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The Crypto Basic
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Crypto users and platforms lost more than $1.7 billion in hacks and exploits in 2023, according to a report by TRM Labs.
#cryptobreach
#cryptohacks
#crypto2024SpaceCatch
#CryptonewswithJack
#CryptoNews🔒📰🚫
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Amid the IRS growing tax issues with the crypto industry, a US Congressman has filed a bill to decimate the collectors and reform the system. Earl Buddy Carter, a member of the US House representing Georgia, has filed an attention-grabbing bill. On January 9, the Congressman unveiled the Fair Tax Act, H.R. 25, which seeks to reform the US tax code. The proposal suggests dissolving the US Internal Revenue Service (IRS) and simplifying the taxing process. It also proposes abolishing income, payroll, and estate taxes, which it deems unfair to US taxpayers. A Simplified US Tax Payment System The complexity of the IRS taxing system has become controversial, especially in relation to the nascent crypto industry. Notably, the tax collector has sought to impose dues on staked cryptocurrencies, among other things. Representative Carter mentioned the agency’s tax overreach and proposed abolishment. He suggested a simplified national consumption tax system and an end to income, payroll, death, and gift taxes. Meanwhile, Congress and the Senate will deliberate on and pass the proposal if approved. The bill has already been adopted by over 10 Republicans, including John Carter and John Rutherford, Texas and Florida representatives. “The Fair Tax is exactly that—fair. It is the only tax proposal out there that is pro-growth, simple, and allows Americans to keep every cent of their hard-earned money while eliminating the need for the IRS altogether,” Congressman Carter said. #CryptoNews🚀🔥V
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Shytoshi Kusama, the enigmatic #shiba⚡ Inu ecosystem lead, has expressed agreement with the view that the SHIB token could reach a trillion-dollar market cap. In a recent tweet, Shiba Inu enthusiast “Shib Research” shared a highly optimistic prediction for the SHIB token. The commentator boldly stated that SHIB could one day reach a market cap in the trillions. Moreover, the enthusiast argued that SHIB would play a central role in a new financial system built on Shibarium. Given the radical nature of this forecast, Shib Research acknowledged facing skepticism from others, who see it as far-fetched. Regardless, they remain confident that this vision could come to fruition someday, though they recognize it’s not something they actively think about on a daily basis. Shiba Inu Lead Agrees with Trillion-Dollar Market Cap Forecast Shytoshi Kusama, the mysterious and influential leader of the Shiba Inu ecosystem, responded to Shib Research’s tweet with a message of reassurance and excitement. Kusama acknowledged that the general public might be surprised by such bold projections. However, in his view, those closely following the development of Shiba Inu and Shibarium should not be too startled by the potential future success. “They’ll be surprised,” Kusama remarked, essentially agreeing that Shiba Inu could someday claim a trillion-dollar market cap. Shiba Inu Price at $1T Cap For context, Shiba Inu currently ranks as the 15th biggest crypto asset with a market cap of $12.21 billion. At this market cap, SHIB is trading at $0.00002073. To attain a $1 trillion market cap, Shiba Inu’s value would need to grow by 80 times or 8,090%. Notably, a $1 trillion cap would correspond to a Shiba Inu price of $0.001696, a scenario in which SHIB would drop two more zeros. #CryptoNewsFlash
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