Seven members of the United States Senate have called on the Treasury Department and Internal Revenue Service (IRS) to advance a rule imposing certain tax reporting requirements for crypto brokers “as swiftly as possible”. In an Oct. 10 letter to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, a group of U.S. senators including
Month: October 2023
Investing legend Paul Tudor Jones has revealed that he’s bearish on stocks and bullish on gold and Bitcoin (BTC). The two main reasons he cites are the potential for an escalation of the conflict between Israel and Hamas, and subpar fiscal conditions in the United States. While an inverted yield curve wasn’t included in Tudor’s
Buyers are finding it difficult to maintain Bitcoin (BTC) price above $27,000. The selling increased after the September producer price index rose 0.5% for the month versus expectations for a 0.3% increase. This shows that the inflation pressures are unlikely to ease in a hurry for the United States economy. The uncertain near-term environment has
In a world increasingly anxious about privacy and exploitation of one’s personal data by governments, corporations, social media platforms and banks, zero-knowledge proofs may offer some relief. Indeed, this emerging cryptographic protocol could partially remedy two rapidly growing global deficits: privacy and truth. ZK-proofs have already found a home within the cryptocurrency and blockchain sector
Cryptocurrency exchange Bitstamp hopes to return to Canada after halting operations early next year, according to Bitstamp U.S. CEO and global chief commercial officer Bobby Zagotta. Bitstamp will officially discontinue its services to customers in Canada starting from Jan. 8, 2024, the exchange confirmed in a statement to Cointelegraph. As a result of the service
A Bitcoin developer has proposed a new way to bring more expressive off-chain smart contracts to Bitcoin without needing a soft fork. Announced in an Oct. 9 white paper titled “BitVM: Compute Anything on Bitcoin” by ZeroSync project lead Robin Linus, BitVM enables Turing-complete Bitcoin contracts without altering Bitcoin’s consensus rules. “Any computable function can be
The hacker responsible for stealing over $400 million from FTX and FTX.US in November could be using the hype around Sam Bankman-Fried’s fraud trial to further obfuscate the funds, said CertiK director of security operations Hugh Brooks. Only days before the start of Bankman-Fried’s criminal trial, the FTX hacker, known as “FTX Drainer,” began moving millions
US dollar stablecoin issuer Circle has announced that it has begun minting USD Coin (USDC) natively on Ethereum layer 2 scaling protocol Polygon. USDC is accessible to both users and developers without the need to bridge the stablecoin from Ethereum or other blockchain. Circle Mint and Circle’s developer API’s now support Polygon-based USDC, tapping into
The Financial Conduct Authority (FCA) of the United Kingdom has placed restrictions on peer-to-peer lending platform Rebuildingsociety, the firm with which crypto exchange Binance partnered for compliance with the regulator’s marketing regime. In an Oct. 10 notice, the FCA said Rebuildingsociety was not authorized to “approve the content of any financial promotion for a Qualifying
Former FTX CEO Sam “SBF” Bankman-Fried had ambitions to become president of the United States, according to his former girlfriend and business associate Caroline Ellison. Appearing in court on Oct. 10 to testify against Bankman-Fried, Ellison reportedly said the former FTX CEO wanted to be the U.S. president in the future. The declaration followed the
Day six of the trial of Sam Bankman-Fried saw the conclusion of former FTX chief technology officer Gary Wang’s testimony and the beginning of former Alameda Research CEO Caroline Ellison’s. Wang testified about his plea deal, among other things. According to Inner City Press on X (formerly Twitter), Assistant United States Attorney Nicolas Roos asked
At the time of publication, half of the legislative branch of the federal government of the United States was largely paralyzed following a vote ousting then Speaker Kevin McCarthy. U.S. lawmakers voted to declare the office of Speaker of the House of Representatives vacant on Oct. 3, marking the first time in the history of
A Brazilian congressional committee has recommended local law enforcement move to indict Binance CEO Changpeng “CZ” and three other Binance executives following a probe into financial pyramid schemes in Brazil. On Oct. 10 the committee released a 500-page final report accusing Zhao and local Binance executives Daniel Mangabeira, Guilherme Haddad Nazar and Thiago Carvalho of
A bipartisan parliamentary committee has urged the British government to protect creators from copyright infringement associated with nonfungible tokens (NFTs) and address potential harms from sporting groups issuing digital assets. In an Oct. 11 press release, Culture, Media and Sport Committee members warned the “most pressing issue” was the risk to artists’ intellectual property rights
Love him or hate him, when Arthur Hayes speaks, people listen. Last week, as a guest on Impact Theory with Tom Bilyeu, Hayes made the case for why he believes Bitcoin (BTC) price will hit $750,000 to $1 million by 2026. Hayes said, “I absolutely agree that there is going to be a major financial
Binance-spearheaded Industry Recovery Initiative (IRI), a co-investment project aiming to support the cryptocurrency industry in the aftermath of the FTX collapse, may not have been as effective as desired, a new report suggests. After announcing the IRI in November 2022, Binance spent $15 million in its BUSD (BUSD) stablecoins out of its total commitments of
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