Author: NBTC

The U.S. Internal Revenue Service (IRS) has hired two former digital asset industry executives to beef up its ‘crypto’ tax expertise. The IRS recently announced the hiring of Sulolit “Raj” Mukherjee, JD, and Seth Wilks, CPA, to ramp up the agency’s efforts in “building service, reporting, compliance, and enforcement programs.” Mukherjee joins the tax agency after serving in tax compliance for financial institutions for over a decade. He most recently served as the global head of tax at ConsenSys, the New York-based incubator headed by Ethereum (NASDAQ: ETH) co-founder Joe Lubin. Previously, he served with Coinbase (NASDAQ: COIN) and Binance.US,…

Ethereum is approaching its all-time high aggressively, with the price on an almost vertical rise. Yet, based on both technical and sentiment analysis, a correction in the short term is looking probable. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has been blowing past several resistance levels since rebounding from the $2,200 level at the beginning of February. The market is currently testing the $3,500 resistance level and is yet to break to the upside definitively. Meanwhile, the Relative Strength Index demonstrates a clear overbought signal pointing to a potential consolidation or pullback in the…

MicroStrategy saw its share plunge over 15% during a volatile trading session on Tuesday. The share plunge came a day after it had announced plans to buy more of the token using the money raised from the sale of $600 million in convertible senior notes. The announcement had sent the shares of the company up in the last trading session. However, the effect of the update seems to be fading now. MicroStrategy Sees Shares Fall Earlier in the trade, MicroStrategy shares fell over 7%. With a continued fall, the stock has toppled over 16%. The move comes in tandem with…

U.S.-based Bitcoin mining behemoth Marathon Digital has published its quarterly earnings report and has beaten analyst predictions by a good margin. Paradoxically, Marathon’s stock price dipped shortly after the announcement. This is, however, likely a temporary blip. Stunning Financial Results Although Marathon Digital was not necessarily in trouble last year, the crypto winter definitely put a bit of a damper on its plans, as did the SEC, who targeted the firm among a slew of other companies. However, Marathon Digital has since recovered. Earlier this year, it reported that its Bitcoin production rate had tripled when compared to 2022. Since…

Binance Coin started its journey in 2017 and quickly became a popular cryptocurrency in the crypto market, offering users lower trading fees on the platform. Binance launched its native blockchain in 2019, known as Binance Chain, which functions similarly to other digital assets in the market. Binance Coin’s use cases align with its growth, serving as a vehicle to raise funds for the crypto exchange. Sports investments have become more accessible to investors around the world and have emerged as a robust tool for advancing brand visibility. One of the key advantages of sports investments is the rising revenue and…

Binance, a leading cryptocurrency exchange platform, has recently made a significant announcement aimed at diversifying trading options for its users. The platform is set to introduce two new perpetual contracts, namely MYROUSDT and 1000PEPEUSDC, both offering leverage of up to 50x. These contracts are scheduled to launch on March 5, 2024, for MYROUSDT, followed by the introduction of 1000PEPEUSDC on March 7, 2024. In addition to unveiling the launch dates, Binance has provided detailed information regarding the specifications of these perpetual contracts. Traders can expect key details such as tick size, funding rates, leverage limits, and trading hours to be…

On Thursday, the creators of the Immutable X-powered non-fungible token (NFT) game Gods Unchained announced that the game is now accessible on mobile devices. The Gods Unchained application has made its debut on both the Google Play Store and Apple’s App Store across the globe. God’s Unchained Launches Mobile Application The popular play-to-earn strategy card game, developed on the Immutable X layer two (L2) scaling solution, Gods Unchained, has now launched as a mobile app on both Google’s and Apple’s digital stores. Since its inception in 2018, Gods Unchained has captured the attention of over 450,000 registered users during its…

During a December deposition, Binance US COO Christopher Blodgett described the impacts of the ongoing SEC lawsuit on the company’s operations as a “near-mortal blow.” The firm has laid off more than 200 employees since June, doubling the previously reported figure. Blodgett articulated the strain in three key areas: people, trust, and economics. He also highlighted the significant severance and termination-related costs attached to this unfortunate outcome. Prior reporting In September, Reuters reported the departure of Binance US CEO Brian Shroder and an initial round of layoffs affecting 100 employees, signaling operational challenges intensified by regulatory scrutiny. The interim CEO,…

The topic of ether’s legal status as a commodity (or not) is one of the most heavily debated topics in crypto. We can think of the question as Schrödinger’s cat of crypto — ether is simultaneously both a commodity and not a commodity. In that sense, the commodity debate is analogous to that famous quantum mechanics paradox about the well-being of Schrödinger’s cat, which is seemingly simultaneously both dead and alive. But how can Schrödinger’s cat be simultaneously dead and alive, you might ask? Famously, in Copenhagen, the interpreted answer to this paradox for many is that it depends on…

The blockchain firm IO Research, which focuses on artificial intelligence (AI), said on Tuesday that it has secured $30 million in a Series A fundraising round from investors led by Hack VC along with other prominent investors that include Multicoin Capital, Delphi Digital, Solana Labs, Aptos Labs, OKX and more. The main offering from IO Research is io.net, a blockchain-based network which is the biggest decentralized network for GPU computing. It enables consumers to provide their surplus GPU capability to resource-intensive artificial intelligence businesses. A revived interest in cryptocurrencies and blockchain technology, together with investor interest in AI-driven technologies, is…