Crypto Lawyer Kyle Roche Withdraws From Tether, Bitfinex, TRON and BitMEX Lawsuits After CryptoLeaks Scandal
Tracy is a deputy managing editor at CoinDesk. She owns BTC, ETH, MINA, ENS, various stablecoins, and some NFTs. Nikhilesh De is CoinDesk’s managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether.
Former billionaire Michael Saylor and his company MicroStrategy (MSTR ) are in the spotlight again and this time it’s for allegations on skipping out on paying taxes for a decade.
Smaller portions have, for years, been a way for those selling food to cut costs without raising prices. That is how many fine-dining restaurants in cities like New York and Los Angeles offer a $40 tasting menu during Restaurant Week and some fast food manufacturers deal with the rising cost of ingredients.
Michael Saylor, Bitcoin evangelist and chairman of publicly traded business intelligence firm MicroStrategy, is being sued by the D.C. attorney general over an alleged 15-year tax fraud scheme.
By Shalini Nagarajan / August 31, 2022, 1:14 pm EDT VanEck found Bitcoin mining companies reward their executives far more than the US’ largest companies Riot Blockchain’s shareholders voted against an advisory vote on executive compensation in July A recent shareholder vote to reject a major Riot Blockchain advisory vote on executive compensation hints at a potentially high-risk trend across the bitcoin mining industry.
The bitcoin utopia dream from this part of the globe could be in jeopardy. Recent years have witnessed a regulatory boom for cryptocurrencies in South America. This was consistent with the rather optimistic attitude on crypto held by several nations in the region.
State police are reminding residents to be on the lookout for scams involving cryptocurrencies, after a recent case in which a resident was swindled out of $10,000 in Bitcoin by a person who resides in India. Troopers don’t anticipate an arrest will be made in the case, state police said.
El Zonte, a beach in El Salvador that has been renamed “Bitcoin Beach” as a result of its acceptance of the cryptocurrency, will get infrastructure upgrades as part of a strategic plan that will be implemented by the government of El Salvador.
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Alex Dovbnya Karl Racine, the attorney general of Washington D.C., has announced that he is suing former MicroStrategy CEO Michael Saylor for not paying taxes. Racine says that the Bitcoin evangelist has never paid any D.C. income taxes, accusing the latter of committing fraud. The D.C.
In August, bitcoin’s AUM fell 7.16% to $17.4 billion, and as a result its market share fell to 67.6% of total AUM, down from 76.9% in July. Ethereum products now account for 26.5% of total AUM, their largest market share since the start of the year
After a rough sell-off through May and June, Bitcoin (BTC-USD) is having trouble finding buyer support. As the asset closes out August, bitcoin is flashing signals that show it is “just barely hanging on” above $20,000, a level that has been a battleground for investors over the last several days.
Bitcoin mining has always been one of the hottest topics in the crypto ecosystem because of the energy usage in its mining operations. While BTC’s mining difficulty has decreased in the past few months, its hash rate has climbed. Take Advantage of the Biggest Financial Event in London.
Bitcoin (BTC) was the first cryptocurrency ever created back in 2009, and it remains the most popular and valuable digital currency in the world today. Bitcoin is a blockchain-based decentralized digital currency powered by a network of users who verify and record transactions without relying on a central authority or intermediary.
This is an opinion editorial by Zack Voell, a bitcoin mining and markets researcher. One of the more interesting and controversial developments in the Bitcoin ecosystem is off-chain use cases. Many of these applications are not technologically identical, but they all nonetheless expand the list of potential use cases apart from the Bitcoin base layer for a given bitcoin holder.
The Bitcoin crash has wiped out over $1.3 billion in value from Michael Saylor’s Bitcoin holdings. Now he’s being sued for tax fraud
Bitcoin evangelist Michael Saylor has become a star in the cryptocurrency world by using his business intelligence firm, MicroStrategy, to buy billions of dollars of Bitcoin since 2020. But Saylor is also no stranger to controversy.
