Category: crypto

Senator Todd Young is calling on the IRS to reconsider its 2023 tax guidelines for cryptocurrency rewards earned through staking. He has urged Treasury Secretary Scott Bessent to review the ruling, expressing concerns over taxpayer uncertainty and potential issues with revenue forecasting. The IRS recently proposed implementing the global Crypto-Asset Reporting Framework (CARF) tax standard,…

Kraken has raised $800 million in funding, with Citadel Securities making a $200 million strategic investment, increasing its valuation to $20 billion. The funding will support expansion into derivatives, global markets, and tokenized assets. The company plans to continue growing and expanding its financial services offerings globally.

Senators Elizabeth Warren and Jack Reed are calling for an investigation into World Liberty Financial, a crypto company linked to the Trump family, over alleged ties to high-risk foreign actors. The company is accused of selling tokens to wallets connected to North Korea, Russia, Iran, and Tornado Cash, raising concerns about national security and potential…

Multiple cryptocurrency wallets previously inactive due to the collapse of the Libra meme token have resumed operations to buy Solana using stablecoins during market downturns. The wallets, associated with the failed Libra project endorsed by Milei, are under scrutiny. Major investors bought large amounts of Solana, causing significant market movement.

Aave has launched a mobile savings app that allows users to convert euros and dollars into stablecoins that earn interest. The app aims to provide better returns than traditional savings accounts and U.S. Treasury bills. It leverages blockchain technology and offers up to $1 million in balance protection. The app simplifies DeFi access for users…

The Trump Organization is partnering with a Saudi developer to build a luxury resort in the Maldives, offering ownership through tokenized real-world assets. The venture aims to raise capital through token sales, potentially representing fractional ownership of the development. Trump’s crypto ventures have generated profits but also faced scrutiny for potential conflicts of interest.

Amplify has launched the XRP 3% Monthly Premium Income ETF, the first of its kind to track XRP exposure through options strategy. The fund targets a 3% monthly return, equivalent to 36% annual returns, by using a covered options strategy to provide investors with XRP exposure and yield.

Bitcoin has formed a death cross, with the short-term moving average falling below the long-term moving average. Analysts suggest potential lower levels based on historical cycles and MVRV data. While some believe this setup could lead to extended weakness, others argue that the market remains intact above long-term support levels.

Bitcoin fell below $90,000, its lowest level in seven months, leading to a market slump for most major cryptocurrencies. Despite this, ICP, HYPE, and ASTER made gains against the broader decline. The total crypto market capitalization decreased sharply, but weekend trading was calmer with select altcoins showing resilience.

Analysts are revising their 2025 outlook for XRP based on liquidity, compliance, and infrastructure maturity, rather than brand recognition. XRP Tundra is implementing DAMM V2 to stabilize the market, introducing features like NFT-based liquidity positions and permanent liquidity locks. The project roadmap includes GlacierChain for enhanced governance and a dual-token system for cross-chain innovations.