Abhinav R. Soomaney Has Written a New Crypto Taxation Book
Author and crypto expert Abhinav R. Soomaney has a new book out called “Cryptocurrency in a Nutshell.” In the composition, Soomaney discusses a big topic in the crypto space: taxation.
A New Crypto Tax Book By Abhinav R. SoomaneyTaxation in crypto has often been talked about amongst even the most knowledgeable analysts given tax protocols within the arena’s borders can be quite complicated. In fact, during the 2020 election, there were two democrat candidates – Michael Bloomberg, the former New York City mayor, and entrepreneur Andrew Yang – that claimed they would make the crypto taxation laws in America easier to understand. This was one of the big staples of their campaigns. That’s how difficult crypto taxation laws can be.
Neither of these candidates were able to get very far given at the time, crypto was still not a major topic amongst the public or politicians like it is today. However, if Soomaney can publish an entire book on the subject, you know things are getting real, and crypto taxation is becoming something that many more people are now curious about.
Author and crypto expert Abhinav R. Soomaney has a new book out called “Cryptocurrency in a Nutshell.” In the composition, Soomaney discusses a big topic in the crypto space: taxation.
A New Crypto Tax Book By Abhinav R. SoomaneyTaxation in crypto has often been talked about amongst even the most knowledgeable analysts given tax protocols within the arena’s borders can be quite complicated. In fact, during the 2020 election, there were two democrat candidates – Michael Bloomberg, the former New York City mayor, and entrepreneur Andrew Yang – that claimed they would make the crypto taxation laws in America easier to understand. This was one of the big staples of their campaigns. That’s how difficult crypto taxation laws can be.
Neither of these candidates were able to get very far given at the time, crypto was still not a major topic amongst the public or politicians like it is today. However, if Soomaney can publish an entire book on the subject, you know things are getting real, and crypto taxation is becoming something that many more people are now curious about.
Galaxy Digital’s Mike Novogratz Says Institutions Waiting for Key Indicator To Flash Before Eyeing Crypto
Galaxy Digital boss Mike Novogratz says that the biggest players are waiting for a certain sign from the crypto markets before looking at allocating capital to the nascent asset class.
In a new interview with Raoul Pal on Real Vision, the crypto veteran says that institutions have mostly done all the due diligence they need on the space, but may be waiting for retail traders to jump in first.
“Crypto needs the retail participants to come back to these communities to buy in, to believe, to drive price, because that’s what’s going to get institutions back engaged. Institutions intellectually understand this business. They understand blockchain versus Bitcoin versus Ethereum. They’ve done all their homework, [but] they’re gun shy. It is going to take energy. Energy is price.”
Galaxy Digital boss Mike Novogratz says that the biggest players are waiting for a certain sign from the crypto markets before looking at allocating capital to the nascent asset class.
In a new interview with Raoul Pal on Real Vision, the crypto veteran says that institutions have mostly done all the due diligence they need on the space, but may be waiting for retail traders to jump in first.
“Crypto needs the retail participants to come back to these communities to buy in, to believe, to drive price, because that’s what’s going to get institutions back engaged. Institutions intellectually understand this business. They understand blockchain versus Bitcoin versus Ethereum. They’ve done all their homework, [but] they’re gun shy. It is going to take energy. Energy is price.”
Exploring the Potential of Defi: How Orbeon Protocol (ORBN), Algorand (ALGO), and PancakeSwap (CAKE) Can Benefit You
Orbeon Protocol (ORBN), Algorand (ALGO), and PancakeSwap (CAKE) are three of the most prevalent Defi protocols available today. Crypto adherents want to know what makes them so attractive and how they can benefit them. And with Orbeon Protocol (ORBN) presale gaining momentum, now is the time to capitalize on this emerging trend.
Algorand (ALGO)Algorand (ALGO) is one of the newest smart contract platforms on the market. Algorand (ALGO) was created by a team of MIT professors and aimed to be one of Defi’s most secure and scalable blockchains.
Algorand (ALGO) uses a consensus mechanism called “Pure PoS”, which is designed to solve the blockchain trilemma of scalability, decentralization, and security. As such, Algorand (ALGO) can handle thousands of transactions per second, is highly decentralized, and provides a high level of security.
Orbeon Protocol (ORBN), Algorand (ALGO), and PancakeSwap (CAKE) are three of the most prevalent Defi protocols available today. Crypto adherents want to know what makes them so attractive and how they can benefit them. And with Orbeon Protocol (ORBN) presale gaining momentum, now is the time to capitalize on this emerging trend.
