Day: November 24, 2023

‘Strap yourselves in’ — Bull market coming early 2024, say crypto exchange heads

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The market has already entered the first phase of a major rally, with the number of people buying crypto trickling upward which is expected to accelerate early next year, say the heads of Australia’s largest crypto exchanges. Independent Reserve CEO Adrian Przelozny told Cointelegraph he expects market activity to see an uptick in early 2024 and is hiring to build infrastructure before that happens. “We’re just doing everything we can to get ready for a bull market because we know that when the bull market comes, it happens very fast,”…

Goldfinch (GFI) token surges 50% in the last 24 hours

Goldfinch, a global credit protocol, has seen a 50.26% surge in the last 24 hours, currently trading at $1.10. In the last seven days, Goldfinch (GFI) grew to 68.46%. Goldfinch price chat in 24 hours | Source: CoinMarketCap According to a Sept. 20 post from a tokenomics researcher, the project generated over $700,000 in fees monthly and had over $100 million worth of active loans. Goldfinch is one of the most discussed projects in the RWA narrative. They’re generating over $700,000 in fees every month, and there are currently over $100M…

Australia’s tax agency won’t clarify its confusing, ‘aggressive’ crypto rules

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Australia’s tax regulator has been unable to clarify confusing aspects of its new guidance that suggests capital gains tax (CGT) is payable on a slate of everyday decentralized finance transactions. The ATO failed to answer direct questions from Cointelegraph on whether staking Ether on Lido or transferring funds via bridges to layer 2 networks are CGT events, leaving DeFi users in the dark about how to comply. The Nov. 9 guidance from the Australian Taxation Office (ATO) says CGT is payable when transferring tokens to another address or smart contract…

Bankrupt Crypto Exchange FTX Transfers $36,000,000 Worth of Altcoins to Exchanges: On-Chain Data

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On-chain data indicates that bankrupt crypto exchange FTX suddenly moved $36 million worth of altcoins to leading exchanges. According to on-chain analytics firm Lookonchain, FTX transferred massive amounts of Polygon (MATIC) and Avalanche (AVAX) to top crypto exchanges Coinbase and Binance. “In the past 24 hours, FTX transferred a total of ~$36 million in assets to exchanges. Deposited 12.6 million MATIC ($9.4 million) to Coinbase. Deposited 10 million MATIC ($7.45 million) to Binance via FalconX. Deposited 975,859 AVAX ($19.25 million) to Binance via FalconX.” Polygon is trading for $0.78 at…

It sounds fishy, but SBF really IS trading mackerel in prison: Report

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The crypto trading days of former FTX CEO Sam Bankman-Fried are over, and the recently convicted founder has found a new thing to trade while in jail — fish.  The Wall Street Journal reported on Nov. 23 that Bankman-Fried recently traded four packets of Mackerel — known in prison as “macks” — for a haircut before his criminal trial last month. Mackerel packets have risen to be the hottest trading commodity in United States prisons since tobacco products were banned. Postage stamps and soup packets — “soups” — respectively come…