A proposed new tax form, Form 1099-DA “Digital Asset Proceeds from Broker Transactions,” for reporting digital asset transaction profits has been made public by the United States Internal Revenue Service (IRS), the nation’s tax agency. The form is anticipated to be implemented in 2025 with reporting scheduled for 2026. Feedback
The amount of bitcoin that miners have on hand has dropped significantly, according to statistics published by IntoTheBlock. The market recently witnessed the highly anticipated halving event for Bitcoin, and these reserves are at their lowest level in the previous 12 years. The top three mining pools, which include Viabtc,
After suffering outflows earlier in the week, spot Bitcoin exchange-traded funds (ETFs) in the U.S saw a rebound on Friday with inflows of about $60 million. As investors rejoice over Bitcoin’s fourth successful halving, BlackRock (IBIT) and Fidelity (FBTC) saw increased inflows. Bloomberg and Farside Investors reported on April 20
Merlin Chain, the largest Bitcoin Layer 2 protocol by total value locked (TVL), is thrilled to announce the launch of its native token, $MERL. As a significant enhancement to the Bitcoin network, Merlin Chain facilitates the rapid growth of decentralized applications (DApps) across various sectors, including decentralized finance (DeFi), gaming
The newest comment made by Bitwise CEO Hunter Horsley on the price of Bitcoin after the halving has caused a commotion in the crypto community. The chief executive officer expressed a feeling of continued optimism over Bitcoin’s ability to reach $100,000 after today’s halving event, which sparked a frenzy among
Jamie Dimon, CEO of JPMorgan, remains a formidable adversary to Bitcoin. According to Dimon, it is not a real currency but rather a swindle. Dimon admitted his skepticism about the veracity and practicality of digital currencies like Bitcoin during a recent interview with Bloomberg TV. He reiterated his belief that
Google searches related to the Bitcoin halving have reached an all-time high, with forecasts indicating that they will be more than twice as popular as the last halving in 2020. If Google Trends is to be believed, the phrase “Bitcoin halving” will reach an anticipated score of 100 by the
A substantial spike in Bitcoin withdrawals from exchanges has been uncovered in a recent data study by CryptoQuant on X. There seems to have been a dramatic change in investor sentiment, since this pattern points to a major accumulating period in the crypto market. This rise is particularly noteworthy since
Venture capital company X21 Digital is leading the $3 million initial investment round for Atomiq DeFi, a decentralized finance platform. The world’s first atomic-swap powered decentralized exchange (DEX) on Bitcoin, developed with the help of the Mintlayer layer-2 protocol, will be supported by the recent additional financial infusion. The initiative
On April 16, 2024, a lawsuit was filed against the United States Securities and Exchange Commission (SEC) in relation to the Consolidated Audit Trail (CAT), a system that was put in place to collect comprehensive transaction data from U.S. exchanges. The National Center for Public Policy Research and investors are
