Crypto Market Turmoil: Bitcoin Drops Below $60K
Category: Crypto Total Views: 92By : Dylan Bailey Updated: 08-05-2024
Bitcoin Falls Below $60,000 Amid Market Sell-Off
Bitcoin fell under $60,000, signifying a notable collapse in the market for the cryptocurrency. The sell-off lasted through its fourth day, aggravating investor losses. Based on CoinGecko statistics, Bitcoin dropped to a three-week low trading at $59,400. This fall matched a larger market collapse influencing several digital assets. The unexpected drop in Bitcoin's value led to traders' general frenzy. The volatility of the ... Read More
Bitcoin Falls Below $63K Amid Market Volatility
Category: Crypto Total Views: 95By : Ryan Hughes Updated: 08-04-2024
Bitcoin Dips Below $63K Amid Market Turbulence
The bitcoin market has seen a notable downturn as the price of the coin recently dropped below $63,000. The decline happened even with an early attempt at a rally during American trade hours. Different elements influencing the market are causing increased worry among investors. Mirroring a notable downturn in equity markets, Bitcoin dropped 4% in just ninety minutes. The great volatility of the market helps to explain the declining tr... Read More
Girin Labs Secures First Global Funding Outside Korea
Category: Crypto Total Views: 186By : Riley Hayes Updated: 07-31-2024
Girin Labs Secures Landmark Funding from XRPL Japan and Korea Fund
The XRPL Japan and Korea Fund has provided large sums of money to Girin Labs, a Web3 venture studio based in Korea. Supported by Ripple, this fund is meant to inspire creativity inside the XRP Ledger (XRPL) ecosystem. This investment represents the first time Girin Labs has gotten outside of Korea worldwide financing. The capital infusion will help Girin Labs to quicken its initiatives for development. Their main a... Read More
Trump Supports Crypto with New Bitcoin Reserve Plan
Category: Crypto Total Views: 124By : Dylan Bailey Updated: 07-27-2024
Trump Champions U.S. Bitcoin Reserve at Bitcoin Conference
At the Bitcoin Conference in Nashville, former US President Donald Trump declared his endorsement of a strategic national bitcoin reserve. He underlined the need to keep the government's seized bitcoin intact and never sell it. This action seeks to confirm his ranking as the preferred candidate for the crypto community. With his audacious crypto policies, Trump's speech drew in over 3,000 people. The announcement fit... Read More
IRS Enhances Crypto Tax Compliance with New Rules
Category: Crypto Total Views: 144By : Thomas Cooper Updated: 07-01-2024
Introduction to the New IRS Guidance on Crypto Tax Reporting
The IRS has published final guidelines for digital asset brokers' tax reporting. These guidelines reflect an attempt to guarantee compliance among high earners. Yearly reporting will become required beginning in 2026. Using Form 1099-DA, digital currency brokers must report gross sales proceeds in 2025. Brokers have to include the cost basis for some sold digital assets by 2027, based on 2026. This direction seeks to... Read More