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Bitcoin, the world's largest cryptocurrency by market capitalization, saw a slight 0.19% price increase over the past 24 hours to $27,451.53. With a market cap of $534.31 billion, Bitcoin continues to dominate the cryptocurrency market. In this in-depth analysis, we will explore key metrics
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A new proposal from the U.S. Department of the Treasury and IRS aims to increase oversight of cryptocurrency transactions. The regulations, stemming from last year's infrastructure bill, would require crypto brokers to send tax form 1099-DA to the IRS and investors beginning in 2026. This expanded reporting
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Enterprise software giant SAP and cloud leader Google Cloud announced an expanded collaboration this week, aiming to harness emerging technologies like blockchain and artificial intelligence (AI) for business. While not a direct Bitcoin announcement, the news exemplifies growing traction for decentralized data and blockchain solutions among major corporates. This has
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Hong Kong is rolling out the welcome mat for cryptocurrencies, a move that could have huge implications for mainstream Bitcoin adoption. The city recently issued its first licenses for retail crypto exchanges under a new regulatory regime. It's part of a broader push to re-establish Hong Kong as
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A recent data breach at risk advisory firm Kroll has shone a spotlight on lingering vulnerabilities in cryptocurrency security, especially risks from SIM swap attacks. Kroll disclosed last week that an attacker hijacked a company phone number via a SIM swap, gaining access to sensitive personal information on claimants in
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Bitcoin saw a surge of over 7% on Tuesday following a landmark court ruling that sides with crypto giant Grayscale in its legal battle with the SEC over converting its popular Bitcoin Trust into an exchange-traded fund (ETF). The price of bitcoin jumped to over $27,800 shortly after the
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Retail trading platform Robinhood recently ended its crypto market making partnership with Chicago quant trading firm Jump Trading according to insider sources. Jump helped power Robinhood's no-fee crypto exchange business since 2018 by providing liquidity and trade execution. However, increased regulatory scrutiny on market makers has led Jump
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Leading Indian crypto platform CoinSwitch recently laid off around 7% of its workforce, largely from customer support roles. This comes as the broader crypto markets enter an extended bear period in 2023, with prices down 60-80% across major assets like Bitcoin from all time highs last year. In this environment,
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Cryptocurrency financial services firm Genesis recently struck a tentative debt repayment agreement as part of its ongoing bankruptcy proceedings. While details remain fluid, the case highlights paths for the crypto industry to emerge from the current downturn. Genesis filed for Chapter 11 bankruptcy protection after the 2022 crypto market crash
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Researchers from the University of Cincinnati recently developed a crypto literacy scale (CLS) to standardize measurement of knowledge related to cryptocurrencies. The CLS provides a framework to quantify crypto understanding separate from traditional financial literacy. With crypto adoption still in its early stages, focused education initiatives informed by the CLS
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Elon Musk's social media company X took a major step towards enabling crypto payments by receiving approval for a digital currency license in Rhode Island last week. The license will allow X to provide custody, transfer and exchange services for both fiat currencies and digital assets. While X&
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South Korea has imposed new minimum reserve requirements for crypto exchanges holding real-name bank accounts. Starting September 2023, affected exchanges must hold at least 3 billion won (approximately $2.3 million) in reserves. This aims to improve consumer protections but adds costs for smaller platforms. While not a direct Bitcoin
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The IRS recently released long-awaited proposed regulations on tax reporting requirements for digital asset brokers. The rules aim to increase oversight of crypto transactions, but the industry has raised concerns about potential negative impacts. While not directly related to Bitcoin, the regulations could influence BTC markets - here is an
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According to crypto analytics provider Santiment, the amount of Bitcoin held on exchanges has fallen to its lowest level in over 5 years. Just 5.8% of Bitcoin's total circulating supply currently sits on trading platforms. This declining availability suggests growing scarcity and hints at major price appreciation
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In an intriguing series of transactions, decentralized exchange 1inch withdrew over $40 million worth of assets from its investment fund this past weekend. The DeFi protocol then used a portion of the funds to purchase $10 million worth of Ethereum. A Closer Look at 1inch's Asset Movements According
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A sophisticated SIM swap attack targeting a Kroll employee led to a data breach impacting several prominent cryptocurrency firms, according to statements from the companies involved. The incident highlights the lingering vulnerabilities of SMS-based authentication. Bankrupt platforms FTX, BlockFi, and Genesis privately notified customers last week that financial services firm