A package of several crypto tax bills may not be ready yet for prime time, as a U.S. House Ways and Means Committee hearing revealed potentially significant questions from lawmakers that suggested the panel hasn’t achieved a bipartisan embrace of the bills that would tailor a clearer tax code for digital asset gains. The latest […]
The House Ways and Means Committee circulated seven draft bills ahead of this week’s hearing on crypto tax policy, signaling what the industry can expect. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. The narrative The House Ways and […]
In recent weeks, bitcoin BTC$62,210.59 sentiment has been most bullish when the price was highest and most bearish exactly when it was most stressed, according to Santiment data covering May 21 through June 4. Peak bullishness hit on May 22, with bitcoin near its high of $78,000 for the period. The most bearish came June […]
Though there’s no new sign of progress on the U.S. Senate’s Digital Asset Market Clarity Act, the crypto industry’s Blockchain Association held an online event Thursday with involved lawmakers continuing to make the case for support — especially in the law enforcement community — as the bill’s advocates contend with a narrow Senate window. Throughout […]
Bitcoin BTC$69,395.02 slipped below $70,000 for the first time in two months, leaving cryptocurrency markets vulnerable ahead of a week of important U.S. economic data that could determine the direction of the next move for risk assets. The largest cryptocurrency has lost more than 4.45% in the past 24 hours, and was recently trading near […]
The U.S. Securities and Exchange Commission (SEC) has sued Texas resident Nathan Fuller, alleging he raised about $12.3 million from roughly 150 investors through a crypto investment scheme built around false claims of AI-powered trading bots, guaranteed returns and insurance protections. According to a complaint filed in the U.S. District Court for the Southern District […]
Latest developments: Calamos says its protected Bitcoin ETFs are attracting inflows even as spot Bitcoin ETFs see redemptions. Matt Kaufman, head of ETFs at Calamos, said the firm saw roughly $10 million to $15 million in inflows over the past several weeks. Kaufman said advisors are increasingly looking for Bitcoin exposure that reduces volatility and […]
Three Samsung affiliates agreed to buy a 4% stake in Dunamu, the operator of South Korea’s largest cryptocurrency exchange, Upbit, for a total of 612.8 billion won ($408 million), the Korea Herald reported. Investment bank Samsung Securities is set to take a 2% stake in Dunamu in a 306 billion-won cash transaction, from affiliates of […]
The crypto market is at a critical point on Wednesday, with bitcoin BTC$75,813.04 priced close to the $75,000 level of support after failing to break through $78,000 on Tuesday. Ether’s (ETH) chart tells a similar story. The second-largest cryptocurrency by market capitalization was rejected off $2,150 on Tuesday, and fell toward the $2,000 support level. […]
Bitcoin BTC$77,368.07 traded at $76,600 on Tuesday, down 0.8% since midnight UTC, as Monday’s brief bounce to $77,800 fades. The move leaves the largest cryptocurrency potentially forming another lower high in a bearish structure that has been in place since October, and down 7% over the past two weeks. The weakness is not reflected in […]
The Ethereum Foundation and a group of major crypto wallet developers are rolling out a new security standard designed to stop users from accidentally signing away their funds, a problem that has fueled some of the industry’s biggest hacks and scams. The initiative, called “Clear Signing,” aims to replace the confusing walls of code users […]
Payward, the parent company of crypto platform Kraken, is raising new capital at a $20 billion valuation, according to two people with knowledge of the matter. Kraken declined to comment on the raise. The latest fundraising round comes as the company ramps up spending on takeovers. Most recently, it bought stablecoin-focused payments firm Reap for […]