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🔴🚨US Treasury finalizes new crypto tax reporting rules🔴🚨
The U.S. Treasury Department finalized a rule on Friday requiring cryptocurrency brokers, including exchanges and payment processors, to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service.
The new requirements aim to crack down on crypto users who may be failing to pay their taxes, and stem from the $1 trillion bipartisan 2021 Infrastructure Investment and Jobs Act.
At the time the bill was passed, it was estimated that the new rules could bring in close to $28 billion over a decade.
The rule, which would be phased in starting next year for the 2026 tax filing season, align the tax requirements for cryptocurrencies with existing tax reporting requirements for brokers for other financial instruments, such as bonds and stocks, Treasury said.
The final rule was modified from Treasury's original proposal in order to limit some burdens on brokers and to phase in the new requirements in stages, Treasury officials said.
It also includes a $10,000 threshold for reporting on transactions involving stablecoins, a type of crypto token typically pegged to an asset like the U.S. dollar.$BTC
The U.S. Treasury Department finalized a rule on Friday requiring cryptocurrency brokers, including exchanges and payment processors, to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service.
The new requirements aim to crack down on crypto users who may be failing to pay their taxes, and stem from the $1 trillion bipartisan 2021 Infrastructure Investment and Jobs Act.
At the time the bill was passed, it was estimated that the new rules could bring in close to $28 billion over a decade.
The rule, which would be phased in starting next year for the 2026 tax filing season, align the tax requirements for cryptocurrencies with existing tax reporting requirements for brokers for other financial instruments, such as bonds and stocks, Treasury said.
The final rule was modified from Treasury's original proposal in order to limit some burdens on brokers and to phase in the new requirements in stages, Treasury officials said.
It also includes a $10,000 threshold for reporting on transactions involving stablecoins, a type of crypto token typically pegged to an asset like the U.S. dollar.$BTC
Digital Euro CBDC Preparation Phase Update Raises Privacy Concerns
On June 25, the European Central Bank (ECB) provided an update on its two-year preparatory phase for the digital Euro Central Bank Digital Currency (CBDC). This phase, scheduled to conclude in October 2025, places a strong emphasis on privacy and data protection. Nevertheless, certain aspects of the digital currency have sparked concerns regarding potential privacy infringements.
Crypto entrepreneur and investor Daniel Batten raised these concerns on June 26, suggesting that the digital Euro could facilitate increased surveillance by banks, enable deplatforming, and account freezing. Furthermore, he highlighted the ECB's plan to limit the amount of digital Euro individuals can hold, aimed not at preventing it from being a store of value but to moderate its use in that capacity. This approach ensures banks maintain their crucial role in providing efficient credit to the economy.
The digital Euro represents programmable money on a blockchain, regulated by smart contracts, which grants the ECB control over how much currency individuals can hold. The overarching goal is to phase out cash and transition all financial transactions online for easier monitoring and traceability. Batten previously indicated that the ECB, along with other banks, is working to undermine crypto and financial freedom.
Interestingly, the digital Euro includes an 'offline functionality' feature, designed to offer users a cash-like level of privacy by enabling payments without an internet connection via pre-funded accounts. However, critics argue that this still necessitates the use of the central bank’s database, thus not fully delivering on the privacy claims.
The decision to issue a Euro CBDC hinges on the completion of the European Union legislative process and the preparatory phase. Fintech entrepreneur Kim Dotcom, at the onset of this phase in October 2023, warned against the digital Euro, describing it as a 'financial surveillance and control tool.'
Europe is part of a global movement among several countries striving to eliminate cash and shift to central bank-controlled digital currencies. According to the Atlantic Council, only Nigeria, the Bahamas, and Jamaica have fully deployed a CBDC to date. Currently, 36 CBDC pilots are underway worldwide, including in Europe, China, Russia, Brazil, India, Japan, South Africa, and Australia.$BTC
Crypto entrepreneur and investor Daniel Batten raised these concerns on June 26, suggesting that the digital Euro could facilitate increased surveillance by banks, enable deplatforming, and account freezing. Furthermore, he highlighted the ECB's plan to limit the amount of digital Euro individuals can hold, aimed not at preventing it from being a store of value but to moderate its use in that capacity. This approach ensures banks maintain their crucial role in providing efficient credit to the economy.
