The Internal Revenue Service (IRS) seems to have found a way to block crypto tax evasion, following an update of its tax form. IRS: No Excuses for Crypto Traders According to the Wall Street Journal on Friday (September 25, 2020), the IRS is planning to alter its 1040 tax form. The revised tax form will...Read More
A recent report suggests that the amount of Bitcoin stored on exchanges is declining while BTC whales increase their holdings and that’s bullish for Bitcoin’s price. The paper also highlighted that investors have a much larger time horizon for their holdings now compared to previous years. Bitcoin Stored On Exchanges Drop In its latest report...Read More
In a dedicated live stream, KuCoin’s CEO noted that although why he cannot reveal how much of the company’s total assets were affected during the hack, the stolen fund amount is “small for KuCoin.” The exchange will cover all the losses with its insurance fund. The company first noticed the abnormalities at 2:51 AM, Sept...Read More
Bitcoiners in Venezuela don’t need the internet to send some Satoshis. Today, the crypto payments startup Cryptobuyer announced the successful launch of the first Bitcoin satellite node thanks to a collaboration between Cryptobuyer, Blockstream, and a team led by a crypto enthusiast named Aníbal Garrido. The initiative allows interacting with the Bitcoin blockchain without the...Read More
The cryptocurrency market continues to rebound and has added another $10 billion to its market cap since yesterday. Bitcoin trades around $10,700, while some leading altcoins mark serious gains. Bitcoin Price Trades Around $10,700 Following yesterday’s increase in which Bitcoin topped at $10,800, the primary cryptocurrency retraced to its intraday bottom at about $10,550. However,...Read More
Hot wallets of the popular cryptocurrency exchange KuCoin have been compromised and drained for at least $150 million worth of digital assets. The company reported the event as a “security incident” a few hours ago, reaffirming that “part of Bitcoin, ERC-20, and other tokens in KuCoin’s hot wallets were transferred out of the exchange.” The...Read More
Another action-packed week took place in the crypto field. Unfortunately, the market is currently in decline as the entire capitalization lost around $16 billion over the past seven days. The good news for Bitcoin bulls is that BTC managed to maintain itself above the critical psychological and technical support of $10,000. Things were looking rather...Read More
The popular blockchain company Tezos has become the last integrated network into China’s ambitious Blockchain-based Services Network (BSN). Developers can employ the Tezos protocol through BSN’s global public city nodes and portals for a “simplified development and deployment experience.” All three global public city nodes, namely Hong Kong, California, and Paris, have integrated with the...Read More
Just months after making a grand entrance in the cryptocurrency space, the Barstool Sports Founder Dave Portnoy reaffirmed that he’s out of the field. In a recent podcast with Anthony “Pomp” Pompliano, the controversial day trader justified his exit by claiming that Bitcoin is a giant Ponzi scheme. Portnoy’s Controversial Bitcoin History Portnoy has become...Read More
Uniswap made a shrewd move by airdropping millions of tokens and launching its own liquidity pools to reclaim what SushiSwap had taken from it in just over two weeks. It has propelled the platform back to the most dominant DEX as total value locked approached $2 billion while that on rival SushiSwap has dwindled. Uniswap...Read More
Following a few days of severe price drops, the cryptocurrency market is in a state of recovery today. Bitcoin has surged from $10,300 to nearly $10,800, while Ethereum trades above $340. Bitcoin Bounced Off $10,130 After bottoming at $10,130 a few days ago, the primary cryptocurrency started recovering yesterday and hovered around $10,400. In the...Read More
Spain-based trading software development company, Arbicorp, recently halted the activity of a trading bot. The decision affected more than 32,000 clients who once deposited their money on that platform and now cannot withdraw it. The Arbistar 2.0 trading bot offered 1% daily returns to anyone willing to invest at least 3000 euros ($3500). It also...Read More
A newly-proposed bill with the legislative branch of the Israeli government Knesset submitted several changes to Bitcoin’s taxation. Instead of viewing BTC as an asset and subjecting sales to capital gains tax of 25%, the new legislation plans to recognize it as a currency. New Proposal: Bitcoin As a Currency Not An Asset According to...Read More
Major bank JP Morgan is in the news once again. US authorities have slapped a penalty of almost $1 billion on the country’s largest bank to resolve investigations into its purported manipulation of metals futures and Treasury securities. This comes after a FinCEN report name-dropped JP Morgan for contributing to moving $2 trillion worth of...Read More
When it comes down to sharp price movements, people tend to relate them to the cryptocurrency market and especially alternative coins. However, a massive four-digit percentage price surge occurred yesterday on Wall Street with a little-known company after it announced plans to enter the electric vehicle (EV) business. 3,100% Pump In A Day On Wall...Read More
