To the chagrin of many Golden Visa seekers, Portuguese Finance Minister Fernando Medina has confirmed that his country will begin taxing cryptocurrency but has not committed to a date. The move to start taxing crypto was seconded by Secretary of State for Tax Affairs António Mendonça Mendes on May 13 according to Sapo, a local
Ethereum hashrate has been on the rise in recent times. The cryptocurrency has been one of the most profitable ventures for crypto miners and as more people flocked to enjoy some of the spoils, the hashrate has skyrocketed. It has now hit multiple all-time highs in just the space of May alone. However, the question
Bitcoin (BTC) bounced 19% from the $25,400 low on May 12, but has investor confidence in the market been restored? Judging by the ascending channel formation, it’s possible that bulls at least have plans to recover the $30,000 level in the short term. Bitcoin/USD 4-hour price at Bitstamp. Source: TradingView Does derivatives data support reclaiming
The selling in Bitcoin (BTC) is showing no sign of abating and Bitcoin has fallen for seven straight weeks for the first time ever. This indicates that the momentum remains strongly in favor of the bears. While the short-term sentiment remains bearish, institutional traders seem to be taking a longer-term approach on cryptocurrencies. Goldman Sachs
Winston Churchill’s statement to “never let a crisis go to waste” can be applied across many aspects of society, including the recent carnage seen in the crypto market. Last week’s volatility is likely to have newer investors and those who took on heavy losses questioning the future of the burgeoning asset class, but in every
Its been a rough couple of weeks for the cryptocurrency market. Bitcoin (BTC) price is nowhere near the price estimates of most analysts, multiple stablecoins lost their peg and the demise of one of the top decentralized finance (DeFi) platforms sparked an event that resulted in $900 billion vanishing from the total crypto market capitalization. In
Fabio Panetta, an executive board member of the European Central Bank, or ECB, has said that a digital euro could come within four years, potentially designed with a person-to-person payment solution. In a Monday speech at the National College of Ireland, Panetta said the ECB could start the development and testing of solutions toward providing
An op-ed article published in the state-backed Chinese publication Economic Daily, has suggested that the recent crash of the Terra blockchain’s LUNA and the de-pegging of the UST stablecoin vindicate the Asian country’s decision to ban crypto-related activities. In the article, the author names the interest rate hikes by the U.S. Federal Reserve and the
Over-the-counter, or OTC, trading refers to any trading that is not done via an automated exchange. What exactly is OTC trading? Who does it, and why? To learn more about what an OTC desk is and how these “under the radar” exchanges operate, Magazine spoke to a few insiders to get the scoop. The most
On Monday, Do Kwon, co-founder of the troubled Terra Luna blockchain, announced a revised plan to restore the ecosystem after a combination of significant market volatility and inherent protocol design flaws wiped out a vast majority of the blockchain’s market cap. As told by Kwon, Terraform Labs will put forth a new governance proposal on
Bitcoin (BTC) needs to hold current levels and work to reclaim higher ones to avoid a crash in the $20,000 range, the latest analysis warns. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Is $20,000 incoming? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD still failing to cement $30,000 as support on the May 16 Wall
Crypto investment giant Grayscale is expanding operations by launching a new crypto-linked exchange-traded fund (ETF) in Europe. Grayscale officially announced its first European ETF, called Grayscale Future of Finance UCITS ETF, on May 16. The new investment product is getting listings on major European stock exchanges, including the London Stock Exchange, Borsa Italiana as well
Sam Bankman-Fried, the founder of crypto exchange FTX, has criticized the efficiency of Bitcoin (BTC) as a payment network, only to meet heavy backlash from the crypto community. During an interview with the Financial Times, Bankman-Fried fueled environmental concerns associated with the Bitcoin network’s mining consensus, proof-of-work (PoW), and claimed it’s not scalable enough to
The Luna saga continues. In a Twitter thread, the team behind the failed algorithmic stablecoin UST and the token LUNA shared precisely how much Bitcoin and crypto assets they had disposed of. The Luna Foundation Guard (LFG) also shared a promise to “compensate remaining users of UST, smallest holders first,” with the remaining assets. In summary,
Investors familiar with the concept of equity investing will find equity tokens to be an extension of the same thought process as initial public offerings while those with a riskier appetite can venture into plonking their capital on the utility tokens in which they believe. One glaring difference between utility and equity tokens is the
As the dust settles from the Terra ecosystem crash, and the community decides what the next steps should be, the CEO of a validator runner in South Korea thinks the old Terra chain should be shut down permanently. Jiyun Kim, CEO of blockchain solutions company DSRV, wrote an opinion post on his own behalf, detailing