.0 in the last few years, the number of online scams has increased along with new financial services and innovative applications.
Huobi acquires Latin American crypto exchange Bitex
Chinese crypto exchange Huobi has acquired Latin American crypto exchange Bitex to expand its presence in the region. Huobi plans to integrate Bitex’s exchange platform with its global platform. With over 200,000 open accounts, Bitex serves individuals, high-net-worth clients, and corporate customers. It operates in Argentina, Chile, Paraguay, and Uruguay.
Crypto tax firm CoinTracker forays into Indian market
US-based CoinTracker announced its foray into the Indian market with an official product launch. The crypto tax compliance and portfolio tracking products offered by CoinTracker are now available for crypto users in India. The company aims to collaborate with partners and the community to boost crypto adoption and usage in the country.
CoinTracker’s entry comes at a time when the crypto industry is grappling with a 30% tax on virtual assets and will additionally start paying 1% TDS starting July 1. \
Crypto scammers pose as journalists, NFTs on Twitter
As per a Bloomberg report, internet scammers are using hijacked accounts on Twitter to promote shady crypto platforms that enable them to compromise victims’ sensitive data. Since March 2022, fraudsters have impersonated journalists, crypto apps, and a variety of nonfungible token (NFT) projects on Twitter to steal users’ virtual currency, usernames, and password credentials.