El Zonte, a beach in El Salvador rebaptized as “Bitcoin Beach” due to its adoption of the cryptocurrency, will receive infrastructure investments as part of a strategic plan of the government of El Salvador. Surf City, another beach location in the La Libertad region, will also receive road improvements and other upgrades.
ETH Miner Balances At All-Time Highs Ahead Of The Merge Bitcoin dominance (BTC.D), which is the market capitalization of BTC relative to that of all digital assets, has fallen below 40% for just the second time since 2018 and stands at an eight-month low, according to data from CoinMarketCap.
Banking Titan JPMorgan Recommends To Steer Clear of Bitcoin (BTC) Amid High Risk of a Recession: Report – The Daily Hodl
The chief global strategist at JPMorgan Asset Management is reportedly warning investors to avoid Bitcoin ( BTC) as the threat of a recession looms. In a new Bloomberg report, David Kelly says that there’s a high risk of recession and further volatility.
he Bitcoin (BTC) price today, as of 9:11am, is £17,402, according to CoinMarketCap. That’s up 0.60% on yesterday’s figure of £17,297, down 8.49% on last week and down 12.86% on one month ago. The 24-hour trading volume is around £24.8 billion, and it has a market cap of about £333.1 billion.
As anyone who’s been a patron of McDonald’s (MCD ) for any number of years can tell you, the brand has had great success with celebrity collaborations. Gen X most fondly remembers when it all started with the McJordan meal, a Chicago-only burger topped with pickles, onion, bacon, and barbeque sauce.
The leader of a boutique law firm that specializes in cryptocurrency litigation is moving to exit at least two cases after the posting of recordings showing him discussing his relationship with crypto startup Ava Labs.
After years of hype and broken promises, investors are hoping this time might really be different for hydrogen stocks. A sudden sense of climate urgency in boardrooms and government alike has spiked interest in emerging technologies that could help reach aggressive decarbonization goals. That includes hydrogen, especially hydrogen produced with renewable energy to create truly carbon-free fuel.
Rodrigo Tolotti is a crypto editor at InfoMoney, a leading financial news publication in Brazil. He graduated in Journalism from Faculdade Cásper Líbero. This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney , one of Brazil’s leading financial news publications. Follow CoinDesk Brasil on Twitter .
An unexpected shift in the videogame industry is taking place: a focus on smaller screens. It seems an odd transition when TVs are bigger and offer higher definition than ever before. But mobile gaming clearly wins in portability. Or at least, that’s part of the recipe behind why mobile gaming drummed up $93.2 billion of revenue in 2021.
Saylor is a noted Bitcoin bull, with MicroStrategy holding one of the largest Bitcoin balances among any publicly traded company.
Nelson Wang is CoinDesk’s news editor for the East Coast. He holds BTC and ETH above CoinDesk’s disclosure threshold of $1,000. The Financial Accounting Standards Board (FASB) is excluding non-fungible tokens (NFT) and certain stablecoins from its cryptocurrency accounting review, the Wall Street Journal reported. On Wednesday, the U.S.
Bitcoin ( BTC) and ether ( ETH) traded in positive territory on Wednesday. Bitcoin rose 2% on the day, surpassing volume from the prior day and settling above $20,000. The largest cryptocurrency by market cap recovered part of its losses from Monday, but remains 11% below its 50-day exponential moving average (EMA).
Here’s how crypto mining companies performed on Wednesday, August 31.
Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings. Sage D. Young is a tech protocol reporter at CoinDesk. He owns ETH, LINK, AAVE, PEOPLE, OS, and HTR as well as a few NFTs.
The crypto market was moving higher for most of the day on Wednesday despite the fact that the stock market was moving lower. There wasn’t any major news driving token prices upward, but there were small steps toward mainstream crypto adoption.
The popular DeFi exchange Coinbase may consider offering proof-of-work (PoW) Ethereum Fork tokens after The Merge. Ethereum’s upcoming switch from the energy-hungry proof-of-work to the more efficient proof-of-stake (PoS) mechanism sparked heated debate in the crypto community. Should exchanges offer coins from a potential proof-of-work Ethereum fork chain?