Algorand (ALGO)Algorand (ALGO) is one of the newest smart contract platforms on the market. Algorand (ALGO) was created by a team of MIT professors and aimed to be one of Defi’s most secure and scalable blockchains.
Algorand (ALGO) uses a consensus mechanism called “Pure PoS”, which is designed to solve the blockchain trilemma of scalability, decentralization, and security. As such, Algorand (ALGO) can handle thousands of transactions per second, is highly decentralized, and provides a high level of security.
OKX Exchange Hints Potential Layoffs Are Coming
Dublin-based crypto exchange OKX has hinted that it’s potentially looking into laying off roughly one percent of its staff as a means of saving money and helping itself during this time of recovery after the 2022 crypto winter.
Is OKX the Next Crypto Firm Looking to Let Employees Go?Right now, the company is putting all employees through a consultation period. The goal is to see what resources can be reallocated and to see which members of the present headcount are no longer serving forward-moving purposes. A spokesperson for OKX mentioned in a statement:
We recently made the decision to enter into employment consultation with less than one percent of our global workforce, employed through OKBL (Dublin) Services and Technology Co. Limited. All affected employees will be assisted through their transition[s] by the company. Net global headcount remains unaffected. This is primarily a global resourcing decision on our part, and we intend to grow our global headcount in 2023. We remain committed to Dublin as an important strategic location.
Dublin-based crypto exchange OKX has hinted that it’s potentially looking into laying off roughly one percent of its staff as a means of saving money and helping itself during this time of recovery after the 2022 crypto winter.
Is OKX the Next Crypto Firm Looking to Let Employees Go?Right now, the company is putting all employees through a consultation period. The goal is to see what resources can be reallocated and to see which members of the present headcount are no longer serving forward-moving purposes. A spokesperson for OKX mentioned in a statement:
We recently made the decision to enter into employment consultation with less than one percent of our global workforce, employed through OKBL (Dublin) Services and Technology Co. Limited. All affected employees will be assisted through their transition[s] by the company. Net global headcount remains unaffected. This is primarily a global resourcing decision on our part, and we intend to grow our global headcount in 2023. We remain committed to Dublin as an important strategic location.
Binance Backs US Authorities in Seizing Over $100M Tied to Crypto Investment Scams
Binance, the world’s largest cryptocurrency exchange, has aided the US Department of Justice (DOJ) in seizing over $112 million linked to cryptocurrency investment scams.
On April 3, the DOJ announced that it had taken control of six virtual currency accounts after judges in the District of Arizona, the Central District of California, and the District of Idaho authorized seizure warrants. The funds were allegedly used to launder proceeds from various cryptocurrency confidence scams.
Binance, the world’s largest cryptocurrency exchange, has aided the US Department of Justice (DOJ) in seizing over $112 million linked to cryptocurrency investment scams.
On April 3, the DOJ announced that it had taken control of six virtual currency accounts after judges in the District of Arizona, the Central District of California, and the District of Idaho authorized seizure warrants. The funds were allegedly used to launder proceeds from various cryptocurrency confidence scams.
Musk on ‘Massive Incentive’ to Get Money Out of Banks, Dave Ramsey Dismisses De-Dollarization Fears, BTC Network Congestion Eases, and More — Week in Review
Twitter CEO Elon Musk has shared what he calls a “massive incentive” to get money out of bank accounts, noting “bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big to fail.’” Personal finance coach and author Dave Ramsey, for his part, thinks that de-dollarization fears are overblown. In crypto news, Bitcoin’s network congestion issues began to ease this week. All this and more just below, in the latest Bitcoin.com News Week in Review.
Twitter CEO Elon Musk has shared what he calls a “massive incentive” to get money out of bank accounts, noting “bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big to fail.’” Personal finance coach and author Dave Ramsey, for his part, thinks that de-dollarization fears are overblown. In crypto news, Bitcoin’s network congestion issues began to ease this week. All this and more just below, in the latest Bitcoin.com News Week in Review.
Fuck memecoins, says PSYCHO. Yep, you heard that right. Here's why it got our attention:
• Provocative? Absolutely, PSYCHO ain't afraid to challenge the status quo.
• Strong community? 100%. Bunch of defiant spirits rallying behind the coin. Our kind of crowd.
