The Internal Revenue Service is hiring 87,000 new agents, but taxpayers will not feel the pain for another two to three years. That’s how long it will take the agency to hire and train agents. Few have discussed the extent of this pain. Still, it’s something to think about when you consider the majority of coming audits will be conducted…
The Wall Street Journal and Coinbase are having differences over definitions. The newspaper published an alleged account of the digital asset exchange’s trading activities earlier this year that it claims amount to proprietary trading. Coinbase responded in a blogpost that it had done no such thing. Relying on information supplied by “people at the company,” the WSJ wrote on Sept.…
Bitcoin’s (BTC) and Ether’s (ETH) agonizing 60% and 66% respective drop in price is drawing a lot of criticism from crypto critics and perhaps this is deserved, but there are also plenty of stocks with similar, if not worse performances. The sharp volatility witnessed in crypto prices is partially driven by major centralized yield and lending platforms becoming insolvent, Three…
Web3 software firm Chain has entered into a four-year marketing deal with Kraft Sports + Entertainment, a sporting subsidiary of Kraft Group, to serve as the “official blockchain and Web3 sponsor” for the New England Patriots, New England Revolution, Gillette Stadium, and Patriot Place. Chain and Kraft Sports + Entertainment will work together to develop “state-of-the-art Web3 experiences” for Patriots…
Crypto-focused finance company Delio has partnered with Blockdaemon to launch retail-focused staking services, giving customers a more seamless way to earn rewards on their digital asset holdings. Delio’s staking services expand its existing crypto-bank offerings, which include lending, deposits and deposit accounts, the company announced Thursday. The new service offering is powered by blockchain infrastructure provider Blockdaemon, which provides a…
Ethereum coin mixer Tornado Cash is now back on software hosting website GitHub. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) last month blacklisted Tornado Cash, which allows users to anonymously send and receive Ethereum. American citizens are now banned from interacting with the app, which pools together transactions to obscure their origins. GitHub, a website which…
Israeli regulators grant the first VASP license to Bits of Gold after 5 years of waiting.The company is launching two new products in the near future. One of the products will be custodial while the other integrates its services with legacy finance in the region. The Israeli Insurance and Savings Capital Market Authority (ISCMA) has granted cryptocurrency exchange Bits of…
While the greenback has been rising higher, the Japanese yen tapped a 24-year low and Japan decided to intervene in foreign exchange markets (forex) for the first time since 1998. Reports say the Bank of Japan conducted the first forex intervention in 24 years, after the Japanese central bank kept its benchmark bank rate suppressed for quite some time. Following…
Cryptocurrency exchange CoinFlex announced a structuring proposal in response to user feedback following the platform experiencing liquidity issues. In a Wednesday blog post, CoinFlex said under the proposal — which will be subject to a vote and court approval— creditors will own 65% of the company, while its team members will be allocated 15% of shares as part of an…
press release PRESS RELEASE. Stockholm, September 22nd: As the world moves into more digital environments, Swedish beauty-tech giant FOREO has taken the initiative to bring a whole new product to audiences everywhere – the beauty NFT. Blockchain technology has allowed FOREO to challenge traditional skincare protocol and unobtainable beauty standards by bringing its renowned beauty range LUNA into the 21st…
