The need for comprehensive crypto tax reform will only become clearer as people start interacting with blockchains – and incurring capital gains taxes – without realizing. Source
Crypto Users Want to Pay Taxes, but We Need Clearer Rules
Day: November 17, 2022
New FTX CEO Says Sam Bankman-Fried Does Not Speak on Firm’s Behalf, After SBF’s Candid Interview With Vox – Bitcoin News
Following the former FTX CEO Sam Bankman-Fried’s (SBF) interview with the New York Times and several direct text messages with Reuters, SBF recently did a much longer and more candid interview with Vox journalist Kelsey Piper. After the interview done via Twitter direct messages, the current FTX chief restructuring officer and CEO John Ray explained that SBF has no ongoing role at FTX International, FTX US, or Alameda Research. Ray further stressed that the former FTX CEO “does not speak on their behalf.” SBF: ‘This Dumb Game We Woke Westerners…
SBF received $1 billion in personal loans from Alameda: FTX bankrupty filing
Former FTX CEO Sam Bankman-Fried received a $1 billion personal loan from one of four silo companies deeply involved in the collapse of the FTX cryptocurrency exchange. A formal declaration in ongoing Chapter 11 bankruptcy filings from FTX’s new CEO John Ray III has revealed further misappropriation of funds by Bankman Fried. According to the filing, Alameda Research had loaned $1 billion directly to Bankman-Fried, while FTX director of engineering Nishad Singh had also received a $543 million loan from the company. Ray III, the man responsible for picking up…
Rikeza Blockchain The Backer Asia Head Manish Live Motivational Speech Rikeza Coin Updated
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Post-FTX Meltdown, Regulation-Abiding Companies Can Restore Trust
What advisors and clients need now from the digital assets space is a trusted partner, someone they can work with. Crypto exchanges will need to diversify their revenue streams to create more stability during crypto downturns, according to Suneet Muru, an analyst on the thematic intelligence team at GlobalData. This demand for more diversification puts pressure on young, technology-driven companies, many of which are still trying to define, develop and scale their businesses. Source companiesMeltdownPostFTXRegulationAbidingRestoreTrust CryptoX Portal
Ethereum Software Firm ConsenSys Co-Launches Ethereum Climate Platform
ConsenSys, an Ethereum-software firm that helped engineer the Merge, is co-launching with 18 other firms the Ethereum Climate Platform (ECP) at COP27’s UN Climate Change Global Innovation Hub. (COP27 is short for 27th Conference of the Parties of the UNFCCC. UNFCCC is short for United Nations Framework Convention on Climate Change. COP27 runs Nov. 6-18 in Sharm el-Shiek, Egypt.) Source
Cardano Blockchain Builder IOG Funds $4.5M Research Hub at Edinburgh University
“IOG has been working with the University of Edinburgh for some time, and I’m thrilled that this new research hub will let us continue to advance our industry,” Hoskinson said in a statement. “Working with leading institutions like Edinburgh to set up these blockchain research hubs is essential to our vision of making academic rigor an industry standard.” Source
Bitcoin Bulls And Bears Tussle As Price Stalls At 16,500; Who Will Come Top?
BTC’s price lost its all-time high of $18,000 as FTX fiascos continued to affect its price. BTC’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors. BTC’s price bounces from a low of $15,500 on the daily timeframe as the price moves in a range below the 50 Exponential Moving Average (EMA) The price action displayed by Bitcoin (BTC) in recent times has yet to be encouraging after its erratic price movement, leading to the price of many altcoins, including…
BTC, ETH Decline as USD Strengthens Following Retail Sales Data – Market Updates Bitcoin News
Bitcoin was in the red for a second consecutive session, as markets continued to digest the latest U.S. retail sales figures. Sales rose by more than expected in October, coming in at 1.3%, versus expectations of a 1% increase. The result fueled market belief that the U.S Federal Reserve will now pivot its policy. Ethereum dropped below $1,200 in today’s session. Bitcoin Bitcoin (BTC) fell for a second straight day, as markets continued to react to the latest U.S. retail sales report. Following the better than expected increase in consumer…
Which companies were affected by the FTX collapse?
While the FTX collapse may have had a severe effect on the broader crypto market, some companies bore the brunt of the impact and were directly hit by the storm that the embattled crypto exchange brought. Here are some of the affected companies that Cointelegraph tracked up to Nov. 17, 2022. Genesis Institutional trading firm Genesis announced on Nov. 11 that it had $175 million in locked funds within the firm’s trading account in FTX. However, the company noted that this does not have an impact on its market-making activities.…