The digital Euro represents programmable money on a blockchain, regulated by smart contracts, which grants the ECB control over how much currency individuals can hold. The overarching goal is to phase out cash and transition all financial transactions online for easier monitoring and traceability. Batten previously indicated that the ECB, along with other banks, is working to undermine crypto and financial freedom.
Interestingly, the digital Euro includes an 'offline functionality' feature, designed to offer users a cash-like level of privacy by enabling payments without an internet connection via pre-funded accounts. However, critics argue that this still necessitates the use of the central bank’s database, thus not fully delivering on the privacy claims.
The decision to issue a Euro CBDC hinges on the completion of the European Union legislative process and the preparatory phase. Fintech entrepreneur Kim Dotcom, at the onset of this phase in October 2023, warned against the digital Euro, describing it as a 'financial surveillance and control tool.'
Europe is part of a global movement among several countries striving to eliminate cash and shift to central bank-controlled digital currencies. According to the Atlantic Council, only Nigeria, the Bahamas, and Jamaica have fully deployed a CBDC to date. Currently, 36 CBDC pilots are underway worldwide, including in Europe, China, Russia, Brazil, India, Japan, South Africa, and Australia.$BTC
Binance must face bulk of US SEC crypto lawsuit, judge rules
The decision by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia deals a blow to Binance, which had asked the court to toss the SEC's lawsuit that alleges Binance and its founder and former CEO Changpeng Zhao broke securities laws.
The SEC's suit filed against Binance in June 2023 accused the exchange and Zhao of artificially inflating its trading volumes, diverting customer funds, failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls.
The regulator also accused Binance of unlawfully facilitating trading of several crypto tokens the SEC deemed unregistered securities.
The ruling adds to the exchange's woes after Binance agreed in November to pay $4.3 billion to settle with the Department of Justice and the Commodity Futures Trading Commission over illicit finance breaches.
Still, Friday’s ruling marks a partial victory for the broader cryptocurrency sector as she sided with a previous judge in saying that the SEC had not made its case that secondary sales of Binance’s tokens – sold by sellers other than Binance on exchanges- were not securities.$BTC
$BTC
The decision by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia deals a blow to Binance, which had asked the court to toss the SEC's lawsuit that alleges Binance and its founder and former CEO Changpeng Zhao broke securities laws.
The SEC's suit filed against Binance in June 2023 accused the exchange and Zhao of artificially inflating its trading volumes, diverting customer funds, failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls.
The regulator also accused Binance of unlawfully facilitating trading of several crypto tokens the SEC deemed unregistered securities.
The ruling adds to the exchange's woes after Binance agreed in November to pay $4.3 billion to settle with the Department of Justice and the Commodity Futures Trading Commission over illicit finance breaches.
Still, Friday’s ruling marks a partial victory for the broader cryptocurrency sector as she sided with a previous judge in saying that the SEC had not made its case that secondary sales of Binance’s tokens – sold by sellers other than Binance on exchanges- were not securities.$BTC
$BTC
US Treasury finalizes crypto rules to prevent tax evasion
Crypto platforms will have to start reporting traders' sales proceeds to the IRS.
While people who own and sell cryptocurrency have always had to pay taxes on their earnings, a new rule finalized by the US Treasury Department can ensure that they're paying the proper amount on their sales. The new rule will require cryptocurrency platforms like exchanges and payment processors to report their users' transactions to the Internal Revenue Service. According to The Wall Street Journal, authorities are hoping that the measure can deter tax evasion, seeing as the IRS would know exactly how much a taxpayer owes.
At the same time, the rule will make it much easier for people for declare their earnings because their brokers will now have to provide them with a 1099 form. The IRS released a draft form of 1099-DA (Digital Asset Proceeds From Broker Transaction) made especially to track crypto transactions last year and will make the final version available soon. To note, the rule sets a threshold of $10,000 to report on transactions involving stablecoin, which are cryptocurrencies that track fiat money like the US dollar.
"[I]nvestors in digital assets and the IRS will have better access to the documentation they need to easily file and review tax returns,” Aviva Aron-Dine, the Treasury’s acting assistant secretary for tax policy, said in a statement. “By implementing the law’s reporting requirements, these final regulations will help taxpayers more easily pay taxes owed under current law, while reducing tax evasion by wealthy investors.”
