Tag Archives: crypto

There is good news and there is even better news. The good news is that bitcoin has been doing relatively well as of late. The currency recently hit a six-month high and many investors are becoming more hopeful that the horrors of 2022 are finally being left behind for good. The even better news is that bitcoin adoption appears to be growing, as use of the Lightning Network has hit a new high. Use of the Lightning Network Is More Common Than Ever The heavy use of the...

Canada is cracking down on crypto trading and tightening its rules due to the FTX financial collapse. The country is allegedly trying to do all it can to protect investors and ensure nothing like the exchange’s debacle can affect people within its borders. Canada Is Fighting Potential Crypto Loopholes The Ontario Securities Commission and securities regulators in Canada are keeping their eyes open and watching any unregulated digital currency exchanges within the...

No doubt the FTX debacle and the arrest of its founder and chief executive Sam Bankman-Fried will go down as some of the biggest problems to ever strike the crypto space, but according to a new report, it appears the damage caused by FTX and its irresponsible (and selfish) employees may have been even greater than what analysts initially thought. The Trouble Surrounding FTX Might Have Done More Damage The document in question suggests that as much as $200 billion was...

Last year, a company called Classic Parade announced it was going to let crypto fans rent their classic cars using crypto. Now, the company is taking things a step further by introducing a brand new digital currency payment system. Classic Parade Continues Its Crypto Journey Based in the United Kingdom, Classic Parade offers a wide array of classic and luxury vehicles individuals can rent. Andrew Brown – the founder and owner of Classic Parade – explained in a recent...

Are non-fungible tokens (NFTs) making a comeback? According to the recent progress of the Ordinals series, the answer might be a resounding “yes.” Ordinals Are Making Their Marks NFTs are still relatively new to the crypto space. As pixelated art tokens, they’ve often been sold for hundreds of thousands of dollars, and by the end of 2020, the space had an overall valuation that stood in the billions. Things looked great for the NFT arena, and many investors thought there...

Senator Tommy Tuberville – a republican from the state of Alabama – is reintroducing a bill that would prevent the Department of Labor from getting in the way if retirees want to use their funds to purchase crypto or other forms of speculative assets. Tommy Tuberville Seeks to Protect Crypto Retirement Investments The move is being initiated not so much because Tuberville is a major crypto fan, but because he’s sick and tired of Biden and his nation-hating cronies...

Elizabeth Warren – the “democrap” senator of Massachusetts – is, once again, sounding the alarm on the digital currency arena. She is allegedly concerned about the fall of FTX and the mishandling of funds by Sam Bankman-Fried, and believes that the space exhibits vulnerability like it never has before. Elizabeth Warren Is Again Going After Crypto Because of this, she is working to allegedly create a new bipartisan committee that will look at the problems surrounding the...

Christopher Waller is the Federal Reserve board governor. In a recent interview, he made it clear he’s not a fan of the digital currency space, nor does he think crypto assets have any real value to them. Christopher Waller Is Concerned About Crypto In the discussion, Waller said that most digital currencies were “speculative” and comparable to baseball cards. He also said that the only value they have stems from the belief of others. He stated: If you buy crypto assets...

Crypto fans (and everyday Americans) are counting down the days to November 2024. Why? Because that’s the month they can finally vote Joe Biden out of office for good. Biden Has Done Nothing for America or Crypto Traders Biden has arguably been the most destructive leader America’s ever witnessed. In just the last two years, the economy has fallen into disarray, inflation is at an all-time high, food and gas prices have soared, crime and homelessness have increased, and...

Following record-high adoption in 2022, the Internal Revenue Service (IRS) is revamping its crypto reporting requirements. The IRS Is Upping the Ante on Its Crypto Reporting Requirements For starters, the IRS is no longer referring to crypto as “virtual currencies” but as “digital assets.” On your 1040 income tax form, you will now be asked the following question: At any time during 2022, did you: (a) receive (as a reward, award, or payment for property or services); or...