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New US Bill Aims to Clarify Taxation of Staking Rewards
-Two bipartisan lawmakers, Reps. Wiley Nickel, D-N.C., and Drew Ferguson, R-Ga., have introduced the Providing Tax Clarity for Digital Assets Act. The bill aims to clarify that staking rewards should only be taxed at the time of their sale to prevent double taxation. Rep. Ferguson emphasized the need for clarity in the treatment of digital … Continue reading "New US Bill Aims to Clarify Taxation of Staking Rewards"
Securitize Raises $47M Led by BlackRock for RWA Tokenization
-Securitize, a leading player in RWA tokenization, has closed a significant $47 million funding round, with BlackRock spearheading the investment. This collaboration underscores the growing momentum and promise within the RWA tokenization landscape. The investment round, announced on May 1, saw participation from key financial institutions including Hamilton Lane, ParaFi Capital, and Tradeweb Markets. The … Continue reading "Securitize Raises $47M Led by BlackRock for RWA Tokenization"
Bitcoin ETFs Show Record Discounts, Signaling Stress
-Spot-Bitcoin exchange-traded funds (ETFs) are exhibiting signs of stress as the cryptocurrency market endures a downturn, with prices of major ETFs tracking Bitcoin witnessing significant discounts to their underlying asset values. Following a roughly 5% decline in Bitcoin’s price, several leading ETFs recorded their largest discounts on the value of underlying assets in their short … Continue reading "Bitcoin ETFs Show Record Discounts, Signaling Stress"
Bitcoin Hits Record 1.6M Confirmed Daily Transactions
-On April 23, three days after the Bitcoin halving event, an impressive 1.6 million unique Bitcoin transactions were recorded, according to data from Blockchain.com and Glassnode. This notable increase in transactions indicates a growing interest in using Bitcoin for everyday transactions, expanding its conventional role beyond being merely a store of value. Bitcoin Runes Lead … Continue reading "Bitcoin Hits Record 1.6M Confirmed Daily Transactions"
MicroStrategy Shares Plummet 17% Amid Crypto Stock Selloff
-Major U.S. crypto stocks, including bitcoin stockpiler MicroStrategy and leading exchange Coinbase, experienced significant losses in Tuesday’s trading session. MicroStrategy reported a 5% year-over-year decrease in first-quarter revenue, contributing to a sharp decline in its share price. MicroStrategy’s shares plummeted by as much as 17% on Tuesday following news of its missed earnings and the … Continue reading "MicroStrategy Shares Plummet 17% Amid Crypto Stock Selloff"
Bitcoin Investor Roger Ver Arrested for Alleged Tax Fraud
-Roger Ver, an early investor in Bitcoin, has been arrested and charged with mail fraud, tax evasion, and filing false tax returns. The U.S. Department of Justice announced the charges, revealing that Ver allegedly concealed Bitcoin ownership from the U.S. Internal Revenue Service (IRS), leading to an estimated loss of $48 million. The indictment, recently … Continue reading "Bitcoin Investor Roger Ver Arrested for Alleged Tax Fraud"
Coinbase Adds Lightning Network Support with Lightspark
-Coinbase, the largest crypto exchange in the United States by trading volume, has initiated support for the Lightning Network starting today, marking a significant step towards enabling faster and more cost-effective bitcoin transactions for its users. The integration follows seven months after Coinbase confirmed its decision to incorporate the Lightning Network protocol, aligning with competitors … Continue reading "Coinbase Adds Lightning Network Support with Lightspark"
Hong Kong Bitcoin and Ether ETFs Debut with Low Activity
-The launch of crypto exchange-traded funds (ETFs) in Hong Kong fell short of expectations, with trading volumes significantly lower than anticipated. Trading volume for Hong Kong’s crypto ETFs totaled just over $11 million, with bitcoin ETFs accounting for $8.5 million and ether ETFs for $2.5 million. This figure paled in comparison to initial projections, which … Continue reading "Hong Kong Bitcoin and Ether ETFs Debut with Low Activity"
Backed Raises $9.5M Led by Gnosis in Crypto’s Asset Race
-Switzerland-based Backed has successfully closed a $9.5 million fundraising round, with Gnosis leading the investment charge. According to one asset management company’s forecast, the tokenized real-world asset market could reach a staggering $10 trillion by the decade’s end. Backed, a tokenized asset issuer, announced on Tuesday that it secured $9.5 million in funding, with Gnosis … Continue reading "Backed Raises $9.5M Led by Gnosis in Crypto’s Asset Race"
Wasabi Wallet and Phoenix Exit US Amid Crypto Wallet Crackdown
-In response to mounting regulatory pressure, Wasabi Wallet and Phoenix have ceased operations for customers in the United States. The companies behind these wallets, zkSNACKs and ACINQ respectively, announced the suspensions following recent actions taken by U.S. authorities against similar cryptocurrency services. zkSNACKs has taken proactive measures to block access to its services from U.S. … Continue reading "Wasabi Wallet and Phoenix Exit US Amid Crypto Wallet Crackdown"
