The U.S. Internal Revenue Service (IRS) has released an updated draft version of the tax form crypto brokers and investors will use to report proceeds from certain transactions, the 1099-DA. Source
In a recent interview with Kitco News, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, warned that the current economic situation might surpass the 2008 financial crisis in severity. Drawing comparisons to pre-2008 indicators, McGlone highlighted significant risks of increased stock market volatility and global recession, particularly emphasizing economic challenges in China. He suggested that […] Source CryptoX Portal
There is a better way to manage token launches — one that prioritizes long-term utility and organic growth over speculative gains. Protocols are beginning to experiment with alternative models. FRIEND, a blockchain-based social platform, for example, launched with 100% float, distributing all tokens to the community from day one. After taking a radically different approach at Lava Network, I am convinced the industry must adopt a new standard for how blockchain projects should handle token distribution and valuation. Source
Eleven Israeli tourists were robbed during a violent attack on Santa Teresa de Cóbano beach in Puntarenas, Costa Rica. The robbery occurred while the group was attending a social event, where at least eight men approached them. The attackers arrived in two high-value vehicles and overpowered the group’s security guard. The robbers, suspected of having police training, forced the tourists to hand over their belongings, including a substantial amount of Bitcoin (BTC). Surveillance footage shows the attackers, some wearing what appeared to be police uniforms, moving the victims from one…
First, and most critically, only a small fraction of crypto is used for illicit activity, far less than we see in traditional finance, which according to the United Nations could be up to 5% of global GDP. Per analytics firm Chainalysis, money laundering accounts for less than 0.5% of all crypto transaction flows. This is also decreasing steadily over time. Even as crypto usage rose in 2023, the amount of money laundering in crypto fell from $31.5 billion in 2022 to $22.2 billion in 2023. No significant amount of illicit…
The community for Chainlink (LINK) has hope thanks to Alan Santana, a famous cryptocurrency expert, who says that the token may soar in the next few months. Even though there are some negative signs as we speak, Santana believes that LINK’s price will go up a lot during the next bull market, possibly hitting an all-time high. Related Reading Santana’s prognosis is hinged on LINK’s key acquisition period, which preceded the 2021 bull market. He calls 2023 a “recovery year,” with numerous cryptocurrencies tallying decent price gains but not a…
PRESS RELEASE. New York, August 9th, 2024 – Nexio, a pioneering Bitcoin scaling solution leveraging parallelized rollup technology, today announced that it has raised $2.2 million in pre-seed funding from a diverse roster of prominent industry investors. This funding will enable Nexio to accelerate the development and adoption of its parallelized Bitcoin rollup technology, aiming […] Original
“Ripple USD is currently in its beta phase and is being rigorously tested by our enterprise partners,” the company said in a blog post. “This phase is crucial for ensuring that the stablecoin meets the highest standards of security, efficiency, and reliability before it becomes widely available, and after receipt of regulatory approval.” Source
The price of bitcoin (BTC) recently fell sharply due to unfavorable macroeconomic factors, with key support levels being tested once again. Analytics provided by Cryptoquant’s Institutional Insights report reveal that the market sentiment has turned bearish, with increased selling pressure and critical valuation metrics suggesting potential for further decline. Cryptoquant Analysis: Bitcoin Plummets Amid Bearish […] Original
The pseudonymous bitcoin analyst known as Plan B, known for his work on the “stock-to-flow” (S2F) bitcoin price model, believes bitcoin’s market may have entered a bullish phase prematurely. While he suggests that the market has been “front-running,” Plan B remains confident that the top cryptocurrency will still hit $100,000 in 2024. Bitcoin’s Early Bull […] Original