NOT Financial News

What are your odds of being audited?

Swedish crypto tax firm Divly has released a new report that estimates that only 0.53% of crypto investors globally paid tax on their crypto in 2022 — however tax experts have cast doubt on the figures and methodology. 

Bitcoin (BTC) might have shown strength after successfully defending the $28,000 support amid unfounded rumors regarding Binance, but an interesting development to note is BTC is becoming less correlated to traditional markets after the U.S. Federal Reserve elected to provide emergency liquidity to banks. 

HONG KONG—China’s property market appears to have stabilized after a two-year downturn. But one problem continues to hold back its recovery: a major oversupply of unsold apartments.

bitcoin soared above $25,000, reaching a threshold the digital currency hadn’t touched since June. This week, bitcoin reached nearly $30,000, up 70% for the year. Bitcoin proponents seized on the price rise to argue that the banking crisis was prompting investors to convert traditional currencies into digital coins. One crypto executive hailed the bank failures as “the end of the USD and the dawn of hyperbitcoinization.” A company that markets bitcoin to investors started putting references to the bank runs in its promotional materials. But despite the fanfare, there is little evidence that the recent banking collapse has generated widespread support for bitcoin as a financial alternative. Instead, the surge in bitcoin’s price was driven by a range of financial trends that have little to do with the technology’s philosophical underpinnings, analysts said. The reasons for the surge include growing optimism that the Federal Reserve may pause interest rate increases, as well as increasing concerns about the safety of so-called stablecoins, a type of cryptocurrency intended to maintain a price of $1.

Fantom’s [FTM] NFT ecosystem has been active lately, with the Magiccats collection topping the chart in terms of the trading volume.

Disgraced FTX founder Sam Bankman-Fried has pleaded not guilty to five additional charges brought against him in federal court in the US.

San Francisco Fed President Mary Daly, whose district saw the second-largest bank failure in U.S. history and who has become a target of criticism, would not have typically been a key player in Silicon Valley Bank's supervision, several former and current fed officials told CNBC.

Europe learned its lessons after the financial crisis and is now in a strong position to weather further stress in its banking system, several economists and policymakers say.

The United States Senator for Massachusetts Elizabeth Warren is making her “anti-crypto” agenda one of the centerpieces of her re-election campaign, despite polls suggesting the majority of Americans think crypto is a key innovation for the future.

BO'AO, China — China's small banks have problems — but they don't carry the same risks as those exposed by the collapse of Silicon Valley Bank, said Zhu Min, vice president of the China Center for International Economic Exchanges, a state-backed think tank.

Lawyers for former FTX chief executive officer Sam Bankman-Fried have entered a not guilty plea for five additional charges since his December 2022 arraignment, including allegations of bribery.

Crypto-friendly fintech Revolut is reportedly having some issues related to its recently released annual report for the year ending December 2021.

DeFi execs at a WOW Summit panel argued that implementing “Know Your Customer” (KYC) measures will tackle the “biggest issue” in decentralized finance (DeFi), which is hackers laundering millions of stolen funds into “clean money.”

Bitcoin (BTC) may have erased its Binance “FUD” losses, but popular traders are anything but bullish.

Mike Novogratz, the CEO of digital asset investment firm Galaxy Digital told investors he is shocked over the amount of regulatory attention for crypto rather than artificial intelligence (AI), a technology he believes will trigger a “deep fake” identity crisis.

Solana [SOL] has been in muddy waters for quite some time, having been on the receiving end of criticism due to its frequent downtimes. However, new data revealed that there was a spike in the number of transactions being made on the network.

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Coinmetrics co-founder Nic Carter recently appeared in a podcast hosted by Dan Romero and Erik Torenberg. Carter, who also serves as a partner at Castle Island Ventures, shared his thoughts on the recent developments in the crypto and banking industry. 

The metaverse has the potential to be the next frontier of human interaction, as evidenced by the amount of activity that continues to pour into the space.

Japan is set to make another attempt to convince G7 and G20 leaders to adopt streamlined crypto regulations.