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<keyword id="2721952" type="General" weightage="20" keywordseo="crypto" source="Orion">Crypto</keyword>.com has admitted that it mistakenly sent over $400 million in <keyword id="15510308" type="General" weightage="20" keywordseo="Ethereum-digital-coins" source="Orion">Ethereum digital coins</keyword> to another crypto exchange called Gate.io. <keyword id="11118047" type="General" weightage="20" keywordseo="Crypto-com" source="Orion">Crypto.com</keyword> CEO Kris Marszalek said in a tweet that the company was supposed to send 320,000 cryptos to one of its offline wallets, but accidentally sent it to a "whitelisted" address belonging to the corporate account at Gate.io. "It was supposed to be a move to a new cold storage address, but was sent to a whitelisted external exchange address. We worked with Gate team and the funds were subsequently returned to our cold storage. New process and features were implemented to prevent this from reoccurring," Marszalek acknowledged. The Crypto.com CEO said the transfers that generated so much speculation on Twitter "were made over three weeks ago, on October 21 to Crypto.com's whitelisted corporate account at Gate.io." Crypto.com proceeded to withdraw the funds back to its cold wallets over the following days. "The entirety of <keyword id="695282" type="General" weightage="20" keywordseo="ETH" source="Orion">ETH</keyword> was successfully withdrawn by Crypto.com and returned to our cold storage," the company informed. In August, Crypto.com gave a customer $7.2 million instead of $68 refund, which it is yet to get back and was reported to be suing the customer in question. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/permanent-indian-residents-can-now-be-part-of-canadian-military/articleshow/95497979.cms">Permanent Indian residents can now be part of Canadian military</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/one-in-every-six-indians-has-borderline-diabetes-says-report/articleshow/95497532.cms">One in every six Indians has borderline diabetes says report</a>

Crypto.com mistakenly sends Ethereum worth $400 mn to another exchange

<ul class="summary-list"><li>India's WazirX <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> exchange listed <keyword id="11258044" type="UNKNOWN" weightage="60" keywordseo="shiba-inu-coin">shiba inu coin</keyword> this week. </li><li>Shiba inu coin, which launched less than a year ago, took inspiration from <keyword id="1985091" type="PERSON" weightage="60" keywordseo="dogecoin">dogecoin</keyword>.</li><li>The listing comes a day after <keyword id="4462663" type="PERSON" weightage="60" keywordseo="vitalik-buterin">Vitalik Buterin</keyword> donated <a href="https://markets.businessinsider.com/currencies/news/vitalik-buterin-donation-shiba-inu-india-covid-relief-ethereum-cryptorelief-2021-5-1030426402">$1 billion worth of the tokens</a> to a crypto-based COVID-19 relief fund for India.</li></ul>The largest cryptocurrency exchange in India has listed shiba inu coin for trading a day after <keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">ethereum</keyword> co-creator Vitalik Buterin's donation of about $1 billion worth of the tokens to India for COVID-19 relief. Mumbai-based WazirX exchange, which is owned by Binance, listed the new token on Thursday, according to a <a href="https://blog.wazirx.com/buy-sell-trade-shiba-inu-shib-on-wazirx/">blog post</a>. "We were receiving a lot of requests from our community to bring SHIB on WazirX, and hence, we decided to list it," WazirX CEO Nischal Shetty told <a href="https://www.coindesk.com/binances-indian-crypto-exchange-lists-shib-token-as-vitalik-gift-garners-local-press">CoinDesk</a>. WazirX however will not accept direct SHIB deposits or facilitate its withdrawals. According to <a href="https://www.shibatoken.com/">shiba inu's website</a>, the only place to buy or sell the dogecoin knockoff is on Uniswap. Shiba inu, which was founded less than a year ago, took inspiration from a more established meme currency, dogecoin - even branding itself as a "<a href="https://www.shibatoken.com/" target="_blank" rel="noopener noreferrer">dogecoin killer</a>." According to its website, shiba inu is an "experiment in decentralized community building." The WazirX listing comes a day after Buterin donated <a href="https://etherscan.io/tx/0xb65bcbb85c1633b0ab4e4886c3cd8eeaeb63edbb39cacdb9223fdcf4454fd2c7" target="_blank" rel="noreferrer noopener">50 trillion SHIB tokens</a> <a href="https://markets.businessinsider.com/currencies/news/vitalik-buterin-donation-shiba-inu-india-covid-relief-ethereum-cryptorelief-2021-5-1030426402">worth around $1 billion</a> to a crypto-based COVID-19 relief fund for India. The token has skyrocketed and gained almost 1,000% over the past week but plunged after news of Buterin's donation broke.Shiba inu was last at $0.00002035 on Friday morning, up by 15%, according to CoinMarketCap <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="noopener">data</a>. It is the 25th largest cryptocurrency in circulation based on its current market value of over $7.9 billion.The listing of meme tokens is often seen as a sign of legitimacy in the cryptocurrency community.On Thursday, Coinbase said it <a href="https://markets.businessinsider.com/news/stocks/dogecoin-doge-coinbase-trading-exchanges-elon-musk-tesla-bitcoin-2021-5-1030430221">will list the dogecoin</a> in six to eight weeks. Other exchanges that allow dogecoin trading include Kraken and Robinhood.