The new rule will only apply to platforms that take possession of digital assets, such as Coinbase or Binance. It doesn't cover decentralized ones, which will have to comply with a separate rule that's expected to be finalized later this year. Brokers will have to start reporting sales proceeds on digital assets in 2026 for all transactions accomplished in 2025, which means crypto traders are still on their own for 2024.
$BTC
$BTC
While people who own and sell cryptocurrency have always had to pay taxes on their earnings, a new rule finalized by the US Treasury Department can ensure that they're paying the proper amount on their sales. The new rule will require cryptocurrency platforms like exchanges and payment processors to report their users' transactions to the Internal Revenue Service. According to The Wall Street Journal, authorities are hoping that the measure can deter tax evasion, seeing as the IRS would know exactly how much a taxpayer owes.
At the same time, the rule will make it much easier for people for declare their earnings because their brokers will now have to provide them with a 1099 form. The IRS released a draft form of 1099-DA (Digital Asset Proceeds From Broker Transaction) made especially to track crypto transactions last year and will make the final version available soon. To note, the rule sets a threshold of $10,000 to report on transactions involving stablecoin, which are cryptocurrencies that track fiat money like the US dollar.
"[I]nvestors in digital assets and the IRS will have better access to the documentation they need to easily file and review tax returns,” Aviva Aron-Dine, the Treasury’s acting assistant secretary for tax policy, said in a statement. “By implementing the law’s reporting requirements, these final regulations will help taxpayers more easily pay taxes owed under current law, while reducing tax evasion by wealthy investors.”
The new rule will only apply to platforms that take possession of digital assets, such as Coinbase or Binance. It doesn't cover decentralized ones, which will have to comply with a separate rule that's expected to be finalized later this year. Brokers will have to start reporting sales proceeds on digital assets in 2026 for all transactions accomplished in 2025, which means crypto traders are still on their own for 2024.
$BTC
$BTC
IRS finalizes new regulations for crypto tax reporting
Crypto platforms will need to report transactions to the Internal Revenue Service, starting in 2026. However, decentralized platforms that don’t hold assets themselves will be exempt.🚀
Those are the main takeaways from new regulations that the IRS and U.S. Department of Treasury finalized Friday — essentially implementing a provision of the Biden Administration’s Infrastructure Investment and Jobs Act, which was passed in 2021.
Gains from selling crypto and other digital assets are taxable even without these new regulations; however, there was no real standardization around how those holdings were reported to the government and to individual investors. Beginning in 2026 (covering transactions in 2025), crypto platforms must provide a standard 1099 form, similar to the ones sent by banks and traditional brokerages.
Beyond making it simpler to pay taxes on crypto, the IRS also said it’s trying to crack down on tax evasion.
“We need to make sure digital assets are not used to hide taxable income, and these final regulations will improve detection of noncompliance in the high-risk space of digital assets,” said IRS Commissioner Danny Werfel in a statement.
But again, these regulations apply to “custodial” platforms (such as Coinbase) that actually take possession of customer assets. After lobbying from the crypto industry, decentralized brokers that don’t take possession are excluded from these rules.
In fact, the Blockchain Association (an industry lobbying group) called the exclusion “a testament to the incredibly powerful voice of our industry and community.”
The Treasury Department and IRS said they will cover these decentralized brokers in a separate set of regulations.#CryptoDawar #Crypto_Jobs🎯 #BinanceSquareFamily #BinanceTournament
$BTC
$BTC
Those are the main takeaways from new regulations that the IRS and U.S. Department of Treasury finalized Friday — essentially implementing a provision of the Biden Administration’s Infrastructure Investment and Jobs Act, which was passed in 2021.
Gains from selling crypto and other digital assets are taxable even without these new regulations; however, there was no real standardization around how those holdings were reported to the government and to individual investors. Beginning in 2026 (covering transactions in 2025), crypto platforms must provide a standard 1099 form, similar to the ones sent by banks and traditional brokerages.
Beyond making it simpler to pay taxes on crypto, the IRS also said it’s trying to crack down on tax evasion.
“We need to make sure digital assets are not used to hide taxable income, and these final regulations will improve detection of noncompliance in the high-risk space of digital assets,” said IRS Commissioner Danny Werfel in a statement.
