Machine efficiency and low cost of power are key to surviving the bitcoin halving. Original
Bitcoin Mining Computing Power May Drop as Much as 30% After Halving: Experts
Month: July 2023
Stellar, Ripple and Solana-Based Investment Funds See AUM Spike in July
The large gains began following Ripple’s partial court victory over the SEC in the middle of the month. Source
Judge suggests IRS issued $4K refund over tax lawsuit based on quality of lawyers: Report
Oral arguments began on July 26 for an appeals case on a complaint a Tennessee couple filed against the United States Internal Revenue Service (IRS) on calculating their taxes based on earnings from staking tokens. Joshua and Jessica Jarrett received a refund check from the IRS in 2021 after filing a lawsuit arguing the IRS had no right to tax income or profit from staked Tezos (XTZ), as the tokens were “created” and not sold. The couple originally reported the staked crypto as “other income” on their 2019 tax returns,…
U.S. Justice Department Wants to Jail Sam Bankman-Fried
While Judge Lewis Kaplan, of the Southern District of New York, declined to jail Bankman-Fried immediately, he set out a rapid schedule for both the prosecution and the defense to make formal written submissions on the matter. The DOJ has until Friday to file theirs. The defense can respond until Tuesday, and the DOJ can file a final response by Aug. 3. Source
SEC passes new ‘conflict of interest’ rules governing how brokers can use AI
The United States Securities and Exchange Commission (SEC) approved a set of sweeping changes to the rules governing the use of “optimization functions” by brokers in a committee vote on July 26. We have an upcoming @SECGov Open Meeting on July 26 | 10am ET We’ll be discussing:1⃣Cybersecurity Risk Management, Strategy, Governance, & Incident Disclosure2⃣Use of Predictive Data Analytics3⃣Exemption for Certain Internet Advisers From the Prohibition Against Registration — Gary Gensler (@GaryGensler) July 20, 2023 During an internal meeting streamed on the SEC’s website, Chairman Gary Gensler invoked everything from…
Reddit Releases Gen 4 Collectible NFT Avatars, “Retro Reimagined”
The Reddit team learned from its previous drop in April, implementing anti-bot measures such as CAPTCHA to ensure a smoother rollout. In addition, the team is launching “initial access” for the first day of the release, which looks at your account age and “other metrics” and limits the number of collectibles you can purchase in one swoop. Collectors can spend up to $1,000, with a one-purchase per collectible avatar limit during this time. Initial comments in the r/CollectibleAvatars posts post-launch are mostly positive, though there were some complaints about glitches…
Price analysis 7/26: BTC, ETH, XRP, BNB, ADA, SOL, DOGE, MATIC, LTC, DOT
Bitcoin and several major altcoins are trading inside a range, indicating that a strong catalyst is needed to start the next trending move. Bitcoin broke below the support of its narrow range on July 24, but the bears have not been able to capitalize on it and start a sharp downward move. This is a positive sign, as it shows a lack of aggressive selling at lower levels. The bulls will have to push and sustain the price back above $31,000 to trap the aggressive bears. Bitcoin’s (BTC) volatility is likely to…
What On-Chain Data Says About The Latest Dip Below $30,000
The Bitcoin price has been underwhelming in the past few days, reflecting the current state of the cryptocurrency market. On Monday, July 24, investors watched the price of the premier cryptocurrency retreat beneath the $30,000 mark again. Let’s look at what the on-chain metrics say about this latest fall below the critical price level. 69% Of Bitcoin Holders In Profit After Fall Below $30,000 A data report from IntoTheBlock reveals that roughly 68.96% of Bitcoin holders remained green after the price retreat below the $30,000 mark. There is also an…
McDonald’s in the metaverse, pro players to try Web3: Nifty Newsletter
In this week’s newsletter, read about how Reddit onboarded millions into Web3 through its nonfungible token (NFT) avatars, and check out McDonald’s first metaverse experience in The Sandbox. Find out why professional gamers are interested in trying out Web3 games, and why Axie Infinity creator Sky Mavis is partnering with NFT collection CyberKongz to develop a new game. And don’t forget this week’s Nifty News, featuring an NFT image of Ethereum co-founder Vitalik Buterin. Reddit engineer shares strategy behind NFT onboarding at EthCC At the recent Ethereum Community Conference (EthCC)…
Binance and Changpeng Zhao Look To File Motions Compelling the CFTC To Dismiss Lawsuit Against Crypto Exchange
Crypto exchange Binance and its CEO Changpeng Zhao are planning to submit legal motions requesting the dismissal of the Commodity Futures Trading Commission’s (CFTC) lawsuit against the company. According to a new court filing, several Binance business entities, Zhao and Binance’s former chief compliance officer Samuel Lim intend to file two separate motions by July 27th asking the judge to dismiss the lawsuit. The CFTC filed the complaint against Binance in March alleging a long list of regulatory violations, including that the exchange did not properly register with the regulator.…