Day: 18 May 2025

The emergence of Sonic and what it means for DeFi: Report

coiner

Why did Fantom reinvent itself as Sonic? Fantom was one of the pioneers of the directed acyclic graph (DAG) design for distributed ledgers. It featured fast finality and transaction fees of a fraction of a cent. However, Fantom relied on the Ethereum-derived account storage model and the EVM, which led to bloated storage and slow execution times. To address these bottlenecks and implement numerous other updates, the team behind Fantom rolled out Sonic, a fully independent new blockchain network. A new report by HTX  explores Sonic’s technological background, its new…

Read More

SEC delays Solana ETF as decisions for Polkadot, XRP loom

coiner

The US Securities and Exchange Commission (SEC) has pushed back its decision on a proposed spot Solana exchange-traded fund (ETF), with the cryptocurrency industry now looking to the deadlines for the Polkadot and XRP-based ETFs in June. The SEC pushed its decision on listing Grayscale’s spot Solana (SOL) Trust ETF on the New York Stock Exchange (NYSE) to October 2025, according to a May 13 filing by the securities regulator. Delay on Grayscale’s Solana ETF. Source: SEC The decision came the week after the SEC delayed its ruling on Canary…

Read More

UK to require crypto firms to report every customer transaction

coiner

United Kingdom crypto companies will need to collect and report data from every customer trade and transfer beginning Jan. 1, 2026 as part of a broader effort to improve crypto tax reporting, the UK government said. Everything from the user’s full name, home address and tax identification number will need to be collected and reported for every transaction, including the cryptocurrency used and the amount moved, the UK Revenue and Customs department said in a May 14 statement. Details of companies, trusts and charities transacting on crypto platforms will also…

Read More