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When it comes to understanding your own accounting and financial situation, it is important to understand, with some nuance, your various assets. Moreover, it is even more important to understand how those things are viewed, and how they change and alter over time. With that in mind, let’s uncover which asset cannot be depreciated. Depreciation is an accounting term that allows a business to allocate cost over the usefulness of a tangible asset. Indeed, this means that depreciation is the measurement of value lost over that lifetime. Subseuqnlety, wear and tear, and things of that nature are vital to understand and contemplate. However, some fixed assets do not qualify to be privy to this designation. So, let’s explore a little bit more about depreciation in accounting, and what assets are exempt from such observation. Depreciation in Accounting Source: Deskera Also Read: Is Retained Earnings an Asset? Before we answer the intended question, let us delve a litt...

ENS developer Nick Johnson claims a patent granted to Unstoppable Domains in January is entirely based on ENS Labs innovations. Founder and lead developer of Ethereum Name Service (ENS) Nick Johnson is urging blockchain domains company Unstoppable Domains to drop a recently awarded patent or face a lawsuit , according to an open letter shared on X (formerly Twitter).  In January, Unstoppable Domains was granted its first patent , US11558344, which claims that Braden River Pezeshki, Matthew Everett Gould and Bogdan Gusiev are the inventors of a technology that uses blockchain technology to determine domains. The patent request was filed with the United States Patent and Trademark Office in 2021.  According to Johnson, the patent is "based entirely on innovations that ENS developed and contains no novel innovations of its own." The ENS documentation stipulates that: "The Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethe...

The Animoca Brands founder and CEO says spot Bitcoin ETF enthusiasm has directly correlated to increased confidence and activity in GameFi. Enthusiasm surrounding a possible spot Bitcoin (BTC) exchange traded fund (ETF) isn’t just driving up the price of Bitcoin — it's also sparked a resurgence of enthusiasm for blockchain games , says Animoca Brands founder Yat Siu.  Speaking to Cointelegraph at Hong Kong Fintech Week, Siu said the price increases of many cryptocurrencies reignited investor confidence in the Web3 gaming market as well as sparking a fresh wave of related on-chain activity. “Token values are a way of confidence building in terms of users and utility. It's not for the purpose of just having money, but it's also to feel confident about what you own.” "If an industry or a country isn’t growing, despite the fact that prices might be high, then people can lose confidence,’ Siu said. Busy @animocabrands fam & frens booth including @TheSandboxGame @Moca...

Veteran investor Stanley Druckenmiller praised Bitcoin for establishing its own “brand” during an interview with hedge fund manager Paul Tudor Jones. Billionaire investor Stanley Druckenmiller praised Bitcoin (BTC) for establishing a “brand” over last decade and half — admitting while he doesn’t own any Bitcoin, he ought to. The billionaire shared his latest thoughts on Bitcoin in an Oct. 30 interview with hedge fund manager Paul Tudor Jones, where he made comparisons between Bitcoin and gold as a store of value. “I’m 70 years old, I own gold. I was surprised that bitcoin got going, but you know, it’s clear that the young people look at it as a store of value because it’s a lot easier to do stuff with. 17 years, to me, it’s a brand. I like gold because it’s a 5,000-year-old brand.” He added: “So, I like them both. I don’t own any Bitcoin to be frank, but I should.” Stanley Druckenmiller is one of the most successful hedge fund managers on Wall Street and is worth $6,200,000,000. He s...

Yuga Labs, a firm behind the Bored Ape Yacht Club NFTs, has completed restructuring to focus on its upcoming metaverse project Otherside. Yuga Labs, a company behind the major nonfungible token (NFT) project, Bored Ape Yacht Club (BAYC), has completed restructuring amid the ongoing challenges in the industry. Yuga Labs CEO Daniel Alegre took to X (formerly Twitter) on Oct. 17 to report that the company has finalized its restructuring that was announced in early October. “We now begin the task of refining the focus with our new team configurations,” Alegre said, reiterating that the company will prioritize the execution of Otherside, a gamified and interoperable metaverse project that Yuga started in March 2022. Alegre emphasized that building an “immersive metaverse” platform is hard both technically and creatively, adding: “Otherside is a very important bet for Yuga and when our creative team brought the concept for Meetropolis up to my leadership team, making it a tentpole experi...

