A new proposal published by the U.S. Treasury suggests that cryptocurrencies such as Bitcoin and Ethereum should be added to the Internal Revenue Service’s (IRS) rules for reporting taxpayers’ offshore accounts. A recently published document, titled “General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals,” explains that Section 6038D of the Internal Revenue Code…
Long-term hodler have kept accumulating Bitcoin during the whole of the first quarter of 2022, and they are a big reason behind the bull run of the past week. According to data from IntoTheBlock, as bitcoin surpasses $48,000 again, the balance held by hodlers, addresses holding bitcoin for more than a year, is currently at an…
Bitcoin has just pumped to its highest level since January 4 to create a weekly close above $45,500 for the first time in 2022. The move is a bullish sign as BTC breaks the $44,500 resistance that has seen a rejection three times already this year. Source: BTCUSD on TradingView The breakout potentially validates the…
As bitcoin (BTC) soars to $42,000 and beyond, trading above $43,000 at press time, the premier cryptocurrency by market cap saw more than 15,000 BTC in outflows from exchanges earlier this week. It’s the largest outflow from exchanges since the 29th of January, according to data from crypto analysts IntoTheBlock. This constitutes a positive sign…
Coinbase One, the new subscription service from the US-based exchange, offers users $0 transaction fees, $1 million in account protection, and 24/7 customer support. Currently, the service users are reporting will cost $30/month is being rolled out to customers across the United States Information on how to sign up for a free trial is explained…
The macroeconomic and geopolitical environment surrounding crypto and the whole global economy has had its impact on the price action of cryptocurrencies in general, with the war in Ukraine as the overarching geopolitical disaster moving energy and commodities prices to dangerously high levels. However, In the United States, the Federal Reserve’s FOMC (Federal Open Market…
As Bitcoin (BTC) wavers around $41,000, Tether is indicating big moves may be coming for crypto in general. According to data from analysts Santiment, Thursday and Saturday had the two largest days of 2022, in terms of addresses interacting on the network, with 83,000 and 74,000 addresses interacting with the network respectively. Keep an eye…
Recent years have widened the conversation around cryptocurrencies and NFTs and the awareness surrounding digital assets is growing in line with widespread adoption. At the same time, retail investors have flooded the many online trading platforms that are now available, wishing to participate in financial markets which had traditionally only allowed access to a limited…
Binance, the world’s largest centralized crypto exchange by trading volume, is announcing the integration of the popular PancakeSwap into Binance’s app. PancakeSwap is currently the most popular decentralized platform by users and trading volume running on the BNB Chain, formerly Binance Smart Chain. According to a corporate blog post, Binance’s integration of PancakeSwap will allow…
Synthetix is a financial primitive enabling the creation of synthetic assets, offering derivatives and exposure to real-world assets on the blockchain. A synthetic asset, in turn, is simply a tokenized derivative that mimics the value of another asset. A spot exchange-traded fund, or ETF, is a typical example of a synthetic asset that could represent…