Day: December 15, 2023

Brazil Enforces 15% Taxation on Overseas Crypto Holdings, President Approves

Strating January 1, 2024, Brazil will introduce a flat 15% tax on crypto profits and up to 6,000 Brazilian reais ($1,200), will be exempt from taxation.  In a significant move, President Luis Inácio Lula da Silva of Brazil has signed into law a measure that imposes taxes on crypto assets held abroad by Brazilian citizens. The law, signed on December 12, was officially published in the Diário Oficial da União (Official Diary of the Union) on the following day. The taxation law shall come into enforcement starting January 1, 2024.…

SafeMoon Files for Liquidation Bankruptcy as Execs Face DoJ Charges

The filing comes just weeks after it was reported that Moonpay executives were at the centre of a Department of Justice (DoJ) securities fraud investigation. Crypto firm SafeMoon on Thursday, December 14,  filed for Chapter 7 bankruptcy, also known as liquidation bankruptcy. The filing was done by attorney Mark Rose in the United States Bankruptcy Court for the District of Utah. This comes as the company’s executives face criminal charges in the United States for allegedly defrauding customers of millions of dollars. The court filing shows that MoonPay has between…

$100,000 BTC? Don’t undervalue Bitcoin ETF influence, says Adam Back

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The COVID-19 pandemic, rampant inflation and regional conflicts directly influenced Bitcoin’s (BTC) drop in value over the past two years. However, 2024 promises to be a resurgent period, according to Blockstream CEO Adam Back. The cryptographer, who pioneered the proof-of-work algorithm applied in Bitcoin’s protocol, tells Cointelegraph that the preeminent cryptocurrency is trailing below the historical price trend line of previous mining reward-halving events. “Biblical” events hurt Bitcoin Back weighed in on the potential price action of Bitcoin as the next halving, which will see Bitcoin miners’ block reward reduced…

Bitcoin ecosystem reinvigorated by memecoins, new protocols

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The Bitcoin ecosystem has witnessed a dramatic recovery as the market cap of BRC-20 tokens surpassed $4 billion shortly after their invention in January. According to a Dec. 15 research report by cryptocurrency exchange Bitget seen by Cointelegraph, Bitcoin (BTC) miners’ earnings from on-chain fees have surged from 1.7% in August to 19.57% by November. Meanwhile, daily mining revenue from block rewards surged past $40 million in November. The namesake digital asset has gained 161% year-to-date. Invented by Bitcoin developer Casey Rodarmor in January, BRC-20 tokens have surged in popularity…

Analyst gives optimistic outlook on Dogecoin

The X analyst Myles G believes Dogecoin remains in an uptrend and is breaking out to higher levels. In a video posted on Dec. 15, crypto analyst and YouTube personality Myles G shared his latest thoughts on the cryptocurrency Dogecoin (DOGE). While expressing some caution around recent volatility, overall Myles struck an optimistic tone, saying he believes the altcoin is positioned for more gains in the near future. Dogecoin is still bullish. Dogecoin is breaking out. Dogecoin is still trending upwards, and the crypto market has seen a little bit…

Solana Developers Get More than $600K as BONK Soars in Price

The 25 billion BONK tokens airdropped to Solana developers last year are now worth over $600,000 after the meme token has rallied in the last few months. During the holidays, it is common for companies to give their employees bonuses, usually in cash or kind. But last year, Solana developers got a potentially life-changing bonus when they were airdropped 25 billion BONK tokens each. Now, a year later, these developers could find themselves making quite a profit after the value of BONK has skyrocketed. BONK to the Moon BONK is…

First Trust files for Bitcoin ‘Buffer ETF’ with SEC

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The financial services firm First Trust is the latest company to file for a Bitcoin (BTC) exchange-traded fund (ETF), and not for a spot one. First Trust on Dec. 14 submitted a Form N1-A filing with the United States Securities and Exchange Commission (SEC) to launch a new Bitcoin-linked product called the First Trust Bitcoin Buffer ETF. According to the prospectus, the fund is designed to participate in the positive price returns — before fees and expenses — of the Grayscale Bitcoin Trust or another exchange-traded product (ETP) that seeks…

Cyber.Fund Commits $100M to Blockchain Projects Merging AI and IoT

With a history of backing successful ventures like Cosmos, Solana, and Polkadot, Cyber.Fund aims to foster the development of what it terms the “cybernetic economy”, where blockchain forms the foundation. Cyber.Fund, an investment firm renowned for its early support of Ethereum, has recently unveiled an impressive commitment of $100 million towards blockchain projects that merge artificial intelligence (AI) and the Internet of Things (IoT). With a history of backing successful ventures like Cosmos, Solana, and Polkadot, Cyber.Fund aims to foster the development of what it terms the “cybernetic economy”, where…

LayerZero Launches V2 Upgrade Across More than 40 Testnets to Streamline Cross-Chain Interoperability

LayerZero’s V2 introduces an omnichain network of blockchains to enable web3 developers to build universal decentralized applications. Amid the mass adoption of web3 applications, LayerZero (ZRO), a fast-growing omnichain interoperability protocol, has emerged as a crucial component. Backed by a strong community and group of software engineers, LayerZero has been making waves as a top interoperability network. Moreover, LayerZero supports more than 50 blockchains and has so far facilitated over $50 billion in value transfer across different web3 protocols. The LayerZero protocol is currently valued at over $3 billion following…

Bitcoin (BTC) price prediction (2024)

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How far Bitcoin might go and what triggers might bring the largest crypto to new heights — read about it in our special report. Bitcoin (BTC), the world’s leading cryptocurrency by market capitalization, has fascinated the financial world with its volatile yet promising trajectory. While its price has always been a subject to fluctuations throughout its history, the crypto community remains optimistic about Bitcoin price outlook in long-term potential. As we approach 2024, the year of the next Bitcoin halving event, there is renewed interest in predicting the cryptocurrency’s future…