U.S. Senator Todd Young of Indiana is calling on the Internal Revenue Service (IRS) to review Biden-era tax guidelines for cryptocurrency rewards. Summary Sen. Todd Young urged Treasury Secretary Scott Bessent to reconsider the IRS’s 2023 tax treatment of staking rewards. The IRS recently proposed implementing the global CARF tax standard, aligning the U.S. with…
Key Takeaways Dave Portnoy stacked XRP, Bitcoin, and Ethereum during Monday’s market dip. In July, Portnoy sold his XRP at $2.4 just before a 50% increase in its value, prompted by advice regarding competition from Circle. Share this article Barstool Sports founder Dave Portnoy purchased $1 million worth of XRP on Monday, along with $750,000…
The cryptocurrency market has been in a freefall all November, erasing nearly all of the gains from earlier in the season. As of today, the total market cap has come down from $4Tn in October to around $3.09Tn, a loss of almost $1Tn in just one month. But why did crypto crash? Lets find out….
SUI drops 70% to $1.66 amid forced selling. Analysts eye $1–$1.70 zone as potential accumulation area while network activity stays strong. Sui (SUI) has dropped to $1.66 following a 70% decline from its all-time high of $5.35. The recent move has drawn attention from analysts, who point to signs of forced selling and potential…
Amplify has launched the XRP 3% Monthly Premium Income ETF, the first of its kind to track XRP exposure through options strategy. Summary Amplify has launched the XRP 3% Monthly Premium Income ETF The ETF will use an options strategy to give investors XRP exposure and yield The fund will target a 3% monthly return,…
Key Takeaways Binance is experiencing a notable increase in short-term Bitcoin trading activity. Short-term Bitcoin holders are selling during price corrections, resulting in higher trading volumes on exchanges like Binance. Share this article Binance, the world’s largest crypto exchange by trading volume, is experiencing increased short-term Bitcoin trading activity as market dynamics shift toward more…
Bitcoin Price has come down nearly -29% from its ATH in October. Compared to the S&P’s just over -4% and Nasdaq’s -7% drops, we can easily say that the BTC volatility is still a lot to take for traditional investors. Such a drop for the indexes can be observed at the COVID crash in 2020…
ZEC is the worst-performing top 100 crypto today (November 18). The popular privacy token Zcash (ZEC), which has been riding high over the past several months, experienced a substantial correction of more than 14% in the last 24 hours. The question now is whether this is a good zone to jump on the bandwagon…
A growing political storm is brewing around World Liberty Financial, as Senators Elizabeth Warren and Jack Reed call for an investigation into the Trump family’s crypto company over alleged ties to high-risk foreign actors. Summary Watchdog report claims WLFI tokens reached wallets tied to North Korea, Russia, Iran, and Tornado Cash. Trump-affiliated entity holds 22.5B…
Key Takeaways Bitfury is launching a $1 billion investment initiative focused on ethical technology and AI. The initiative will prioritize investments in AI, quantum computing, decentralized systems, and self-sovereign identity solutions. Share this article Bitfury, a blockchain infrastructure company, today announced a $1 billion investment initiative targeting ethical technology and AI development. The company is…
