July 2023 | Page 2 of 207 | Last Cryptocurrency News Feed

IRS: Crypto Staking Rewards Taxable Once Investor Gets Hands on Tokens

A cryptocurrency investor given rewards for validation activity on a proof-of-stake network should count the rewards as income in the year the investor gets control of those tokens, according to a ruling issued Monday by the Internal Revenue Service (IRS).“The fair market value of the validation rewards received is included in the taxpayer's gross income…

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Curve Founder’s $168M Stash Is Under Stress, Creating a Risk for DeFi as a Whole

The exploit at DeFi giant Curve Finance has driven down the price of its CRV token, putting an $168 million stash of founder Michael Egorov's money at risk of being liquidated.That could create pressure in the DeFi ecosystem, as seized assets would have to be sold – into a market where prices are already falling.Chaos…

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Binance Becomes World’s First Exchange to be Granted Dubai’s Operational License

Amid regulatory turmoil elsewhere, Binance’s Dubai affiliate, Binance FZE, managed to score an Operational Minimum Viable Product license from the Virtual Assets Regulatory Authority (VARA). Binance has now become the first crypto trading platform to receive Dubai’s Operational MVP license enabling it to offer services such as exchange and broker-dealer services. The company is permitted…

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Yuga Labs Acquiring Roar Studios to Accelerate ‘Bold Vision’ for Otherside

Yuga Labs, the Web3 behemoth behind Bored Ape Yacht Club, has agreed to acquire Los Angeles-based Roar Studios as part of its efforts to expand its Otherside metaverse and create entertaining social experiences for Web3 communities.Roar Studios was founded in 2021 by entertainment executive Eric Reid and sits at the intersection of music, gaming and…

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Judge Rejects Ripple Ruling Precedent in Denying Terraform Labs’ Motion to Dismiss SEC Lawsuit

A federal judge denied stablecoin issuer Terraform Labs' motion to dismiss a lawsuit from the U.S. Securities and Exchange Commission (SEC) on Monday.More importantly, perhaps, Judge Jed Rakoff, of the U.S. District Court for the Southern District of New York, also rejected a ruling from fellow Judge Analisa Torres, who recently ruled that Ripple Labs…

Cointelegraph Feed

Crypto market loses $486M in July, most since 2022: Report

According to the report, nearly half of the month’s losses were caused by the Multichain exploit, which resulted in $231 million in losses alone. 69 Total views 1 Total shares The cryptocurrency market is having its worst month of 2023, according to a report from Web3 outlet De.Fi shared with Cointelegraph. Losses for July totaled…

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Republican candidate wants to end President Biden’s supposed ‘war on Bitcoin’ if elected

“As president, on day one, CBDC goes into the trash can — we’re not going to allow it," said Ron DeSantis at a New Hampshire campaign event. 192 Total views 1 Total shares Florida Gov. Ron DeSantis has pushed a platform based partly on “economic independence” in his 2024 presidential campaign, specifically taking a stance…

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Tether Holds $3.3 Billion In Excess Reserves: Q2 2023 Report

Tether, the world’s largest stablecoin issuer, released an assurance report on Monday covering its financials as of June 30. The Q2 attestation showed that the issuer now holds over $3.3 billion in excess reserves to back its USDT tokens. Tether’s Massive Surplus As explained by Tether in an accompanying blog post, the issuer’s excess reserves…

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DeSantis Accuses Biden of ‘War on Bitcoin,’ Vows to Stop It if Elected President

Presidential candidate and Florida Governor Ron DeSantis (R-Fla.) said he will end the Biden Administration's alleged "war on bitcoin and cryptocurrencies," during a campaign event in New Hampshire."We are going to allow Americans to invest in things like bitcoin and cryptocurrency," he said.Presidential candidate and Florida Governor Ron DeSantis (R-Fla.) called out the Biden Administration…

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As Litecoin Halving Approaches, Founder Touts Silver Collector Cards Loaded With ‘Digital Silver’

Litecoin Foundation and crypto cold-storage card manufacturer Ballet teased an upcoming sale of 500 collectable cards – fashioned from 50 grams of fine silver and pre-loaded with at least 6.25 litecoin (LTC).The cards will commemorate the blockchain’s third halving event, expected to happen on Wednesday.The sale is expected to take place sometime later in the…