Botanix Labs founder Willem Schroé argues a “huge amount of value” from real-world assets will be captured on Bitcoin, provided it connects to the Ethereum Virtual Machine. Mainstream Bitcoin (BTC) adoption won’t happen until it bridges to the Ethereum Virtual Machine (EVM) — the first point of entry for many real-world assets moving on-chain, a Web3 executive argues. Speaking to Cointelegraph, the founder of cross-chain infrastructure firm Botanix Labs, Willem Schroé, claimed Bitcoin “needs to start playing in the EVM world” for it to build real-world use cases to increase its adoption and utility. “Bitcoin is the most technologically secure and truly decentralized protocol [and] the EVM has proven itself to be the application layer for the global financial system,” Schroé said. Our Botanix Protocol positions Ethereum as a Layer-2 solution on top of #Bitcoin. We've added Ethereum onto the Bitcoin Network's secure foundation to harness the security of its Proof-of-Work mechani...

Dean Skurka stated that although regulations have increased costs, they have also led to greater interest in crypto from institutions. Canadian financial institutions are increasingly taking an interest in crypto as regulatory clarity emerges in the country, according to WonderFi CEO Dean Skurka, who met up with Cointelegraph at the Blockchain Futurist Conference in Toronto. Skurka claimed that his exchange had seen an uptick in trading by institutions as opposed to retail investors. “What we have seen in the first half of this year is growth in our OTC institutional segment,” he stated, referring to over-the-counter trades. “These institutional investors, more sophisticated investors, are [more] immune to sentiment and trends in the market, and they’re more fundamental in their investment approaches. [...] We’re starting to see, [...] through clear regulation, that the segment of our client base is shifting quite a bit.” Cointelegraph’s Sam Bourgi (left) and WonderFi CEO Dean Sk...

An immediate appeal could potentially jeopardize the SEC’s “entire enforcement agenda” if it ends up losing, said Katie Haun of Haun Ventures. A former federal prosecutor turned chief executive of a crypto-focused venture capital fund says she would be “surprised” if the United States securities regulator lodges an immediate appeal against the Ripple case ruling, as it current ly benefits from lack of “legal clarity.” On July 13, Judge Torres granted a partial summary judgment in favor of Ripple Labs regarding XRP’s status as a security. At the time, a few commentators warned that an appeal from the SEC would be a possibility. However, in a July 15 Twitter thread, Haun Ventures CEO Katie Haun explained that the securities regulator will likely stay quiet as it benefits from the “current confusion” and that losing an appeal could jeopardize its future enforcement actions. Some non-legal advice musings on the Ripple decision, including two main takeaways: 1/ The Court drew a reasonabl...

The CEO of the largest asset management firm with more than $9 trillion AUM, Larry Fink, spoke on BlackRock's spot Bitcoin ETF filing and the potential benefits of crypto. Larry Fink, the CEO of BlackRock, has delivered pro-crypto remarks amid the asset manager applying to list a spot Bitcoin exchange-traded fund (ETF) in the United States. Speaking on Fox Business on July 5, Fink said the role of cryptocurrency was largely “digitizing gold”, suggesting U.S. regulators consider how an ETF directly linked to Bitcoin (BTC) could democratize finance. During his time at BlackRock, Fink has often commented on major events affecting the crypto space, including the collapse of FTX in 2022 and rising interest in BTC. “Let’s be clear: Bitcoin is an international asset ,” said Fink. “It’s not based on any one currency, and so it can represent an asset that people can play as an alternative.” #Bitcoin is an International Asset. - Larry Fink, BlackRock CEO pic.twitter.com/WIVKITXYPj — Mi...

Dr. Stephen Castell commented that emerging technologies like blockchain, the metaverse and AI will usher in a new set of ethics and human species. In recent years emerging technologies have been pervasive in many major industries around the world. Whether it’s blockchain used to help combat climate change or artificial intelligence (AI) projected to drive economic growth. At the Metaverse Entertainment Worlds (MEWS) conference in Monaco, Cointelegraph sat down with Dr. Stephen Castell to discuss how emerging technologies are creating new ethics , changing the game for banks and more. Castell is an expert witness in class action lawsuits in the United States and Ph.D. in mathematics, who has been recently involved in major lawsuits involving crypto giants like Voyager and Binance. Cointelegraph Editor-in-Chief Kristina Lucrezia Cornèr in conversation with Dr. Stephen Castell at MEWS 2023. The legal expert began the talk by highlighting trust as a foundational theme in the emerging tec...

