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Former Federal Reserve Chairman Janet Yellen is likely to become the next U.S. Treasury Secretary. The Wall Street Journal reported Monday that President-elect Joe Biden plans to nominate Yellen in the coming days, positioning the longtime economist to succeed current Secretary Steven Mnuchin. While Yellen hasn’t said a lot about bitcoin, she is clearly familiar with the cryptocurrency and blockchain technology, and spoke about both while she was still in office. It’s unclear how Yellen might approach crypto regulations, or if they’ll even be a priority. However, the Office of…
XRP has surprisingly been one of the best performing altcoins throughout the past few days, far surpassing the gains seen by Ethereum over the past month and even outperforming Bitcoin’s gains seen over the past week or two. This comes following a prolonged bout of sideways trading that persisted for over a multi-year period. The break above the $0.30 level – which has long been a strong resistance level – seems to be what sparked this movement, and the parabolic uptrend seen in the time since confirms the significance of…
More than 500,000 ETH have been locked and loaded into Ethereum 2.0’s deposit contract, kick-starting the network’s major, multi-year development phase. JPMorgan analysts say institutions are piling into bitcoin. And the IRS has again sent out (possibly erroneous) letters to crypto traders indicating they owe taxes on unrealized gains. Top shelf Taxman knockethThe Internal Revenue Service (IRS) is again sending mixed messages related to crypto trading and tax reporting obligations. Allegedly, “dozens of individuals” have received CP2000 letters detailing how much the IRS believes traders owe – based on gains…
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Bitcoin (BTC) mining continues to ramp up following the successful May 11 halving, but growing industry concentration could undermine the “democratization of hash rate,” according to a panel presentation at this year’s Mining and Investment Summit. Hosted by Matrixport and sponsored by Bitmain, the 2020 Mining and Investment Summit was held virtually Tuesday morning, bringing together the “leading companies in the fields of cryptocurrency mining and digital asset financial services.” In a presentation called “Bringing Bitcoin Mining to a Broader Market,” Thomas Heller of HASHR8 provided an update on the mining…
Bitcoin and XRP are not the only currencies whose price has shown such performance. Other altcoins like Ethereum (ETH), Chainlink (LINK) are on a steady rise as well. This week, Bitcoin (BTC) and XRP (XRP) are under the spotlight of crypto enthusiasts as the price of both currencies has shocked the community. While Bitcoin is on the way to break the $20k level, XRP has managed to soar by nearly 80% to hit $0.79, which is the highest since May 10, 2018. Bitcoin Price to Reach $19,000 On November 24,…
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Lattice is set to solve the issues of latency and high transaction fees that hinder exchanges with a streamlined process between Constellation Network and Ethereum for faster settlements on trades, loans, swaps, and other DeFi transactions. A little over two weeks ago, Ben Jorgensen, co-founder and CEO of the DeFi app Lattice Exchange, spoke of the community values that brought him to work on blockchain technology and shared his ideas about the future of the space. He built Constellation Network, a third-generation protocol that addresses such apps’ scalability issues. Two…
Bitcoin price is trading well above $19,000 and it is the last stop before reaching $20,000 and setting a new all-time high. With no further resistance above the former peak, will the cryptocurrency go fully parabolic and enter price discovery mode starting today? Or will a long-overdue correction unfold with the vast majority of investors sitting in profit? Bitcoin Approaches All-Time High, Only Moments Remain Where Buying BTC Was Unprofitable The first-ever cryptocurrency is on a complete tear, defying gravity and going parabolic over the last several weeks. From the…