Today In Crypto: UFC Fighters To Get Bonuses In Crypto; VCs Face Risk Of Crypto Hack Bailouts

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According to Bloomberg on Thursday, the Ultimate Fighting Championship proposes to offer a new bonus to competitors who fight in crypto (April 7).

With crypto platforms becoming more integrated into major sports, the top three combatants on each UFC pay-per-view event will get bitcoin rewards, which will be determined by fan votes. The victors will share $60,000 in prize money.

In addition, Bloomberg reported on Thursday that, with hacks and scams being a part of the crypto landscape, it may be time for venture capitalists (VCs) to adapt their strategy.

Key Takeaways From The Report

According to the research, high-profile attacks on critical activities like token transfers have taken over $1 billion to date. With expenses rising, VCs are considering new ways to be more accountable for their investments, with some founders suggesting that firms should evaluate code and security protocols before investing.

Conclusion

Furthermore, according to CoinDesk, the Slovenian government has unveiled a flat-rate tax proposal for cryptocurrency redemptions and has requested swift approval from Parliament.

The tax is part of the government’s recovery plan for COVID. It would be due whenever virtual currencies are sold or exchanged, and the effective rate would be little under 5%.

Finally, Coinbase’s trading launch in India might have some stumbling blocks — the National Payments Corporation of India (NPCI) said it’s “not aware” of any crypto exchange using UPI, the popular payment system there.

In other events, CoinDesk revealed on Thursday that Cash App will be launching soon.  As CoinDesk reported Thursday, UPI is a popular real-time payment system.

NPCI is an initiative of the RBI and the Indian Banks’ Association, and the RBI has said crypto should be totally banned in India.

Read More: FDIC Asks All Banks To Report Crypto Activities

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