But again, these regulations apply to “custodial” platforms (such as Coinbase) that actually take possession of customer assets. After lobbying from the crypto industry, decentralized brokers that don’t take possession are excluded from these rules.
In fact, the Blockchain Association (an industry lobbying group) called the exclusion “a testament to the incredibly powerful voice of our industry and community.”
The Treasury Department and IRS said they will cover these decentralized brokers in a separate set of regulations.#CryptoDawar #Crypto_Jobs🎯 #BinanceSquareFamily #BinanceTournament
$BTC
$BTC
Crypto Price Analysis June-29: ETH, XRP, ADA, DOGE, and DOT
This week, we take a closer look at Ethereum, Ripple, Cardano, Dogecoin, and Polkadot.
Ethereum (ETH)
Ethereum fell by 3% this week, and buyers appear to struggle to defend the key support at $3,500. So far, they have managed to prevent a breakdown. If sellers maintain the pressure, ETH could have a difficult week ahead.
The past five weekly candles closed with a lower low. This puts the second-largest cryptocurrency in a clear downtrend. To reverse this, ETH has to move above $3,700. That would also open the way to challenge the key resistance at $4,000.
$BTC $BTC
Ethereum (ETH)
Ethereum fell by 3% this week, and buyers appear to struggle to defend the key support at $3,500. So far, they have managed to prevent a breakdown. If sellers maintain the pressure, ETH could have a difficult week ahead.
The past five weekly candles closed with a lower low. This puts the second-largest cryptocurrency in a clear downtrend. To reverse this, ETH has to move above $3,700. That would also open the way to challenge the key resistance at $4,000.
$BTC $BTC
Bitcoin (BTC) Price Analysis – Daily Updates
🔴🚨Bitcoin (BTC) Price Analysis🔴🚨
Bitcoin’s price is experiencing a downtrend at the moment, as it has failed to continue its rally above $70K. This begs the question if the bull.
How to read Bitcoin charts?
Bitcoin charts usually present the progress of the price using Japanese candlesticks. Each candle represents a specific time-frame (depends on the chart) and is showing the open, close, and price range during that time-frame. On top of that, the chart usually contains a variety of technical analysis indicators. The most popular are support and resistance levels, trend-lines, Relative Strength Index (RSI), Fibonacci retracement levels.
What affects the price of Bitcoin?
Just like any other traded asset, the Bitcoin price is affected by supply and demand, as simple as that. However, the occurrence of certain global fundamental events could have a relation to the value of Bitcoin: During the year of 2016, for example, India's banknote demonetization had a positive effect on Bitcoin. In India, the price of the cryptocurrency was trading 20% higher than the rest of the world. If we go to recent years, the 2019 bull-run could be related to Facebook announcing on the Libra project. The bull-run started losing momentum as news regarding Libra's regulation's hardness started popping on the news. Besides the major global events, there are some Bitcoin heavy-bag holders, which are also known as Bitcoin Whales. They are holding thousands of BTC's, and that is enough to create large enough daily price maneuvers.$BTC
$BTC
Bitcoin’s price is experiencing a downtrend at the moment, as it has failed to continue its rally above $70K. This begs the question if the bull.
How to read Bitcoin charts?
Bitcoin charts usually present the progress of the price using Japanese candlesticks. Each candle represents a specific time-frame (depends on the chart) and is showing the open, close, and price range during that time-frame. On top of that, the chart usually contains a variety of technical analysis indicators. The most popular are support and resistance levels, trend-lines, Relative Strength Index (RSI), Fibonacci retracement levels.
What affects the price of Bitcoin?
Just like any other traded asset, the Bitcoin price is affected by supply and demand, as simple as that. However, the occurrence of certain global fundamental events could have a relation to the value of Bitcoin: During the year of 2016, for example, India's banknote demonetization had a positive effect on Bitcoin. In India, the price of the cryptocurrency was trading 20% higher than the rest of the world. If we go to recent years, the 2019 bull-run could be related to Facebook announcing on the Libra project. The bull-run started losing momentum as news regarding Libra's regulation's hardness started popping on the news. Besides the major global events, there are some Bitcoin heavy-bag holders, which are also known as Bitcoin Whales. They are holding thousands of BTC's, and that is enough to create large enough daily price maneuvers.$BTC
$BTC
FIU imposes Rs 18.82 crore penalty on crypto exchange Binance
🔴🚨FIU imposes Rs 18.82 crore penalty on crypto exchange Binance🔴🚨
Global cryptocurrency exchange Binance has been fined Rs 18.82 crore, the highest ever on any crypto entity by the Financial Intelligence Unit of India (FIU-IND) for non-compliance to anti-money laundering laws.