Launched? May 29th
• Results so far? 750 holders, $3.5m market cap.
• CEX listing? First listing on MEXC today at 12pm UTC.
• Next CEXs? They are in contact with Bybit, Huobi, OKX
• Tokenomics? Crystal clear. 90% for DEX liquidity, 5% for CEX, 5% for the community. No BS.
DYOR, but from my side, this might be a massive pump. Don't forget to thank me later.
🧿 Rating: coinmarketcap
💰 Buy: uniswap, mexc
🐦 Follow: twitter
• Provocative? Absolutely, PSYCHO ain't afraid to challenge the status quo.
• Strong community? 100%. Bunch of defiant spirits rallying behind the coin. Our kind of crowd.
Launched? May 29th
• Results so far? 750 holders, $3.5m market cap.
• CEX listing? First listing on MEXC today at 12pm UTC.
• Next CEXs? They are in contact with Bybit, Huobi, OKX
• Tokenomics? Crystal clear. 90% for DEX liquidity, 5% for CEX, 5% for the community. No BS.
DYOR, but from my side, this might be a massive pump. Don't forget to thank me later.
🧿 Rating: coinmarketcap
💰 Buy: uniswap, mexc
🐦 Follow: twitter
Atomic Wallet Attackers Funnel Part Of $35 Million Loot Through Sanctioned Garantex Exchange
Summary:
The hackers suspected to be North Korea’s Lazarus group moved stolen funds from Atomic Wallet through Garantex, Elliptic reported.Atomic Wallet was hacked of several cryptos including BTC, ETH, USDT, DOGE, LTC, BNB, and MATIC to the tune of $35 million.Lazarus hackers swapped a portion of the stolen funds to BTC using 1inch and Garantex before laundering the assets through crypto tumbler Sinbad.The hackers behind this month’s $35 million attack on crypto wallet Atomic Wallet moved some of the stolen funds to Garantex, a crypto exchange sanctioned by the Office of Foreign Assets Control (OFAC).
Atomic Wallet Hacked, $35 Million In Bitcoin And Cryptos StolenOn June 3, hackers believed to be part of the notorious North Korean cyberterrorist group Lazarus stole several crypto assets from Atomic Wallet. The stolen assets including Bitcoin (BTC), Ether (ETH), Tether (USDT), BNB, Dogecoin (DOGE), Litecoin (LTC), and Polygon (MATIC) were worth around $35 million.
The wallet provider said the attack affected less than 1% of its monthly active users and investigations were ongoing to identify the exploit vector.
Summary:
The hackers suspected to be North Korea’s Lazarus group moved stolen funds from Atomic Wallet through Garantex, Elliptic reported.Atomic Wallet was hacked of several cryptos including BTC, ETH, USDT, DOGE, LTC, BNB, and MATIC to the tune of $35 million.Lazarus hackers swapped a portion of the stolen funds to BTC using 1inch and Garantex before laundering the assets through crypto tumbler Sinbad.The hackers behind this month’s $35 million attack on crypto wallet Atomic Wallet moved some of the stolen funds to Garantex, a crypto exchange sanctioned by the Office of Foreign Assets Control (OFAC).
Atomic Wallet Hacked, $35 Million In Bitcoin And Cryptos StolenOn June 3, hackers believed to be part of the notorious North Korean cyberterrorist group Lazarus stole several crypto assets from Atomic Wallet. The stolen assets including Bitcoin (BTC), Ether (ETH), Tether (USDT), BNB, Dogecoin (DOGE), Litecoin (LTC), and Polygon (MATIC) were worth around $35 million.
The wallet provider said the attack affected less than 1% of its monthly active users and investigations were ongoing to identify the exploit vector.
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Binance Announces Full Integration of Bitcoin On The Lightning Network
Cryptocurrency exchange Binance announced today, June 17th, the integration of the Bitcoin Lightning Network, and it is now open to customers to use the Lightning Network to deposit and withdraw Bitcoin (BTC).
#Binance has completed the integration of Bitcoin ( #BTC ) on the Lightning Network and deposits and withdrawals are now open. More details here https://t.co/aIofPdtAGY
Cryptocurrency exchange Binance announced today, June 17th, the integration of the Bitcoin Lightning Network, and it is now open to customers to use the Lightning Network to deposit and withdraw Bitcoin (BTC).
