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 […]
Binance, a crypto exchange, has removed two payment options from its peer-to-peer service after being criticized for using code words to represent sanctioned Russian banks. The payment options were listed on the exchange’s message board, which allows users to buy and sell cryptocurrency. The payment options were removed after Binance learned that account holders were […]
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 […]
1inch Network has recently deployed its aggregation protocol and limit order protocol on the Base network, an initiative supported by Coinbase. This project aims to broaden its presence in decentralized finance (DeFi) and provide increased security, stability, and scalability for decentralized applications. Teaming up with Base grants access to Coinbase’s products, increasing influence and allowing […]
Donald Trump’s nonfungible tokens (NFTs) surged in price after a photo of the former United States President was released as part of his criminal case in Georgia. Data from NFT marketplace OpenSea showed that the floor price of Trump’s line of digital trading cards increased more than 62% from 0.138 to 0.224 Ether ETH ($1,645) […]
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 […]
Uniswap has become the premier decentralized trading spot for users since the beginning of 2023, surpassing Coinbase in terms of spot trading volumes. Uniswap facilitated up to $150 billion in trading volume in Q1 of 2023, while Coinbase came out at $145 billion worth of trades. Uniswap also dominated in Q2 of 2023, surpassing Coinbase […]
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 […]
