Category Archive: Cryptocurrency, No picture
Bitcoin and Ethereum Could See a Liquidity Crisis
Key Takeaways Exchange balances have seen a steep drop in the last two days. Research from Jarvis Labs analyst Benjamin Lilly points to an imminent liquidity crisis of Ether on exchanges. In comparison to the previous two bullish cycles, the market flow data points to more upside. Bitcoin and Ethereum are being withdrawn from exchanges […]
Bitcoin to Become the Global Reserve Asset, Says Bloomberg
Key Takeaways According to Bloomberg, Bitcoin would replace gold as the global digital-reserve asset. Although the digital asset is undergoing a consolidation period, the firm believes that there is a higher probability that it will advance further. The most conservative target cited in the report puts Bitcoin at $80,000, while the most bullish one sees […]
Investor or Creator? How to Pay Taxes on NFTs
Key Takeaways NFTs are property, just like Bitcoin and Ethereum. NFT creators will pay ordinary income tax as they would when producing and selling a physical product. NFT investors could have their property taxed as collectibles, bringing a higher long-term capital gains rate. The NFT market is booming, but many participants are still in the […]
Instadapp Launches Governance Token, Introduces “DeFi Smart Layer”
Key Takeaways Instadapp has launched a single layer DeFi protocol, integrating governance and Layer 2 solutions. The protocol will soon launch its own governance token, INST. INST will be dropped to Instadapp users in Q2. This news was brought to you by ANKR, our preferred DeFi Partner. Instadapp, one of DeFi’s most popular portfolio management […]
Former BitMEX CEO Arthur Hayes Surrenders to US Authorities
Key Takeaways Arthur Hayes surrendered in Hawaii and has already posted a $10 million bail. Of the four BitMEX co-founders, only Greg Dwyer isn’t cooperating with U.S. authorities. BitMEX continues to have some of the highest volume for crypto derivatives exchanges. This news was brought to you by Phemex, our preferred Derivatives Partner. After living […]
Earnings Report Reveals Coinbase Now Head-to-Head With NYSE, NASDAQ
Key Takeaways Coinbase’s earnings before tax and interest in Q1 surpassed PayPal’s annual earnings in 2020 and was at par with NASDAQ. Coinbase’s projected revenue for this year is $7.2 billion. The price of pre-market tokenized COIN shares on FTX gained 3% after the announcement. This Exchange News was brought to you by OKCoin, our […]
Algorithmic Stablecoin Crashes 50% as Devs Scramble for a Fix
Key Takeaways Fei stablecoin projects failed to maintain the U.S. dollar peg as FEI price fell to lows below $0.5 briefly this morning. Ether worth $1.2 billion is locked in the Fei smart contract, entangled by protocol rules. The developers have halted yield farming on the platform as they attempt to fix the underlying problem. […]
Coinbase’s Q1 Call Reveals Growth, Product Roadmap
Key Takeaways Coinbase broadcast its Q1 earnings call today, featuring CFO Alesia Haas and CEO Brian Armstrong. The executives revealed Coinbase’s expected future growth, plus its plans for new features and supported assets. However, the executives spent almost no time discussing Coinbase’s IPO, which will take place next week. This Exchange News was brought to […]
dYdX Has Launched Layer 2 Perpetual Contracts
Key Takeaways dYdX has released a new version of its derivatives trading platform that offers low fees and reduced confirmation times. The new version is designed to tackle scalability, one of the greatest challenges facing decentralized finance (DeFi). This version reduces the barrier to entry by removing the onboarding process that other exchanges require. This […]
Playboy Partners With Nifty Gateway NFT Platform
This news was brought to you by ANKR, our preferred DeFi Partner. Playboy announced the partnership along with multiple artist collaborations and curations earlier today. Playboy Bunnies on the Blockchain Nifty Gateway is an NFT platform owned by the Gemini exchange, focusing on the sale of digital art. Playboy Enterprises, a media company most known […]