Back in December 2023, the intelligence unit of the Finance Ministry, which is tasked with oversight of trade in virtual digital assets (VDA), had issued a show cause notice to Binance and eight other global exchanges for their operations in India without compliance with applicable laws.$BTC
$USDC
Global cryptocurrency exchange Binance has been fined Rs 18.82 crore, the highest ever on any crypto entity by the Financial Intelligence Unit of India (FIU-IND) for non-compliance to anti-money laundering laws.
Back in December 2023, the intelligence unit of the Finance Ministry, which is tasked with oversight of trade in virtual digital assets (VDA), had issued a show cause notice to Binance and eight other global exchanges for their operations in India without compliance with applicable laws.$BTC
$USDC
U.S. Treasury Issues Crypto Tax Regime For 2025, Delays Rules for Non-Custodians (Policy)
🔴🚨U.S. Treasury Issues Crypto Tax Regime For 2025🔴🚨
The IRS has now set up its reporting system for crypto brokers, but it set aside related rules for DeFi and unhosted wallets as it continues to study 44,000 comments to the agency.
The U.S. Department of the Treasury's Internal Revenue Service will require crypto brokers to file 1099 forms like their traditional investment-firm cousins, but decentralized finance (DeFi) operations and non-hosted wallet providers will have to wait for their own rule later in the year.The rule released Friday will go into effect for transactions starting in 2025 and will require brokers to keep tabs on cost basis for customers' tokens starting in 2026.The IRS won't call for reporting on most routine stablecoin sales and is putting a $600 annual threshold on NFT proceeds before they need to be reported.
$BTC
The IRS has now set up its reporting system for crypto brokers, but it set aside related rules for DeFi and unhosted wallets as it continues to study 44,000 comments to the agency.
The U.S. Department of the Treasury's Internal Revenue Service will require crypto brokers to file 1099 forms like their traditional investment-firm cousins, but decentralized finance (DeFi) operations and non-hosted wallet providers will have to wait for their own rule later in the year.The rule released Friday will go into effect for transactions starting in 2025 and will require brokers to keep tabs on cost basis for customers' tokens starting in 2026.The IRS won't call for reporting on most routine stablecoin sales and is putting a $600 annual threshold on NFT proceeds before they need to be reported.
$BTC
Bitcoin Mining Firm CleanSpark Acquires GRIID in $155M Stock Deal
Bitcoin miner CleanSpark Inc. has officially entered into a merger agreement with GRIID Infrastructure Inc., acquiring GRIID in an all-stock transaction valued at $155 million.
The merger is expected to improve CleanSpark’s capabilities through an exclusive hosting agreement available through GRIID.
As part of the agreement, 20 megawatts will be allocated to CleanSpark immediately, increasing its operational capacity. GRIID operates an R&D centre in Texas and an equipment repair centre in Tennessee.
The deal is expected to close in the third quarter of 2024, said CleanSpark in a statement.
“This acquisition would give us a clear and steady path over the next three years to accomplish in Tennessee what we proudly achieved in Georgia over the past three years,” said Zach Bradford, CleanSpark’s CEO.
“That achievement was to build out over 400 MW of infrastructure backed by valuable, long-term power contracts,” adds Bradford.
CleanSpark Acquires Mining Facilities in Georgia
CleanSpark has been busy making multiple acquisitions this year. Earlier this month, CleanSpark acquired five new turnkey Bitcoin mining facilities in rural Georgia. The $25.8 million cash deal will enhance CleanSpark’s infrastructure, adding 60 megawatts of capacity and increasing the company’s operating hash rate.
CleanSpark also announced a major infrastructure deal to capitalize on Bitcoin’s rising prices: it purchased 60,000 Bitmain S21 miners for $193.2 million at the start of the year.
In February, CleanSpark also announced the acquisition of four new mining facilities—three in Mississippi and one in Dalton, Georgia.
In its latest merger agreement by integrating GRIID’s assets, CleanSpark aims to scale its operations and improve efficiency, a critical factor in the ever-evolving and highly competitive bitcoin mining industry.
