How to determine crypto cost basis for accurate tax filings

May 3, 2024
The Last Cryptocurency
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Cointelegraph Feed

Calculating the cost basis of cryptocurrency for tax purposes involves considering purchase prices, transaction fees and events such as hard forks or staking rewards.

With less than a week until its launch, Ngrave has unveiled more details of its EAL7-certified hardware wallet, the Zero. 998 Total views 31 Total shares Digital asset security firm Ngrave has released more details of its fully offline hardware wallet, the Zero. As previously reported, the Zero claims to be the first hardware wallet…

Mark Cuban-backed Alethea AI closes $16M private token sale

Venture funds and other strategic investors have recognized the value proposition of NFT marketplaces. Some of blockchain’s biggest investors are behind the Alethea AI token sale. 837 Total views 4 Total shares Nonfungible token protocol Alethea AI has closed a $16 million private token sale to build scalable infrastructure for the NFT market, highlighting once…

Ether set for $3.2K breakout, Coinbase exec urges SEC reform: Finance Redefined

Trump’s presidential victory inspired a new wave of optimism, including predictions for an imminent Ether rally to $3,200 and hopes for a reform of the US SEC.

$8.5K Then $3K — This Trader’s Bitcoin Price Call Is Playing Out to a T

The Bitcoin price (BTC) has recovered strongly from $5,200 to $7,200 in the past two weeks, despite the declining appetite for high-risk assets including single-stocks and cryptocurrencies. One prominent trader predicted the entire price movement of Bitcoin since its initial drop from $10,500 to sub-$6,000, and in the medium-term, the digital asset’s trend remains gloomy.Crypto market…

Accomplice in Alleged $722M Bitcoin Ponzi Scheme Pleads Guilty to Charges

One of four men charged with defrauding investors of over $722 million through a long-running cryptomining scheme has pleaded guilty to charges against him. 786 Total views 13 Total shares One of four men charged with defrauding investors of more than $722 million through a long-running cryptocurrency mining scheme has pleaded guilty to charges against…

DCG losses top $1B on the back of 3AC collapse in 2022

The crypto conglomerate reported that falling crypto prices and the fallout from Three Arrows Capital’s loan default to Genesis affected its results. 202 Total views 1 Total shares Own this piece of history Collect this article as an NFTCryptocurrency venture capital conglomerate Digital Currency Group (DCG) has reported losses of over $1 billion in 2022…

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Some pro-crypto Trumpers suggest he ‘lost their votes’ after token launch

Though many Donald Trump supporters said nothing would stop them from voting for the Republican candidate, others didn’t seem to be pleased by his latest crypto lending project.

CFTC Cannot Locate Man Responsible for Over $140 Million Crypto Ponzi

The United States Commodity Futures Trading Commission (CFTC) is having trouble locating Benjamin Reynolds, who is allegedly responsible for a cryptocurrency Ponzi scheme worth over $140 million.Financial news outlet FinanceFeeds reported on Jan. 6 that the CFTC has filed a motion with the New York Southern District Court. More precisely, the regulator filed for the…

Russian prime minister proposes legal steps to bring order to crypto market

Russia’s prime minister proposed recognizing crypto as property under the nation’s tax code. Russian prime minister Mikhail Mishustin has appeared to express support for the further development of the local cryptocurrency market.At a recent governmental meeting held on Nov. 26, Mishustin proposed the introduction of legal protections for crypto holders in the country in order…

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