Tag Archives: AA News

U.S. President Joe Biden is advocating for an end to tax loopholes that benefit what he described as “wealthy crypto investors.” In a Twitter post late Tuesday, Biden shared an infographic that read: “We think Congress should cut tax loopholes that help wealthy crypto investors.” According to the post, these loopholes have cost the government around $18 billion in revenue. In his tweet, the president mentioned “MAGA House Republicans” as opposers of his tax plans. Biden...

For some, the Ordinals craze has wreaked havoc in the Bitcoin ecosystem. BTC’s price may have, so far, failed to capitalize on it, but that was not the case for the network miners. In fact, the development has been a blessing in disguise for them. Bitcoin Miner Revenue Shoots Up This month was marked by skyrocketing transaction fees and network congestion as Bitcoin Ordinals reached unprecedented heights. While Bitcoin’s price is cautiously recovering with modest gains, the...

Memecoins are hardwired into Internet culture, and crypto was not spared. From Dogecoin and Shiba Inu (SHIB) to the latest craze surrounding the popular PEPE coin, the industry has long been involved with them. Now, the PEPE coin mania is also spreading across other protocols, and Bitcoin seems to be well under the radar. But it’s not exactly what you may think. Ordinals Wallet is a veteran wallet that supports the so-called NFTs on Bitcoin – Ordinals. While called NFTs, they...

After pleading guilty earlier this year, former Coinbase Product Manager Ishan Wahi has been sentenced to 2 years in prison in a landmark case for insider trading with cryptocurrencies.  The sentence exceeds the 10-month prison sentence of Ishan’s brother – Nikhil Wahi – with whom he conspired for the crime.  Two Years for Crypto Insider Trading According to a report from Reuters, Ishan Wahi was sentenced by U.S. District Judge Loretta Preska in a Manhattan Federal court on...

Coinbase has called for certain modifications to the proposed rule regarding registered investment advisers’ (RIA) obligations to hold client assets at qualified custodians. Even as the United States Securities and Exchange Commission (SEC) deemed Coinbase Custody as a “qualified custodian,” the crypto exchange believes the revised RIA rule makes “unwarranted assumptions about custodial practice.” Revisions Needed The chief legal officer of the San Francisco-based company,...

The lawyers of the American basketball legend – Shaquille O’Neal – reportedly asked a federal court to block a recent summons served regarding his interaction with FTX. They claimed the documents were “tossed” at the front of his moving car: an entirely different version than the one presented by attorney Adam M. Moskowitz who supposedly served the sportsman in his home. Failed investors have claimed that O’Neal and many other celebrities used their popularity to promote the...

Popular peer-to-peer (P2P) marketplace Paxful is back online after shutting down services in April 2023. While the platform was suspended, the Paxful Wallet remained active. Paxful, in a blog post on May 8, announced the resumption of the marketplace a month after the platform closed down. An excerpt from the announcement reads: “We know it has been a difficult time for many of our users, who were understandably surprised by the sudden suspension, however, we are delighted...

Galaxy Digital turned profitable in the first quarter of the year as the markets improved. Its founder and CEO, Michael Novogratz, revealed that the crypto financial services firm ended Q1 2023 with a liquidity position of $814 million. According to an official press release, Galaxy Digital reported $134 million in net income for the same period as compared to a net loss of $288 million in the fourth quarter of 2022. The income was attributed to the gains on digital assets as...

Ordinal inscriptions are on fire. Users are continuously flooding the Bitcoin network with images, video games, and other content. There are now more than 5 million inscriptions. Over the past seven days, the total inscription count has more than doubled from 2.5 million. Ordinals Skyrocket According to data from Dune Analytics, text-based inscriptions, also known as the BRC-20 token standard, accounted for a vast majority of the Bitcoin ordinal inscription. At the time of...

Trending memecoin Pepecoin (PEPE) has plummeted by more than 55% in the last four days after a remarkable performance turned several investors into overnight millionaires.  The memecoin, which jumped to the 45th largest cryptocurrency by market capitalization within three weeks after its launch, began a downward spiral on Friday, May 5, after it was listed for trading on Binance, the world’s largest crypto exchange.  PEPE Drops 55% From ATH At the time of the Binance listing...