The hosting agreement is effective immediately and gives CleanSpark the necessary infrastructure to support its expanded operations, highlighting the importance of reliable and scalable energy solutions in crypto mining.
The merger occurs against a backdrop of dynamic shifts in the Bitcoin landscape. In 2024, the crypto sector has continued to gain momentum and attract investment from the broader financial community.
As the crypto industry continues to mature, similar mergers and consolidations are likely to become more common, driven by the need for enhanced operational efficiency and competitive advantage.$BTC $BTC
The merger is expected to improve CleanSpark’s capabilities through an exclusive hosting agreement available through GRIID.
As part of the agreement, 20 megawatts will be allocated to CleanSpark immediately, increasing its operational capacity. GRIID operates an R&D centre in Texas and an equipment repair centre in Tennessee.
The deal is expected to close in the third quarter of 2024, said CleanSpark in a statement.
“This acquisition would give us a clear and steady path over the next three years to accomplish in Tennessee what we proudly achieved in Georgia over the past three years,” said Zach Bradford, CleanSpark’s CEO.
“That achievement was to build out over 400 MW of infrastructure backed by valuable, long-term power contracts,” adds Bradford.
CleanSpark Acquires Mining Facilities in Georgia
CleanSpark has been busy making multiple acquisitions this year. Earlier this month, CleanSpark acquired five new turnkey Bitcoin mining facilities in rural Georgia. The $25.8 million cash deal will enhance CleanSpark’s infrastructure, adding 60 megawatts of capacity and increasing the company’s operating hash rate.
CleanSpark also announced a major infrastructure deal to capitalize on Bitcoin’s rising prices: it purchased 60,000 Bitmain S21 miners for $193.2 million at the start of the year.
In February, CleanSpark also announced the acquisition of four new mining facilities—three in Mississippi and one in Dalton, Georgia.
In its latest merger agreement by integrating GRIID’s assets, CleanSpark aims to scale its operations and improve efficiency, a critical factor in the ever-evolving and highly competitive bitcoin mining industry.
The hosting agreement is effective immediately and gives CleanSpark the necessary infrastructure to support its expanded operations, highlighting the importance of reliable and scalable energy solutions in crypto mining.
The merger occurs against a backdrop of dynamic shifts in the Bitcoin landscape. In 2024, the crypto sector has continued to gain momentum and attract investment from the broader financial community.
As the crypto industry continues to mature, similar mergers and consolidations are likely to become more common, driven by the need for enhanced operational efficiency and competitive advantage.$BTC $BTC
Bitcoin Proxy MicroStrategy May Soon Have Price Swings Magnified by Spicy ETFs
The proposal of leveraged ETFs yielding 2x exposure to MicroStrategy's stock price had one analyst comparing them to extremely hot peppers.
Investors seeking leveraged exposure to Bitcoin’s price may be in store for some spicy TradFi products, following the T-Rex Group’s filing for several MicroStrategy ETFs on Thursday.
The issuer of leveraged funds for tech giants like Tesla and Nvidia signaled that the Bitcoin-hungry software firm is next up on its plate. T-Rex submitted applications for two ETFs—one that would deliver 2x long performance on MicroStrategy’s stock—alongside a correlating inverse option, according to filings with the U.S. Securities and Exchange Commission (SEC).
The spiciness associated with digital assets may already be too hot to handle for some. And according to Bloomberg ETF analyst Eric Balchunas, T-Rex’s proposed ETFs are positioned toward the particularly pungent end of the scoville scale, used to measure the strength of chilis.
“These are a near-lock to be most volatile ETFs ever seen in the U.S.,” he wrote on Twitter (aka X), describing the set of products as “the ghost pepper of ETF hot sauce.”
$BTC
$USDC
Investors seeking leveraged exposure to Bitcoin’s price may be in store for some spicy TradFi products, following the T-Rex Group’s filing for several MicroStrategy ETFs on Thursday.
The issuer of leveraged funds for tech giants like Tesla and Nvidia signaled that the Bitcoin-hungry software firm is next up on its plate. T-Rex submitted applications for two ETFs—one that would deliver 2x long performance on MicroStrategy’s stock—alongside a correlating inverse option, according to filings with the U.S. Securities and Exchange Commission (SEC).
