Bitcoin started the weekend hovering near $23,000, as markets continued to react to personal consumption data in the United States. Figures released on Friday reported that spending fell by 0.2% last month, despite overall consumer sentiment moving higher. Ethereum remained close to $1,600 to start the day. Bitcoin Bitcoin (BTC) remained close to the $23,000 level on Saturday, as markets…
Decrypting DeFi is Decrypt’s DeFi email newsletter. (art: Grant Kempster) If you’ve been in DeFi for a while, you already know about yield farming and the Curve Wars. But what about utility farming? A new project called Fluidity claims to be ushering in a new era for handing out crypto coins for different projects. This time, it wants to reward active users—not just mercenary…
The Brazilian city of Sao Paolo has introduced the concept of blockchain in its municipal data access and transparency law. The concept of blockchain is defined as a technology that can be of use in this field, but the city has not defined the structures or the implementation for its use in the future. Sao Paolo Law Introduces Concept of…
With the deadline approaching for filing the 2022 federal income tax return, the Internal Revenue Service (IRS) — an enforcement agency of United States federal tax laws — released a list of reporting requirements for the general public dealing with cryptocurrencies. Until 2021, the IRS used the term “virtual currencies” in income tax-related reporting forms, which have been updated to…
Bitcoin (BTC) remains firmly “bullish” at $23,000, according to new on-chain metrics from one of the industry’s best-known names. In a preview on Jan. 28, market cyclist and on-chain analyst Cole Garner revealed what he said were “backtested and validated” Bitcoin trading tools. Garner: BTC price signals should excite bulls While BTC/USD attempts to push through liquidity above $23,000, the…
Advisors to the Kremlin have suggested that home crypto mining should be banned in Russia, or in some of its regions. The stated motive for the proposal is to prevent fires in residential buildings. Amateur miners have been blamed for high loads on the grid causing breakdowns and blackouts. Energy Experts Want to Prohibit Mining Cryptocurrency in Russian Homes The…
As traditional institutions proactively reduce exposure to cryptocurrencies as a reaction to ecosystem collapses in 2022, Binance CEO Changpeng ‘CZ’ Zhao believes this move could potentially have a negative impact on such traditional financial players. The collapse of major crypto platforms, such as FTX and Terraform Labs, not only reduced trust among investors but also forced the traditional market to…
The crypto firm Matrixport, led by former Bitmain CEO Jihan Wu, is laying off 10% of the company’s staff, according to reports published on Friday. Matrixport’s COO, Cynthia Wu, cited a “shift in the regulatory climate” and “industry-wide capitulations” as reasons for the layoffs. Matrixport Lays Off 10% of Staff as Crypto Winter Continues Jihan Wu’s Matrixport is letting go…
Federal prosecutors have requested that former FTX CEO Sam Bankman-Fried’s (SBF) bail conditions are modified to prevent further alleged attempts at influencing witnesses’ testimonies. Court documents filed on Jan. 27 revealed that The Department of Justice (DOJ) have asked U.S. District Court Judge Lewis Kaplan to ban Bankman-Fried from communicating with “current or former employees” of FTX or Alameda. The…
The White House released a statement on Jan. 27 that provided the United States President Joe Biden administration a roadmap for mitigating risks associated with cryptocurrencies. Much of the document was addressed to the U.S. Congress with the administration’s legislative guidance. The authors of the statement outlined a two-pronged path forward. They wrote: “We have spent the past year identifying…