Elon Musk-Jeff Bezos; Jeff Bezos-Elon Musk: this is the duo that has dominated the ranking of the biggest fortunes in the world for two years now. The Tesla ( (TSLA ) co-founder and Amazon AMZN ) founder are the two richest men in the world, according to Bloomberg Billionaires Index.
We’ve come a long way from “Reefer Madness.” The 1936 propaganda flick about the alleged dangers of marijuana tells the strange story of some hapless young people who get sucked into a maelstrom of murder, suicide and extreme kookiness as they succumb to their desperate need for weed.
Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX. A non-fungible token ( NFT) ticket to beer with actor Bill Murray sold for 119.2 ether (ETH), or around US$185,000, on Wednesday in a charity auction-style bidding war.
Luis Lubeck is the technical education specialist of Halborn. In most cases, cybersecurity can be achieved through ethical hacking – an established practice used to identify weaknesses and offer guidance on vulnerabilities. But, as with most things having to do with blockchain, the issue becomes a gray area.
Nikhilesh De is CoinDesk’s managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether. Zcash, horizen and stellar might be securities, according to new regulatory filings. We’re starting to get even more clarity about the U.S. Securities and Exchange Commission’s efforts to bring the cryptocurrency sector in line with its existing regulations.
Attorney Kyle Roche has withdrawn from several class actions in the wake of a blog post’s claims he brought cases on behalf of Ava Labs.
Socios and the AFA will also build a gamified, web3-ready, engagement and rewards community for Argentine fans through the tokens, which will be built on the Chiliz blockchain.
Being on vacation used to mean disconnecting from the world. Back in the 1980s into the 90s, that happened because travelers had very limited options when it came to keeping in touch. Domestic phone calls came with a hefty fee and international calling was even more price prohibitive.
Fran is a TV writer and reporter at CoinDesk. He owns no crypto holdings. John Linden, CEO of gaming technology company Mythical Games, said his company his company is testing an “adjacent” blockchain that will be compatible with the Ethereum blockchain.
August 31, 2022, 1:39PM EDT Quick Take Founded in 2017 by Kyle Samani and Tushar Jain, Multicoin Capital is a thesis-driven investment firm that invests exclusively in digital assets and blockchain companies Multicoin Capital is an active investor across DeFi, Web3, and Layer-1 technologies In total, the firm’s portfolio consists of at least 108 startups and protocols across 11 verticals.
Credit Suisse held tens of millions of dollars in “digital assets” for its clients at the end of the second quarter, according to regulatory filings, a revelation that underscores how the traditional financial institutions are inching toward crypto custody.
The NFT-powered protocol Koop is launching on Thursday with the aim of turning consumers into creators, backed with $5 million from investors including 1Confirmation, Variant Fund, and Balaji Srinivasan. Founded by 21-year-old university dropout Natalia Murillo, Koop provides software that allows projects to sell NFT collector passes, facilitating the building of communities centered on anything from open-source software to ice cream brands.
Soaring commodity prices are hobbling electric-vehicle startups. At the rate things are going, the cost surge may well disrupt the auto industry’s disruptors. The cost of battery development has more than doubled since the coronavirus pandemic, research firm AlixPartners has calculated.
On Monday, the Fed announced it will start testing its instant payments platform, FedNow, next summer. The platform will help people make and receive payments faster. FedNow will extend the reach of instant payments to banks of every size. Earlier in 2019, Facebook parent Meta Platforms ( META) launched a stable coin for instant and borderless payments, Libra.
Margaux Nijkerk reports on blockchain protocols with a focus on the Ethereum ecosystem. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a very small amount of ETH and other altcoins. In American gun culture, a desire for privacy runs deep.
A new partnership between Ticketmaster and Dapper Labs’ Flow blockchain will enable event organizers to issue non-fungible tokens (NFT) before, during and after live events. According to a press release, the NFTs will serve as a shareable form of digital memorabilia. Mickey Maher, Dapper Labs’ senior vice president of partnerships, said live-event NFT collectibles will augment fans’ day-of experiences.