The spiciness associated with digital assets may already be too hot to handle for some. And according to Bloomberg ETF analyst Eric Balchunas, T-Rex’s proposed ETFs are positioned toward the particularly pungent end of the scoville scale, used to measure the strength of chilis.
“These are a near-lock to be most volatile ETFs ever seen in the U.S.,” he wrote on Twitter (aka X), describing the set of products as “the ghost pepper of ETF hot sauce.”
$BTC
$USDC
Bitcoin (BTC) Crypto News Today
Bitcoin (BTC) was invented by a pseudonymous individual or group named Satoshi Nakamoto in 2008 and is the world’s first enduring cryptocurrency that succeeded where decades of digital cash experiments failed.
Bitcoin’s monetary policy is enforced through a unique blend of software, cryptography and financial incentives rather than the whim of trusted third parties. The Bitcoin network is powered by a cryptographically secure, verifiable database called the blockchain — itself a technological phenomenon.
The Bitcoin ecosystem consists of a global network of stakeholders, including the miners that secure the network and drive the issuance of the Bitcoin currency, the traders who speculate on this radically market-driven asset, and the builders working to onboard people to the cryptocurrency paradigm.
At Cointelegraph, we are chronicling the ongoing story of Bitcoin and the rise of a borderless, permissionless financial system. What has changed since Satoshi wrote the Bitcoin white paper? How is Bitcoin trading developing over the years, what are the best ways of investing in Bitcoin, and how do Bitcoin futures influence blockchain adoption? How will industry stakeholders work to make Bitcoin a mainstay in people’s lives, and will incumbent and legacy systems accept or fight this change?
Stay tuned.$BTC
Bitcoin’s monetary policy is enforced through a unique blend of software, cryptography and financial incentives rather than the whim of trusted third parties. The Bitcoin network is powered by a cryptographically secure, verifiable database called the blockchain — itself a technological phenomenon.
The Bitcoin ecosystem consists of a global network of stakeholders, including the miners that secure the network and drive the issuance of the Bitcoin currency, the traders who speculate on this radically market-driven asset, and the builders working to onboard people to the cryptocurrency paradigm.
At Cointelegraph, we are chronicling the ongoing story of Bitcoin and the rise of a borderless, permissionless financial system. What has changed since Satoshi wrote the Bitcoin white paper? How is Bitcoin trading developing over the years, what are the best ways of investing in Bitcoin, and how do Bitcoin futures influence blockchain adoption? How will industry stakeholders work to make Bitcoin a mainstay in people’s lives, and will incumbent and legacy systems accept or fight this change?
Stay tuned.$BTC
Bitcoin and altcoins fail to rally even as U.S. inflation cools down
For years analysts and traders have said cooling inflation would benefit the crypto market, yet prices are still down. Cointelegraph explains why.
Investors' risk appetite tends to increase with a lower cost of capital and higher liquidity, creating a favorable scenario for high-growth assets. Consequently, Bitcoin $BTC
and other cryptocurrencies often benefit from such conditions, as more money in circulation typically boosts demand. However, if U.S. inflation appears to be under control, why isn't the cryptocurrency market reacting positively?
Investors' risk appetite tends to increase with a lower cost of capital and higher liquidity, creating a favorable scenario for high-growth assets. Consequently, Bitcoin $BTC
and other cryptocurrencies often benefit from such conditions, as more money in circulation typically boosts demand. However, if U.S. inflation appears to be under control, why isn't the cryptocurrency market reacting positively?
BTC price support ‘thinning’ below $60K, while Bitcoin ignores cool PCE
BTC price performance offers little inspiration through the latest U.S. macro data, but concern is brewing among Bitcoin analysts over $60,000 support.$BTC
Bitcoin shrugged off United States macro data on June 28 as doubts lingered over the strength of $60,000 support.$BTC
Bitcoin Price Prediction: BTC Over $61,500 as 1M+ Wholecoiners Mark Milestone
In the latest Bitcoin price prediction, BTC has surpassed the $61,500 mark, coinciding with a milestone where over one million addresses now hold at least one full Bitcoin.🚀
This surge underscores the growing trust in Bitcoin’s value and an upward trend in its long-term investment appeal.
The expansion in the number of wholecoiners highlights Bitcoin’s ongoing potential for sustained growth amidst market fluctuations.
