Montenegrin authorities have extradited cryptocurrency entrepreneur Kwon Do-kwon to the United States on fraud charges related to the collapse of the $40 billion Terra ecosystem in 2022. According to Reuters, Terraform Labs co-founder Kwon was arrested in Montenegro in March while trying to board a plane using a fake Costa Rican passport. He has been evading authorities since the TerraUSD and Luna cryptocurrencies crashed in May 2022. This extradition follows the Montenegrin Constitutional Court’s rejection of Kwon’s final appeal. “We conclude that most of the standards set forth in the law support the extradition request by U.S. authorities. Accordingly, the…
Author: Crypto Flexs
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HighlightsBinance Labs said it has invested in 46 projects in 2024.Venture capital organizations have emphasized their commitment to diversity among their funding recipients. Binance Labs is entering the new year with rebranding plans. This marks a good start to 2025, which has been named the “Year of the Tree Snake.” In a recent post on X, the venture capital platform highlighted some of its key achievements for 2024. First, Binance Labs stated that it plans to focus on the fundamentals and achieve long-term impact. We reiterated our plans to continue providing support to founders who share this vision. Binance Labs…
Chainlink has seen a surge in dormant circulation among long-term holders following the $30 rejection. A lack of confidence among major shareholders meant the rally was unlikely to continue. Chainlink (LINK) experienced a “Trump pump” earlier this month, posting a one-day gain of 21% following the purchase of $1 million worth of LINK tokens by Trump-affiliated World Liberty Financial (WLF). Over the past two weeks, some on-chain indicators have shown increased selling pressure on whales. A price movement to $30 was used to lock in profits. Can we expect Chainlink accumulation above $20 and a renewal of upward momentum? Whale…
The U.S. Internal Revenue Service (IRS) has issued temporary relief against rules that force cryptocurrency holders on centralized exchanges to default on less-than-ideal accounting practices. An initial IRS ruling stated that if investors holding cryptocurrency assets with a CeFi broker do not select a preferred accounting method such as Highest In, First Out (HIFO) or Spec ID, the broker will default to reporting sales using the FIFO method. Yes.FIFO, also known as “First In First Out,” is the primary method of calculating capital gains taxes in the United States. This is calculated by assuming that the oldest cryptocurrencies are sold…
If you are a cryptocurrency investor, cryptocurrency taxes are an important topic. Yes. Cryptocurrencies continue to change the global financial landscape. But governments around the world are grappling with how to regulate and tax this market. While some countries have imposed strict taxes or outright banned cryptocurrencies, others have embraced the digital revolution by providing a tax-friendly environment to attract investors and businesses. Let’s take a look at the 15 most cryptocurrency-friendly countries in 2024, their tax policies, and how individuals can legally reduce their cryptocurrency tax burden. Why are cryptocurrency tax havens important? Cryptocurrencies are generally treated as capital…
Several cryptocurrency projects that experienced significant growth in 2024 are expected to hold token generation events (TGEs) in the first quarter of 2025. Platforms such as Monad and Pump.fun attracted large investments throughout the year, driven by increased engagement and key developments. These projects are likely to launch their own tokens in the first quarter. Upcoming TGE to lead competition in cryptocurrency market Blockchain analyst Colin Wu posted a list of potential TGE projects on social media, although there wasn’t much comment to explain the team’s reasoning. Analysts previously predicted the launch of HyperLiquid’s HYPE token by the end of…
EthereumThe long-term outlook appears to be very positive, as we are seeing a wave of optimistic predictions for ETH moving to unprecedented levels in the ongoing market cycle. As ETH navigates its way through a phase of volatility, a change in momentum could signal the start of the next major price surge. The $8,000 price target remains within reach for Ethereum. Amid worsening market conditions, cryptocurrency expert and investor Trader Tardigrade said: point out Optimistic future for Ethereum in recent analysis. Notably, the analyst argued that the altcoin’s path to new all-time highs is unperturbed by the ongoing situation. market…
One prominent cryptocurrency analyst remains bullish on Memcoin, which has already fallen more than 4,000% in two months. A pseudonymous trader known as Altcoin Sherpa tells his 236,500 followers on social media platform “I’m getting close to buying, having filled around $0.80. Total purchases = Some purchases moved to $1, additional purchases moved to $0.80, and others moved to $0.65. Still, I hope the average stays below $0.80. I still think this is a good meme, and I hope it doesn’t attract goats/acts/etc after it gets listed.” Source: Altcoin Sherpa/X FARTCOIN is trading at $0.81 at the time of this…
2024 was an important year for cryptocurrencies and blockchain networks. In the United States, we saw the launch of exchange-traded funds (ETFs) for Bitcoin (BTC) and Ethereum (ETH), major protocol upgrades for altcoins, and the launch of new infrastructure networks.Here are 10 cryptocurrency projects that have implemented major protocol upgrades or launched their mainnet in 2024, without any particular ranking.Avalanche9000/Etna Protocol UpgradeConsidered the largest upgrade in the protocol’s history, the Avalanche network’s Avalanche9000 upgrade, also known as Etna, was released on the Avalanche mainnet on December 16 after a testing phase on the Fuji testnet.The update simplifies the subnet startup…
Funding rates indicate a potential recovery for ETH. Funding rates, a key indicator of market sentiment in futures markets, provide important evidence that trader behavior changes during the consolidation phase. Source: CryptoQuant Ethereum’s ability to remain firmly above $3,000 support has created an opportunity for optimistic market participants to regain ground. This change is reflected in a noticeable increase in funding rates, highlighting an increase in long positions as traders position themselves for a potential trend reversal. Rising funding rates highlight increased demand and are often interpreted as increased confidence in the asset’s recovery potential. If this momentum continues, Ethereum…