Author: NBTC

The continued US government shutdown is causing the Internal Revenue Service (IRS) to furlough nearly half its workforce. The agency also communicated that it significantly scaled back most operations. The IRS staff reductions will likely impact crypto tax services through reduced taxpayer assistance, mounting backlogs for disputes and audits, and delays in issuing new tax guidance. IRS Sends Staff Home The IRS announced in a notice today that it will furlough nearly 34,000 employees as part of the ongoing government shutdown. The news comes eight days after Democrats and Republicans failed to agree on legislation to fund the government for…

Swiss voters narrowly approved the introduction of a state-issued electronic identity system, with 50.4% voting yes and 49.6% no. Hashgraph has voiced support for the e-ID initiative, with its IDTrust platform positioned as a privacy-first infrastructure. The e-ID, or electronic identity, is Switzerland’s leap toward a secure digital future. Issued by the federal government, this digital ID will let citizens prove their identity online in a safe and trusted way. It’s entirely voluntary, free to use, and designed to work alongside physical documents like passports and ID cards, not replace them. In a LinkedIn post, the Hashgraph Group voiced its…

Welcome to Slate Sunday, CryptoSlate’s weekly feature showcasing in-depth interviews, expert analysis, and thought-provoking op-eds that go beyond the headlines to explore the ideas and voices shaping the future of crypto. I’m balanced on a box with a spotty WIFI connection and a glitching computer. Moving house disrupts literally every aspect of your life, yet I’m determined to maintain an unbroken workflow. It kind of lends itself to crypto anyway. The number of meetings I’ve taken from an airport, theme park, or some other random place is racking up. In the spirit of building the airplane as we fly, I…

Ethereum price drops 4% as short-term traders lock profits and trigger capital outflows. Over 70% leveraged long positions leave Ethereum vulnerable to sudden liquidations and deeper corrections. Ethereum support lies between $4,250–$4,400; rebound could spark rally toward $6,650 upside target. Ethereum, the world’s second-largest cryptocurrency, has entered a cooling phase after weeks of strong performance. ETH is currently trading near $4,487, slipping around 4% in the past 24 hours. While the long-term picture for Ethereum looks promising, recent weakness shows that traders are taking a step back, raising the question—why is ETH falling now? Short-Term Selling Pressure Led To Failed…

The crypto treasury narrative, which has become a major feature of the current market cycle, parallels investor sentiment from the dotcom era of the late 1990s and early 2000s, which caused the stock market to sink by about 80%, according to Ray Youssef, founder of peer-to-peer lending platform NoOnes app. The same overzealous investor psychology that led to over-investment in early internet and tech companies during the dotcom crash has not disappeared due to the presence of financial institutions in crypto, Youssef told Cointelegraph. He said: “Dotcoms were an innovative phenomenon of the emerging IT market, alongside major companies with…

Surging optimism around U.S. crypto rules is igniting industry momentum, as Coinbase CEO Brian Armstrong signals 2025 could deliver long-awaited clarity, stability, and investor confidence. Regulatory Game-Changer? Armstrong Hints at Crypto Rules That Flip the Map Growing optimism over the direction of cryptocurrency regulation in the United States is reshaping industry sentiment, with one of its most prominent executives expressing confidence in imminent policy clarity. Crypto exchange Coinbase (Nasdaq: COIN) CEO Brian Armstrong shared on social media platform X earlier this week that constructive progress is underway toward defining digital asset rules. Armstrong wrote: Feeling very bullish on regulatory progress…

Sorare, a blockchain-based fantasy sports game where fans can collect NFT player cards, is once again changing its home, this time migrating from StarkEx to Layer 1 chain Solana. In an announcement on Oct. 8, Sorare described the migration from StarkEx, an Ethereum Layer 2 scaling solution, as “more than a technical upgrade,” calling it a “step forward in our vision to become the most open and flexible platform for digital sports collectibles.” In its FAQ section for the migration, Sorare explained that it’s moving to Solana to connect Sorare cards “to a broader ecosystem,” including the ability to manage…

Inspired by Michael Saylor’s Bitcoin playbook, Joseph Lubin believes Ethereum treasury companies could provide outsized returns on yield and investment opportunities to their Bitcoin counterparts. Speaking exclusively to Cointelegraph at Token2049 in Singapore, the Ethereum co-founder unpacked his thesis for why Ether (ETH) digital asset treasuries (DATs) present superior opportunities to the Bitcoin (BTC) treasury movement popularized by Saylor’s Strategy Bitcoin play. “I’d much rather have something that potentially has more impact. It certainly is as solid as Bitcoin, and I would argue more solid because of the functionality and the organic demand for it to pay for transactions and…

Crypto startups secured close to $380 million across 17 deals in the week of Sept. 21–27, led by Fnality’s $136 million Series C and Zerohash’s $104 million Series D. Strategic raises and early-stage funding rounds, compiled using Crypto Fundraising‘s database, are adding to the total despite broader market caution. Summary Crypto startups raised $378M this week across 17 deals despite market caution Fnality led with $136M Series C; Zerohash followed with $104M Series D raise RedotPay hit $47M strategic funding; multiple seed deals boosted the total Here’s a detailed breakdown of this week’s crypto funding activity: Fnality International Raised $136…

U.S. Senator Cynthia Lummis is pushing to eliminate taxes on small Bitcoin transactions, a move aimed at reshaping how the Internal Revenue Service (IRS) treats everyday crypto spending. Currently, the IRS classifies cryptocurrency as property, meaning each transaction, no matter how small, could trigger a capital gains report. This has long been viewed as a barrier to using Bitcoin for daily purchases. Lummis’s proposal aims to simplify this process and promote broader cryptocurrency adoption. As she finalizes her plans, analysts advise investors to monitor new legislative developments, particularly regarding the de minimis exemption threshold, inflation adjustments, and the timeline for…