South Korea Establishing Crypto Investigative Unit Amid Crime Surge
-South Korea is taking proactive measures to address the surge in cryptocurrency-related crimes by considering the transformation of its temporary crypto-crime investigative unit into a permanent department, as per a local report. The nation witnessed a substantial increase in suspicious transaction reports from crypto companies, prompting the government to enhance its efforts in combating fraudulent … Continue reading "South Korea Establishing Crypto Investigative Unit Amid Crime Surge"
Ether Gains Weekly Against Bitcoin Amid BTC Dominance Drop
-Ether has demonstrated strong performance against Bitcoin for two consecutive weeks, indicating a growing interest in altcoin gains following recent market developments, according to analysts at Bitfinex. Despite bitcoin’s halving event, ether recorded a notable 7.5% increase in its trading pair with BTC, marking its most significant weekly gain against bitcoin since early January. Bitfinex’s … Continue reading "Ether Gains Weekly Against Bitcoin Amid BTC Dominance Drop"
Bitcoin Testnet Experiences Disruption Due to Griefing Attack
-A recent griefing attack on the Bitcoin testnet has caused significant disruption, leading to the generation of three years’ worth of blocks in just one week. Griefing attacks involve intentionally spamming transactions on a network, increasing its workload, and disrupting its normal operations. Jameson Lopp, co-founder and Chief Security Officer of Casa, publicly claimed responsibility … Continue reading "Bitcoin Testnet Experiences Disruption Due to Griefing Attack"
Trust Wallet Returns to Google Play Store
-Trust Wallet has made a swift return to the Google Play Store after experiencing a temporary removal on Monday morning, causing concern among Android users relying on the crypto wallet service. The company addressed the issue via its official channels, acknowledging Google’s decision to temporarily remove the app from the Play Store. Despite submitting an … Continue reading "Trust Wallet Returns to Google Play Store"
Tether Acquires Majority Stake in Blackrock Neurotech
-Tether, the prominent issuer of stablecoin USDT, announced on Monday a significant investment of $200 million to acquire a majority stake in Blackrock Neurotech, a pioneering brain-computer interface company. Through its venture capital arm, Tether Evo, the company aims to support the development and commercialization of Blackrock Neurotech’s groundbreaking medical devices. Blackrock Neurotech specializes in … Continue reading "Tether Acquires Majority Stake in Blackrock Neurotech"
Binance Faces Class-Action Lawsuit in Canada, CZ Potentially Facing 36 Months in Prison
-Cryptocurrency exchange Binance finds itself entangled in a fresh legal battle as a new class-action lawsuit unfolds in Canada. Plaintiffs allege that Binance has run afoul of local securities regulations. The Ontario Superior Court of Justice has initiated a certification motion for a class-action lawsuit against Binance. The core accusation revolves around the sale of … Continue reading "Binance Faces Class-Action Lawsuit in Canada, CZ Potentially Facing 36 Months in Prison"
MicroStrategy’s Saylor Profits from Bitcoin Surge
-Michael Saylor’s bold move to embrace Bitcoin in 2020 has yielded substantial gains for the co-founder and executive chairman of MicroStrategy Inc (NASDAQ:MSTR). Saylor has reportedly earned around $400 million from pre-planned daily sales of approximately 5,000 shares of MicroStrategy since January, fueled by the stock’s remarkable surge. The stock, which has doubled this year … Continue reading "MicroStrategy’s Saylor Profits from Bitcoin Surge"
Bitcoin ETFs Slow: BlackRock’s IBIT Streak Ends, Fidelity Sees Outflows
-This week witnessed a notable shift in the momentum of two of the most successful exchange-traded fund launches in history. BlackRock’s (NYSE:BLK)spot Bitcoin ETF, IBIT, renowned for its remarkable performance, experienced zero inflows on Wednesday and Thursday, marking the end of its 71-day streak of fresh investments totaling approximately $17.24 billion in assets under management … Continue reading "Bitcoin ETFs Slow: BlackRock’s IBIT Streak Ends, Fidelity Sees Outflows"
US Bitcoin ETFs: Daily Outflow Hits $120M
-Total net outflows from 11 U.S. spot bitcoin ETFs reached $120 million on Wednesday, with eight products recording zero flows, a trend deemed normal by analysts. Grayscale’s GBTC witnessed $130.42 million exiting the converted bitcoin ETF, while Fidelity and Ark Invest’s funds were the sole recipients of inflows, totaling approximately $10 million. Among the eight … Continue reading "US Bitcoin ETFs: Daily Outflow Hits $120M"
Bitcoin Ownership Surges as Small Addresses Hit Record High
-A recent report from Fidelity Digital Assets highlights a substantial increase in the number of Bitcoin addresses holding at least $1,000 worth of Bitcoin (BTC). Fidelity’s analysts reveal that this segment soared to an unprecedented 10.6 million wallets in mid-March, marking a doubling from the 5.3 million addresses recorded in 2023. The surge in Bitcoin … Continue reading "Bitcoin Ownership Surges as Small Addresses Hit Record High"
