Lawmakers in Korea are planning to postpone a recently considered tax on crypto assets profits. Reports say the tax rule delay will be about three months – instead of October 2021, January 2022. The New Crypto Income Tax Rule To Wait Until January 2022 According to a recent media report, the South Korean congress plans to...Read More
The San Francisco-based payment protocol has filed a document on Friday with the US Securities and Exchange Commission (SEC). It reads that Ripple Labs has entered into an agreement with MoneyGram, which entitles Ripple to sell up to 4,000,000 shares of common stock. Ripple’s option to sell these shares will expire “upon the earliest of...Read More
Bitcoin has a way of surprising people. This week was no exception. A few days ago, almost everyone believed that the cryptocurrency is inevitably headed to a new all-time high. And how could they not? BTC was trading at a few hundred USD below the record from back in 2017. Unfortunately, things took a turn...Read More
Users withdrew a record 29,300 BTC from OKEx after the Malta-based cryptocurrency exchange resumed withdrawals yesterday. This comes after bitcoin (BTC) price kickstarted its epic freefall dropping to levels near $16,500 before bouncing back up again. But what is the reason behind the massive bitcoin exodus out of OKEx? OKEx Sees Significant BTC Withdrawals And...Read More
Although Facebook failed to launch Libra in mid-2020 as initially planned, the social media giant could do so in early 2021. Finance Times cited three people working on the project claiming that Libra’s long-awaited launch could come in January 2021 but in a scaled-down version. CryptoPotato reported before that Libra already changed its original idea...Read More
Coinbase’s CEO Brian Armstrong has sent a letter to the US Treasury Secretary Steven Mnuchin regarding new rumored regulations on self-hosted cryptocurrency wallets. Armstrong believes that if implemented, the new legislation could harm users and, ultimately, the role of the US in the cryptocurrency financial field. New Regulations On Self-Hosted Crypto Wallets? The CEO of...Read More
Ethereum is currently retracting sharply from its previous and 30-month peak of $620. Even with a decline of around $100 to today’s prices of $525, ETH is still up over 300% since the beginning of the year. The confirmed genesis of the long-awaited Beacon Chain, which is Phase 0 of the even longer awaited Serenity...Read More
Founded in 1999, SBI Group is a financial services company based in Tokyo, Japan. Apart from offering numerous traditional financial services, the SoftBank Group subsidiary announced today a new cryptocurrency-related endeavor. SBI Group has introduced a digital asset lending service through its cryptocurrency arm – SBI VC Trade. The statement informed that the platform, dubbed...Read More
Amidst the excitements of BTC hitting an all-time high, Bitcoin bull and ex-hedge fund manager Mike Novogratz said, in an interview with Yahoo Finance, that Bitcoin was designed for every investor. “Bitcoin is for everyone,” he said, adding that “Everyone should put 2% to 3% of their net worth in bitcoin and look at it...Read More
With China making significant strides in crypto and blockchain development, the US Intelligence apparatus is reportedly worried about the US falling far behind its current economic rival. From crypto mining to central bank digital currencies (CBDCs), there is a popular narrative that Beijing controls vast swaths of the emerging digital economic landscape. A dismissal of...Read More
PayPal users who use the service for high-frequency crypto trading should be cautious about having their accounts banned. One Redditor reportedly learned this lesson recently with the payment giant placing a 180-day hold on his purse that still has about $462. Apart from the likelihood of users facing account closures for trading crypto on PayPal,...Read More
Global cryptocurrency exchange and digital asset management platform Bitrue has moved to strengthen the security of its daily XRP raffles by integrating Chainlink technology. Bitrue Implements Chainlink VRF Chainlink’s Verifiable Randomness Function (VRF) was selected specifically by the Bitrue team to add tamper-resistant transparency to its daily random number lottery, where users can win a...Read More
Founded in 1955, VanEck is among the world’s largest investment management firms. Its European branch, VanEck Europe, announced today the official release of an ETN, physically-backed by Bitcoin. The statement came from the company’s digital asset director – Gabor Gurbacs. He noted that releasing such a service has been a “top priority for VanEck.” The...Read More
The Coinbase Chief Legal Officer Paul Grewal published a post earlier informing customers that the popular exchange will seize offering margin trading. Clients will not be able to place margin trading orders starting from 2 p.m. PT on November 25th, 2020. At the same time, the platform will cancel all open limit orders. The San...Read More
In a move adding to the already monumental rally, Bitcoin prices touched $19,400 during late trading on Tuesday, November 24. This is just 3% away from its peak of $20K which came in December almost three years ago. Since then, the asset has retreated sharply in a $700 pullback to the mid-$18K level where it...Read More
