Wormhole, the messaging protocol enabling cross-blockchain communication, has made headlines by securing a landmark $225 million in funding, valuing the company at $2.5 billion. Fortune reported the news as the company completing “the largest funding round for a crypto project in 2023.” The funding round attracted diverse backers, including Brevan Howard, Coinbase Ventures, Multicoin Capital, The post Wormhole secures record $225M funding, spins off into Wormhole Labs for cross-chain expansion appeared first on CryptoSlate.

Paxos has obtained in-principle approvals from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM). These approvals mark a significant step for Paxos in the region, allowing it to issue US dollars and other currency-backed stablecoins and offer crypto-brokerage and custody services from its regulated ADGM entities. This development is reportedly The post Paxos poised to expand global stablecoin operations in Abu Dhabi with regulatory green light appeared first on CryptoSlate.

Cristiano Ronaldo, the renowned football icon, has become the subject of a class-action lawsuit filed by the same two plaintiffs who previously sued Changpeng Zhao (CZ), the former CEO of Binance, for $1 billion. The Ronaldo suit, which also seeks a staggering $1 billion in damages, may raise questions, particularly given the striking similarities to The post Lawyers file $1B class action against Ronaldo 3 months after similarly templated $1B CZ suit appeared first on CryptoSlate.

The UK government has revised its approach to taxation on crypto, introducing a more structured process for reporting and paying any unpaid taxes in this domain. As per HM Revenue & Customs’ latest publication, dated Nov. 29, individuals and entities dealing with “cryptoassets” must adhere to specific guidelines to ensure compliance with tax obligations, reporting The post UK investors may be liable for up to 20 years of ‘unpaid tax on cryptoassets’ appeared first on CryptoSlate.

The decentralized trading platform dYdX Chain has achieved a significant milestone, transitioning from its ‘Beta Stage’ to ‘Full Trading’ as of Nov. 28. The initiation on the dYdX Chain was activated following a dYdX governance vote, showcasing the platform’s focus on decentralized decision-making and community-driven development. Major markets such as BTC-USD, ETH-USD, SOL-USD, and LINK-USD The post dYdX Chain completes mainnet migration, rolls out $20 million in DYDX token rewards appeared first on CryptoSlate.