On July 29, Cointelegraph reported that provisions had been hastily added to the infrastructure bill that sought to raise $28 billion through expanded taxation and impose stringent third-party reporting requirements for any entity deemed to comprise a cryptocurrency “broker.” The provision’s broad language sent shockwaves across the crypto community, with onlookers noting that software developers, …
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Bitcoin (BTC) Faces Strong Rejection as Bitcoin Fluctuates Below $47,000 – August 10, 2021 BTC/USD – Daily Chart Buy Bitcoin Now Following the breakout on August 6, the bulls overcame the resistance at $42,299 to reach the $47,000 resistance. Buyers could not sustain the bullish momentum above the $47,000 high. If buyers have succeeded, Bitcoin …
Shark Tank host Kevin O’Leary has become an official spokesman for Sam Bankman-Fried’s FTX crypto exchange and will be paid in crypto and receive equity as part of the deal. According to an Aug.10 announcement, the partnership with FTX Trading Ltd. and West Realm Shires Services Inc. (owners of FTX.US and FTX.com) will see O’Leary …
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A cryptocurrency enthusiast who exploited a bug in the ICON network to mint a large amount of its native ICX token can pursue entitlement claims according to a California federal judge. On Monday, Aug. 9, U.S. District Judge William H. Orrick said that the case raises novel questions about digital property. He added that plaintiff …
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Paypal-owned payments firm Venmo has launched a new crypto ‘cash back’ feature that includes zero transactions on crypto purchases. According to an Aug. 10 announcement, Venmo’s “Cash Back to Crypto” service went live yesterday and enables credit card customers to spend their cashback rewards on digital assets hosted on the platform. Say hello to Cash …
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The theoretical deflationary properties of Ethereum’s London upgrade last week have already been seen in action on the blockchain with almost 800 “deflationary blocks” produced. A spike in the Ethereum transaction fee burn rate has resulted in at least two hours when the supply was deflationary. The network has come under heavy load over the …
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A decentralized finance (DeFi) cross-chain bridging protocol Poly Network recently announced that it has suffered an attack in which the hacker stole over $600 million across three blockchains. The cross-chain interoperability network flagged the attacker’s addresses on Twitter, which revealed the extent of a massive exploit, urging miners of the affected blockchains and crypto exchanges …
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Bitcoin (BTC) miners in one of Venezuela’s most important industrial states, Carabobo, had their electricity cut off by authorities, Criptonoticias reported. On August 7, the regional officials effectively shut down crypto mining operations in the key state by suspending the power supply to all registered miners in the territory. Putting pressure on underground mining According …
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Afek Zard, a resident of Israel, has been sentenced to eight years in prison for embezzling a large sum of cryptocurrency that belonged to a friend of his. The man, who refused to cooperate with the investigation, will have to pay a hefty fine as well. Israeli Resident Sentenced for Cryptocurrency Theft The 27-year-old Zard …
A commissioner with the U.S. Securities and Exchange Commission (SEC) has criticized the securities watchdog for focusing on enforcement actions in its oversight of the crypto industry. SEC Commissioner Slams Agency for Focusing on Enforcement Actions in Regulating Crypto Assets SEC Commissioner Hester Peirce criticized her own agency Monday after it announced an enforcement action …
The U.S. Senate has passed the $1.2 trillion infrastructure bill with a crypto reporting requirement provision that has been described as “unworkable.” Senator Ted Cruz warned: “This infrastructure bill has in it a portion that is designed to obliterate crypto. That would be a tragic mistake.” Senate Passes Infrastructure Bill With ‘Unworkable’ Crypto Tax Provision …
Coinbase generated $2.23 billion of revenue for the second quarter of 2021, as Ethereum (ETH) trading volume surpassed Bitcoin (BTC) for the first time on the platform. Coinbase posted its Q2 report on Aug. 10 and the crypto exchange’s revenue beat analyst predictions — with industry standard financial estimators Refinitiv forecasting $1.78 billion in expected …
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Among the more than 11,000 listed cryptocurrencies exist a few projects that offer a revolutionary use case capable of improving the way society operates through the integration of blockchain technology. One such project is Helium (HNT), a decentralized peer-to-peer 5G wireless network that made headlines on Aug. 10 thanks to the successful completion of a …
Continue reading “Helium (HNT) gains 40% after $111M fundraise and 100K active nodes milestone”
Popular analyst Will Clemente says Bitcoin remains undervalued based on the strength of the leading cryptocurrency’s on-chain fundamentals. In his latest weekly overview, Clemente highlights two surging on-chain metrics, which he says are significantly outpacing the rise of BTC’s value. ADVERTISEMENT “In blue, illiquid supply shock ratio, which compares the movement of coins from …
Cardano (ADA) has been in the spotlight lately and this is partially because of its early 2021 price performance and the fact that its huge fan base has been anxiously awaiting the launch of the network’s smart contract capability in the upcoming Alonzo upgrade. While the rise of DeFi took place and the total value …
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