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  U.S. Government Rolls Back Controversial Cryptocurrency Tax Reporting Rules

  2024-01-18 Trade News

  This article is brief: -The U.S. Treasury Department and the IRS recently revised cryptocurrency tax reporting rules. -Recent controversy has surrounded the U.S. government's approach to cryptocurrencies, which has been characterized by an enforcement regulatory strategy. -Regulators are preparing to issue detailed procedures for reporting income from digital assets, signaling…

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  Coin Launches Thai Exchange, Expands Footprint in Asia

  2024-01-18 Trade News

  One of the world's leading cryptocurrency exchanges, Coin has officially opened a cryptocurrency exchange in Thailand, according to Reuters. The exchange, called Gulf Binance, is a joint venture between Binance and IT and digital marketing services provider Gulf Innova. It aims to provide Thai users with a platform to buy…

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  Morgan Stanley Sees Potential for Bitcoin, CBDC to “De-Dollarize” the World

  2024-01-17 Trade News

  The dollar's global dominance is threatened by the rise of Bitcoin and the eventual proliferation of CBDCs, says Morgan Stanley. Wall Street giant Morgan Stanley believes the rise of central bank digital currencies (CBDC ) and digital assets such as bitcoin and stablecoins could undermine the dollar's long-term dominance in…

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  Crypto Trading Hits Record $17.5 Billion After Bitcoin ETF Debut

  2024-01-17 Trade News

  Investor enthusiasm for the new U.S. spot bitcoin ETF drove more than $1 billion in inflows into crypto products. Inflows into cryptocurrency-related investment products soared to more than $1 billion last week as investors flocked to the newly launched U.S. spot bitcoin exchange-traded fund (ETF).Bitcoin Miner In its latest weekly…

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  Bitfinex Responds to Attack Rumors, Tries to Shut Down XRP Rumors

  2024-01-16 Trade News

  This article is brief: -The crypto community speculates on XRP supply shifts, raising concerns about market impact and liquidity control. -Bitfinex CTO Paolo Ardoino dismissed rumors of an attack and assured followers of the exchange's security measures. -Investors are concerned about a single wallet holding a large portion of the…

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  Petro Era Ends: Venezuela Scraps State-Backed Cryptocurrency

  2024-01-16 Trade News

  Venezuela's ambitious cryptocurrency experiment, Petro, was launched to great fanfare in 2018, but ultimately ended in failure. After six years of trying to gain support amidst skepticism, technical hurdles, and a serious corruption scandal, the government decided to end the program. Petro coin's broken promise: Venezuela's cryptocurrency disaster President Nicolas…

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  Bitcoin ‘Failed’ 8 Years Ago, Says BTC Core Developer

  2024-01-16 Trade News

  Mike Hearn, an early adopter and developer of Bitcoin, abandoned the flagship cryptocurrency due to concerns about centralization, technical limitations, and governance issues. Eight years ago, on January 14, 2016, early Bitcoin developer Mike Hearn made the important statement that he had sold all of his Bitcoins because the flagship…

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  U.S. Lawmakers Expect Trump to Become “More” Cryptocurrency Friendly in Second Term as President

  2024-01-15 Trade News

  U.S. Rep. Tom Emmer (R-TX) expects former U.S. President Donald Trump to become "more" cryptocurrency-friendly if he returns to the White House. Since leaving office, Trump has launched three non-identical token (NFT) series. Meanwhile, some analysts are predicting that if Trump wins this year's presidential election, the price of Bitcoin…

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  Elon Musk’s Tesla Supercharger Station Will Open Soon, Which Will Accept Dogcoin Payments

  2024-01-15 Trade News

  Elon Musk, the world's richest man, is set to get another use case for Dogcoin (DOGE). This comes on the heels of news that this important meme coin will be a means of payment when one of Musk's groundbreaking projects finally launches. Tesla Project to Accept Dogcoin When It Launches…

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  Arbitrum (ARB) Dominates the Ethernet Layer 2 Network

  2024-01-15 Trade News

  -Arbitrum's Decentralized Exchange (DEX) trading volumes are surging significantly, outpacing the major blockchains. -The platform's success is attributed to its cost-effective transaction fees, making it an attractive option for cryptocurrency investors. -Arbitrum's impressive performance includes locking in an all-time high total value of $2.64 billion as well as significant price…

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