BNB Chain’s proactive alert does not represent the risk level of the underlying DApp project. Instead, it is aimed at helping users in their research prior to making investment decisions. BNB Chain, the Blockchain developed by crypto exchange Binance, updated its Red Alarm list to include 191 high-risk projects and decentralized applications (dApps) currently hosted on the blockchain. BNB Chain’s Red Alarm list — which gets updated every Friday — includes projects and DApps that are deemed risky investments purely based on smart contract assessment. The 191 new projects on BNB Chain that have been added to the list are either suspected of issuing fake tokens , high or opaque tax fees or simply because their websites or Twitter handles don’t work. A snippet of the risky projects on BNB Chain. Source: dappbay.bnbchain.org The above screenshot shows a portal wherein users can scan any BSC Chain projects for risks. Out of the lot, three projects — CycGo, Piston token and Shorter Financ...

In March, the platform claimed to have successfully onboarded over 560,000 new users. Decentralized multichain digital Wallet solution BitKeep Wallet has announced that it has surpassed 10 million users as of April. The platform has seen tremendous growth in recent months, with over 560,000 new users onboarded in March alone. The surge in users can be attributed to several success ful campaigns with popular blockchains like Arbitrum and Sui. BitKeep's Arbitrum campaign saw the successful launch of ARBK. This native token recorded 708,800 on-chain transactions and was airdropped to over 100,000 users participating in campaign-related tasks and activities. During the campaign period, ARBK was exchangeable for ARB, the official native token of the Arbitrum chain, and ranked first on Arbitrum's ecosystem popularity chart with 150,000 token-holding addresses, with an interaction volume of 330,000. Following BitKeep's recent success, cryptocurrency derivatives exchange Bitge...

The Kraken logo on the car includes the entirety of the abstract and introduction of ‘Bitcoin: A Peer-to-Peer Electronic Cash System’, and has its next race in Australia. The Formula 1 car for the Williams Racing team will feature an excerpt from the Bitcoin white paper , as a result of a sponsorship deal with United States-based crypto exchange Kraken. In a March 31 tweet, Kraken showed its logo shaped like the legendary sea monster contained text from the opening of the 2008 document released by creator Satoshi Nakamoto in 2008. The Kraken logo appeared to include the entirety of the abstract and introduction, as well as the sections on transactions and timestamp server of ‘Bitcoin: A Peer-to-Peer Electronic Cash System’. YES! That’s the Bitcoin White paper on the @williams racing F1 car Who said # Bitcoin isn’t fast!? pic.twitter.com/HSRMpPHihr — Kraken Exchange (@krakenfx) March 31, 2023 The crypto exchange announced on March 28 it would be partnering with the Williams Racing...

The flash loan exploiter claims they have "no intention of keeping what is not ours" and wants to "come to an agreement" with Euler Finance. Ethereum-based lending protocol Euler Finance could be a step closer to recovering funds stolen in a $196 million flash loan attack last week, with private discussions now initiated with the exploit er. In an on-chain message to Euler on March 20, days after sending funds to a red-flagged North Korean address, the exploiter claimed they now want to “come to an agreement” with Euler. “We want to make this easy on all those affected. No intention of keeping what is not ours. Setting up secure communication. Let us come to an agreement,” said the exploiter. The hacker’s most recent public on-chain message to Euler. Source: Etherscan Hours later, Euler replied with its own on-chain message, acknowledging the message and asking the exploiter to talk “in private,” stating: “Message received. Let's talk in private on blockscan v...

Following USDC’s depegging, three stablecoins — DAI, USDD and FRAX — also depegged from the dollar. The Stablecoin ecosystem felt an immediate effect as USD Coin (USDC) depegged from the US dollar due to a subsequent sell-off after Silicon Valley Bank (SVB) did not process $.3.3 billion of Circle’s $40 million transfer request. Given USDC’s collateral influence, major Stablecoin ecosystems followed suit in depegging from the dollar. Dai (DAI), a Stablecoin issued by MakerDAO, lost 7.4% of its value as a result of USDC’s depegging. As of June 2022, $6.78 billion worth of DAI supply was collateralized by $8.52 billion worth of cryptocurrencies, confirms data from Statista. Dai's total crypto assets used for on-chain collateralization as of June 27, 2022. Source: Statista Out of the lot, USDC represented 51.87% of DAI’s collateral, worth $4.42 billion. Other prominent cryptocurrencies include Ether (ETH) and Pax Dollar (USDP) at $0.66 billion and $0.61 billion respectively. As a re...

