Bitcoin holds firm around $29,000 as markets escape a “shock” from the week’s main macro event. Source: https://cointelegraph.com/public/index.php/news/bitcoin-price-holds-29k-as-us-pce-data-sparks-90-fed-rate-hike-bets
Month: April 2023
UK Treasury seeks input on taxing DeFi staking and lending: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The taxation arm of His Majesty’s Treasury in the United Kingdom has proposed new regulatory changes to simplify how DeFi returns are taxed and reduce the “administrative burden” for taxpayers. A DeFi…
Terra Classic Advocates Propose Plan to Re-Establish USTC’s Peg With US Dollar, Token’s Value Surges by Over 9% – Bitcoin News
Almost 12 months back, terrausd (UST), an algorithmic stablecoin, suffered a detachment from the U.S. dollar, causing the Terra ecosystem to crumble shortly thereafter. At present, supporters of the Terra Classic blockchain community are deliberating on a plan to revive the ecosystem by re-establishing the once-stable token’s peg with the U.S. dollar. In response to the proposed development, the value…
Venmo will enable fiat-to-crypto payments in May
Users of mobile payments service Venmo will soon be able to buy cryptocurrencies and send them to other Venmo users or external wallets beginning in May, according to an April 28 announcement from PayPal executive Jose Fernandez da Ponte. PayPal is the parent company of Venmo. Dropping in to announce a new feature of ours: crypto transfers⚡Get started now. https://t.co/R9QtUENfae…
Tax law researchers propose IRS framework for deducting crypto losses
Researchers at Indiana University and the University of Maine recently published a study examining the current state of cryptocurrency tax law in the United States. The research concludes with recommendations for the Internal Revenue Service (IRS) that, if adopted, would prevent taxpayers from weighing crypto losses against other capital gains. The paper, dubbed simply “Crypto Losses,” seeks to define the…
Adidas and Pharrell Release Digital Clothing for Doodles NFT Holders
Doodles is expanding from its Ethereum profile picture (PFP) origins to fully customizable avatars. Today’s launch of the Doodles 2 Character Builder within The Stoodio app for NFT holders marks a big step forward—with help from Pharrell Williams and Adidas. Alongside the launch of the Character Builder, which lets Doodles NFT holders change their apparel and attributes for a full-body…
How will a US debt default impact Bitcoin?
Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity. The risks of a United States debt default are the first topic of this week’s show, which comes from none…
US Government in Talks to Rescue Struggling First Republic Bank, Sources Say – Bitcoin News
Sources have revealed that U.S. government officials are in talks to rescue First Republic Bank, a struggling financial institution. The discussions involve the U.S. Treasury, the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve, according to reports on Friday. Private-Sector Deal Preferred as U.S. Government Officials Discuss First Republic Bank Rescue Efforts Market observers have been keeping a close…
What is Auto-GPT, and why does it matter?
Auto-GPT is a powerful tool for task automation that combines natural language processing and deep learning to generate human-like text responses. Source: https://cointelegraph.com/explained/what-is-auto-gpt-and-why-does-it-matter
A new step in asset tokenization
As digitalization takes over the financial industry, tokenization is becoming an integral part of tomorrow’s capital market. While making use of blockchain technology, tokenization securitizes assets in a digital way and creates a flurry of opportunities for assets, markets and potential investors. The continuously growing tokenization market is expected to reach $16 trillion by 2030 in the illiquid segment alone,…