As the Internal Revenue Service (IRS) pushes forward with its proposal to increase cryptocurrency surveillance, a past report might offer a clue for how this information may be used in practice. In short, with the IRS set to keep tabs on Americans’ cryptocurrency usage through an expected 8 billion new returns, it seems the Department
Bitcoin (BTC) has been trading within a narrow 4.5% range over the past two weeks, indicating a level of consolidation around the $34,700 mark. Despite the stagnant prices, the 24.2% gains since Oct. 7 instill confidence, driven by the impending effects of the 2024 halving and the potential approval of a spot Bitcoin exchange-traded fund
Ether (ETH) price surged by 6.2% from Nov. 3 to Nov. 5, but the altcoin faces difficulty in breaking the $1,900 resistance. Despite the current bullish trend, Ether’s 17% return over the last 30 days falls short of Bitcoin’s (BTC) impressive 27% gain during the same period. Regulatory hurdles and ecosystem centralization critiques linger Analysts
Solana (SOL) experienced a notable 36.6% increase in value between Oct. 30 and Nov. 2. However, SOL’s failure to breach the $44.50 mark resulted in a 10% correction down to $40 on Nov. 6. This movement has left many investors pondering whether the ecosystem growth and network activity support Solana’s present $16.9 billion market capitalization.
XRP is leading the charge in a weekend rally. XRP has not only maintained its upward trajectory but also claimed the fourth position in terms of market capitalization, displacing Binance Coin (BNB). For the first time since late July, XRP reached a three-month high of $0.73, as reported by CoinGecko. Currently, XRP’s value stands at
Last week the administration of United States President Joe Biden issued a lengthy executive order intended to protect citizens, government agencies and companies through ensuring AI safety standards. The order established six new standards for AI safety and security, along with intentions for ethical AI usage within government agencies. Biden said the order aligns with the
Custodia Bank, a cryptocurrency-friendly bank founded by Bitcoin (BTC) advocate Caitlin Long, has launched its Bitcoin custody platform. The firm took to X (formerly Twitter) on Nov. 7 to announce the launch of Custodia Bank’s Bitcoin custody service targeting businesses like fiduciaries, investment advisers, fund managers and corporate treasurers. The launch comes soon after Custodia
Who is this person anyway? Irene Zhao, the Simp-Queen mastermind behind the SO-COL platform and a Crypto Twitter influencer, explains that having a celebrity in your corner can turbocharge your NFT collection. Zhao’s first Simp DAO and NFT collection, IreneDAO, started with a floor price that was basically pocket change in ETH. “I think it
A United States lawmaker wants to strip the Securities and Exchange Commission chair Gary Gensler of his salary by paying him just $1 per year. In a proposed amendment to the Financial Services and General Government (FSGG), Rep. Tim Burchett suggested that Gensler’s salary be brought down to $1, as part of wider proposal to
Ava Labs, the team behind the Avalanche Blockchain, has confirmed it laid off 12% of its employees in a recent wave of staff cuts, citing the need to reallocate its resources. The firm’s founder and CEO Emin Gün Sirer confirmed the news on Nov. 7 after several former Ava Labs employees announced on X (formerly
Cryptocurrency intelligence firm Glassnode has said it’s dropping crypto tax-related projects to focus on new solutions targeting institutional investors and decentralized finance (DeFi). Glassnode, on Nov. 6 announced the sale of its crypto-focused tax platform known as Accointing to the European crypto compliance provider Blockpit. The firms declined to disclose the size of the deal
The founder of Estonia-based LHV Bank, Rain Lõhmus, has been revealed as the owner of a massive 250,000 Ether (ETH) stash bought during the Ethereum ICO, which is now worth an eye-watering $470 million. There’s only one problem. He no longer has the keys. In February, Coinbase director Conor Grogan highlighted a Ethereum whale wallet
Lugui Tillier is the sales manager for Lumx Studios, one of the top cryptocurrency firms in Rio de Janeiro — a city with a burgeoning crypto industry. But for Tillier — who holds dual citizenship between Belgium and Brazil — cryptocurrency is more than a job. It was a passion sparked by a friend, and it
Bitcoin (BTC) begins the second week of November still holding strong near 18-month highs — where might BTC price moves head next? The largest cryptocurrency has fought off sell pressure to seal another impressive weekly close. In what analysis is increasingly describing as a change in sentiment, Bitcoin and altcoins alike are refusing to retrace
Bitcoin’s (BTC) marginal rise of about 1.5% last week suggests that traders are cautious at higher levels but they are not rushing to the exit. The bears have been in hibernation for the past few days but if the rally fails to resume, sellers may try to make a comeback. However, in an uptrend, dips
The S&P 500 Index soared 5.85% last week, its best performance since November 2022. A large part of the gains were fuelled by expectations that the Federal Reserve will not hike rates anymore. In comparison, Bitcoin (BTC) had a much muted performance with a rise of approximately 2%. However, a positive sign for cryptocurrency investors
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