crypto blog
The Giving Block launches crypto donation service for high-net worth individuals
The Giving Block, an online platform which allows nonprofit organizations and charities to accept digital asset donations, has launched a service tailored to donors wishing to send large amounts of crypto. In a Wednesday announcement, the Giving Block said it partnered with crypto tax startup Taxbit, New York-based accounting firm Friedman LLP, and Ren to start a service aimed at individuals, institutions, and advisors looking to reduce their tax exposure when donating crypto. Giving Block co-founder Pat Duffy said the Private Client Services streamlines its existing donation process allowing “high-value donors to quickly and securely give large gifts to their favorite charities while reducing their tax bill.” According to the platform, individuals wishing to make large donations in crypto...
Beijing court rejects monetary compensation in Bitcoin mining contract plea
A district court in Beijing has rejected monetary compensation in a Bitcoin (BTC) mining contract plea against a blockchain company. The Chaoyang District People’s Court on Wednesday deemed the Bitcoin mining contract between the plaintiff and the blockchain firm “invalid,” the South China Morning Post reported on Dec. 16. The plaintiff in the case reportedly paid 10 million yuan ($1.6 million) to the blockchain firm for deployment of mining machines, but incurred losses on his investment. The Beiijng based plaintiff claimed he earned only 18.5 Bitcoin on his investment and demanded an additional 217.17 BTC in compensation for his losses. The court rejected the plea and also directed the Sichuan branch of the National Development and Reform Commission to look into any illegal mining going ...
Analyst lists 21 factors calling for Bitcoin price upside — But just 4 bearish signals
Bitcoin (BTC) traders may be experiencing some “extreme panic,” but one analyst argues that practically all the technical metrics point to price upside. Speaking to Cointelegraph on Dec. 16, filbfilb, co-founder of trading platform Decentrader, listed more than 20 signs that bullish momentum should be next for Bitcoin. “Enough there” for Bitcoin upside breakout BTC/USD gained with equities late Wednesday thanks to comments on policy from the United States Federal Reserve. Reaching $49,300, the pair then began to consolidate below the $49,000 mark, a point at which it remains at the time of writing. Crypto Fear & Greed Index. Source: Alternative.me Sentiment, however, has yet to show any faith in the short-term future of BTC price action, with the Crypto Fear &am...
ECOMI, Aragon and Ramp breakout after Bitcoin price pushes above $49K
Cryptocurrency prices and investor sentiment reversed course on Dec. 15 after Federal Reserve chairman Jerome Powell confirmed the bank’s plan to hike interest rates in 2022 and slow down the bond purchasing program that had been in play since the emergence of the coronavirus in March 2020. Following the announcement, Bitcoin (BTC) price tacked on a 1.65% gain, bringing the price above $49,000 and Ether trekked back above the $4,000 mark. Altcoins followed suit with their usual double-digit gains and for the moment, it appears as if bulls have taken back control of the market. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were ECOMI (OM...
Markets rally after FOMC meeting, but Bitcoin bears still have a short-term advantage
Bitcoin’s (BTC) price has been in a down-trend since the $69,000 all-time high on Nov. 10, when the the Labor report showed inflation pushing above 6.2% in the United States. While this news could be beneficial for non-inflationary assets, the VanEck physical Bitcoin exchange-traded fund (ETF) denial by the U.S. Securities and Exchange Commission (SEC) on Nov. 12 threw some investors off-guard. Bitcoin/USD price on Coinbase. Source: TradingView While the ETF request denial was generally expected, the reasons given by the regulator may be worrisome for some investors. The U.S. SEC cited the inability to avoid market manipulation on the broader Bitcoin market due to unregulated exchanges and heavy trading volume based on Tether’s (USDT) stablecoin. Analyzing the broader market st...
Six senators urge Treasury Secretary to clarify definition of broker in infrastructure law before 2022
A bipartisan group of U.S. senators have called on Treasury Secretary Janet Yellen to clarify the language in the infrastructure bill signed into law by President Joe Biden around the tax reporting requirements on crypto. In a Tuesday letter, Senators Rob Portman, Mike Crapo, Pat Toomey, Mark Warner, Kyrsten Sinema, and Cynthia Lummis urged Yellen to “provide information or informal guidance” on the definition of “broker” in the recently passed infrastructure law, HR 3684. Under the current wording, people in the crypto space including miners, software developers, transaction validators and node operators are required to report most digital asset transactions worth more than $10,000 to the Internal Revenue Service, or IRS. However, according to the U.S. lawmakers, the law contains an ...
