Tag Archives: AA News

Jack Dorsey was not pleased with FTX CEO Sam Bankman Fried (SBF)’s recent criticisms of Bitcoin’s viability as a payments system. The Block Head confronted him yesterday over his failure to acknowledge the lightning network and provided defense for the necessity of mining. SBF’s Interview The conflict began when SBF responded to some backlash over his comments about Bitcoin in an interview with the Financial Times. While he stood by his claim that Bitcoin cannot sustain high...

With the crash of TerraUSD —the largest algorithmic stablecoin in the ecosystem— and the de-pegging of other stablecoins like Stasis, DEI (not to be confused with DAI and even Tether), financial institutions like the European Central Bank, used this weakness in their favor and started promoting their new CBDCs. On May 16, Italian economist and Executive Board member of the European Central Bank (ECB), Fabio Panetta, said in a lecture at the National College of Ireland (NCI)...

Amidst growing uncertainty caused by the bearish run across most cryptocurrencies over the past few weeks, Binance – the leading exchange in terms of volume – is looking to heavily shore up its defenses in case of any possible inquiries from regulatory bodies. However, this could also be an indicator of the company planning to enhance efforts at securing an even bigger market share across EMEA and APJ markets. Binance is currently not facing any lawsuits and has recently been...

Two of the world’s major investment banks, Goldman Sachs and Barclays, recently participated in a $70 million Series A funding round for Elwood Technologies, the crypto trading platform founded by British hedge fund billionaire Alan Howard. Goldman Sachs and Barclays Invest in Elwood According to a Sunday report by the Financial Times, this funding round marked the first time that Elwood Technologies has sourced outside financing and brought the company’s valuation to $500...

Ben Bernanke – former chairman of the U.S. Federal Reserve – does not believe Bitcoin or other cryptocurrencies can succeed as an alternative money. He claims their prices are too volatile to serve as a practical means of exchange and lack the underlying use cases to serve as stores of value. Bitcoin is for Criminals, Says Bernanke In a recent interview with CNBC’s Andrew Sorkin, Bernanke claimed that cryptocurrencies have been successful as a “speculative asset”. However, as...

Terra co-founder Do Kwon has unveiled a detailed plan to hard fork Terra and revive the network’s ecosystem. It will involve abandoning its algorithmic stablecoin, and launching a new cryptocurrency to replace its old governance token, LUNA. The proposal is a follow-up to Kwon’s informal plan he posted last week, in which he admitted that UST was a failed stablecoin, and that the blockchain needed a fresh restart. It roughly reflects his original plan to distribute...

The Australian Taxation Office (ATO) announced Monday that it will focus on digital assets this year as it expects to see more Aussies report capital gains or losses in their tax returns. Aussies Are Engaging With Crypto The tax regulator treats crypto assets as digital property, hence Aussies who sell their digital assets, including non-fungible tokens (NFTs), are expected to calculate and record their capital gains or losses in their tax returns. For clarity, capital gain...

Portugal’s Finance Minister Fernando Medina has confirmed plans to apply capital gains taxes on cryptocurrency profits. Though he has not committed to a specific date, he stressed that there can no longer be gaps within the tax system around transactions involving digital assets. Ending the Tax Haven? Cryptocurrencies are currently subject to very few tax rules in Portugal, making the country something of a crypto hub. However, the government finally committed to creating a...

After buying the dip and adding 500 BTCs to the state coffer, El Salvador President Nayib Bukele has another surprise up his sleeves. The country is organizing an international conference of central bank representatives today, Bukele announced less than 24 hours before the event.  El Salvador’s Conference of Central Banks El Salvador will host an international bitcoin event on Monday where 44 central banks and key financial institutions have been invited, El Salvador...

Though Bitcoin touched the 30,000 level after days of violent dumps befalling the crypto market, a large portion of investors have since then remained underwater. The recent market selloff led by Terra and its two native cryptocurrencies plummeting in value has at one point wiped out the crypto market’s total gains attained from 2021. But for spooked investors in Britain experiencing losses, they can now offset them against future gains in tax filings, according to HM Revenue...