One of the United States’ largest investment banks, Morgan Stanley, has reportedly doubled its ownership of Grayscale Bitcoin Trust (GBTC) shares since April this year.
The latest Chinese crypto ban has already led to several foreign crypto exchanges including Huobi and Binance to terminate their services for mainland China customers and now it seems mining pools are next. The biggest Ethereum (ETH) mining pool in the world is called SparkPool and it announced the suspension of services yesterday.
As dYdX’s governance token gains amid speculation that Chinese traders could be migrating to the derivatives DEX, savvy DeFi farmers are claiming to be sitting on six-figure stashes after gaming the protocol’s recent airdrop.
The U.S. Securities and Exchange Commission has filed a complaint against two Robinhood users over an alleged wash-trading-based arbitrage scheme that utilized meme stocks.
At their simplest, cryptocurrency wallets might as well be considered another fintech fad. Yet, at their most complex, wallets are a revolutionary technology challenging society’s political and social underpinnings for the freedom they give us. Crypto wallets enable us to store and manage digital coins, which are the essence of the revolution.
While China sent the entire cryptocurrency market in a frenzy, Indonesia came forward to state that it will not be replicating its neighbor’s moves in completely banning all cryptocurrencies transactions. Rather than a blanket ban, the country is looking to introduce measures that would keep illegal activities related to cryptocurrencies at bay.
Bitcoin is the most popular cryptocurrency by community support, asset value, and trading volume. This has made many investors interested in its trading. However, like other cryptocurrencies, its volatility can be a challenging issue to overcome, especially as a beginner trader. Many even consider Bitcoin the first Decentralized Autonomous Organization (DAO) because it’s an entity without governance by a central authority.
The beauty behind cryptocurrency networks like Bitcoin is the fact that anyone can participate in the field of crypto mining. In fact, two siblings explained in a recent interview that they rake in more than $30K per month mining digital assets.
The United States Internal Revenue Service continues to propose new tax reforms to regulate the crypto investments in the U.S., with the latest notice sharing tax obligations for the marijuana industry.
Alibaba officially announced Monday that its platform would prohibit sales of cryptocurrency miners and suspend categories for blockchain miners and accessories from its website on Oct. 8. In addition to stopping sales of crypto mining devices, Alibaba will impose a ban on using its platforms to sell major cryptocurrencies like Bitcoin (BTC), Ether (ETH), Litecoin (LTC), as well as smaller coins like Quark (QRK).