Blog

Why Bitcoin price and volume rising together is bad news for Ethereum, altseason

Bitcoin (BTC) is sucking up the volume from the entire cryptocurrency market as it continues to rally. This is causing the alternative cryptocurrency (altcoin) market to pullback, which has seen rising selling pressure and low buyer demand. On Oct. 30, researchers at Santiment pinpointed the growing volume and dominance of Bitcoin, while Chainlink (LINK), Ether (ETH) and Binance Coin (BNB) struggled. They wrote: “The dominance involving #Bitcoin is continuing to display itself, particularly via trading volume. When comparing other top blockchains in the past day, note the decline in $ETH,…

Read More

Former Google lawyer joins spate of high-profile attorneys entering crypto

On Friday Coinbase Inc. announced the appointment of former Google Senior Legal Director Milana McCullagh as deputy general counsel for product and commercial legal. McCullagh, who worked for more than 13 years at Google, will work across functions at Coinbase on product legal support, helping the firm to streamline legal compliance for new product launches. McCullagh’s appointment is part of both a Coinbase campaign to attract legal talent that started last year, as well as a broader industry-wide movement of top-tier attorneys joining crypto firms.  Between August and October, Coinbase…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More