EU lawmakers on Thursday shot down a Green Party proposal to research alternatives to the proof-of-work (PoW) mining that underpins bitcoin (BTC). The Green Party effort followed an unsuccessful attempt by some members of the European Parliament to impose restrictions on the energy-intensive PoW consensus mechanism that some had characterized as a bitcoin ban.
OnlyFans star Courtney Clenney pleaded not guilty to murdering her boyfriend in their luxury Miami apartment Wednesday in a brief court appearance. Clenney faces second-degree murder charges for fatally stabbing cryptocurrency trader Christian Obumseli during a vicious April argument.
Ticketmaster is launching infrastructure for blockchain-mediated event ticketing via NFTs, a long-discussed utility for NFTs.
Sei Labs, a firm developing layer 1 blockchain for Decentralized Finance (“DeFi”),NASDAQ: has raised $5M in a funding round led by Multicoin Capital, with participation from Coinbase ( COIN) Ventures, Delphi Digital, Hudson River Trading, Kronos Research, and Flow Traders, among others, the company said Wednesday.
Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH. Paraguay’s President Mario Abdo Benítez fully vetoed a bill proposing to regulate crypto mining and trading in the South American country.
US accounting rulemakers took a significant step Wednesday toward crafting long-awaited rules for how companies report holdings of cryptocurrencies like Bitcoin, a move that would bring clarity to big crypto investors like Tesla Inc. and MicroStrategy Inc. Their first move: defining the exact, narrow population of digital assets that potential new rules would cover.
Tracy is a deputy managing editor at CoinDesk. She owns BTC, ETH, MINA, ENS, various stablecoins, and some NFTs. Is it worth quitting your job to work in crypto? A new study from crypto venture capital firm Framework helps answer that question by giving a glimpse into startup salaries, offering concrete info for anyone seeking to join the crypto gold rush.
Koop, a web3 protocol focused on creator economy, has raised $5 million in funding led by 1confirmation and Variant Fund.
David Z. Morris is CoinDesk’s Chief Insights Columnist. He holds Bitcoin, Ethereum, and small amounts of other crypto assets. In September 2020, Buzzfeed News and a coalition of other investigators dropped a bombshell on the world of international finance and law enforcement. A leaked set of documents from the U.S.
Anna Baydakova is an investigative reporter with a special focus on Eastern Europe and Russia. Anna owns BTC. Binance, the world’s largest crypto exchange by volume, froze a wallet related to Vladislav Lobaev, a Russian gun manufacturer who raised funds for the country’s troops in Ukraine, according to a Lobaev representative and blockchain data analysis.
Non-fungible tokens (NFT) have a licensing problem, and Andreessen Horowitz’s (a16z) crypto arm thinks it has an answer. The firm wants to establish some industry standards for how NFTs can be used by offering a lawyer-vetted array of free licensing options in an approach similar to Creative Commons.
Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets. Price Point: Bitcoin hovers around $20,300, and some altcoins posted gains. Market Moves: A look at how crypto products performed in August.
Creator-owned livestreaming platform Stacked has closed a $12.9 million Series A round led by Pantera Capital.
Bitcoin Miners’ Profitability May Narrow as Mining Difficulty Hits Second-Biggest Increase This Year
The difficulty of mining a bitcoin (BTC) block increased by 9.26% on Wednesday, making it this year’s second-biggest increase, which is likely to result in narrower profit margins for the industry. The metric adjusts automatically to keep the time required to mine a bitcoin block to roughly around 10 minutes, depending on the amount of computing power on the network.
Warren Buffett remains a legend in global business circles. The Oracle of Omaha is celebrated even by the new generation of investors, even as they criticize him for his acerbic words about cryptocurrencies, particularly bitcoin. But when Buffett, who recently turned 92, speaks, the whole financial world listens.
GoGoPool raises $5 million to provide bring liquid staking to Avalanche and make it easier to launch subnets.