#Binance has completed the integration of Bitcoin ( #BTC ) on the Lightning Network and deposits and withdrawals are now open. More details here https://t.co/aIofPdtAGY
The owner of this channel has been inactive for the last 11 months. If they remain inactive for the next 9 days, they may lose their account and admin rights in this channel. The contents of the channel will remain accessible for all users.
Farmington Bank Faces Fed Wrath: Alameda-Backed Financial Institution Ordered to Shutdown
In a statement released August 17, 2023, Farmington State Bank, with an investment from Sam Bankman-Fried’s Alameda Research, consented to a cease and desist order from the U.S. Federal Reserve. Alameda invested $11.5 million into the bank’s coffers in January 2022. Government seizure documents from January 2023 indicate Bankman-Fried reportedly had $50 million stashed in the bank.
Fed Puts Brakes on Alameda-Funded Farmington: Another Bank Bites the DustFarmington State Bank (Moonstone Bank) is complying with the U.S. central bank’s cease and desist order signed July 18, 2023. The Federal Reserve Board and Washington State Department of Financial Institutions (WDFI) issued the order against Farmington State Bank of Farmington, Washington, and its holding company, FBH Corporation of Baltimore, Maryland.
The regulators determined Farmington violated commitments to regulators by engaging in digital asset activities, such as stablecoin issuance, without necessary approvals. Farmington allegedly agreed to build infrastructure to facilitate a third-party’s stablecoin issuance in exchange for fees, began implementation and altered its business model without regulatory approval.
In a statement released August 17, 2023, Farmington State Bank, with an investment from Sam Bankman-Fried’s Alameda Research, consented to a cease and desist order from the U.S. Federal Reserve. Alameda invested $11.5 million into the bank’s coffers in January 2022. Government seizure documents from January 2023 indicate Bankman-Fried reportedly had $50 million stashed in the bank.
Fed Puts Brakes on Alameda-Funded Farmington: Another Bank Bites the DustFarmington State Bank (Moonstone Bank) is complying with the U.S. central bank’s cease and desist order signed July 18, 2023. The Federal Reserve Board and Washington State Department of Financial Institutions (WDFI) issued the order against Farmington State Bank of Farmington, Washington, and its holding company, FBH Corporation of Baltimore, Maryland.
The regulators determined Farmington violated commitments to regulators by engaging in digital asset activities, such as stablecoin issuance, without necessary approvals. Farmington allegedly agreed to build infrastructure to facilitate a third-party’s stablecoin issuance in exchange for fees, began implementation and altered its business model without regulatory approval.
Global Monetary System and CBDCs Must Evolve Amid Demand for Digital Forms of Cash: Banking Titan Agustín Carstens
The head of the Bank for International Settlements (BIS) says the global monetary system is evolving, and work must be done to ensure central banking digital currencies (CBDCs) are ready for mass adoption.
In a new speech, Agustín Carstens says it’s the responsibility of central banks to create a strong legal framework for CBDCs that ensures legitimacy, privacy, integrity and choice for users.
The head of the Bank for International Settlements (BIS) says the global monetary system is evolving, and work must be done to ensure central banking digital currencies (CBDCs) are ready for mass adoption.
In a new speech, Agustín Carstens says it’s the responsibility of central banks to create a strong legal framework for CBDCs that ensures legitimacy, privacy, integrity and choice for users.
Former Justice Department Prosecutor Says Sam Bankman-Fried Will Likely Receive 25-Year Sentence: Report
A former prosecutor with the U.S. Justice Department’s Securities and Commodities Fraud Section reportedly says that Sam Bankman-Fried may only receive about 25 years in prison.
On November 2nd, a jury of 12 found Bankman-Fried guilty of seven criminal charges related to the collapse of the FTX crypto exchange, including wire fraud, conspiracy to commit wire fraud and conspiracy to commit money laundering.
A former prosecutor with the U.S. Justice Department’s Securities and Commodities Fraud Section reportedly says that Sam Bankman-Fried may only receive about 25 years in prison.
On November 2nd, a jury of 12 found Bankman-Fried guilty of seven criminal charges related to the collapse of the FTX crypto exchange, including wire fraud, conspiracy to commit wire fraud and conspiracy to commit money laundering.
Anthony Pompliano Says Bitcoin Bull Market Has Begun With Major Frontrunning of Fed Rate Cuts and ETF Approval
Pomp Investments founder Anthony Pompliano says that the Bitcoin (BTC) bull market is now underway as the crypto king reclaims the $43,00 level.
