News
Why a gold rush for inscriptions has broken half a dozen blockchains
Some suggest EVM inscriptions are the latest way for retail to access low-cap coins, while others argue it’s an over-hyped fad. Whatever it is, it’s clogging up the blockchain. The latest degen “gold rush" to inscribe everything from profile pictures to memecoins has...
Daily gas spent on EVM inscriptions surges to record high of $8M
Bitcoin is not the only network getting clogged up with Ordinals inscriptions, with weekend activity on EVM chains also spiking. Network transaction fees across all blockchains have spiked over the weekend as the Ordinals inscriptions craze continues to push demand...
FTX debtors will assess values of crypto claims based on petition date market prices
In a revised Chapter 11 plan of reorganization, FTX debtors state that crypto claims by customers will be assessed using a conversion table, with valuation based on the petition date. The debtors of the now-defunct cryptocurrency exchange FTX have filed an amended...
Grayscale mulls over potential tax implications for spot Bitcoin ETFs
The asset management firm declares that the Grayscale Bitcoin Trust (GBTC) falls under the grantor trust structure for tax considerations. Grayscale is evaluating the possible tax consequences associated with spot Bitcoin (BTC) exchange-trade funds (ETF), following...
Solana phone sales skyrocket as degens scramble for pumped-up BONK
At current prices, the free BONK airdrop for Saga owners stands at $877, making it — at least temporarily — a “phone that pays for itself.” Memecoin hopefuls have been snapping Solana’s crypto phone in droves after a recent price hike for Solana memecoin Bonk (BONK),...
Fed pause is a ‘green light’ for investors; here’s what it means for crypto
With the expectation of further rate cuts heading into 2024, analysts say this could be a "positive boost" for crypto stocks and investment products. A decision from the United States Fed to pause and possibly lower interest rates next year will likely serve as a...
‘I’m a big fan’: Cantor Fitzgerald CEO praises Tether and Bitcoin
Cantor Fitzgerald has been managing Tether’s now $90 billion Treasury portfolio since late 2021. Howard Lutnick, the CEO of Wall Street firm Cantor Fitzgerald has praised stablecoin issuer Tether (USDT), describing himself as a "big fan" of the firm."I'm a big fan of...
IRS tax bill will swipe creditors of any ‘meaningful recovery,’ says FTX
FTX Trading said the firm “never earned anything anywhere near the amount” that would justify a $24 billion tax bill. A proposed $24 billion tax bill from the United State IRS will likely suck up any “meaningful recovery” that was meant for victims of FTX, according...
Google updates policy to allow ads for US crypto trusts
Google will allow ads for U.S. based-crypto trusts from January, with the change seemingly coming in the same month that spot Bitcoin ETFs are predicted to be approved. Tech giant Google has updated its cryptocurrency-related advertising policy to allow ads about...
US gov’t removes two crypto AML rules from national defense bill
The two provisions abolished from the National Defense Authorization Act centered around anti-money laundering (AML) issues linked to cryptocurrency. The United States government has eliminated two provisions from the National Defense Authorization Act (NDAA) that...