The aim of Binance Tax is to simplify the calculation of gains and losses throughout the year. For frequent traders, this could amount to thousands of transactions, meaning many hours of work to ensure correct calculation. Still, the product is in an early phase and does not support all types of transactions. Users will need to make adjustments. Source
The launch of the Binance Tax product in France has tagged a stepping stone for the service that will soon be made available in other countries around the world. The Binance exchange, the world’s largest crypto brokerage firm by trading volume, has announced the launch of its Binance Tax product to help simplify the process of filing tax returns for its customers. Per a Press Release shared with Coinspeaker, the Binance Tax tool will first be available to customers in France before it is eventually rolled out to other customers…
Billionaire Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, says it’s “amazing” what bitcoin has accomplished but believes the cryptocurrency is not going to be an effective money, a store of value, or a medium of exchange. Nonetheless, he stressed that “we are in a world in which money as we know it is in jeopardy.” Billionaire Ray Dalio on Bitcoin Billionaire investor and hedge fund manager Ray Dalio, who founded the world’s largest hedge fund, Bridgewater Associates, and previously served as its co-chief investment officer,…
Binance has announced that Indian crypto exchange Wazirx can no longer use Binance wallet services. Zanmai, the operator of Wazirx, has until Feb. 3 “to remove the funds from the accounts that they used for Wazirx’s operations.” The move followed a public dispute regarding the relationship between Binance and Wazirx. Binance Ends Wallet Services to Wazirx Cryptocurrency exchange Binance said Friday that Indian crypto exchange Wazirx “can no longer use Binance wallet services.” Noting that it “has no control over Wazirx user funds or any aspect of the Wazirx exchange’s…
Binance has returned to the South Korean cryptocurrency market after two years with a “meaningful” investment in a local, licensed crypto exchange. Gopax fell into trouble following the collapse of crypto exchange FTX and the bankruptcy filing of crypto lender Genesis Global. Binance Invests in Troubled Korean Crypto Exchange Cryptocurrency exchange Binance announced Friday that it has invested in Gopax, a licensed crypto exchange in South Korea. The investment marks Binance’s return to the Korean crypto market, which the company exited two years ago, citing low usage and trading volume.…
Top US crypto exchange Coinbase has added the altcoin Liquid Staked Ethereum (LSETH) to its listing roadmap. Liquid Staked ETH is a new “receipt token” investors receive when they stake their Ethereum (ETH) with the Liquid Collective, a liquid staking protocol. The Liquid Collective notes its staking method differs from traditional staking, where users lock up their tokens. “Whereas traditional methods of staking are subject to bonding and unbonding periods (ranging from days to weeks), liquid staking provides stakers with increased liquidity and capital efficiency. Token holders stake their token…
A new report finds that crypto exchanges Kraken and Bittrex are downsizing amid the continued turmoil in the digital asset space. Bloomberg reports that San Francisco-based Kraken shuts down its Abu Dhabi office less than a year after receiving a license to operate a regulated exchange platform in the United Arab Emirates (UAE). The third-largest crypto exchange is laying off 30% of its global workforce as a result of the crypto winter. A spokesman says Kraken already dismissed the majority of its team focused on the Middle East and North…
The tZERO Crypto exchange, whose majority owner is Overstock, will shut down on March 6, the company announced via Twitter on Feb. 3. The company says that it will continue to focus on its regulated securities products after the shutdown, as the United States Securities and Exchange Commission (SEC) and other regulators clarify the legal status of crypto assets. Today, tZERO Crypto informed its customers that it will be ceasing operations on March 6, following an orderly withdrawal of assets by the customers, which continue to be held by the…
In a new interview on CNBC’s Squawk Box, hedge fund veteran Ray Dalio says Bitcoin (BTC) is getting more attention than it deserves. The founder of asset management firm Bridgewater Associates says that what Bitcoin accomplished in the last 12 years is amazing, but investors still have better choices than putting their money on the benchmark cryptocurrency. “It’s a tiny thing that gets disproportionate attention. You know the value of Bitcoin is less than a third of the value of Microsoft stock. You can go into industries. Biotech and many…
The community of Dogecoin (DOGE) competitor Shiba Inu (SHIB) is petitioning Binance to list a crypto asset that was recently designated as the governance token of its upcoming decentralized finance (DeFi) platform. In a new petition on Change.org, the SHIB army is asking the world’s largest crypto exchange platform by volume to list Bone ShibaSwap (BONE), the network’s utility token. “This petition is designed to kindly request of Binance to please list Bone Token to trade… BONE is a governance token of Shibaswap ecosystem which will allow the Shib Army…