U.S. GDP has contracted for the second consecutive quarter. On July 28, the Commerce Department reported that gross domestic product had fallen by 0.9% between April and June. The United States has been in negative GDP for the first six months of this year, which has traditionally meant that it is in recession. The figure...Read More
After a brief delay caused by the war between Russia and Ukraine, US President Joe Biden is expected to sign the executive order about cryptocurrency regulations this week. In it, sources said Biden would cooperate with other allies to ensure they were all on the same page. The Delay of the Executive Order CryptoPotato reported...Read More
The White House recently released a first-of-its-kind, 38-page report detailing new efforts to fight state and financial corruption. It breaks down the effort into five strategic pillars, one of which bears mention of a new “National Cryptocurrency Enforcement Team”. Prosecuting Crypto Criminals The Biden Administration released the document through a statement from the White House’s...Read More
Biden wants to regulate everything, and it seems that cryptocurrencies are directly in his crosshairs. Apparently, the president of the United States is seriously considering issuing an executive order on cryptocurrencies in order to get better clarity of the landscape and exercise a better control over the industry and the activities related to cryptocurrencies. The...Read More
With his approval ratings battered by several failures in the withdrawal from Afghanistan, Joe Biden is turning his attention to massive infrastructure spending and expanding the government’s programs to provide a social safety net for Americans who are struggling. Biden Proposes Tax Hikes to Boost Washington’s Budget If passed, Biden’s tax plan would raise the...Read More
Tim Wu – a leading antitrust expert at the White House – owns between $1 and $5 million in bitcoin. His crypto investment represents the largest chunk of his portfolio. The Critic Turned out to Be a HODLer According to Politico, Tim Wu – who is also an attorney and a legal scholar – holds...Read More
The Biden administration plans to enhance cryptocurrency tracking as part of macro endeavors to reduce the pain from ransomware attacks, said the Deputy Press Secretary. The government’s actions come amid several consecutive hacks on US soil. What is Ransomware and US Attacks? Ransomware attacks mean that the perpetrators infiltrate individuals or organizations to encrypt sensible...Read More
All transactions above $10,000 now have to be reported to the IRS for documentation and taxation purposes. This comes right after a major market-wide correction which saw the price of bitcoin tumbling down to $30K. IRS Doubles Down The IRS will be expanded with an $80B package aiming to increase their manpower and resources. Individuals...Read More
A new rule under the hat of the COVID-19 relief bill will see 39 million US households receive up to $3,600 monthly starting from mid-July. Given the history between BTC’s price appreciation since the first-ever stimulus bill, the narrative rises now if this latest endeavor will push bitcoin higher again. 39M American Families to Receive...Read More
Founder of crypto derivates exchange FTX, Sam Bankman-Fried, has made a contribution of $5.2 million to the campaign of U.S Democratic presidential candidate, Joe Biden. Data from OpenSecrets.org, noted this donation on their Top Contributers page, which lists the money that came from organization’s PACs, individual members, employees, and their immediate families. According to a...Read More
Among the numerous issues that will define the 2020 U.S. presidential election, the topic of Bitcoin and blockchain technology is inching its way to the forefront. Indeed, in varying degrees, top democratic presidential contenders have already referred to Bitcoin and its technology. Andrew Yang’s Vision Is Consistent with Crypto Community Among the democratic candidates, Andrew...Read More
