Developers from the Arbitrum Foundation announced the launch of Arbitrum DAO and its native governance token, ARB, on March 16. Eligible users and developers will receive 12.75% of the token’s total supply of 10 billion on March 23, when the token will be deployed. Speculation around ARB began soon after the token launch announcement on OTC desks, derivatives exchanges and…
Bitcoin (BTC) headed to new nine-month highs after the March 21 Wall Street open as a crucial Federal Reserve interest rate decision loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price climbs despite conservative Fed view Data from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $28,500 on Bitstamp. The latest in a succession of multi-month highs, the latest…
Individuals in the United States who planned on padding their retirement accounts with JPEGs may want to reconsider, following an announcement today from the Internal Revenue Service (IRS) that it may preclude NFTs from IRAs. The IRS and U.S. Treasury Department announced that they plan to issue guidance that could cause NFTs to be treated similarly to physical collectibles like…
The self-regulatory trade association CryptoUK has proposed providing a ‘white list’ of registered firms in the United Kingdom to address banks limiting or banning transactions to crypto companies. In separate letters to U.K. Economic Secretary Andrew Griffith and members of the Financial Conduct Authority and Payment Systems Regulator dated March 21, CryptoUK said many banks had begun imposing blanket bans…
The Internal Revenue Service said they plan to release guidance on having nonfungible tokens, or NFTs, treated as collectibles under the United States tax code. In a March 21 notice, the IRS called for feedback from the U.S. public on how NFTs could be taxed as collectibles. According to the government body, collectibles under U.S. tax law “do not have…
sponsored Serving as a committee member of Alchemy Pay’s management and advisory board, and as Global Strategic Adviser to support Alchemy Pay’s expansion and growth in global markets, contributing actively to strategy, compliance and government relations. Alchemy Pay, Singapore based pioneer of the world’s first payment gateway solution to bridge the gap between fiat and crypto economies, has announced the…
Private Swedish pension fund Alecta has sold its shares in First Republic Bank, the American bank struggling to stay afloat after a serious drop in share value, a bank spokesperson announced March 21. Alecta was the bank’s fifth-largest shareholder. Alecta took a loss in the deal after losing funds in the collapses of Silicon Valley Bank (SVB) and Signature Bank. First…
This week on The Market Report, our beloved host, Joe Hall, and insightful expert, Sam Bourgi, unfortunately, could not make it, but don’t worry because Marcel Pechman is here to discuss why he thinks Bitcoin’s (BTC) price is rising amid collapsing banks. We kick things off with this week’s first article: UBS Group agrees to $3.25B “emergency rescue” of Credit…
Following the last two difficulty increases on the Bitcoin network, another rise in difficulty is expected to take place on March 24, 2023. Statistics show that Bitcoin’s hashrate has remained high despite the last two adjustments, and block times have been faster than the ten-minute average. Bitcoin Difficulty Expected to Rise Following the Past Two Consecutive Increases At the time…
Alternative internet developer tomi has raised $40 million from venture capital firms as part of a broader effort to lure content creators to its decentralized World Wide Web alternative. The funding round was led by venture firms DWF Labs, Ticker Capital and Piha Equities, as well as Japanese crypto investor Hirokado Kohji, tomi announced on March 21. The funding will…
