Category: crypto

Italy plans to raise the capital gains tax on cryptocurrencies, including Bitcoin, from 26% to 42%, according to Deputy Finance Minister Maurizio Leo. This move contradicts earlier promises by Prime Minister Giorgia Meloni against broad tax hikes, causing backlash in the crypto community, with users considering relocation for better tax conditions.

Tesla has transferred its entire Bitcoin holdings, valued at around $765 million, to unknown wallets, sparking speculation about its crypto strategy. This move, involving 11,500 BTC in 26 transactions, marks the wallet’s first activity since June 2022. No public statement has been issued by Tesla regarding these transactions.

World Liberty Financial (WLFI) restored its website after a crash from high traffic during its token pre-sale, raising $7.96 million from 530.7 million tokens sold. The platform aims for $300 million in total sales, focusing on DeFi services. Despite technical issues, investor interest remains strong with 100,000 whitelisted participants.

Kraken has integrated with EigenLayer, allowing users to restake Ethereum (ETH) directly on the platform, enhancing accessibility for a wider audience. Currently, access is restricted to verified Kraken Pro users and not available for US residents. This integration aims to attract more everyday users to restaking, potentially boosting EigenLayer’s total value locked (TVL).

On October 14, crypto markets surged after Vice President Kamala Harris introduced a “smart regulatory framework” for digital assets. Bitcoin rose over 5%, Ethereum over 7%, and spot Bitcoin ETFs saw $555 million in inflows. Matt Hougan noted this reflects strong investor enthusiasm and anticipates Bitcoin may reach $80,000 soon.

Nashville’s Canary Capital filed an S-1 for a Litecoin ETF with the SEC on Oct. 15, marking the first Litecoin-focused spot ETF application in the US. CEO Steven McClurg highlighted Litecoin’s fair launch status, contrasting it with Solana. Currently, Grayscale dominates the US Litecoin investment market.

The Sui Foundation denied allegations of insider trading related to a $400 million sale of SUI tokens, asserting no insiders sold tokens outside scheduled agreements. Despite their reassurances, some in the crypto community remain skeptical, with critics arguing the Foundation’s statement was misleading amid ongoing concerns about the sale.

Standard Chartered predicts Bitcoin (BTC) could surpass $73,000 before the US elections, driven by ETF inflows and increased call options activity. Geoffrey Kendrick noted rising ETF interest and market sentiment, and potential favorable regulations if Donald Trump wins. He emphasized MicroStrategy’s stock performance reflects growing institutional confidence in digital assets.

Coinbase has filed a partial summary judgment motion against the SEC, requesting access to internal documents about the agency’s enforcement strategy in the crypto sector. The SEC, initially denying requests under the Freedom of Information Act, now acknowledges delays are unnecessary, leading Coinbase to seek clarity on regulations governing digital assets.

Ripple has launched its new Ripple USD (RLUSD) stablecoin, supported by major exchanges like Uphold and Bitstamp. Aimed at institutional clients, RLUSD offers fiat stability and blockchain efficiency, targeting cross-border payments and asset tokenization. The token will maintain a 1:1 parity with the US dollar and will have a dedicated advisory board.