Top news of the week The IRS issues rules for reporting digital assets and says the front end is brokers. The Internal Revenue Service (IRS) has issued final regulations requiring brokers to report digital asset transactions, expanding existing reporting requirements to enable front-end platforms (e.g. decentralized exchanges) that facilitate digital asset-related transactions for their clients. I included it. The rules, scheduled to take effect in 2027, require brokers to disclose gross proceeds from the sale of cryptocurrencies and other digital assets, including information about taxpayers involved in the transactions. The final rule states that “the only DeFi participants treated as…
Author: Crypto Flexs
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Montenegro’s Justice Minister Bojan Božović said Friday that Terraform founder Do Kwon would be extradited to the United States.The U.S. and South Korean governments have been seeking custody of Kwon to face criminal charges related to the collapse of the algorithmic stablecoin Terra/Luna system, which triggered a series of high-profile collapses, including FTX’s, in 2022. Kwon, who was arrested in Montenegro in March 2023 and sentenced to several months in prison for passport forgery, has been fighting extradition to the United States for over a year. Several courts in the country have ruled in favor of the United States or…
TRON fee revenues will reach an all-time high in 2024, signaling increased adoption. Market fundamentals point to a potential trend reversal for TRX Since hitting its recent high of $4.5 three weeks ago, Tron (TRX) has been putting strong downward pressure on the charts. In fact, the altcoin has not fully recovered since hitting a low of $0.22. At the time of writing, the cryptocurrency appears to be trading within a consolidated range between $0.22 and $0.26. Despite TRX failing to maintain an upward trend on the price chart, network adoption and usage surged throughout the year. TRON achieved its…
Dogecoin (DOGE) price action has slowed over the past four weeks after breaking the multi-month resistance level of $0.35 in early November.Dogecoin 1-day chart. Source: Cointelegraph/TradingViewAlthough the daily charts remain bullish, the cryptocurrency asset lost support at the 50-day EMA level on December 19 and is yet to regain its position above the indicator. Despite these short-term concerns, one analyst emphasized that Dogecoin’s long-term targets remain quite high for 2025, considering its previous bullish performance. The Dogecoin target is between $2.35 and $2.60.The CEO, an anonymous cryptocurrency investor, told his 536,000 X followers that Dogecoin is headed for a massive…
CryptoQuant CEO and founder Joo Ki-young said President-elect Donald Trump’s Bitcoin (BTC) policies will likely depend on the perceived strength of the U.S. economy and the U.S. dollar by the global investment community.Professor Joo argued that when investors perceive a threat to U.S. economic hegemony, the prices of store-of-value assets such as gold and BTC soar. However, investors continue to express confidence in the U.S. economy and view the U.S. dollar as a safe haven currency.The CEO said this strong stance makes it unlikely that the Trump administration will adopt a Bitcoin strategic reserve to protect the US dollar’s dominance…
As a cryptocurrency investor and trader, it is difficult to keep up with cryptocurrency prices that can fluctuate significantly within minutes and the market is open 24 hours a day.We may not be able to react quickly to price changes to achieve the best deal. Since you cannot monitor the market 24 hours a day, it is difficult to capture every trading opportunity.age AI Trading Bot We have it. By automating these trading bots to execute trades around the clock, you can ensure you never miss a potential market opportunity.But how does it work and can you benefit more from…
A widely followed cryptocurrency analyst is sounding a warning about one of the popular utility altcoins, saying it could see a slow decline. Bluntz, a pseudonymous cryptocurrency trader, told his 305,200 followers on social media platform According to Bluntz, who applies Elliott Wave theory to technical analysis, HYPE appears to have completed its five-wave rally and is now entering an ABC correction wave that will last until early next year. According to Elliott Wave theory, bullish assets tend to witness ABC corrections after completing a five-wave upward movement. “HYPE has performed well, but here awareness is at its peak and…
Toncoin’s risk exposure ratio is rising, indicating market confidence. Market indicators suggest that TON could confirm a trend reversal and take profits. On the weekly chart, Toncoin (TON) recovered modestly on the price chart. During this period, the altcoin soared from a local low of $4.7 to a high of $6.09. However, over the past three days, altcoins have rebounded somewhat. In fact, at the time of writing, Toncoin is trading at $5.66, down 0.98% in the last 24 hours. This comes after the altcoin fell 10.81% on the monthly chart. This market volatility has analysts talking about it. One…
Despite optimistic expectations for the upcoming altcoin season due to more cryptocurrency-friendly regulations in 2025, artificial intelligence (AI) cryptocurrencies have lost nearly a third of their cumulative value.According to CoinMarketCap data, the AI cryptocurrency’s cumulative market capitalization was $50.5 billion as of 7:15 a.m. UTC, down more than 28% from its peak of $70.4 billion on December 7.AI cryptocurrency market capitalization. This is a 1 month chart. Source: CoinMarketCapCumulative trading volume led by AI tokens has also decreased by about 11% over the past month, currently at $4.73 billion, suggesting a decline in trader interest in AI cryptocurrencies.According to data…
Iris Coleman December 28, 2024 09:34 Injective (INJ) and Aethir are collaborating to tokenize GPU computing resources, improving access and efficiency in the AI and blockchain sectors through a new tradable token system. In a significant advancement in the AI and blockchain space, Injective (INJ) and Aethir announced a partnership to revolutionize the GPU computing landscape by introducing tokenization. According to the Injective blog, this collaboration will transform the way GPU resources are allocated, providing flexible and cost-effective solutions for developers, researchers, and institutions. Unlock GPU access for AI Graphics processing units (GPUs) have…