The popular decentralized cryptocurrency exchange (DEX), IDEX, has announced a multi-chain solution that is intended to expand its entire infrastructure to additional blockchains, namely, Polkadot and Binance Smart Chain. IDEX Expands to Binance Smart Chain and Polkadot In a press release shared with CryptoPotato, IDEX has revealed its multi-chain solution. Called Multiverse, it’s intended to...Read More
South Korea’s largest cryptocurrency exchange Bithumb announced today that it is shutting down its offline offices as Korea struggles with a renewed coronavirus outbreak. Bithumb Suspending Offline Support Since the start of November, the country has been recording increased daily cases of COVID-19, with the number tripling in the last nine days. This has raised...Read More
The much-anticipated upgrade of Ethereum from version 1 to version 2.0 will finally happen on December 1. This confirmation comes after the deposit contract fulfilled its ETH staking objective. ETH prices responded to the development by blasting past the $600 level. Ethereum 2.0 Deposit Contract Fulfils Staking Objective The Ethereum 2.0 deposit contract has met...Read More
It is now a well-known fact that payments giant PayPal is knee-deep in the Bitcoin market. In today’s interview with CNBC, CEO Dan Schulman explained his rationale behind the world’s top cryptocurrency value. He also elucidated on why his company is placing giant buying bets on BTC. The Utility Surrounding Bitcoin And Cryptocurrencies Is What...Read More
Less than two months after its latest network upgrade, Ethereum Classic plans to undergo another one on November 29th. Dubbed Thanos, the new hard fork will enhance security while maintaining its compatibility with Ethereum. Thanos Is An Inevitable ETC Network Upgrade The Ethereum Classic team would like to quickly forget the summer of 2020. In...Read More
Andre Cronje, the brain behind the popular DeFi protocol Yearn Finance and the most expensive cryptocurrency YFI, has unveiled yet another DeFi protocol called Deriswap. Obsessed With Capital Efficiency The project focuses on capital efficiency, an aspect of DeFi that Cronje said he is obsessed with. The YFI creator is set to change the current...Read More
The forthcoming Crypto.com Visa cards for Canadian citizens are reportedly coming early next year and are considered another step in the country’s recent turn towards cryptocurrency adoption. Visa Cards For Canadians As Early As January 2021 The digital assets exchange and app Crypto.com has officially announced that citizens of Canada are now able to apply for...Read More
After running a 12-month test, U.S.-based digital asset investment management DAiM has announced the launch of the first employer-sponsored 401(k) plans that use bitcoin as a base currency. According to the announcement today, DAiM notes that the new service is compliant with the Retirement Income Security Acts of 1974 (ERISA) and will be fully available...Read More
Ignoring all known rules of gravity, Bitcoin has taken for the skies, and it shows absolutely no signs of slowing down. This week the cryptocurrency is up by another 14% and is currently trading just about 6% below its all-time high of around $20,000 reached in December 2017. The week started off fairly calmly, and...Read More
Scams within the cryptocurrency industry come in different shapes and forms, including impersonating legitimate applications downloadable from trusted establishments. A popular digital asset commentator recently warned the community about such a scam using the Uniswap name, resulting in the loss of $20,000. $20K Lost In A Uniswap-Impersonating Scam Uniswap is a sort of decentralized exchange...Read More
Speaking on a Reddit Ask Me Anything (AMA) session on November 17, Vitalik Buterin and a number of Ethereum Foundation members commented on the future of the network and the highly anticipated launch of ETH 2.0. More Delays Likely When questioned about a complete timeline for sharding and the consensus migration, Buterin explained that scaling...Read More
Qtum, the blockchain DApp platform, is set to become the new kid on the decentralized finance (DeFi) block with the launch of the QiSwap mainnet. As the first automatic market-making (AMM) protocol on Qtum, QiSwap brings Uniswap-like features to Qtum, allowing users to easily exchange QTUM and QRC20 tokens and provide liquidity — while benefiting...Read More
Over a month after suspending deposits and withdrawals from its platform, the popular cryptocurrency exchange OKEx has announced plans to reinstate those services by November 27th. CryptoPotato reported in mid-October that OKEx co-founder Xu Mingxing had been taken away by police officers and was still missing. The exchange halted withdrawals and deposits, claiming that a...Read More
ETH/USD – Ethereum Rejected By Rising Price Channel Upper Boundary Key Support Levels: $465, $447, $439.Key Resistance Levels: $490, $500, $511 On Monday, Ethereum found support at the $447 level, which allowed the coin to rebound higher. From there, it pushed higher to break $475 (September high-day close) and reach the resistance at the upper...Read More
Ethereum bulls are busy pumping the network’s native cryptocurrency ETH as if there’s no tomorrow. So much so that the asset almost tested the $500 resistance today. But what’s even more interesting is the gradual progress on the staking front for Ethereum 2.0’s launch. Depositors have already staked more than 100,000 ETH in the ETH2...Read More