Recently surfaced FinCEN documents revealed that some giant banks have knowingly transmitted trillions of dollars in suspicious transactions from Ponzi schemes and terrorist organizations. Names such as HSBC, Standard Chartered, Bank of America, JPMorgan Chase, and more, have been collecting significant fees while flying under the radar for years. FinCEN Documents Reveal Big Banks’ Actions...Read More
Testnets serve a very good purpose, and that is to determine whether the technology is capable of running on a much broader scale. For Ethereum, the Medalla testnet has been in operation and growing in terms of staked ETH and validators since early August. Not all validators have been happy with the experience, however, and...Read More
New-York based cryptocurrency exchange Gemini has officially launched in the UK. This comes after the UK’s Financial Conduct Authority (FCA) granted it an Electronic Money Institution (EMI) license. The Winklevoss-led bitcoin and crypto trading platform is also one of the first businesses to receive FCA’s approval as a part of it’s Fifth Money Laundering Directive...Read More
After reclaiming some ground yesterday, Bitcoin has returned to its recent bearish trend by dropping below $10,300. Most altcoins follow with some notable price dips, resulting in a near $10 billion evaporated from the total market cap. Bitcoin Dips Below $10,300 As reported yesterday, the primary cryptocurrency recovered some of the recent losses and traded...Read More
MakerDAO vault holders who lost about $2.5 million during Black Thursday will not receive any compensation following a governance vote that ended on Tuesday. While decentralized finance (DeFi) continues to garner attention, issues like the type suffered by the MakerDAO project earlier in the year continue to plague the market as a whole. MKR Holders...Read More
The Mining industry in Venezuela now has its own regulatory framework. The National Superintendence of Cryptoactives and other Related Activities published on Monday the “Providence that regulates the activities related to the use, import, commercialization of Digital Mining equipment.” The legal instrument appeared in Official Gazette No. 41,969 and is already in effect. It would...Read More
MicroStrategy’s recent purchase of $425 million worth of Bitcoin rapidly grasped the community’s attention. More specifically, people wonder if, what, or how much was the impact on BTC’s price and different theories emerge frequently. Take-One: MicroStrategy Buys BTC The large NASDAQ-listed company providing business intelligence, mobile software, and cloud-based services purchased its first batch of...Read More
Bithumb, the major cryptocurrency exchange in South Korea, is reportedly up for sale following the numerous recent police raids. Bithumb Holdings To Sell Its Stake According to a recent report, Bithumb Holdings, a company that owns 74% of Bithumb Korea, is promoting a sale of the cryptocurrency exchange. The file reads that Samjon KPMG is...Read More
While discussing two popular investment terms on Twitter, Social Capital CEO Chamath Palihapitiya said that his early Bitcoin investment is his best bet. The former senior executive at Facebook also hinted that he has been “sizing up” more bitcoins since his initial purchase years ago. Batting Average Vs. Slugging Percentage The Canadian-American venture capitalist took...Read More
After celebrating its first birthday earlier this month, Binance Futures has announced a new milestone. The derivatives trading platform of the leading cryptocurrency exchange Binance has exceeded $1 trillion in trading volume since the start of the year. Binance Futures Reaches $1T Trading Volume YTD Launched a year ago, Binance Futures rapidly started expanding its...Read More
An Ethereum proposal that could effectively change the fee market mechanism by burning a little ETH for every transaction made is under the spotlight. Ethereum network fees are currently calculated in an auction-like mechanism that works by having everyone submit their bid for how much they’re willing to pay to have their transaction picked up...Read More
Airdrops have apparently become the next big thing in DeFi as means of “fair” distribution of tokens of fresh projects. The first one to really catch the attention of the masses was Uniswap with their UNI governance token. Everyone who used the platform received a minimum of 400 UNI tokens. At the time, many people...Read More
After a failed (but not regretted) attempt, Thesis, the blockchain development company behind Keep Network, has just released the new version of tBTC. tBTC is simply Bitcoin tokenized in the Ethereum blockchain as an ERC20 token backed by the original Bitcoin. The initiative might seem like another one of the many projects that seek to...Read More
Most of the cryptocurrency market is finally taking a breather after a few consecutive days of price drops. Bitcoin sits just shy of $10,500, but some large-cap altcoins like Ethereum are still displaying issues. Bitcoin Hovers Around $10,500 In the past couple of days, Bitcoin went from a top of $11,150 to a bottom of...Read More
Despite the growing DeFi craze in the past few months, a recent survey compiled by CoinGecko revealed that just 23% participate actively in some form of yield farming. However, many of the farmers answered that they don’t know how to read smart contracts but were enjoying high ROIs. Yield Farming Is A Growing Trend This...Read More
