Tesla and Spacex CEO Elon Musk says that the U.S. economy is probably in a recession and it could be “tough going” for 12 to 18 months. He added: “The honest reason for inflation is that the government printed a zillion more money than it had.” Elon Musk on U.S. Recession and Inflation Elon Musk,
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Global crypto derivatives exchange BitMEX is expanding its platform beyond just derivatives by finally launching a spot crypto trading platform. BitMEX officially announced on May 17 that its spot crypto exchange, the BitMEX Spot Exchange, is now live, allowing retail and institutional investors to buy, sell and trade cryptocurrencies like Bitcoin (BTC) and Ether (ETH).
Bitcoin (BTC) returned to $30,500 on May 17 amid hopes that a retest of 2017 highs could be avoided. $20,000 retest ‘highly unlikely’ Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing after the daily close to tentatively build on $30,000. Still, in a multi-day range, the pair was yet to decide on a
Portugal, one of the countries considered a crypto tax haven due to its absence of crypto-related taxation, is preparing to change this policy. Fernando Medina, minister of finance of Portugal, stated that the country is working on a framework to allow the taxation of cryptocurrency income gains following the principles of “justice” and “efficiency,” and
Bitcoin (BTC) bounced 19% from the $25,400 low on May 12, but has investor confidence in the market been restored? Judging by the ascending channel formation, it’s possible that bulls at least have plans to recover the $30,000 level in the short term. Does derivatives data support reclaiming $30,000, or is Bitcoin potentially heading to
Bitcoin (BTC) starts a new week under $30,000 as the battle to save the market from fresh lows grinds on. After hitting its highest since the Terra LUNA crash last week, the largest cryptocurrency nonetheless continues to fail to reclaim $30,000 as support. What could be in store this week? The potential for major upheaval from macro
The Tezos Foundation recently said it has committed $1.23 million to a fund that will be used to collect non-fungible tokens (NFTs) created by African and Asian artists. Photographer Misan Harriman has been selected as the curator of the foundation’s permanent art collection. Supporting a New Generation of Artists The Swiss non-profit organization, Tezos Foundation,
Investors familiar with the concept of equity investing will find equity tokens to be an extension of the same thought process as initial public offerings while those with a riskier appetite can venture into plonking their capital on the utility tokens in which they believe. One glaring difference between utility and equity tokens is the
There was a time when all cryptocurrencies traded against Bitcoin (BTC). Speculators ventured into other coins when they saw assuring tokenomics or promising hype, but Bitcoin was their settlement coin of choice. Things have changed. Stablecoins now constitute a critical $150 billion pillar in the cryptocurrency market. Perpetual futures over-amplify market sentiment and, more often
Law enforcement and other authorities in Dagestan have closed down two illegal crypto farms, confiscating more than 1,500 mining machines. Government agencies in the republic, considered one of Russia’s capitals of underground coin minting, carry out regular raids against such facilities. Cryptocurrency Miners in Dagestan Accused of ‘Illegal Entrepreneurship’ Officers from the Ministry of Internal
Accessibility is a pain point for cryptocurrency adoption that has been discussed for years, yet still, it is pertinent as ever. This issue was most recently recognized by the United States government as we’ve seen Treasury Secretary Janet Yellen discuss during her remarks on digital assets policy and regulation. There are barriers that are limiting
CryptoWendyO heard about Bitcoin (BTC) on the radio and decided to take a risk. Little did she know, the risk she would take would change her life in ways she never thought possible. The influencer shared her Bitcoin journey in this episode of Crypto Stories. [embedded content] In her younger days, life wasn’t too kind
Further distancing itself from any concerns of planned attacks on the blockchain, the Bitcoin (BTC) network established a new mining difficulty all-time high of 31.251 trillion — exceeding the 30-trillion mark for the first time in history. The creator of Bitcoin, Satoshi Nakamoto, warranted the security of the BTC network through a decentralized network of
It has been a rough week for the cryptocurrency market, primarily because of the Terra ecosystem collapse and its knock-on effect on Bitcoin (BTC), Ethereum (ETH) and altcoin prices, plus the panic selling that took place after stablecoins lost their peg to the U.S. dollar. The bearish headwinds for the crypto market have been building since
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News
The German Ministry of Finance has published a letter officially confirming that the sale of crypto assets is tax-free after one year even if the coins are used for staking and lending. How Crypto Gains Are Taxed in Germany The German Ministry of Finance announced Wednesday that it has published a letter on the income
Following tweets from Terra founder Do Kwon, LUNA surged by over 1,500% on Saturday. However, with several exchanges halting deposits, only those who entered at the very bottom have seen these gains. This comes as AVAX and NEAR both fell by over 20%. Avalanche (AVAX) Although LUNA was undoubtedly today’s biggest gainer, recent volatility and
A commissioner with the U.S. Securities and Exchange Commission (SEC) expects to see stricter regulation on stablecoins. However, Treasury Secretary Janet Yellen says stablecoins are currently “not a real threat” to the country’s financial stability. SEC Commissioner on Stablecoin Regulation The regulation of stablecoins has been a hot topic this week following the Terra fiasco
Officials from the U.S., U.K., Canada, Australia, and the Netherlands have shared data and identified more than 50 crypto-related criminal leads, including one case that could be a $1 billion Ponzi scheme. Officials Share Data on Global Crypto Crime The heads of tax enforcement from the Joint Chiefs of Global Tax Enforcement (J5) countries met
Authorities in Iran have shut down close to 7,000 unauthorized facilities for cryptocurrency mining in the past two years, local media revealed. According to a report, most of the illegal bitcoin farms were concentrated in five provinces of the Islamic Republic, including Tehran. Iran Continues Crackdown on Unlicensed Cryptocurrency Mining Iranian officials have unplugged and