Bitcoin Holders Surpass 1 Million: A Milestone in Cryptocurrency Growth
The realm of cryptocurrency has recently achieved a significant milestone: the count of Bitcoin addresses possessing at least one BTC has now exceeded one million.👍
According to IntoTheBlock, a leading blockchain analytics firm, the current tally stands at 1,010,777 addresses.$SOL
$USDC
This surge underscores the growing trust in Bitcoin’s value and an upward trend in its long-term investment appeal.
The expansion in the number of wholecoiners highlights Bitcoin’s ongoing potential for sustained growth amidst market fluctuations.
Bitcoin Holders Surpass 1 Million: A Milestone in Cryptocurrency Growth
The realm of cryptocurrency has recently achieved a significant milestone: the count of Bitcoin addresses possessing at least one BTC has now exceeded one million.👍
According to IntoTheBlock, a leading blockchain analytics firm, the current tally stands at 1,010,777 addresses.$SOL
$USDC
Bitcoin Price Prediction: BTC Surge to $61.5K: Rally on Rate Cut Hopes, Trump Debate Win
Bitcoin (BTC) recently halted its losing streak and gained mild bullish traction around $61,500, reaching an intraday high of $62,150, suggesting chances of a bullish Bitcoin price prediction.
This upward trend is linked to softer US macroeconomic data, which increased speculation about an impending Federal Reserve rate-cutting cycle this year, prompting a short-covering rally in BTC prices.
Moreover, BTC gained further momentum as Donald Trump extended his lead over Joe Biden in betting markets during the June 27 presidential debate, boosting investor confidence.
However, gains in BTC may be short-lived as Bitcoin ETF outflows hit $1.3 billion, indicating reduced investor interest and potential downward pressure on prices.
US Economic Indicators and Fed Signals on Bitcoin
On the US front, softer macroeconomic data released on Thursday fueled expectations for the Federal Reserve to begin cutting interest rates this year. This speculation sparked a rally in Bitcoin prices as investors covered short positions.
$SOL
$USDC
This upward trend is linked to softer US macroeconomic data, which increased speculation about an impending Federal Reserve rate-cutting cycle this year, prompting a short-covering rally in BTC prices.
Moreover, BTC gained further momentum as Donald Trump extended his lead over Joe Biden in betting markets during the June 27 presidential debate, boosting investor confidence.
However, gains in BTC may be short-lived as Bitcoin ETF outflows hit $1.3 billion, indicating reduced investor interest and potential downward pressure on prices.
US Economic Indicators and Fed Signals on Bitcoin
On the US front, softer macroeconomic data released on Thursday fueled expectations for the Federal Reserve to begin cutting interest rates this year. This speculation sparked a rally in Bitcoin prices as investors covered short positions.
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Elastos Partners With BEVM to Launch Bitcoin P2P Loans, Targeting $1.3T in Dormant Value
In a press release issued on June 28th, Elastos, the SmartWeb ecosystem provider, announced a partnership with Layer 2 provider BEVM to develop a peer-to-peer loan offering denominated in Bitcoin.👍$BTC
Big News in the Crypto World
"Big news in the crypto world! 🌍💹 Get the scoop on the upcoming Binance listings in my latest article.
Discover which new cryptocurrencies are about to make their debut on the world’s leading trading platform.
Whether you're an investor or a crypto enthusiast, these listings could be game-changers.
Stay informed and ready to act!
#Binancelisting #CryptoNews🚀🔥 #TradingShot #MtGoxJulyRepayments #cryptoomarket
Discover which new cryptocurrencies are about to make their debut on the world’s leading trading platform.
Whether you're an investor or a crypto enthusiast, these listings could be game-changers.
Stay informed and ready to act!
#Binancelisting #CryptoNews🚀🔥 #TradingShot #MtGoxJulyRepayments #cryptoomarket
Looking to incorporate Cryptocurrency Gift Cards into your business?
hashtag#Binance Gift Cards offer an innovative way to start providing a simple, secure, and seamless entry to cryptocurrency.
Easily purchase and send Gift Cards, and choose from a wide range of cryptocurrencies and Gift Card merchants to best fit your business needs!$SOL
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Easily purchase and send Gift Cards, and choose from a wide range of cryptocurrencies and Gift Card merchants to best fit your business needs!$SOL
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