News: Crypto
This is your one-stop-shop for all the latest cryptocurrency news. This is where you can stay up to date on all the latest happenings in the world of digital assets. From the latest price movements to new project announcements to regulatory developments, you can find it all here.
Yes, NFTs Can Be Taxed, Too
According to industry publication DappRadar, collectors went on a buying spree for non-fungible tokens, or NFTs, last year, pushing sales up to $24.9 billion in 2020 from $94.9 million in 2020, and many are only now realizing that an unexpected guest wants in on the fun: the Internal Revenue Service.
Ethereum Mining Is Going Away, and Miners Are Not Happy
The recent crypto market crash has been tough on those whose financial well-being is linked to digital currencies. As of June 15, Ether prices have fallen by around 70% since the start of the year. This is made worse by the so-called "Merge," which is set to end Ethereum mining and cut off income for up to 1 million people.
Crypto Debacle at Celsius Rattles Market Already Shaken by Terra
In May's collapse of the TerraUSD (UST) stablecoin and its sister token Luna captivated the attention of investors, but one of the main attractions of the project had been its promise of a 20% interest rate on UST deposits to Terra's blockchain-based lending project Anchor.
Bitcoin Prices Slide Below $30,000. Inflation Data Bring More Pain to Cryptos
The S&P 500 Index sank 2.4 percent on Thursday, while the Nasdaq dropped almost 3 percent. Cryptocurrencies should, in principle, trade autonomously of traditional financial markets, but they have mostly proven to be connected with other assets, such as stocks or commodities.
The Hotel in Dubai now Accepts Cryptocurrency Payments
Many other Dubai food and beverages service operators have started integrating crypto payments over the past few months. As the regulatory framework starts to provide more clarity, there remains a high possibility that many other service operators might join the crypto bandwagon.
Days After a Crypto Stablecoin Crashed, a Clone Is Growing Rapidly
However, as Terra backers strive to cobble together their own blockchain, crypto investors should be cautious. A procedure might claim that an interest rate is risk-free, but when it is based on an unproven model, danger lurks around every corner.
Bitcoin Flexes Dominance Again as Altcoins Suffer Bigger Losses
Babel Finance reports that the market-cap dominance of the currency has increased significantly during the last selloff, soaring to 45%, the highest level from the beginning of the year. As analysts at the firm said in a note, "altcoins are at their worst."
Robinhood Launches New No-Transaction Fee Crypto Wallet
There is already a web-based custody wallet on Robinhood's website for users' assets. As with most cryptocurrency companies, the assets are not covered by any government guarantee, such as that provided by the Federal Deposit Insurance Corporation.
Morning Brief: Collapsed Cryptocurrency Drama and What Happened in the Market Over the Past Few Days
Bitcoin fell 5.9 percent in 24 hours through noon Eastern time on Saturday, to $28,782, in trading on Coinbase Global's platform (COIN). The cryptocurrency is down 20% this week, while the token is down 58 percent since its top above $69,000 in November 2021.
Elon Musk Is a Crypto Fan. What the Twitter Deal Means for Bitcoin and Dogecoin
Musk may make a huge step by urging Twitter to purchase Bitcoin as a treasury asset, as he has done with Tesla and SpaceX. "Given Twitter's presence in US politics and society, the firm acquiring Bitcoin to store on its balance sheet would be a significant event," Savic added.
Morning Brief: From Chip Makers to EV Production & What is New in Crypto and Stock Market so Far
On Monday, bitcoin fell to slightly around $39,000, reaching one-month lows, while ether fell below $3,000 as risky assets such as cryptocurrencies continued under pressure from global central banks' plans to tighten monetary policy.
