Author: Crypto News
Last updated: May 7, 2024 04:47 EDT | 5 min read Bitcoin Price PredictionBitcoin failed to continue its upward trend despite multiple supporting factors such as a bearish US dollar and a dovish stance from the Federal Reserve. It lost some of its gains, dropping to around 63,400 and hitting an intraday low of 62,961.Although Bitcoin began the week on a bullish note after dipping to a low of $56,000 last week, it surged to $64,000 on Monday, spurred by a cooler-than-expected US April jobs report. The report suggested a slowing economy, which could lead to reduced inflation and lower…
Last updated: May 7, 2024 03:27 EDT | 2 min read Polygon, a prominent Ethereum layer-2 developer, has introduced the alpha version testnet of its latest zero-knowledge (ZK)-rollup solution named Miden.In a post on May 6, Polygon announced that the Polygon Miden Alpha Testnet zero-knowledge is now live, enabling developers to initiate testing. Miden is a ZK-rollup specifically designed to enhance the capabilities of the Ethereum blockchain.Miden Incorporates Client-Side ProvingSimilar to other ZK-rollups, Polygon’s latest solution utilizes a cryptographic technique that allows data to be verified or “proved” without disclosing its contents to the rest of the network. Miden also incorporates client-side proving, which…
Last updated: May 7, 2024 02:30 EDT | 2 min read Public mining companies have reported decreases in Bitcoin production ranging from 6% to 12% for the month of April following the halving event. Major Bitcoin miners, including Bitfarms, Cipher, CleanSpark, Core Scientific, Riot, and Terawulf, were all affected, according to a report from The Miner Mag. However, the report said that the robust Bitcoin fee market briefly mitigated the impact of the halving on these companies. Public bitcoin mining companies such as Bitfarms, Cipher, CleanSpark, Core Scientific, Riot, and Terawulf reported a production decline between 6 – 12% for April as the robust bitcoin fee market…
With its focus on a community-centric approach to giving crypto startups a path toward growth, BlastUP has emerged as the first launchpad on the Blast network.Lending Web3 teams a unique way to raise funds in an eco-friendly and safe environment, BlastUP is sticking strictly to its “Grow Faster, Earn More” ethos.As the first Ethereum L2 protocol offering native yields for ETH and stablecoins, Blast has set records by becoming the fastest to reach a TVL of 1 billion in 35 days.Inclusive, decentralized, and innovative, BlastUP is carving its own niche within the crypto launchpad sector.Furthermore, the platform has also made…
Last updated: May 7, 2024 00:40 EDT | 1 min read The Australian Tax Office is demanding annual transaction details from crypto exchanges in a move to tackle potential tax evasion. This crackdown aims to ensure investors correctly report their crypto gains and pay any capital gains taxes owed.Announced in April, the data collection program requires designated exchanges to provide certain information. This includes client names, addresses, birthdays, and transaction details. It is aimed at promoting a fair and balanced tax system.The office acknowledged the complexities of using crypto, which can cause confusion among users regarding their tax responsibilities.“Also, the…
Last updated: May 6, 2024 23:41 EDT | 2 min read The Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam said cryptocurrency firms can expect to see more enforcement action from U.S. regulators in the next 6 to 24 months as retail interest in the asset class increases.Expect to see “another cycle of enforcement actions” in the cryptocurrency space warns CFTC Chairman Behnam speaking at the 27th annual Milken Global Conference on Monday.The U.S. Securities and Exchange Commission (SEC) has been busy actively pursuing legal challenges against several cryptocurrency firms and ramping up its crackdown on trading. Most recently the…
Last updated: May 6, 2024 23:00 EDT | 1 min read Only a small fraction of French crypto holders have declared their coins to the state, a report claimed – with the government set to take action.Per the French IT magazine Clubic, the Ministry of Public Action and Accounts and the nation’s tax bodies are preparing to act.They have been spurred into action after just 150,000 French residents “correctly declared their cryptoassets” at the end of the past financial year.French Crypto Holders ‘Under-declare’ Holdings?According to European Central Bank (ECB) estimates, “some 5 million French people hold cryptoassets including Bitcoin (BTC).”…
Last updated: May 6, 2024 19:34 EDT | 1 min read The largest Bitcoin miners have published their monthly performance figures for the first time since the Bitcoin network’s fourth halving event last month.The impact of the halving on the mining industry has been small thus far but still noticeable.Bitcoin Miners Still Performing Post-HalvingCleanSpark (CLSK) – the second-largest Bitcoin miner by market cap at $3.92 billion – mined 721 BTC in April compared to 806 BTC in March, its monthly investor report states.CLSK is currently one of the best-performing Bitcoin mining stocks year to date, surging 60% while other mining…
Last updated: May 6, 2024 19:30 EDT | 1 min read South Korea’s Bithumb crypto exchange may re-appoint its CEO Lee Jae-won, as the trading platform seeks to complete its planned IPO.Per Business Post, Lee’s two-year term as Bithumb boss expires later this month. But industry figures believe he will be reappointed as the firm tries to fast-track its public offering plans.Trading volumes on South Korea’s Bithumb crypto exchange over the past month. (Source: CoinGecko)South Korea’s Bithumb Aiming for National IPO FirstBithumb wants to become the first crypto exchange to go public on the Korea Exchange.The firm has reportedly developed…
Last updated: May 6, 2024 19:21 EDT | 2 min read A May 6 transfer of $8.3 million associated with the now-bankrupt FTX exchange and its sister trading firm, Alameda Research, has raised questions about the future of creditors awaiting compensation.The transfer occurred just a day before FTX debtors were scheduled to release an amended restructuring plan for the exchange, adding a layer of intrigue to an already complex situation.FTX and Almada Research: A Friend In Crime #PeckShieldAlert #Alameda/#FTX-labeled addresses transferred ~2K $ETH (worth ~$6.3m) out & 860 $XAUT (worth ~$2m) to #wintermute pic.twitter.com/2ndnnGhAj2 — PeckShieldAlert (@PeckShieldAlert) May 6, 2024According…