The SEC is taking action against Cumberland, a major crypto trading firm, for allegedly operating as an unregistered securities dealer. The agency claims Cumberland has been buying and selling crypto assets that qualify as securities since 2018, generating over $2 billion in transactions. SEC’s Claims The SEC alleges that Cumberland, which boasts of being a…
Tezos founder Josh Jarrett and his wife are going head-to-head with the IRS once more, this time over how the agency treats staked XTZ tokens. The Argument: Staked Tokens Shouldn’t Be Taxed Until Sold The Jarretts argue that new tokens earned through staking should only be considered taxable income when they are sold. They believe…
Bitcoin has been struggling lately, with prices dropping from around $66,000 in October. While it’s bounced back a bit, buyers need to show some serious strength to push prices higher. Whales Are Buying Big One interesting thing happening is that big Bitcoin investors, called whales, are accumulating a lot of coins. In the last six…
Former FTX executive Ryan Salame is about to start his 7.5-year prison sentence, and his way of preparing has the crypto community buzzing. A LinkedIn Update for the Ages Salame took to LinkedIn to announce his new “position” as an inmate at FCI Cumberland. He even updated his profile to include “cleaning and whittling” as…
The crypto market has been a bit shaky lately, with Dogecoin (DOGE) taking a hit along with other altcoins. But while DOGE is slowly recovering, investors are looking for something with more potential for big returns. Enter RCO Finance (RCOF), a new presale altcoin that’s generating a lot of buzz. Why RCOF is Stealing the…
Bitcoin has been on a rollercoaster ride lately, dropping below $60,000 and leaving investors wondering what’s next. Some think it’s a buying opportunity, while others are worried about a bigger crash. Whales Are Buying, But What Does It Mean? But here’s something interesting: Big Bitcoin players, known as whales, have been buying up a ton…
People are pulling their money out of traditional banks and putting it into money market funds. That’s the latest news from the Federal Deposit Insurance Corporation (FDIC). In the last three months, bank deposits have dropped by a whopping $197.7 billion! That’s a 1.1% decrease, and it’s a big change from the first quarter of…
JPMorgan Chase had a surprisingly good third quarter, sending its stock price up nearly 5%. The bank’s net interest income (NII) – the money they make from loans and investments – actually increased by 3%, exceeding analysts’ expectations. This was fueled by higher investment banking fees, which helped boost earnings per share to $4.37, well…
A well-known crypto analyst is sounding the alarm about Bitcoin, warning that it could plummet if it fails to hold a key support level. Bitcoin Needs to Hold $58,000 The analyst, known as Credible Crypto, says Bitcoin needs to stay above $58,000 to avoid a major drop. He’s urging caution, saying a fall below this…
Hold onto your wallets, reward hoarders! A whopping $34 billion worth of unused credit card points are sitting idle, and their value is getting squeezed. The Points Are Losing Their Punch It’s not just you feeling the pinch of inflation. The value of your credit card points is shrinking too. What used to buy you…