BlackRock’s Bitcoin ETF Sees Inflow Boom End
-For 71 consecutive days, BlackRock Inc.’s Bitcoin fund experienced an impressive streak, accumulating nearly $18 billion in one of the most significant exchange-traded fund launches in history. However, investor interest has waned as the fervor surrounding cryptocurrencies subsided. Data compiled by Bloomberg reveals that daily inflows into the ETF, identified by the ticker IBIT, dwindled … Continue reading "BlackRock’s Bitcoin ETF Sees Inflow Boom End"
Bitcoin Achieves All-Time Low Inflation Rate Post-Halving
-Bitcoin’s inflation rate has plummeted to a historic low of approximately 1.74% following the recent Bitcoin halving. With 93.3% of Bitcoin already mined, amounting to 19.6 million out of a possible 21 million BTC, the scarcity element is poised to escalate demand, potentially propelling the leading cryptocurrency’s price surge. In contrast, fiat currencies grapple with … Continue reading "Bitcoin Achieves All-Time Low Inflation Rate Post-Halving"
Runes Dominate 68% of Post-Halving Bitcoin Transactions
-Runes, resembling BRC-20s, emerge as a significant protocol utilizing the Bitcoin network, claiming a substantial 68% share in Bitcoin transactions since the halving. However, Bitcoin miners face diminishing returns amidst this surge. Similar to BRC-20s, Runes operates by compensating fees in Bitcoin to mint new tokens. Differing from Ordinals’ “inscription” account model, Runes utilizes the … Continue reading "Runes Dominate 68% of Post-Halving Bitcoin Transactions"
FTC’s Non-Compete Ban: Victory for Crypto
-When news broke about the U.S. Federal Trade Commission’s decision to prohibit non-compete agreements, it brought back memories of my own experience leaving a blockchain startup to join another early-stage company. Upon my departure, my former employer sent a cease-and-desist letter alleging a breach of a non-compete clause in my employment contract. Despite the weak … Continue reading "FTC’s Non-Compete Ban: Victory for Crypto"
Paystand’s DeFi-Driven Acquisition: Transforming B2B Payments
-Paystand (NASDAQ:PAYS) has made a strategic move by acquiring spend management software startup Teampay, aiming to establish a “no-fee B2B digital payment and spend powerhouse.” While the financial terms of the deal were not disclosed, Teampay has successfully raised $65 million since its inception in 2016. The merger brings together two entities servicing over 1 … Continue reading "Paystand’s DeFi-Driven Acquisition: Transforming B2B Payments"
Ethereum (ETH) Investors Assess Potential for $4,000 Rally or $3,000 Dip
-Amidst a broader market crash, Ethereum experiences a 2.50% decline, fueling concerns of a potential drop to $3,000. Despite this setback, some investors maintain optimism for long-term gains, pointing to the possibility of a bullish trend triggered by Bitcoin Halving. However, ETH faces resistance even as it finds support at $2,850, with conflicting signals from … Continue reading "Ethereum (ETH) Investors Assess Potential for $4,000 Rally or $3,000 Dip"
Industry Sources Anticipate SEC Denial of Spot Ether ETFs Next Month
-Industry insiders anticipate the Securities and Exchange Commission (SEC) will reject proposals for exchange-traded funds (ETFs) linked to the price of ether in the coming month, according to sources familiar with the matter. Several firms, including VanEck and ARK Investment Management, have submitted applications to the SEC seeking approval for ETFs that would mirror the … Continue reading "Industry Sources Anticipate SEC Denial of Spot Ether ETFs Next Month"
Asset Tokenization: A Paradigm Shift in Financial Markets
-Financial markets are experiencing a profound transformation with the rise of asset tokenization, signaling more than just a passing trend among technology enthusiasts. It represents a fundamental evolution in the management and transaction of assets on a global scale. The distinction between crypto-native tokens and tokenized real-world assets is paramount. While crypto-native tokens like bitcoin … Continue reading "Asset Tokenization: A Paradigm Shift in Financial Markets"
CoinPoker Adopts Zero Withdrawal Fees Trend
-CoinPoker, a crypto betting app, has recently abolished all withdrawal fees on its platform, aligning itself with industry trends seen in online gambling sites like Rollbit. This strategic move is expected to enhance CoinPoker’s competitiveness and potentially attract more users over time, especially as it offers similar features to Rollbit and introduces unique propositions such … Continue reading "CoinPoker Adopts Zero Withdrawal Fees Trend"
Bitcoin Bulls Bet on Weaker Dollar for Rally Extension
-As the Dollar Index (DXY) experiences a recent pullback, crypto traders are banking on continued dollar weakness to fuel a resurgence in Bitcoin (BTC), although some banks hold a contrary view. Recent trends have seen Bitcoin trading within the $60,000 to $70,000 range since mid-March, with the dollar’s bounce on the DXY contributing to this … Continue reading "Bitcoin Bulls Bet on Weaker Dollar for Rally Extension"
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