Crypto ▪︎ Bitcoin ▪︎ Trading ▪︎ News

2023-01-02 21:14:00 Sam Bankman-Fried’s Alameda Research troubles predate FTX

SBF had claimed that the operations of FTX and Alameda were independent, but the recent lawsuit has revealed that both firms worked in conjecture from day one. New reports into Sam Bankman-Fried and his collapsed exchanges revealed that Alameda Research, the now-bankrupt crypto trading firm. A report published in The Wall Street Journal citing former employees revealed that Alameda incurred heavy losses from its trading algorithm. The algorithm was designed to make a large number of automated and fast trades. However, the firm was losing money by guessing the wrong way about price movements. SBF used the event to get in touch with investors to get funding for his failing trading firm.

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2023-01-02 16:03:01 Australia overtakes El Salvador to become 4th largest crypto ATM hub

El Salvador, the first country to legalize Bitcoin has been pushed down yet another spot in total crypto ATM installations as Australia records 216 ATMs stepping into the year 2023. El Salvador’s drive to establish Bitcoin as a legal tender, President Nayib Bukele had decided to install over 200 crypto ATMs across the country. While this move made El Salvador the third largest crypto ATM hub at the time after the United States and Canada in September 2021, Spain and Australia overtook the Central American country’s ATM count in 2022.

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2023-01-02 10:03:01 UK Enforces Crypto Tax Break for Foreigners Using Local Brokers

The U.K. is enforcing a tax exemption for foreign investors purchasing crypto through local investment managers or brokers starting Sunday. a part of Prime Minister Rishi Sunak’s plans to turn the U.K. into a crypto hub.Parliament is debating the wide ranging Financial Services and Markets Bill that would give local financial regulators more powers over crypto if passed into law. The U.K. Treasury also plans to kick-start a consultation in the coming weeks on how the crypto sector can be regulated. this exemption has been extended to include crypto assets, so that funds which include them aren’t put off from appointing U.K. managers.”

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2023-01-02 04:03:01 Disgraced Bankman-Fried Crypto Wallets Now Targeted By Federal Prosecutors

According to Bloomberg News, citing a person familiar with the situation, federal prosecutors are looking into a number of cryptocurrency transactions that web analysts have connected to digital wallets linked to disgraced crypto tycoon Sam Bankman-Fried. Blockchain experts have been monitoring the movement of funds over the past few days that appear to be tied to digital wallets connected to the former CEO of the FTX exchange and his shuttered hedge fund Alameda Research, with a total estimated value of more than $1 million by data tracker Arkham Intelligence. After being declared a billionaire earlier, Bankman-Fried claims he still has roughly $100,000 in his bank account.

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2023-01-01 20:52:02 Dogecoin Foundation Launches Development Fund, DOGE Price Jumps Over 5% On The Day

The Dogecoin Foundation made an official announcement on December 31 about the establishment of a new community Dogecoin Core development fund on Saturday. To maintain transparency, the team will blog about all expenses and developments. On Saturday, the Dogecoin Foundation released some great news for the Dogecoin community. The foundation announced the creation of a new community Dogecoin Core development fund in an official statement on December 31. 5,000,000 DOGE was first transferred to the development fund by the Dogecoin Foundation. DOGE is trading at $0.0707. Although the increase is more than 5.4% in the past 24 hours.

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2023-01-01 16:25:00 Italy Lawmakers Approve 26% Cryptocurrency Gains Tax

According to a new budget approved by Italy lawmakers on Thursday, cryptocurrency dealers in Italy would face a 26% capital-gains tax beginning in 2023. Prime Minister Giorgia Meloni’s new measure also provides a tax benefit for people who declare cryptocurrency. According to Reuters, Italian Prime Minister Giorgia Meloni‘s 2023 expansionary budget, which was produced in a haste at the end of the year, includes 21 billion euros ($22.3 billion) in tax incentives to help firms and people dealing with the energy crisis. Coindesk reported that in Italy, where crypto is mostly unregulated, the 387-page budget defines crypto assets.

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2023-01-01 10:25:00 SBF Tweets For The First Time Since His Arrest On December 12

Sam Bankman-Fried (SBF), the former CEO of the now-collapsed crypto exchange FTX has posted a new tweet for the first time, saying he was not responsible for funds recently moved from Alameda Research wallets. According to on-chain data, Ethereum wallet addresses affiliated with the defunct trading company Alameda Research exchanged multiple crypto tokens for ether and USDT on Wednesday before switching to bitcoin. The Alameda-linked wallets traded Lido, Polygon, Uniswap, and other tokens for ether and USDT before bridging to the Bitcoin network, according to Etherscan transaction data.

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2023-01-01 04:25:00 Head Chef Sushiswap Announcing Redesign The Tokenomics To Revive The Protocol

The “Head Chef” of the decentralized exchange Sushiswap, Jared Grey, suggested altering the tokenomics of the exchange in an effort to revive the protocol after a tough year. According to Grey, Sushiswap presently has a runway of just 1.5 years. The proposal lists four significant modifications to the tokenomics of the protocol. One of the most significant suggested modifications is that staked sushi (xSushi) would no longer get trading fee income incentives, but rather emission-based benefits paid out in sushi. The liquidity providers of trading pools with the highest volume will earn the bulk of swap fees, as well as increased benefits based on a new time-lock implementation that they can opt into.

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2022-12-31 20:31:33 Binance.US $1 Billion Acquisition Of Voyager Digital Under Review

According to court documents, the Committee on Foreign Investment in the United States (CFIUS) may review an arrangement between Binance.US and the insolvent crypto lender Voyager Digital. The notice states that the conclusion of the assessment may influence the parties’ ability to consummate the transactions, the timetable of completion, or related terms. CFIUS is a crucial part of defending American infrastructure, technology, and intellectual property against the exploitation of parties whose interests conflict with those of the United States.

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2022-12-31 16:03:02 Over 53% Of The Total Hashrate Of Bitcoin Is Controlled By Mining Pools

Bitcoin’s hashrate has jumped from the low 170 exahash per second (EH/s) recorded this week to above the 300 exahash range after several bitcoin mining operations from Texas temporarily went offline on Dec. 25, 2022. Furthermore, three-day hashrate distribution statistics recorded on Dec. 29, 2022, indicate that two mining pools command more than 50% of the global hashrate. On the evening of December 28, 2022, the Bitcoin (BTC) network’s computational processing power increased to a range of 300 EH/s. On December 28, 2022, three days before the surge, Texas-based bitcoin miners reduced their hashrate to a low of 170 EH/s.

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