This week’s Crypto Biz explores Google expanding its Web3 program, the U.K.’s $125 AI pledge, FTX selling LedgerX and Binance.US backing out of its Voyager purchase.
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Access real-time blockchain and cryptocurrency news updates from around the globe.
UK Treasury seeks input on taxing DeFi staking and lending: Finance Redefined
The UK Treasury is seeking input on taxing the DeFi space, and on provisions around staking and lending.
Tax law researchers propose IRS framework for deducting crypto losses
A recently published study appears to advocate for the isolation of crypto assets from other tax deductions where losses are concerned.
How will a US debt default impact Bitcoin?
Cointelegraph analyst and writer Marcel Pechman explains how a U.S. debt default could impact Bitcoin and the larger cryptocurrency market.
Cointelegraph accelerator program welcomes Brickken: A new step in asset tokenization
By participating in Cointelegraph’s Accelerator Program, Brickken aims to support companies through the entire tokenization cycle.
Price analysis 4/28: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC
Bitcoin and select altcoins continue to face selling at higher levels, a sign that the bears have not yet given up.
Price analysis 4/28: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC
The cryptocurrency market witnessed sharp volatility on April 26 on rumors that large sums of Bitcoin (BTC) were on the move from the wallets linked to the defunct cryptocurrency exchange Mt. Gox and the United States government. A minor positive is that Bitcoin and select altcoins held their respective support levels.
After Bitcoin’s sharp rally in 2023, some traders seem to be planning to book profits. Coinglass reported that the Bitcoin balance held at Binance soared by 50,000 Bitcoin in the past 30 days.
While this could add to short-term pressure, bulls can take solace because the increase is not identical across exchanges. Coinglass said that the aggregate increase of Bitcoin balance across exchanges was 14,000 Bitcoin.
Daily cryptocurrency market performance. Source: Coin360The next major event for the market is likely to be the U.S. Federal Reserve’s meeting on May 2 and 3. The FedWatch Tool projects a 90% probability of a 25 basis point rate hike in the meeting. Most analysts expect this to be the final rate hike before a pivot later in the year.
Could Bitcoin and select altcoins break above their respective resistance levels and resume the up-move? Let’s study the charts of the top-10 cryptocurrencies to find out.
Price analysis 4/28: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC
Bitcoin and select altcoins continue to face selling at higher levels, a sign that the bears have not yet given up.
Bitcoin price holds $29K as US PCE data sparks 90% Fed rate hike bets
Bitcoin holds firm around $29,000 as markets escape a "shock" from the week's main macro event.
Bitcoin price holds $29K as US PCE data sparks 90% Fed rate hike bets
Bitcoin (BTC) stayed choppy at the April 28 Wall Street open, while United States macro data conformed to expectations.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewPCE offers “nothing to shock”
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD fluctuating around the $29,000 mark on Bitstamp.
U.S. Personal Consumption Expenditures (PCE) Index data, tipped as the macro event of the week, failed to deliver a performance catalyst as numbers broadly conformed to what markets had already priced in.
“The trend is our friend, however core sticky for now - hovering at 4.6% since December,” financial commentator Tedtalksmacro responded, adding in Twitter comments that the latest numbers were “overall nothing to shock the market.”
U.S. equities thus showed little movement at the open, while for Bitcoin, Binance order book data showed modest bid liquidity moving toward spot price, compressing potential volatility.
Crypto Stories: Tim Draper tells how his family moved into Bitcoin
Billionaire venture capitalist Tim Draper made a turning point in his family’s path to Bitcoin and other cryptocurrencies.
Where crypto can grow: Digital asset regulations around the world
While many countries have sped up their efforts to regulate cryptocurrencies following a crisis-filled 2022, most still lack a clear framework for the industry to build around.
Google Cloud to optimize Polygon zkEVM scaling performance
Polygon Labs and Google Cloud will team up in a multi-year agreement to drive the development and adoption of the Ethereum scaling protocol’s infrastructure and developer tools.
Google Cloud to optimize Polygon zkEVM scaling performance
Polygon Labs and Google Cloud will team up in a multi-year agreement to drive the development and adoption of the Ethereum scaling protocol’s infrastructure and developer tools.
The Bitcoin Transition: How HODLers can become changemakers and drive adoption
“When you think about Bitcoin, it's potentially the largest country or one of the largest countries today. But it's digital in and it's spread out everywhere,” Jeff Booth told Cointelegraph.
ChatGPT, Midjourney, other AI tools to make their way into EU legislation
The bill will classify the risk of AI tools and force developers of generative-AI applications to disclose the use of any copyrighted materials.
Binance to reenter Japan via acquired regulated exchange SEBC
Although no official date is mentioned for the launch of Binance Japan, the notice stated that the exchange could start after June.
Binance to reenter Japan via acquired regulated exchange SEBC
Although no official date is mentioned for the launch of Binance Japan, the notice stated that the exchange could start after June.
European bankers on digital euro: 'ECB has no interest in users’ personal data'
While anonymity still stands as the core issue of European CBDC, the inevitable competition with private banks also raises questions.
Revolut taps Koinly for cryptocurrency tax reports
Digital bank Revolut has partnered with Koinly to integrate cryptocurrency tax report services for users.