Web3 video and livestreaming platform Stacked has raised $12.9 million in a Series A funding round led Pantera Capital. The capital will go toward marketing, content acquisition, hiring and expansion into Latin America, India and Southeast Asia. The Stacked platform aims to provide a decentralized alternative to Alphabet (GOOG)-owned YouTube and Amazon (AMZN)-owned Twitch.
Bloomberg reported Aug. 25 that crypto exchange FTX would absorb the VC operations of its sister company, Alameda Research. Both are owned by billionaire Sam Bankman-Fried, who allegedly wanted to consolidate his empire while cryptocurrencies work on rebounding. Alameda CEO Caroline Ellison outlined the changes in an interview with Bloomberg.
Shaurya is an analyst/editor for CoinDesk’s markets team in Asia. Futures tracking ether (ETH) have racked up almost $140 million in liquidations over the past 24 hours with a key metric suggesting traders are turning bearish on the asset’s near-term growth as they focus their attention on the contracts before Ethereum’s Merge next month.
What makes investing in cryptocurrencies so attractive for many is the potential for almost unlimited upside. Even cryptos that have already seen 10-fold returns could still have another 10-fold in them as soon as the next bull-market rally arrives.
Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX. Royalty payments have become a cornerstone of the growing non-fungible token (NFT) industry, allowing artists to make money when people resell their work, venues to capture revenue on secondary marketplaces for NFT tickets and musicians to subvert streaming services in favor of more lucrative, blockchain-driven products.
Not too long ago, the combined market cap of major cryptocurrencies like Bitcoin and Ethereum used to be a few billion dollars. These projects led to the rise of the first crypto millionaires.
The core developers at Helium have proposed to migrate the project to Solana in a move that aims to achieve additional scalability.
The chief operating officer of crypto-focused venture capital and hedge fund Pantera Capital has left after just two months in the job.
Join us for a day full of critical insights, invaluable discussions, and in-person networking opportunities at Tearsheet’s Power of Payments Conference on Sep 15th, Current, Chelsea Piers, NYC.
Sam is a reporter at CoinDesk focused on decentralized technology, DeFi and DAOs. He owns ETH, BTC and MATIC. Sage D. Young is a tech protocol reporter at CoinDesk. He owns ETH, LINK, AAVE, PEOPLE, OS, and HTR as well as a few NFTs. The censorship debate sprang up in response to the recent U.S.
Jim Cramer, the TV clown your grandpa watches when he can’t find the remote, had some horrifying news for viewers of his CNBC program Mad Money on Tuesday. Apparently, there are people on TV who are over-hyping crypto, according to Cramer. Yes, you read that correctly.
Bitcoin’s ( BTC) price may climb by more than 50% in September, a month otherwise considered ominous for the cryptocurrency due to its poor historical returns. The conflicting upside signal comes from a potential double-bottom pattern on Bitcoin’s longer-timeframe charts against the United States dollar.
The US fintech company and Bitcoin ATM operator, Bitcoin Depot has announced its intention to list on the Nasdaq exchange. In addition, the company has agreed to merge with Nasdaq-listed SPAC company, GSR II Meteora Acquisition Corp. (NASDAQ:GSRM). The combined entity will be valued at $885M.
CleanSpark Inc (NASDAQ:CLSK) ( CleanSpark Inc (NASDAQ:CLSK)) has released its unaudited bitcoin mining and operations update for the calendar year-to-date ending August 31, revealing that its hashrate has tripled over the past year. In August, CleanSpark mined 395 Bitcoin, more than doubled what it mine in August 2021.
As the climate heats up, we hear about the dry future predicted for one of Scotland’s best known exports. We travel to East Africa, where Somalians – desperate for climate aid – are taking the salt out of seawater to solve worrisome water shortages.
On Aug. 8, Nvidia shook investors’ confidence with a preliminary announcement of its results for the second quarter of fiscal year 2023 (ended July 31). In that bombshell announcement was the abysmal news that Q2 revenue would only rise 3% year over year, driven mainly by the fall of its gaming segment revenue, which was down 33% from a year ago.
