Sonik Coin is the latest meme coin sensation that is backed by a strong following in the crypto community. Its goal is to move early investors to profit at the speed of light, with a total supply of approximately 299.79 billion tokens. 50% of the tokens are dedicated to the presale, 40% for staking rewards, […]
Tether, the stablecoin giant, has released a new transparency report that confirms its tokens are over 100% backed. The report states that Tether has $86.1 billion in assets and $82.8 billion in liabilities, with the largest amount of USDT (~42.5 billion) circulating on Tron and a rivaling amount (~38.4 billion) trading on Ethereum. The company […]
Federal Reserve Chair Jerome Powell recently spoke at the Jackson Hole Economic Symposium, where he outlined the uncertainties surrounding the economic outlook and the possibility of further restrictive monetary policies. Despite inflation having declined from its peak, Powell maintained that it remains excessively high. The Federal Reserve is prepared to raise interest rates further if […]
Coinbase has announced a new Ethereum layer-2 scaling solution called Base, which will share a portion of its revenue with its development partner, the Optimism Collective. The Optimism Collective is a group of companies, communities, and citizens working together to reward public goods and build a sustainable future for Ethereum.Base and the Optimism Collective have […]
The United States Internal Revenue Service (IRS) has proposed new regulations on the sale and exchange of digital assets by brokers. The proposed Form 1099-DA would simplify tax filing and help taxpayers determine if they owe taxes. The regulations are part of the Biden administration’s implementation of the bipartisan Infrastructure Investment and Jobs Act (IIJA), […]
The latest episode of Macro Markets featured Cointelegraph analyst Marcel Pechman discussing the strength of US consumption despite increasing auto-loan and credit card delinquency. Pechman believes that consumers have built up a cushion of extra cash savings due to government stimulus and student loan repayment forgiveness. However, according to JPMorgan, this cushion has been spent […]
The U.S. Treasury Department has proposed new tax regulations for the cryptocurrency industry, which would require crypto businesses to report to the IRS in a similar fashion to traditional brokers. This would include the reporting of gross proceeds from transactions on Form 1099s. The regulations would also extend to nonfungible tokens (NFTs) and decentralized finance […]
Pyme is a platform revolutionizing the investment landscape in the world of cryptocurrency and Web3 companies. It focuses on empowering individuals from diverse backgrounds and democratizing finance, connecting investors with early-stage Web3 ventures. Pyme evaluates factors such as technology, team composition, market potential, and scalability to reduce risks associated with early-stage investments.Pyme also provides comprehensive […]
Bitcoin supply on exchanges has dropped to its lowest level in six years, according to crypto analytics platform Santiment. On-chain data shows that only 5.8% of the total BTC supply is currently sitting on trading platforms.The low level of BTC supply on exchanges indicates that investors have not regained their trust in centralized platforms, and […]
The U.S. Dollar Index has been surging recently, indicating a strong performance for the currency. This has had a knock-on effect on other global currencies and cryptocurrencies, with many feeling the heat of the dollar’s strength. This has been reflected in the markets, with the dollar’s value increasing against other currencies and cryptocurrencies. The surge […]