Binance's Indian exchange lists Shiba Inu coin a day after Ethereum creator Vitalik Buterin's $1 billion donation

<ul class="summary-list"><li>The Indian government will roll out a digital currency over the coming year, the finance minister said. </li><li>India previously suggested banning <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword>, but now plans to regulate and <keyword id="12148805" type="UNKNOWN" weightage="60" keywordseo="tax" source="Orion">tax</keyword> it, the minister said.</li><li>India is a major digital trading hub, with an estimated 15 to 20 million crypto investors.</li></ul>India appears to be warming up to cryptocurrencies, with an announcement by the finance minister on Tuesday of plans for a digital currency rolled out by the central bank, along with a framework to regulate and tax crypto assets.Finance minister Nirmala Sitharaman, as part of her annual budget speech, said the central bank would aim to roll out a digital rupee in the coming fiscal year. This marks a major U-turn for the government, which had signaled it <a href="https://www.businessinsider.com/crypto-investing-india-ban-bitcoin-retail-investors-kimchi-premium-cbdc-2021-11?utm_medium=ingest&amp;utm_source=markets&amp;r=US&amp;IR=T">could ban cryptocurrencies</a> outright, until the upper house of parliament <a href="https://markets.businessinsider.com/news/currencies/crypto-ban-india-regulate-bill-fines-sebi-cryptocurrency-digital-asset-2021-12">clarified</a> that digital assets should be kept on exchanges and monitored correctly by a market regulator."The introduction of a central bank digital currency will give a big boost to the digital economy. Digital currency will also lead to a more efficient and cheaper currency management system," Sitharaman said.According to its budget plans, the government will impose a 30% tax on income from cryptocurrencies and other digital assets, as well as apply a 1% tax deduction at source on payments related to purchasing such assets.Central bank digital currencies (CBDCs) offer a centralized, official alternative to pure cryptocurrencies. Major central banks, such as the Federal Reserve, the Bank of England and the European Central Bank are all looking into developing their own digital currencies.But it is the emerging economies where progress is actually happening. China already has a <a href="https://markets.businessinsider.com/news/currencies/china-digital-yuan-years-ahead-in-development-cbdc-cryptocurrencies-chainalysis-2021-8">digital yuan</a> in circulation through various pilot programs, putting it several years ahead of G7 central banks in this respect. The effect of India creating an official digital currency, along with a framework for crypto trading and investment could be significant. The <a href="https://blog.chainalysis.com/reports/2021-global-crypto-adoption-index/">2021 Global Crypto Market Adoption Index</a> from <keyword id="11902141" type="UNKNOWN" weightage="60" keywordseo="chainalysis" source="Orion">Chainalysis</keyword> <a href="https://markets.businessinsider.com/news/currencies/asia-global-cryptocurrency-adoption-retail-investors-india-pakistan-vietnam-2021-8">showed</a> Asia is leading the way in global crypto adoption and India is second only to Vietnam. It is estimated that there are between 15 and 20 million <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> investors in the country.Cryptocurrency <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> were up slightly on Tuesday, gaining some respite from the almost-unbroken pressure during January, when investors booked profits on some of 2021's big winners. <a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> and <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a> posted gains of 4% and 9% over the past 24 hours respectively, according to CoinMarketCap. Read more: <a href="https://www.businessinsider.com/bitcoin-price-bear-market-bull-run-experts-reveal-things-watch-2022-1?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">'Hodlers' last stand': Crypto experts at a major exchange say bitcoin and ethereum can still avoid a bear market. Here are the 4 key things they say you need to watch to figure out what's next</a>

India will launch a digital rupee in the next year and plans a 30% tax on crypto-related income, according to the finance minister

