With Bitcoin and other cryptocurrencies on the rise, the IRS is stepping up its game. They’re sending out a ton of warning letters to crypto investors, raising concerns about how accurately people are reporting their crypto earnings on their taxes. A Flood of Warning Letters The number of these letters has exploded in the last…
Financial guru Ric Edelman is seriously boosting his Bitcoin recommendation. He’s suggesting investors allocate a whopping 10% to 40% of their portfolios to Bitcoin, a huge jump from his previous cautious 1% suggestion. What’s driving this dramatic shift? Let’s dive in. The Bitcoin ETF Boom The launch of US Bitcoin spot ETFs in January 2024…
Turkey’s cracking down on crypto, and it’s causing a stir. The Financial Crimes Investigation Board (MASAK) just dropped some serious new rules, and a Turkish crypto analyst is breaking it all down for us. New Rules, New Headaches for Traders? MASAK’s new guidelines (Communique No. 29) aim to prevent money laundering and are impacting how…
Ethereum has been playing second fiddle to Bitcoin for a while now. But things are changing. Ethereum’s Recent Strength Since April, Ethereum has shown some serious muscle. Increased investment in US Ethereum ETFs has boosted its price, especially compared to Bitcoin. A Crypto Analyst’s Prediction Crypto analyst Michaël van de Poppe sees big things for…
A recent survey shows central banks are becoming less reliant on the US dollar. This shift isn’t a sudden ditching of the dollar, but a gradual move towards diversification. Growing Doubts About the Dollar The Official Monetary and Financial Institutions Forum (OMFIF) surveyed 75 central banks worldwide. The results reveal growing concerns about the dollar’s…
A popular crypto analyst, known as TechDev, is forecasting a huge rally for altcoins (cryptocurrencies other than Bitcoin). He believes the market is primed for a massive upswing unlike anything seen before. Technical Indicators Point to Big Gains TechDev shared a chart showing the total market cap of altcoins (excluding Bitcoin and stablecoins). Using a…
Krispy Kreme recently announced a major data breach affecting a whopping 161,676 people. This includes current and former employees, and their family members. Hackers gained access to the company’s systems and stole a significant amount of sensitive information. What Information Was Stolen? The stolen data included some seriously sensitive stuff: Names Social Security numbers Dates…
Robinhood is adding new micro futures contracts for Bitcoin (BTC), Solana (SOL), and XRP, starting June 27th. This means traders can bet on the future price of these cryptocurrencies with smaller investments and lower risk. Smaller Bets, Bigger Access The company announced the launch on X (formerly Twitter), highlighting the lower margin requirements and easy-to-use…
Bitcoin’s upward trend is still strong, according to crypto analytics firm Glassnode, but there’s a crucial caveat. Strong Support, But a Potential Cliff Glassnode’s Cost Basis Distribution (CBD) heatmap shows significant Bitcoin support between $93,000 and $100,000. This means many investors bought Bitcoin in this price range, and a drop below it could trigger widespread…
A former senior vice president at a Green Bay, Wisconsin bank has admitted to a six-year fraud scheme that cost her employer $411,923. Fake Expenses, Real Prison Time Amy Jo Reid, who served as the bank’s director of purchasing, used company credit cards (p-cards) meant for business expenses to pay for personal items. This included…