The public launch of Polygon ID comes 12 months after it was first launched in a closed-environment to a select group of builders. Polygon, a layer-2 scaling protocol for Ethereum, has launch ed a zero-knowledge decentralized Identity solutionto the public nearly a year after announcing its development. The Polygon ID service uses zero-knowledge proofs (ZK proofs) that use cryptographic techniques to allow users to verify their identity online without having their sensitive information passed or potentially stored with a third party. Polygon Labs publicly released Polygon ID on March 1, almost 12 months after the project was officially launched in a closed-source environment. The Polygon team says Polygon ID was built to “solve the issue of digital trust.” ZERO KNOWLEDGE IDENTITY FOR WEB3 The Polygon ID team is excited to announce 4 tools have been released in the #PolygonID Identity Infrastructure to build a more equitable internet that places identity at the center of it. The futu...

Only 226 validators have been slashed since Ethereum staking began, with 75 of those coming from one single event in Feb. 2021. The Ethereum ecosystem has seen only 226 validator s slashed since the launch of the Beacon Chain on Dec. 1, 2022 — amounting to just 0.04% of 524,060 validator s, according to an Ethereum core developer. Slashing is a process where a validator breaches the proof-of-stake consensus rules, which often results in the removal of that validator from the network and slashing a portion of the staked Ether (ETH) that the validator provided as collateral. Such slim odds of being slashed were highlighted by Ethereum core developer “Superphiz” in a Feb. 23 Twitter post, which suggests that people shouldn’t be concerned about staking ETH for that particular reason. 226 out of 523,000 validators on the beacon chain have been slashed. This is nothing to lose sleep over. Many slashings have occurred during failed system migration. Here are four emerging best practice tips...

The Bitcoin miner announced the purchase of 20,000 new Antminer S19j Pro+ at a 25% discount, approximately $13.25 per terrahash. Bitcoin miner CleanSpark is growing its mining capacity in the United States, with the purchase of 20,000 new Antminer S19j Pro+ units for $43.6 million. The acquisition is expected to boost the company's computing power by 37%, and brings the total number of miners purchased during the bear market to 46,500 units. According to a statement on Feb. 16, CleanSpark will pay $32.3 million for the machines after applying coupons, at a 25% discount or a total price per terrahash of approximately $13.25. The Pro+ rigs are 22% more productive than its previous models and are planned to be delivered in batches between March and May. The company is leveraging the market's lower rig prices to boost its mining capacity, while the Bitcoin (BTC) price rebounds. According to data from Hashrate Index, the current price per TH of same efficiency Bitcoin mining ASICs...

The only exception to the law will be where the public key is unavailable to disclose details of the digital asset, digital identities, interest or right. Wyoming lawmakers have passed a bill that will prohibit courts in the state from forcing someone to disclose their digital asset private keys, with one minor exception. The bill was passed through the Wyoming House of Representative in the state’s 67th general session of 2023 on Feb. 15. If the bill is approved by Wyoming Governor Mark Gordon, the Law will come into effect on Jul. 1, 2023. The new law — W.S. 34-29-107 — titled “Production of private keys; prohibition.” Source: The State of Wyoming Legislature. “No person shall be compelled to produce a private key or make a private key known to any other person in any civil, criminal, administrative, legislative or other proceeding[s]” in the state of Wyoming, the incoming law reads. The law includes any private keys associated with digital assets, one’s digital identity or any ot...

One lawyer said that while stablecoins are meant to be stable, buyers may possibly profit from a range of arbitrage, hedging, and staking opportunities. Recently reported planned enforcement action against Paxos by the United States Securities and Exchange Commission (SEC) over Binance USD (BUSD) has many in the community questioning how the regulator could see a stablecoin as a security. Blockchain lawyer s told Cointelegraph said that while the answer isn't black and white, there exists an argument for it if the stable coin was issued out in the expectation of profits or are derivative of securities . A report from the Wall Street Journal on Feb. 12 revealed that the SEC is planning to sue Paxos Trust Company in relation to its issuance of Binance USD, a stablecoin it created in partnership with Binance in 2019. Within the notice, the SEC claims that BUSD is an unregistered security. don't hate me but custodial stablecoins are probably all securities I have said this consist...