Voyager Digital will be crypto brokerage partner for National Women’s Soccer League
Crypto trading platform Voyager Digital has inked a deal with the National Women’s Soccer League, or NWSL, aiming to provide players crypto education and financial support. In a Tuesday announcement, Voyager said it would become the league’s first cryptocurrency brokerage partner as part of a multi-year deal. The trading platform said a “significant amount” of the investment would fund rostered players’ crypto accounts. There are expected to be 12 teams in the NWSL starting in 2022, so up to 312 players could benefit from the Voyager partnership. “Voyager’s investment in the league is especially innovative because we’ve collectively designed the partnership to include direct financial resources for every one of our players, as well as education on the revolutionary ...
The best metaverse tokens you should buy on December 15: SAND, MANA, and ENJ.
SAND, MANA, and ENJ are all metaverse-related tokens that have seen similar performance historically. They are the go-to tokens when it comes to metaverse developments, as they have the most active projects. At their current price points, each token is worth taking a look at. The Sandbox is a blockchain-based virtual world where players are given the opportunity to create, build, buy or sell digital assets. SAND is its native cryptocurrency token. Decentraland is a virtual reality platform built on the Ethereum blockchain where users can create, experience, and monetize content. MANA is its native cryptocurrency token. Enjin Coin is an ecosystem of interconnected, blockchain-based worlds. ENJ is its native cryptocurrency token. Should you buy The Sandbox (SAND)? On December 15, The Sandbox...
UK advertising watchdog bans crypto ads for Coinbase and Kraken
The Advertising Standards Authority, or ASA, the United Kingdom’s independent advertising regulator, has taken down another batch of cryptocurrency-related ad campaigns promoting several major industry firms. On Dec. 15, the advertising watchdog issued several rulings on ad violations involving six crypto-related firms including Coinbase, Kraken, eToro, Exmo, crypto broker Coinburp and Luno crypto exchange. The ASA also issued a similar ruling for pizza chain Papa John’s. All seven ads or promotions were banned for “irresponsibly taking advantage of consumers inexperience and for failing to illustrate the risk of the investment,” the rulings said. The ASA argued that Coinbase’s European branch specifically put out a “misleading” promotion on its paid Facebook ad in July 2021, including a t...
Kevin Durant and Rich Kleiman’s Thirty-Five Ventures to create NFT drops with Coinbase
On Wednesday, Thirty Five Ventures, a venture capital firm co-founded by NBA star Kevin Durant and sports manager Rich Kleiman, announced a business partnership with Coinbase. Under the agreement, Thirty Five Ventures will work jointly with Coinbase to create nonfungible tokens, or NFT, drops, storytelling content about NFTs and crypto, as well as showcasing Coinbase’s recent growth in the sector. According to the announcement, there will additionally be a philanthropic integration with the Kevin Durant Charity Foundation. Coinbase is currently the third-largest centralized cryptocurrency exchange in the world by trading volume. At the time of publication, there is currently a waitlist of over 2.6 million users for Coinbase NFT. The company said it is currently designing a self-...
Gravity Bridge brings Ethereum to the multichain
On Wednesday, the Interchain Foundation, a Swiss non-profit serving as a steward of the Cosmos (ATOM) ecosystem, announced the launch of Gravity Bridge as built by decentralized internet service provider Althea. Gravity Bridge enables the transfer of ERC-20 tokens between the Ethereum (ETH) and Cosmos blockchains. During its initial stages, Gravity Bridge will operate as a standalone chain before migrating to Cosmos Hub early next year. Its key technical features include interchangeable token issuance across both chains and the support of Ethereum to Cosmos oracles. Simpier issued the following statement regarding the launch: In this interoperable ecosystem, Gravity Bridge’s place is a foundational piece of infrastructure, available to all Cosmos chains openly, purpose-built to update and ...
Rarible integrates with Tezos blockchain and launches own NFT collection
Nonfungible token (NFT) marketplace Rarible officially launched its integration with proof-of-stake blockchain Tezos on Wednesday. This collaboration will allow Rarible to feature Tezos NFTs on its marketplace and support secondary sales of live Tezos projects while enabling users to mint low-fee NFTs. Rarible’s integration with Tezos marks the third layer one blockchain supported by the platform, alongside Ethereum and Flow, Dapper Labs’ blockchain network that powers NBA Top Shot. In Rarible’s effort to build a multi-chain platform to consolidate the NFT space, integrations with Solana and Polygon are next, according to Rarible CEO Alexei Falin, who told Cointelegraph: “Rarible firmly believes that the future of NFTs is cross-chain, and that interoperability is the key to a streamlined, ...
