Bitcoin.com Exchange Reveals Role in the Cryptopia Rescue Group

The world-class trading platform, Bitcoin.com Exchange announced it’s participating in the Cryptopia Exchange rescue consortium in order to help redistribute coins to customers. Bitcoin.com’s trading platform will provide an exchange environment in order to bolster the Cryptopia Rescue redistribution plan. Back in January 2019, the New Zealand cryptocurrency trading platform Cryptopia Exchange suffered a major breach and it affected 2.3 million account holders from all around the world. Estimates note that roughly $860 million worth of cryptocurrency was held on the exchange before the hack. Bitcoin.com is pleased to announce…

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An overview of NFT marketplaces

Currently worth $100 million, the nonfungible tokens industry is changing how the ownership and authenticity of digital assets are perceived. Leading entities in the gaming and blockchain world are already experimenting with NFTs in all sorts of ways. However, the primary goal is to prove the authenticity and ownership of digital items, which had proven difficult until the advent of blockchain technology. Through blockchain technology, digital assets can have unique identifiable attributes that make them rare and irreplaceable. On NFT marketplaces such as OpenSea, a multitude of projects are at…

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How the IRS tracks down people who don’t report their crypto

Crypto income taxation is a murky arena at present. It would seem that even the U.S. Internal Revenue Service, or IRS, has a tough time figuring out who owes what, according to Wendy Walker, solution principal at the tax compliance company Sovos.  “In the typical tax system, the IRS uses 1099 reporting,” Walker told Cointelegraph in an interview. “So, 1099, W2, that tax reporting, it’s the primary tool that they use to enforce tax compliance,” she added. When people fail to report their crypto activities, the IRS is left with a…

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Central Banks Dump Gold for the First Time Since 2010, Precious Metal Drops 9% Since August High

A few central banks have started selling tons of gold for the first time since 2010 in order to ease the financial suffering from the Covid-19 pandemic. At $1,875 per ounce, gold prices are down -9.63% since the commodity’s high of $2,075 on August 6. Even though gold has dropped significantly in value in contrast to bitcoin (BTC), gold bug Peter Schiff decided to use the opportunity to rag on bitcoin on Twitter. “If you measure the size of asset bubbles based on the level of conviction buyers have in…

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What Could Utreexo Mean For Bitcoin? – Bitcoin Magazine

Listen To This Episode: On this episode of The Van Wirdum Sjorsnado, Aaron and Sjors are once again joined by Ruben Somsen. But this time, the trio isn’t discussing one of Somsen’s own proposals but diving into a concept from research scientist and Lightning Network creator Tadge Dryja called “Utreexo.” Whenever a new Bitcoin transaction is made, Bitcoin nodes use a UTXO set (the overview of all bitcoin in existence at any given time) to determine that the coins that are being spent really exist. This UTXO set is currently…

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Impending pennant breakout sets Bitcoin price back on the path to $14,000

As the weekend approaches, Bitcoin (BTC) price appears set to close out the month with a remarkably strong performance which has many bulls calling for a new all-time high above $20,000 in the near future.  Traders attribute these lofty estimates to the fact that BTC appears to have flipped $12,000 to $12,500 to support and barring some unexpected price implosion, Bitcoin is on the path to painting a beautiful monthly candle. Crypto market weekly price chart. Source: Coin360 Further ‘bullish’ evidence comes from today’s options and futures expiry which saw…

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Italian man caught allegedly using airport computer systems for ETH mining

An Italian airport staffer allegedly took advantage of the computer systems at his place of work in order to mine Ethereum (ETH). Employed at an airport located in the Italian city of Lamezia Terme, the staffer allegedly put mining malware onto the airport’s computer systems, said a news brief today from Italian media outlet Rai News. The employee is said to have set up multiple mining rigs on site, taking advantage of the airport’s backend systems in the process. Authorities eventually caught the culprit via security cam footage. Technical services provide…

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The SEC Votes to Modernize Regulatory Framework for Derivatives Use

The US Securities and Exchange Commission (SEC) will enhance the regulatory framework for derivatives use by registered investment companies after passing a vote to either change or amend existing rules. As part of the new framework–which covers mutual funds, exchange-traded funds (ETFs), and closed-end funds–operators must undertake to implement a written derivatives risk management program. A Modern Approach to Derivatives Regulation The rule changes, which open the doors for more leveraged ETFs, will also permit a fund to enter into reverse repurchase agreements and similar financing transactions, as well as…

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Nearly 24% of Ether held on exchanges — Three times the percentage of Bitcoin

Almost one-quarter of Ether’s (ETH) circulating supply is held on cryptocurrency exchanges, according to analytics platform ViewBase. The website shows that 26,768,260 ETH is on exchanges, equating to 23.6% with a value of $10.3 billion. Almost 26 million of these tokens are held by 10 centralized exchanges, with Coinbase alone sitting on 8,521,807 ETH — 7.5% of the supply. Ether is miles ahead of Bitcoin (BTC) in terms of the percentage of tokens held on exchanges. Bitcoin has 8.1% of its circulating supply held on exchanges. Earlier this month, Cryptocurrency statistician…

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Blockchain could become a part of the US military’s strategic weaponry

One often hears blockchain in the same breath as security and supply chains. This week, a winning entry to a competition organized by the United States Department of Defense cast both these aspects in a new light. To keep pace with the ever-more technologized battlelines of contemporary warfare, the DoD continues to explore ways to innovate the manufacturing process and supply chain for weaponry and infrastructure in use by the Air Force and avy.  The Advanced Manufacturing Olympics, held virtually this year on Oct. 20–23, sought to recruit traditional DoD contractors,…

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