In a new interview with CNBC Television, Pompliano says that Bitcoin is following a historic four-year price pattern related to halving events when miners’ rewards are cut in half.
Pomp Investments founder Anthony Pompliano says that the Bitcoin (BTC) bull market is now underway as the crypto king reclaims the $43,00 level.
In a new interview with CNBC Television, Pompliano says that Bitcoin is following a historic four-year price pattern related to halving events when miners’ rewards are cut in half.
Monak E-Services triumphs at the Regional Finals of Fintech World Cup in Riyadh
11 shortlisted fintech start-ups participated in the third regional finals of the Fintech World Cup organized by Dubai Fintech Summit in collaboration with Trescon at the DATE Fintech Show, co-located with DATE AI Show in Saudi Arabia, vying for a chance to pitch at the grand finale and secure up to $1 million in funding.
Riyadh, Saudi Arabia, December 15, 2023 — The eagerly anticipated pitch competition witnessed Monak E-Services emerge victorious among the shortlist of start-ups, showcasing the innovative ecosystem thriving within Saudi Arabia’s tech landscape.
11 shortlisted fintech start-ups participated in the third regional finals of the Fintech World Cup organized by Dubai Fintech Summit in collaboration with Trescon at the DATE Fintech Show, co-located with DATE AI Show in Saudi Arabia, vying for a chance to pitch at the grand finale and secure up to $1 million in funding.
Riyadh, Saudi Arabia, December 15, 2023 — The eagerly anticipated pitch competition witnessed Monak E-Services emerge victorious among the shortlist of start-ups, showcasing the innovative ecosystem thriving within Saudi Arabia’s tech landscape.
EarnBet.io ‘s Rebranding Journey: Unveiling the Future of Online Casino Gaming
In 2017, EarnBet.io launched a world-class online betting platform with blockchain-based innovations to provide players with a more streamlined way to play and win, guaranteeing fairness, and transparency. The platform delivered an exquisite, online casino environment that rewarded players in a never-before-seen way.
Impressively, the site has processed over $1 billion in bets since launch, transferred millions of dollars worth of rewards and cashback to its users and token holders, launched several exclusive in-house games, and designed an avant-garde wallet system that makes it a breeze to deposit and withdraw top cryptocurrencies.
In 2017, EarnBet.io launched a world-class online betting platform with blockchain-based innovations to provide players with a more streamlined way to play and win, guaranteeing fairness, and transparency. The platform delivered an exquisite, online casino environment that rewarded players in a never-before-seen way.
Impressively, the site has processed over $1 billion in bets since launch, transferred millions of dollars worth of rewards and cashback to its users and token holders, launched several exclusive in-house games, and designed an avant-garde wallet system that makes it a breeze to deposit and withdraw top cryptocurrencies.
9 Bitcoin ETFs Break All-Time Volume Record With $2,400,000,000 Trading Turnover: Bloomberg Analyst
The nine newly created spot Bitcoin (BTC) exchange-traded funds (ETF) broke their all-time volume record on Monday, according to Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence.
Balchunas notes the ETFs registered $2.4 billion in volume on Monday, topping their big first day and doubling the recent daily average.
The nine newly created spot Bitcoin (BTC) exchange-traded funds (ETF) broke their all-time volume record on Monday, according to Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence.
Balchunas notes the ETFs registered $2.4 billion in volume on Monday, topping their big first day and doubling the recent daily average.
Charles Hoskinson Slams Poll As Engineered, Claims Cardano (ADA) Always Wins In Fair Vote
The recent poll results for the “Blockchain Life Awards 2024” have sparked a wave of reactions from the Cardano community, including a scathing critique from Charles Hoskinson, founder of Cardano (ADA).
The poll garnered significant attention and pitted Cardano against other prominent crypto projects like Ethereum, Solana, and BNB Smart Chain. Despite Cardano’s second-place finish in the category of “Layer-1 Solution of the Year”, many within the community expressed dissatisfaction with the results.
The recent poll results for the “Blockchain Life Awards 2024” have sparked a wave of reactions from the Cardano community, including a scathing critique from Charles Hoskinson, founder of Cardano (ADA).
The poll garnered significant attention and pitted Cardano against other prominent crypto projects like Ethereum, Solana, and BNB Smart Chain. Despite Cardano’s second-place finish in the category of “Layer-1 Solution of the Year”, many within the community expressed dissatisfaction with the results.