American cryptocurrency exchange Gemini is partnering with tax compliance firm TaxBit to help its customers treport their crypto taxes with TaxBit’s Tax Center Suite solution. Tyler Winklevoss, CEO of Gemini exchange, said that TaxBit’s software will help reduce the “pain point of crypto tax,” enabling...
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Chinese city seeks to power urban governance and more using blockchain tech
Authorities in Chengdu, China plan to adopt blockchain for several use cases throughout the city, including urban governance, cross-border trade, smart manufacturing, and agriculture. During the 2020 Chengdu Global Innovation and Entrepreneurship Fair, the city’s first International Blockchain Industry Expo, Lu Tiecheng, secretary of the...
Binance CEO denies allegations that the exchange’s US arm is a regulatory decoy
Changpeng Zhao, CEO of Binance, is pushing back hard against allegations that the crypto exchange set up its U.S. arm to circumvent regulations and surreptitiously profit from investors. According to an Oct. 29 article from Forbes writer Michael Del Castillo, the news outlet claims to...
Tax professional explains the most important thing for US crypto holders
Wendy Walker, solution principal at the tax compliance company Sovos, described reporting as the most important aspect of tax filing that people in the blockchain industry should know about. “Even if you don’t owe income taxes, you still have to report details of the transactions,”...
Declining DEX volumes reflect DeFi investors shift to Bitcoin, data shows
All eyes are set on Bitcoin (BTC) as the digital asset continues to trek to a new 2020 high. Meanwhile, the hype around decentralized finance projects continues to die down, especially as token prices plummet. Data shows that trading volume for decentralized exchanges, or DEXs,...
Maker community scrambles to fix long-standing vulnerability to flash loans
The MakerDAO community is urgently implementing measures to prevent voting manipulation through flash loans. This was precipitated by what is likely the first instance of the feature being used to influence a decentralized finance governance vote on Monday. According to a post published by community...
Bitcoin price spikes 5% to $13.5K shortly after ECB stimulus announcement
The price of Bitcoin (BTC) increased from $12,920 to $13,600 in four hours, recording a 5% rally. The uptrend coincides with positive developments from the European Central Bank, or ECB, and optimistic job data from the United States. BTC/USD 1-hour chart. Source: TradingView.com Macro factors...
Bitcoin adoption could reach 90% by 2030, investment firm founder claims
With the recent influx of mainstream financial players into the blockchain space, how long will it take for corporate allocation of Bitcoin (BTC) to become the norm? Brian Estes, founder of investment firm Off The Chain Capital, thinks 10 years. “I think in 2029, 2030, when...
Up or down? These Bitcoin price levels hint at the next move from $13K
Bitcoin price has had a tremendous month as the price rallied from $10,500 to $13,800. However, in recent days, momentum is slowing amid rising coronavirus fears. Bitcoin’s (BTC) price dropped from $13,800 to $12,900 on Oct. 28, making the recent breakout a fakeout. Alongside a...
Huobi Beefs Up Venture Arm With Former DragonFly Partner Leading DeFi Investments – CoinDesk
“When I left DragonFly earlier this year, Huobi was also ramping up its internationalization efforts and its corporate investment practice,” Pack told CoinDesk in an interview. “I thought Huobi has the potential to be one of the most impactful companies in crypto. When I was...