<ul class="summary-list"><li>Nvidia CEO <keyword id="4877280" type="PERSON" weightage="60" keywordseo="jensen-huang">Jensen Huang</keyword> spoke to a group of journalists at the Computex IT conference. </li><li>He said <keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">ethereum</keyword> will be valuable due to its scalability and credibility in areas including DeFi.</li><li>He also spoke about Nvidia's role in the future of <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> mining and said he believes a <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="Metaverse">metaverse</keyword> is imminent. </li></ul>Jensen Huang, the CEO of chip and graphics card producer Nvidia, recently spoke to a group of journalists at the IT expo Computex about his views on ethereum's value, how Nvidia's products fit into the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-474d5884-7fff-42d2-2dbf-26a43848f924">crypto</a> ecosystem and why he thinks we're on the cusp of creating a metaverse in an interview published by <a href="https://venturebeat.com/2021/06/12/nvidia-ceo-jensen-huang-weighs-in-on-the-metaverse-blockchain-chip-shortage-arm-deal-and-competition/">VentureBeat</a>. Nvidia's graphic processing units are top-level graphic cards that also have crypto mining capabilities. Huang, a big proponent of artificial intelligence, unveiled a lower resolution graphics card at the conference that has been designed specifically for <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-474d5884-7fff-42d2-2dbf-26a43848f924">crypto</a> mining. He also addressed the global chip shortage, Nvidia's role in it and whether he believes the Chinese government will interfere in the development of artificial intelligence. Here are Huang's ten best quotes from the interview, lightly edited and condensed for clarity. <ol><li>"Am I excited about proof of stake? The answer's yes....Ethereum has established itself. It has the opportunity now to implement a second generation that carries on from the platform approach and all of the services that are built on top of it. It's legitimate. It's established. There's a lot of credibility. It works well. A lot of people depend on it for DeFi and other things. This is a great time for proof of stake to come." - on the opportunities ethereum provides and the network's value for <keyword id="6355684" type="PERSON" weightage="60" keywordseo="Blockchain">blockchain</keyword> and crypto.</li><li>"We reduced the performance of our GPU on purpose so that if you would like to buy a GPU for gaming, you can. If you'd like to buy a GPU for crypto mining, either you can buy the CMP version, or if you really would like to use the GeForce to do it, unfortunately the performance will be reduced." - on how Nvidia is trying to decrease graphic card prices and why they developed CMP. </li><li>"We'll just keep working with our supply chain to inform them about the changing world of IT, so that they can be better prepared for the demand that's coming in the future. But I believe that the areas that we're in, the <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> that we're in, because we have very specific reasons, will have rich demand for some time to come." - on managing the ongoing global shortage of semiconductors.</li><li>"It's now established that ethereum is going to be quite valuable. There's a future where the processing of these transactions can be a lot faster, and because there are so many people built on top of it now, ethereum is going to be valuable. " - on the outlook for the ethereum network based on its scalability. </li><li>"I believe we're right on the cusp of it. [...] There will be many types of metaverses, and video games are one of them, for example. [...] We'll see this overlay, a metaverse overlay if you will, into our physical world." - on when and how a metaverse will become real. </li><li>"You need that blockchain to have some fundamental value, and that fundamental value could be mined. Cryptocurrency is going to be here to stay. Ethereum might not be as hot as it is now. In a year's time, it may cool down some. But I think crypto mining is here to stay." - on the future of crypto mining and blockchain networks.</li><li>"I believe that there will be a larger market, a larger industry, more designers and creators, designing digital things in virtual reality and metaverses than there will be designing things in the physical world. [...] The economy in the metaverse, the economy of Omniverse, will be larger than the economy in the physical world. Digital currency, cryptocurrency, could be used in the world of metaverses." - on his vision for the omniverse that Nvidia is developing. </li><li>"My sense is that we're welcome in China and we'll continue to work hard to deserve to be welcome in China, and every other country for that matter." - on whether the Chinese government will step in and regulate Nvidia's work on artificial intelligence. </li><li>"One of the most important technologies that we have to build, for several of them - in the case of consumers, one of the important technologies is AR, and it's coming along." - on the development and accessibility of augmented reality. </li><li>"This is the largest market opportunity the IT industry has ever seen. I can understand why it inspires so many competitors. We just need to continue to do our best work and run as fast as we can." - on the future of the graphics processing unit industry and the competition within it.</li></ol> <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

Nvidia CEO Jensen Huang talks about the value of ethereum, advances in crypto mining and the global semiconductor shortage in a recent interview. Here are the 10 best quotes.

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Crypto.com mistakenly sends Ethereum worth $400 mn to another exchange

IANS

Binance's Indian exchange lists Shiba Inu coin a day after Ethereum creator Vitalik Buterin's $1 billion donation

Isabelle Lee

India will launch a digital rupee in the next year and plans a 30% tax on crypto-related income, according to the finance minister

Adam Morgan McCarthy

Nvidia CEO Jensen Huang talks about the value of ethereum, advances in crypto mining and the global semiconductor shortage in a recent interview. Here are the 10 best quotes.

Sophie Kiderlin

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