Whether it has been the crypto winter or the bear market, both the large crypto exchange Coinbase and the popular online retail brokerage Robinhood have had a rough go of it in 2022. Coinbase’s stock is down more than 73% this year, and Robinhood has seen its shares fall over 49%.
Bitcoin is making another attempt at breaking out above a descending resistance line. If successful, it could increase to the support/resistance zone near $22,000. Bitcoin had been increasing inside an ascending parallel channel since reaching a low on June 18. The channel led to a local high of $25,211 on Aug.
MORE ON CRYPTO, BANKING, AND INVESTING One reason many early adopters liked using bitcoin was because they could buy and sell it anonymously. In its early days, the currency gained notoriety because it was often used for illicit purposes.
The amount of “illiquid bitcoin” across the market – held by wallets that rarely spend or sell – has risen by 73,840 bitcoin over the past week, the largest weekly increase for more than two months, according to Chainalysis data.
For better or worse, cryptocurrency investors have become Federal Reserve watchers. This is a phenomenon that arguably dates back to early 2020, when big institutional investors started moving into crypto. But this summer has been peak season for crypto Fed watchers.
Arman Shirinyan Cover image via www.freepik.com According to the technical analysis shared by Bloomberg analysts, Ethereum is potentially on its way to the $1,000 threshold for the first time in two months. The main reasons are a potential spike in volatility and a variety of factors hinting at the continuation of the downtrend.
Ethereum started a fresh increase above the $1,600 resistance against the US Dollar. ETH is gaining pace and might rise further towards the $1,650 level.
The head of research at Arca, a $600 million crypto investment firm, explains the bull and bear case for ethereum – and how layer-2s can ‘turbocharge’ the blockchain’s growth
Katie Talati is the head of research at $600 million crypto investment firm, Arca. The exec breaks down potential barriers and catalysts for success in Ethereum’s network. According to Talati, layer-2s can “turbocharge” the Ethereum blockchain’s growth. Ahead of Ethereum’s Merge, investors and industry participants are looking for ways to both make sense of and capitalize on the network’s highly anticipated technical upgrade.
In a major crypto move on 31 August, a prominent Ethereum address transferred 64,000 ETH to an unknown wallet. According to Whale Alert, the value of the transfer stands at $102 million. The transaction was executed at around 05:01 UTC. Take Advantage of the Biggest Financial Event in London.
Every congressional race has its own parochial issue. In New Hampshire, it might be Bitcoin. An outsized number of Republican candidates for federal or statewide offices this year in the Granite State are either personally or politically invested in cryptocurrencies, setting New Hampshire apart from other battlegrounds ahead of the midterms. Like the assets they’re boosting, these federal candidates are underdogs against establishment favorites in the Sept.
Amitoj Singh is CoinDesk’s regulatory reporter covering India. He holds BTC and ETH below CoinDesk’s disclosure threshold of $1,000. Christopher Hamilton, a British national accused of money laundering and wire fraud related to the $4 billion OneCoin scam, lost his bid to avoid extradition to the U.S.
Avatar developer is releasing NFT clothing for its avatars. Known for its partnerships with celebrities like Justin Bieber, Rihanna and Cardi B, it is launching an NFT fashion marketplace called ‘The Warehouse’. Only creators approved by Genies will be able to release NFT clothing on The Warehouse, but the platform ultimately aims to allow all users to do so.
Reddit’s corporate launch post strangely omitted the term non-fungible token, instead describing the artworks as “limited-edition avatars made by independent artists, in partnership with Reddit.” However, make no mistake, in their simplest form, these avatars are nothing but NFTs. NFTs have been all the rage over the last couple of years.
Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects. The U.K. government raised eyebrows in April when a high-ranking official said the country would issue its own non-fungible tokens ( NFTs).
The outlook for Bitcoin mining stocks is very closely tied to the outlook for the world’s most popular cryptocurrency. If Bitcoin is headed up, Bitcoin mining stocks are likely headed up as well. And if Bitcoin is mired in a nasty slump, well, Bitcoin mining stocks will suffer accordingly.