Crypto news

The Internal Revenue Service (IRS) has ruled that U.S. cryptocurrency investors must include staking rewards in their gross income since crypto assets are treated as property for federal income tax purposes. According to an official document, taxpayers must include the fair market value of their staking rewards in their gross income as soon as they gain control of the crypto assets. IRS Declares Crypto Staking Rewards Taxable In the Proof-of-Stake consensus mechanism, crypto...

A phishing scammer recently nabbed $20 million in USDT from an unsuspecting victim using a zero transfer phishing attack, reported blockchain security firm PeckShield on Tuesday. The stolen funds were frozen in short order by Tether – the issuer behind USDT – raising questions about who the victim was given the speed of their response. The Zero Transfer Phishing Attack According to PeckShield, the victim address intended to send funds to one wallet, but was fooled into...

It may not seem like it today, with crypto markets tanking, but DeFi assets have been steadily recovering over the past month, according to Glassnode. On July 31, on-chain analytics platform Glassnode published a report on the state of DeFi tokens amid this year’s regulatory issues. “Regulatory conditions in 2023 have been a tug-of-war between positive and negative news, with altcoins and DeFi tokens being the most heavily impacted,” it stated. Regulatory conditions in 2023...

Ken’s job in the Barbie movie might literally be Bitcoin. Influencers across the crypto sphere went wild for Robbie’s remarks last week. During a recent interview, the Australian actress (Wolf of Wall Street, Suicide Squad) said Bitcoin talk is “Big Ken Energy.” Ken, of course, is Barbie’s boyfriend. The Ken doll first debuted in 1961, and Ken accompanies Barbie on her adventures in this year’s high-grossing comedic fantasy movie. He’s had many jobs over the years, but some...

The cryptocurrency industry is rapidly changing. There’s no doubt about it. From a field reserved only for cypherpunks and heavily tech-oriented people to a global phenomenon that’s now ventured into the mainstream, blockchain is no longer a topic that’s raising as many eyebrows as it used to, and Web3 became mainstream in talks. Those who’ve been following the latest gaming and NFT developments have surely heard of Animoca Brands: one of the most prominent gaming studios and...

Coin Ex is a digital currency exchange based in Hong Kong. Not long ago, the company was faced with a lawsuit from New York Attorney General Leticia James, who said the firm had violated various financial laws and put traders and investors in danger. Coin Ex Settles, Set to Exit America Now, it looks like Coin Ex has agreed to settle with James for nearly $2 million to get the suit off its back. In addition, the company is also ceasing all its U.S. operations, and...

[unable to retrieve full-text content]CoinspeakerUber Shares Plummet over 5% Following Q2 2023 Operating Earnings Report Uber reported record profits and milestones in the second quarter of 2023, with significant improvements in earnings per share, operating income, and EBITDA, as well as a substantial increase in trips and food delivery orders. Uber Shares Plummet over 5% Following Q2 2023 Operating Earnings Report

Ron DeSantis – Governor of Florida and one of the Republicans’ presidential nominees – stated that the “war on Bitcoin and cryptocurrency” that Biden’s administration has supposedly waged will cease should he become the next political leader of the United States.  He also reiterated his hostile stance toward central bank digital currencies, saying such a financial product will not see the light of day if he gets elected. DeSantis’ Pro-Bitcoin Promise The US presidential...

Where will non-fungible tokens (NFTs) be in the next few years? NFTs… Where Will the Future Take Them? NFTs were, at one point, the big rage of the crypto industry. They saw a lot of action and activity, and within two or three years, the arena was worth billions of dollars and was all the rage of crypto fanatics. However, since then, NFTs have taken a serious dive, and we’re not seeing that many people engaged with them anymore. In a recent roundtable that saw...

[unable to retrieve full-text content]CoinspeakerXRP Price Can Hit $100-$500 in 4-7 months, Wells Fargo Treasury Manager Says Using Liquidity Strength as a key metric, the expert provided a detailed breakdown of her calculations before coming to her prediction.  XRP Price Can Hit $100-$500 in 4-7 months, Wells Fargo Treasury Manager Says