Author: Nola Robert

Article written by Nola Robert

IRS delays new crypto tax cost basis rules to December 2026

January 4, 2025 1 min read

The Internal Revenue Service (IRS) has postponed the implementation of new crypto cost-basis reporting rules, now set to take effect on December 31, 2026, providing brokers with additional time to comply with the complex regulations. Initially scheduled for late 2024, this delay follows requests from brokers and platforms for more time to adapt, offering temporary relief to crypto investors who were scrambling to meet the original deadline. In a recent

XRP trading volume outpaces Bitcoin and Dogecoin on major South Korean exchanges

January 4, 2025 1 min read

The excitement surrounding XRP continues to grow, particularly as it dominates trading volumes on South Korean cryptocurrency exchanges, signaling a potential price rebound. Notably, XRP has outperformed major cryptocurrencies like Bitcoin and Dogecoin in trading activity. Jaime Rogozinski, founder of WallStreetBets, recently highlighted this trend on social media, noting that XRP’s trading volume on platforms such as Upbit, Bithumb, Coinone, and Korbit has surged significantly. For instance, XRP’s trading volume

AI cryptocurrency market cap reaches $16.8 billion

January 3, 2025 1 min read

The cryptocurrency market, particularly driven by artificial intelligence (AI) tokens, has witnessed a remarkable surge, reaching a total market value of $16.8 billion—a 22.3% increase in just 24 hours. CoinMarketCap reports that nine AI tokens now boast market capitalizations exceeding $1 billion, with three of these tokens categorized as AI Agents. This growth is accompanied by heightened trading activity, with $2.3 billion in transactions recorded recently, indicating a rising investor

NYDIG to expand its Bitcoin offering through float financing

December 31, 2024 1 min read

NYDIG, a subsidiary of Stone Ridge, is set to enhance its Bitcoin-backed loan offerings through float financing, as outlined in the firm’s 2024 investor letter. The letter addresses common criticisms regarding Bitcoin’s utility, asserting that it can generate cash flow and serve as collateral for fiat loans. Float, a crucial concept in insurance and asset management, refers to the investable capital from premium payments or reserves. Stone Ridge’s Longtail Re

Christian Lindner urges the ECB and Bundesbank to add Bitcoin to reserves

December 31, 2024 1 min read

Christian Lindner, the ex-finance minister of Germany, has urged the European Central Bank (ECB) and the Bundesbank to think about adding Bitcoin to their reserves. He commended the Trump administration’s crypto policies in the U.S. as forward-thinking and highlighted the importance for Europe to stay aligned with the global move towards digital assets. Lindner pointed out in a parliamentary meeting that cryptocurrencies are becoming more important. He said they are

Coinbase Ethereum layer 2 Base’s daily transaction volume surges 22 times

December 30, 2024 1 min read

Coinbase’s Ethereum Layer 2 network, Base, is becoming an important player in the cryptocurrency world as we near 2025. Base launched in 2023 and has grown significantly in many areas, becoming a platform that is easy to use and affordable for both users and developers. In 2024, Base experienced a significant rise in daily transaction volumes, going from about 415,000 transactions per day in December 2023 to around 9.4 million

Bitwise Asset Management files with the SEC to launch the Bitcoin Standard Corporations ETF

December 30, 2024 1 min read

Bitwise Asset Management has submitted a filing to the SEC for the Bitcoin Standard Corporations ETF, which aims to invest in public companies that possess at least 1,000 Bitcoin in their treasuries. The ETF will focus on equity securities of companies that meet specific criteria, including a minimum market capitalization of $100 million and daily liquidity of at least $1 million, while also maintaining a public float below 10%. Unlike

Three major crypto advocacy groups sue the IRS

December 29, 2024 1 min read

Three major cryptocurrency groups—the Blockchain Association, DeFi Education Fund, and Texas Blockchain Council—are suing the Internal Revenue Service (IRS) over its new rules that impact decentralized finance (DeFi) platforms. The groups argue that the IRS has gone too far by labeling DeFi platforms as brokers, which has caused a strong reaction from the crypto community. The IRS has updated its definition of “broker” to include decentralized exchanges and front-end platforms,

Over 15 million South Koreans now invest in crypto

December 26, 2024 1 min read

South Korea has reached an important point in crypto use, with more than 30% of its people now investing in digital assets. By late 2024, there were 15.59 million crypto investors, the highest number ever for the country. This increase shows how important cryptocurrencies are becoming in South Korea’s financial system. In November, daily trading volume for cryptocurrencies reached $10.5 billion, exceeding the total trading activity of the KOSPI and

Bitcoin trading around $95k after liquidating over $500 million in long positions

December 24, 2024 1 min read

The cryptocurrency market has shown its ups and downs again, especially with Bitcoin, which recently jumped to a record high of $108,200. This rise created a lot of excitement for traders and investors. But the excitement didn’t last long as Bitcoin’s price quickly fell to $95,000, leading to the liquidation of $540 million in long positions. It’s important to know what causes this big change. Bitcoin reached $108,200 due to

Dogecoin drops over 30% from its yearly high of $0.48

December 22, 2024 1 min read

Dogecoin (DOGE) has fallen a lot, going down more than 30% from its yearly high of $0.48 earlier this month. This decline is linked to various negative signs that indicate prices may drop further as the year ends. Technical indicators suggest that DOGE might drop below $0.20. A significant bearish pattern, called a “Death Cross,” has appeared on the DOGE/USD one-day chart. A short-term moving average, like the 50-day, crosses

The Current Changes in the Blockchain Network: Why Users Need More Bitcoin

December 18, 2024 3 mins read

As we navigate a rapidly evolving cryptocurrency landscape, significant changes have already occurred in the blockchain network, particularly concerning the necessity for investors to increase their holdings of Bitcoin. With the recent resurgence of the Chinese crypto market and the ongoing monopolization of the crypto market by major corporations, the demand for Bitcoin has surged. As we approach the new calendar year, investors should be aware of these developments and