Tag: Crypto

  • Bitcoin Surges as MicroStrategy Eyes Nasdaq-100 Inclusion

    Bitcoin Surges as MicroStrategy Eyes Nasdaq-100 Inclusion

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    Oscar

    MicroStrategy, a business analytics firm turned “bitcoin treasury” juggernaut, is on the verge of being included in the prestigious Nasdaq-100 Index. With a $75 billion market cap and a near-500% stock price surge in 2024, it currently ranks as the 66th-largest company in the market. Analysts believe its inclusion is “basically guaranteed,” though some warn…

  • India Cracks Down on Crypto Tax Evasion, Targets Binance and WazirX

    India Cracks Down on Crypto Tax Evasion, Targets Binance and WazirX

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    Oscar

    The Indian government has uncovered significant tax evasion by major cryptocurrency exchanges, recovering millions in unpaid goods and services tax (GST). This includes actions against industry leaders like Binance and WazirX. $97 Million in Unpaid GST Identified India’s Minister of State for Finance, Pankaj Chaudhary, revealed that authorities have detected ₹824 crore ($97 million) in…

  • Bitcoin Rebounds Above $95K as Altcoins Gain Momentum

    Bitcoin Rebounds Above $95K as Altcoins Gain Momentum

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    Oscar

    Bitcoin experienced a slight price correction, prompting a noticeable shift in market sentiment. Investors are diversifying their portfolios, with increased interest in altcoins signaling a potential pivot in the crypto economy. Despite this movement, Bitcoin retains its dominant market position and strong performance metrics, reinforcing its status as a cornerstone asset. Altcoins Garner Attention The…

  • The Downfall of Cryptocurrency Exchange FTX

    The Downfall of Cryptocurrency Exchange FTX

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    Issac Lane

    The downfall of cryptocurrency exchange FTX, orchestrated by its founder Sam Bankman-Fried (SBF), remains a stark reminder of the dangers of unchecked fraud. While SBF’s actions were central to FTX’s collapse, the failure of its auditor, Prager Metis, played a critical role in allowing the fraud to grow unchecked. Recently, Prager Metis settled misconduct charges…

  • US Government Transfers $1.9 Billion in Bitcoin to Coinbase Prime

    US Government Transfers $1.9 Billion in Bitcoin to Coinbase Prime

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    Issac Lane

    Seized Silk Road Bitcoin Moves Following 2021 Zhong Investigation The United States government has moved over $1.9 billion worth of Bitcoin seized from the Silk Road marketplace to a Coinbase Prime wallet. The transfer, which took place on December 2, 2023, involved around 19,800 BTC, valued at $94,169 per coin at the time. Silk Road…

  • Sanctions, Crypto, and War: Putin’s Economic Balancing Act

    Sanctions, Crypto, and War: Putin’s Economic Balancing Act

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    V Sinclair

    The economic activity in Russia is experiencing instability. In the face of mounting pressure, President Vladimir Putin is turning to cryptocurrency. On November 29, he signed a law officially classifying crypto as property.The Russian ruble fell to its lowest level in more than two and a half years on November 27. The Russian currency broke…

  • When Ripple releases one billion XRP tokens, it causes market movement and investor anxiety.

    When Ripple releases one billion XRP tokens, it causes market movement and investor anxiety.

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    V Sinclair

    Ripple Labs released one billion XRP tokens from its escrow accounts, a normal procedure in the company’s monthly schedule. As of the time of writing, the market value of the unlocked tokens is estimated to be $1.92 billion. This release is consistent with Ripple’s pre-set schedule, which is to unlock one billion XRP tokens daily…

  • NFTs’ monthly sales volumes reached a six-month high of $562M.

    NFTs’ monthly sales volumes reached a six-month high of $562M.

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    V Sinclair

    Non-fungible tokens (NFTs) have maintained their monthly sales momentum, surging by 57.8% in November as digital collectibles continue to recover.  On Dec. 1, data company CryptoSlam showed that NFTs recorded $562 million in sales in November, a substantial increase in volume from October. CryptoSlam data also indicates that November’s monthly sales volume for NFTs is the highest…

  • Tom Lee Forecasts Bitcoin Surge Ahead

    Tom Lee Forecasts Bitcoin Surge Ahead

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    V Sinclair

    Tom Lee, the research leader at Fundstrat, is optimistic about Bitcoin‘s (BTC) trajectory, suggesting that a notable increase is on the horizon. During a recent podcast with Anthony Scaramucci from SkyBridge Capital, Lee highlighted that Bitcoin’s potential for significant growth is backed by both technical analysis and supportive political movements. He estimates that Bitcoin could soar…

  • XRP Soars as Ethereum Faces Selling Pressure Amid Mixed Crypto Market

    XRP Soars as Ethereum Faces Selling Pressure Amid Mixed Crypto Market

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    Oscar

    The cryptocurrency market is abuzz with mixed movements as XRP outperforms, Ethereum dips, and Bitcoin stalls in a tight trading range. Here’s a quick overview of the key developments shaping the market. XRP Hits Highest Levels Since 2021 XRP surged past $1.64 on Friday morning, marking its highest level since 2021. Despite this impressive rally,…