IRS Unveils Overhauled Crypto Tax Form With No Address Disclosure Requirements
The U.S. Internal Revenue Service (IRS) has unveiled an updated Form 1099-DA for reporting digital asset transactions, introducing key changes that may address past criticism and privacy issues. This new version, reportedly set to be partially implemented in 2025, removes several contentious elements from earlier drafts. IRS Revamps Crypto Reporting Form On Aug. 8, 2024, […]
Over a Dozen 11-Year-Old Bitcoin Wallets Awaken, Transferring Millions
In recent days, as bitcoin edged past the $60,000 mark after dipping below $50,000 on Monday, Aug. 5, a couple of intriguing dormant bitcoin transfers have surfaced from wallets established in 2013. The first case involved an individual who moved 250 BTC—worth just over $15 million—from a long-inactive address created on May 12, 2013. In […]
Spot Bitcoin and Ethereum ETFs Shed Millions in Friday Trading
During Friday’s trading sessions, U.S. spot bitcoin and ethereum exchange-traded funds (ETFs) experienced significant outflows, with $89.73 million exiting the BTC ETFs and $15.71 million flowing out of the ETH ETFs. Bitcoin and Ethereum ETFs See Reductions Data from sosovalue.xyz revealed that the 12 spot bitcoin ETFs collectively saw $89.73 million in outflows on Friday, […]
Wazirx to Reverse All Trades Made After Withdrawal Freeze
Indian crypto exchange Wazirx has decided to reverse all trades made after withdrawals were halted following the recent cyberattack. The exchange announced that this process will take place over the next few days, with all users’ portfolio balances on the platform being restored to their July 18 post-hack levels. Wazirx to Reverse Trades Following Withdrawal […]
QCP Capital: Bitcoin Bounces Back Above $60K as Ethereum Struggles
QCP Capital reports that bitcoin (BTC) has shown a strong recovery this week, stabilizing above the $60,000 range after a sharp drop below $50,000 on Monday. In contrast, the firm highlights a significant liquidity shift in ethereum (ETH), raising concerns about its current market standing. QCP Capital Reports Bitcoin’s Resilience Amid Volatility; Ethereum Faces Liquidity […]
NFT Sales Hit $95.42M With Ethereum Dominating, but Market Participation Shrinks
Between Aug. 3 and Aug. 10, 2024, non-fungible token (NFT) sales experienced a 6.29% increase from the previous week, hitting a total of $95.42 million. However, the number of participants in the NFT market saw a sharp decline, with buyers dropping by 86.34% and sellers by 77.25%. NFT Market Sees 6.29% Growth This past week, […]
Online Gaming Veteran: Top Tech, Strong Marketing Key to Web3 Growth and Adoption
While the biggest blockchain bridge hacks have centered on private key mismanagement, according to Joshua Tobkin, CEO of Supra, smart contract errors and cryptography implementation issues also contribute to cybercriminals’ success. Tobkin said while bridges are poised to play an increasingly critical role in blockchain interoperability, their control by a small number of validators poses […]
Okx Says Accounts Interacting With Tornado Cash Will Be Closed
According to the CEO of the cryptocurrency exchange Okx, users are now barred from account interacting with Tornado Cash and Garantex. In a post on social media, the CEO said any Okx accounts receiving deposits from sanctioned entities, including Garantex and Tornado Cash, will trigger compliance risk control, ultimately leading to account closure. Similarly, any […]
Milei’s Government Creates ‘Minority Report’ AI Unit to Predict Crimes in Argentina
The government of President Javier Milei has created a security-focused artificial intelligence (AI) unit that will use learning algorithms and other technologies to supervise the internet and predict crimes before they happen in Argentina. The unit, created last week, has caught attention in social media due to its similarities with how police act in the […]
Pip World Buys Roblox Stock Simulator Game for Undisclosed Price
Stockrise, Roblox’s highest-grossing stock simulator game, has been acquired by the socialfi gaming platform Pip World for an undisclosed price. The acquisition is expected to help Pip users develop practical risk assessment and trading skills. The deal sees Stockrise join Pip’s social games ecosystem, which includes the immersive trading strategy simulator game Pip Trader. Boosting […]
