The US government has once again targeted the crypto mining industry, sparking backlash from industry leaders and Senator Cynthia Lummis. 30% Tax Proposal Revived The Treasury Department’s 2025 revenue proposals include a revived plan to impose a 30% tax on crypto mining operations. This proposal was initially introduced a year ago but was later withdrawn….
Ethereum is on the rise, and crypto analyst Ali Martinez predicts it could reach $5,000 soon. Resistance Ahead While Ethereum is currently hovering around $4,000, it faces some resistance at $4,522-$4,646. This resistance comes from 600,000 addresses holding a significant amount of ETH. Bullish Indicators Despite the resistance, Martinez believes Ethereum’s bullish momentum will continue….
South Africa’s Financial Sector Conduct Authority (FSCA) has granted 59 operating licenses to crypto businesses, a significant step towards regulating the industry in Africa’s most industrialized economy. Growing Interest in Crypto FSCA divisional executive Felicity Mabaso announced that they have received 355 license applications, with 262 still under review. This shows a growing interest in…
Rollercoaster Ride Bitcoin’s price took a wild ride yesterday, reaching a high of $73,000 before a sharp drop caused by liquidations. Long position holders were hit hard, losing over $258 million. However, Bitcoin quickly recovered, wiping out $103 million in short positions. Record ETF Inflows Investors jumped on the opportunity to buy Bitcoin ETFs, driving…
Upper Price Target of $337,000 On-chain analyst Willy Woo believes Bitcoin’s (BTC) current bull market is just getting started, with a potential upper price target of $337,000. Woo notes that Bitcoin’s current price of $71,633 is equivalent to $20,000 during the previous bull cycle. Fundamentals Point to Continued Bullish Trend Woo analyzes the Bitcoin Macro…
Why It Happened The US Securities and Exchange Commission (SEC) has rejected SkyBridge Capital’s application for a Bitcoin Spot Exchange-Traded Fund (ETF). According to the SEC, SkyBridge failed to comply with a warning under Rule 479, which requires issuers to amend or withdraw incomplete applications within a certain time frame. SkyBridge’s History with Bitcoin ETFs…
Ethereum (ETH) has been on a roll, exciting investors but also raising concerns. Positive Factors ETF Approval: The potential approval of an Ethereum ETF could bring in billions of dollars from institutional investors. Bitcoin Halving: The upcoming Bitcoin halving could boost the entire crypto market, including Ethereum. Increased Short-Term Holders: Data shows a surge in…
Crypto analyst Jason Pizzino is raising red flags for XRP holders, warning that the cryptocurrency has been underperforming for years. Six Years of Disappointment Pizzino points out that those who have held onto XRP since 2018 have largely experienced losses. While the coin may see some gains during the current bull market, so will other…
Lower Fees and Fractional Ownership Grayscale Investments, the company behind the popular Grayscale Bitcoin Trust (GBTC), has filed with the Securities and Exchange Commission (SEC) to register a new product: the Grayscale Bitcoin Mini Trust. This spin-off of GBTC will allow investors to hold fractional units of ownership in the trust. According to reports, it…
A British digital asset firm, Copper Technologies, allegedly transferred over $4.2 million in cryptocurrency to a wallet belonging to Jonatan Zimenkov, a Russian national later sanctioned by the US for his alleged role in Russia’s invasion of Ukraine. Sanctions on Zimenkov In February 2023, the US Treasury Department imposed sanctions on Zimenkov and his father,…
