Reddit users speculated that the president might be referring to the IRS wash sale rule not being applied to crypto yet. Source: https://cointelegraph.com/app/public/index.php/news/biden-calls-to-end-18b-crypto-tax-loopholes-community-begs-to-differ
Month: May 2023
Hall of Flame – Cointelegraph Magazine
Will Clemente III has 680,200 followers on Twitter thanks to his viral crypto analysis content. He co-founded blockchain research firm Reflexivity Research with Anthony “Pomp” Pompliano while still a teenager. Who is this guy anyway? Will Clemente III is still only 21 years old, but his keen insights into the industry mean he’s followed by some of the biggest names…
What is MiCA? The European Union’s Landmark Crypto Regulation Explained
Markets in Crypto Assets (MiCA) is a piece of European Union regulation that will likely become law in July 2023, with some of its rules taking effect in July 2024 and others by January 2025. It is part of a wider digital finance package that has been put together within the EU, and has been hailed as the most significant…
Grayscale Investments Files for 3 New Exchange Traded Funds – Bitcoin News
On May 9, digital currency fund manager Grayscale Investments announced the establishment of the Grayscale Funds Trust and submitted registration filings for three exchange-traded funds with the U.S. Securities and Exchange Commission. Grayscale Introduces Grayscale Funds Trust and Files for 3 ETFs As the leading digital currency fund manager, in terms of assets under management (AUM), Grayscale Investments unveiled the…
How memecoins performed first time hitting $1B market cap
Memes, internet jokes, and popular culture references have become an integral part of online communities. Because of this, cryptocurrencies inevitably gave birth to a new wave of assets called “memecoins.” While some argue that these coins are just a fad, others might also believe in their potential to bring financial gain to their investors. One of the most popular memecoins…
Bitcoin eyes $28K push as traders demand CPI day BTC price volatility
Bets are in for how BTC price action will react to the latest CPI print, with data favoring inflation dissipating in the coming months. Source: https://cointelegraph.com/app/public/index.php/news/bitcoin-eyes-28k-push-as-traders-demand-cpi-day-btc-price-volatility
Mods purge crypto from the original meme subreddit
Moderators on Reddit began to take action on crypto-related Pepe the Frog hype flooding into the meme’s original subreddits after the explosion of the $PEPE memecoin. On May 9, a moderator for the “r/pepethefrog” pinned a post in which they declared that all “cryptocurrency promotion and all similar schemes such as NFTs” will be banned from the subreddit. “This subreddit…
Marathon Digital CEO: Crypto Crash Has Cleaned Out ‘Unsavory Operators’
The crypto winter has helped clean out “unsavory operators” in the industry, Marathon Digital’s chief executive has said. Speaking at the Financial Times’s Crypto and Digital Assets Summit, Fred Thiel compared last year’s market upheaval to the dot-com boom, which saw an “initial hype cycle” give way to a “commercialization phase.” “I think this period of stress that the crypto…
Buzzfeed shutters news division, leans into AI
Less than one month after it shuttered its news division and laid off 180 staffers, BuzzFeed’s CEO says it’s “leaning into AI” in a Q1 earnings call. Source: https://cointelegraph.com/app/public/index.php/news/buzzfeed-shutters-news-division-leans-into-ai
Bitcoin Developer Calls to Block Ordinals, BRC-20 Tokens From Network
The meme coin and NFT trading phenomena on Bitcoin caused by Ordinals have led to a massive spike in transaction fees and blockchain congestion. Now, at least one developer has offered a solution. Luke Dashjr, a leading Bitcoin code contributor on Github, emailed other Bitcoin developers and miners asking them to implement “spam filtration” as a part of Taproot transactions…