New Form 1099-DA The IRS has released a draft of Form 1099-DA, “Digital Asset Proceeds from Broker Transactions.” This form is designed to report income from cryptocurrency transactions. IRS Plans to Implement Form in 2025 The IRS plans to implement Form 1099-DA in January 2025. Brokers will start issuing the form to traders in January…
Halving Event Bitcoin has undergone a scheduled event called a halving. This event, which occurs every four years, reduces the reward for miners who power the network by half. The reward has now dropped from 6.25 BTC to 3.125 BTC per block. Not a Price Impact Unlike a stock split, the halving doesn’t directly affect…
Chainlink’s Bullish Signal Crypto trader Ali Martinez believes Chainlink (LINK) is giving a short-term bullish signal. The Tom DeMark (TD) Sequential indicator recently showed a buy signal, indicating a potential upward trend over the next few days. Bitcoin’s Outlook Martinez also discussed Bitcoin (BTC), suggesting it has room for further growth. He noted that Bitcoin…
A DeFi platform called Hedgey Finance has been hacked, resulting in the theft of at least $1.9 million. Loss Estimate Discrepancy Cyvers, a cybersecurity firm, estimates the loss at $1.9 million, while on-chain analyst Colin Wu claims it’s closer to $44 million. Hedgey Finance has not confirmed the larger figure. User Action Recommended Hedgey Finance…
Binance, a leading cryptocurrency exchange, has converted its $1 billion Secure Asset Fund for Users (SAFU) entirely into the stablecoin USDC. SAFU Fund Background SAFU was established in 2018 to protect Binance users from market volatility. The fund has typically held a balance of $1 billion, but its value has fluctuated due to crypto price…
Despite the recent price drop, Bitcoin fans are still bullish on the crypto. Data shows that addresses used for long-term storage (called “accumulation addresses”) have reached a record high in terms of daily Bitcoin inflows. Accumulation Addresses at an All-Time High Over 27,700 BTC was moved into accumulation addresses on April 16-17. This is the…
Analyst’s Timeline for Bitcoin’s Peak Crypto analyst Rekt Capital believes Bitcoin’s bull market peak could happen between mid-September and mid-October 2025. This is based on historical patterns that show Bitcoin typically peaks 518 to 546 days after a Halving event, which is happening today or tomorrow. However, Rekt Capital notes that Bitcoin’s recent rapid growth…
Who’s Schwartz Loyal To? Ripple’s CTO, David Schwartz, clarified his loyalty after facing questions about his role and wealth. He explained that he’s loyal to those who earn it, including his employer, Ripple. However, he emphasized that his loyalty is conditional and he’d leave if Ripple no longer deserved it. Is Schwartz Ripple’s Steve Wozniak?…
Unregistered Offerings and Sales The SEC alleges that Justin Sun, founder of Tron, sold two cryptocurrencies (TRX and BTT) without registering them with the SEC or qualifying for an exemption. This violates federal securities laws. Manipulative Trading The SEC accuses Sun of directing “wash trading” of TRX to create the illusion of legitimate investor interest…
As Bitcoin prepares for its fifth halving in April, data from CryptoQuant reveals that seasoned investors and miners have been the biggest winners. Old Whales Triumph “Old whales,” long-term Bitcoin holders, have enjoyed a remarkable 223% increase in unrealized profits. Their patience and holding strategy have paid off handsomely. New Whales Lag Behind “New whales,”…
