Crypto investors and their brokerages are waiting for a U.S. tax rule that will completely overhaul how they report their cryptocurrency taxes, but the government isn’t offering any straight answers about its holdup even as prominent lawmakers clamor for the Treasury Department to finish the job. Source
Telegram bots have been increasingly emerging as a new tool to get exposure to cryptocurrency markets and a number of related services. The cumulative crypto trading volume associated with Telegram bots exceeded $190 million as of early August 2023, according to a new report by Binance’s research arm Binance Research. Crypto activity facilitated through Telegram bots has been specifically on the rise in recent months. On July 23, daily volumes of chatbots-enabled crypto trades hit a record high of $10 million, Binance Research’s chief financial officer Jie Xuan Chua wrote…
At a time when our lives are only becoming increasingly digital, why should we hand all of our information to centralized, opaque organizations that have a track record of using it unethically? Sure, these services can be profoundly convenient, and many people undoubtedly enjoy having one user-friendly application that can manage so much of their digital and real lives, but what’s the price? Source AppDigitalSovereigntyUsers CryptoX Portal
In a significant development, Ripple joined the International Swaps and Derivatives Association (ISDA), placing itself at the forefront of the derivatives market valued at a staggering $1.2 quadrillion. This move aligns Ripple with prominent industry leaders such as J.P. Morgan, Goldman Sachs, and BNY Mellon, solidifying its position within traditional financial systems. This particular membership category caters to technological solution providers and exchanges integral to the derivatives ecosystem and Ripple now stands equal with big players and elite groups in the high cadre of the crypto community. This move is…
Estonia-based cryptocurrency payments firm CoinsPaid suspects North Korean hackers with the Lazarus Group gained access to its systems through fake recruiters targeting employees. In an Aug. 7 blog post, CoinsPaid said an exploit that allowed hackers to steal more than $37 million on July 22 was the result of tricking one employee into downloading software during a fake job interview, having them believe they were completing a technical task. The firm reported that the worker responded to a job offer put out by hackers and downloaded the malicious code, allowing…
Congress, Not the SEC, Should Set U.S. Digital Asset Policy Source
Shiba Inu has gone down 10% since hitting a local top two days ago. But here are some metrics that suggest the rally could still continue. Shiba Inu On-Chain Metrics Have Seen Positive Developments Recently Shiba Inu had been stuck in a perpetual sideways trend during most of July, but the meme coin’s fate switched in the first few days of this month as its price showed some strong upwards momentum. In this rally, the asset had managed to breach the $0.00001000 level, meaning that it had risen almost 30%…
Binance Labs announced investments in four incubator projects and participated in a round for privacy infrastructure startup zkPass. Source
Sino Global invested in tokens heavily affected by the decline of Sam Bankman-Fried’s FTX crypto empire and partnered with FTX on a fund raised with outside investors’ capital. Source
The largest staking service provider also crossed $15 billion in total value locked, a level not seen since May 2022. Source