Category: CryptoX News

Only 0.0028% of Americans would qualify for the unrealized capital gains tax that had Crypto Twitter up in arms this week

Recent rumors swirling on X wrongly accused presidential candidate Kamala Harris of endorsing President Biden’s 2025 proposal for a 25% tax that includes unrealized capital gains. What’s the truth behind the headlines and what caused the confusion? Earlier this week, thousands of crypto investors found themselves caught up in a whirlwind of misinformation, with many prominent accounts reporting that U.S. presidential candidate Kamala Harris had endorsed a new tax on unrealized gains, originally proposed by President Joe Biden for 2025. Social media, especially X, buzzed with outrage as people retweeted…

BTC re-staking platform SatLayer secures $8m in pre-seed funding

SaltLayer, a Bitcoin-powered restaking platform built on the Babylon staking protocol, has completed an $8 million pre-seed funding round. According to an announcement posted on X on Aug. 22, the Bitcoin (BTC) restaking platform received backing from several crypto-focused venture capital firms. Castle Island Ventures and web3 venture capital firm Hack VC co-led the pre-seed round. The protocol will use the financing to bring its restaking product to the growing Bitcoin market. What is SaltLayer? SatLayer allows users to earn rewards on their BTC by staking and liquid restaking. Babylon,…

Franklin Templeton Expands Tokenized Money Market Fund to Avalanche Network

Franklin Templeton has extended its blockchain initiatives by launching its tokenized U.S. Government Money Fund on the Avalanche network. This move marks another expansion of the firm’s onchain financial products. Avalanche Adds Franklin Templeton’s Tokenized Money Fund to Its Blockchain Ecosystem Franklin Templeton, an investment firm with $1.6 trillion in assets under management, has integrated […] Source CryptoX Portal

US Payrolls Revised Down by 818,000, Largest in 15 Years: QCP Capital Analyzes Impact on Markets

QCP Capital reports that the largest downward revision to U.S. payrolls in 15 years has raised concerns over the strength of the labor market. The report suggests that these revisions could influence the Federal Reserve’s decisions on interest rates. QCP Capital: U.S. Payroll Revision and Fed Policy Shift Market Dynamics QCP Capital‘s latest insights highlight […] Source CryptoX Portal

Bitfarms stock earns analyst praise after ‘transformational’ deal

H.C. Wainwright analyst Mike Colonesse described Bitfarms’ agreement to acquire Stronghold Digital Mining as “a transformational acquisition.” The analyst commented on the Bitcoin (BTC) miner’s potential to benefit from the Stronghold acquisition in a note shared with crypto.news on Aug. 22. It comes a day after Bitfarms’ announcement on Aug. 21. Colonesse views the $125 million all-stock deal for Stronghold as a significant opportunity for Bitfarms to expand its operations substantially over the next 16 months. When finalized in the first quarter of 2025, Stronghold’s power capacity will enable Bitfarms to…

Here’s why Trumpcoin, MAGA, and Trump tokens are rising

Donald Trump-themed cryptocurrencies surged on Aug. 21 as his odds of winning the election increased and as Bitcoin held steady above $60,000. MAGA (TRUMP) token rose by 46% to $3.88 while MAGA Hat (MAGA) rose by over 13.2%. Trumpcoin (DJT) jumped by 10% to $0.000154.  This rally coincided with rising odds that Donald Trump might win the general election. According to Polymarket, the likelihood of a return to the White House now stands at 54%. Meanwhile, rival Kamala Harris’s odds dropped to 46%. This marks a significant reversal, as she…

US Bitcoin ETFs Thrive With $39M Boost, Ethereum ETFs Experience $17M Decline

On Wednesday, U.S. spot bitcoin exchange-traded funds (ETFs) marked their fifth straight day of inflows, adding $39.42 million to their gains. Meanwhile, the spot ether ETFs experienced a dip, losing $17.97 million during the day’s trading. Spot Bitcoin ETFs See Fifth Day of Inflows, Ether ETFs Hit by $17M Outflows Collectively, the 12 spot bitcoin […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Hackers Exploit McDonald’s Instagram to Promote Fake Grimace Coin, Netting $700,000 in Solana

Hackers recently took control of McDonald’s official Instagram account to promote a fraudulent Grimace meme coin, successfully scamming users out of $700,000 in Solana. The attackers also compromised the personal X account of McDonald’s Senior Marketing Director to further spread the scam. Grimace Coin, originally created as a meme token inspired by a social media […] Source CryptoX Portal

Evaluating the performance of UEEx in the crypto trading market

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. UEEx, a fast-growing crypto trading platform, boasts over 1 million users across 110 countries, offering 230+ trading pairs and aiming to be the world’s top digital asset platform. UEEx is an up-and-coming trading platform that has gained considerable traction in recent years. Founded in 2021, UEEx has over 1 million registered users, presence in over 110 countries and features more than 230 trading pairs. With its commitment to becoming…