Publicly-traded business intelligence company MicroStrategy revealed that it sold part of its bitcoin stash on December 22 for tax purposes. Although the firm later purchased more bitcoins, the sale defied its promise of never selling any portions of its BTC stash. MicroStrategy Sold BTC for Tax Benefits As reported earlier, MicroStrategy purchased 2,395 bitcoins worth...Read More
Coinbase customers, who had previously sued the crypto exchange over unauthorized crypto transfers, have continued to hold back their account information in a bid to block efforts to move their case to arbitration. A renewed emergency motion filed in federal court revealed that the plaintiffs agreed to provide the necessary information encompassing emails, usernames, and...Read More
It’s no secret that wash trading continues to plague the crypto market. A paper titled “Crypto Wash Trading,” published by the National Bureau of Economic Research (NBER), found that an overwhelming number of unregulated crypto exchanges account for a sizeable portion of wash trades. The nonprofit research organization studied 29 major exchanges, such as Binance,...Read More
Santiment, a blockchain analytics platform, has released an analysis on Bitcoin (BTC) that looks into how whale behavior will affect the price of the king cryptocurrency. The group of Bitcoin owners who hold between 1,000 and 100,000 BTC is recognized for being a solid indication of the direction that the price will go in the...Read More
The price of Bitcoin dropped significantly in 2022 before the abrupt collapse of FTX last month. This was due to rising interest rates, increased association with overvalued tech stocks, and instability in other parts of the cryptocurrency ecosystem. Currently, the price of Bitcoin is around $16,604, with a market capitalization of $319,554,631,816.13. This year, Bitcoin...Read More
While the value of crypto assets such as Filecoin (FIL) and Apecoin (APE) has dropped dramatically, disappointing several investors, many lucrative opportunities still abound in the market. A good example is the Snowfall Protocol (SNW). Snowfall Protocol (SNW) is a fresh and intriguing cryptocurrency concept that many experts believe has a huge potential for rapid...Read More
Bitcoin mining, like the rest of the cryptocurrency industry this year, has taken a serious hit. As we approach 2023, with the hope that the market will flip and crypto prices will recover, industry analysts predict that Bitcoin miners will continue to face hardships. More and more enterprises will need to be vertically integrated by...Read More
Bitcoin (BTC) has had a precipitous decline in value since it reached a spectacular all-time high of $69k in late 2021; at the time of this writing, it is barely hovering at $16,500. A well-known crypto expert known as Rekt Capital has posted a forecast on when the king cryptocurrency would achieve a new all-time...Read More
Popular cryptocurrency exchange Huobi will lay off a significant portion of its workforce and cut the salaries of senior employees, according to Chinese reporter Colin Wu. Last month, the exchange debunked speculation that it would slash its headcount because of the high number of employees at the company. But people familiar with the matter have...Read More
Emiliano Grodzki has stepped down as CEO of leading Bitcoin mining firm Bitfarms, joining a long list of crypto executives who resigned from their positions amid the bear market this year. The mining company named Geoffrey Morphy as its new CEO, promoting him from his role as president and chief operating officer (COO). “Our foundational...Read More
