Monthly Archives: February 2021

US Library of Congress report highlights proof-of-stake tax blindspot

The taxman still isn’t wise to cryptocurrency earnings made through proof-of-stake. But that could change soon. Republican Rep. Tom Emmer has called for more precise tax guidelines regarding cryptocurrency earnings, after a report he commissioned from the Law Library of Congress showed a stark disparity between regulatory approaches taken by various tax authorities around the world. The 128-page study examines cryptocurrency tax laws in 31 nations, paying particular interest to their applications concerning coins and tokens earned through mining and staking. As the report notes, many countries […]

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Binance Coin hits all-time highs as BNB surpasses Bitcoin Cash by market cap

Bitcoin Cash is now in danger of being ejected from the top 10 cryptocurrencies by market cap. Binance Coin (BNB), the in-house token of cryptocurrency exchange Binance, saw its price hit a new all-time high this week, passing Bitcoin Cash (BCH) by market capitalization. BNB/USD 1-week candle chart (Binance). Source: TradingView BNB, Binance volume hit records Data from Cointelegraph Markets and TradingView confirmed that BNB “flippened” BCH to become the ninth-largest cryptocurrency on Feb. 4. One of a number of altcoins to reach record highs this week, […]

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Researchers detect new malware targeting Kubernetes clusters to mine Monero

The malware campaign has not been active since it was first detected in Jan. 2021, leading researchers to believe that it “may still be in the reconnaissance and weaponization stage.” Cybersecurity researchers at Unit 42, the intelligence team at Paolo Alto Networks, have published a profile of a new malware campaign that targets Kubernetes clusters and can be used for the purposes of cryptojacking. Cryptojacking is an industry term for stealth crypto mining attacks which work by installing malware that uses a computer’s processing power to mine […]

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Exchange temporarily halts Ether withdrawals as gas fees hit new highs

Average gas fees hit a new all-time high of $17.5 per transaction on Feb. 3, triggering some exchanges to halt Ether and ERC-20 withdrawals. Japanese cryptocurrency exchange Liquid has temporarily disabled Ether (ETH) withdrawals as the altcoin hits new all-time highs. According to a Feb. 4 announcement, Liquid has halted withdrawals for ETH and some ERC-20 tokens due to a massive spike in transaction costs, or gas fees. “Service will be resumed once gas fees return to normal levels. All other crypto currencies are operating as per […]

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SUSHI price surges 73% in four days: Why investors say it’s still undervalued

The price of SUSHI, the governance token of SushiSwap, has increased by 73% in the last four days, as fundamentals strengthen. SUSHI, the native token of SushiSwap, rallied by 73% in the past four days. However, some investors believe the DeFi token may still have a lot more room to run. SushiSwap is an automated market maker (AMM) that allows users to trade cryptocurrencies in a decentralized manner on the Ethereum blockchain. SUSHI/USDT 15-minute price chart (Binance). Source: TradingView.com Why is SUSHI undervalued at $2 billion? The […]

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South African regulators issue fresh crypto investment warning

Authorities in South Africa are warning investors to be wary of scams amid the current crypto bull market. South Africa’s Financial Sector Conduct Authority is sounding the cryptocurrency scam alarm once again. In a press release issued on Thursday, the FSCA enjoined the public to do their own due diligence before investing in any crypto-related project. According to the FSCA the high-risk nature of the crypto investment space is being further exacerbated by the multitude of elaborate cryptocurrency scams in the country. Indeed, as previously reported by […]

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Doge Token Pumps After Elon Musk Tweets ‘Dogecoin Is the People’s Crypto’

Elon Musk has tweeted that dogecoin is people’s crypto shortly after the billionaire pledged to go off the social media platform for while. Incidentally, the token, which traded at $0.0411 on February 3, surged to $0.0588 just as Musk was tweeting. However, at the time of writing, the token appeared to have retreated to $0.0541, a price which is still 60% higher than that of February 3. Following Musk’s previous tweets about the token, dogecoin’s price surged to an all-time high (ATH) of $0.0791, according to Messari […]

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Bitcoin will likely reach $60K in 2021, says Investing.com analyst

63%of 800 respondents in the U.K. are planning to buy Bitcoin in 2021, according to a new survey by Investing.com. Bitcoin (BTC) is likely to hit $60,000 in 2021 amid the growing mainstream adoption, according to an analyst at major financial publication Investing.com. Jesse Cohen, a senior financial analyst at Investing.com, predicted that Bitcoin will likely reach a $60,000 level in the first half of 2021. According to Cohen, Bitcoin’s growth in 2021 will be fueled by support from institutional investors combined with the “flush of ultra-cheap […]

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Germany’s blockchain initiative: How adoption became a reality in 2020

Germany recognizes the importance of blockchain, but how did it act in 2020, and what effect will this have on its blockchain ecosystem? Germany has a very diverse, active blockchain ecosystem of companies and enthusiasts, especially in the city of Berlin. And an important step in the development of this ecosystem has been taken by the federal government itself, which tries to preserve and promote the vibrant blockchain ecosystem to continue its growth and make Germany an attractive opportunity for investment in this field. Comprehensive, sound regulation […]

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Finance Redefined: DeFi gets shiny new money Lego parts, Jan. 27–Feb. 3

Multiple projects came out with powerful new ideas all at once. Finance Redefined is Cointelegraph’s weekly DeFi-centric newsletter, delivered to subscribers every Wednesday. The end of January saw a string of interesting announcements from projects building innovative products that may well push DeFi forward. And more price gains of course. To briefly touch on the market side of things, this does feel like a much quieter rally than three years ago. Most things are going up, with some DeFi projects being particularly lucky, but it’s nowhere close […]

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