Teererai Mukonavanhu

An NFT trader from faces jail time after pleading guilty to IRS

April 14, 2025 2 mins read

Waylon Wilcox, a 45-year-old man from Dillsburg, Pennsylvania, has admitted to not reporting his income from selling CryptoPunk NFTs to the IRS. This decision allowed him to avoid paying nearly $3.3 million in taxes. He made over $13 million from selling 97 CryptoPunks between 2021 and 2022 but did not include these sales in his tax filings. This case is significant as it is one of the first major instances

GameStop secures $1.5 billion to buy Bitcoin

April 4, 2025 1 min read

GameStop, the video game retailer, announced on Tuesday that it has raised $1.5 billion through a private offering of convertible notes. The company plans to use this money to invest in Bitcoin. In a filing with the U.S. Securities and Exchange Commission, GameStop confirmed the completion of its offering of 0.00% convertible senior notes, which are due in 2030. This includes an additional $200 million that the initial purchaser opted

US states advance major Bitcoin and crypto bills

March 28, 2025 2 mins read

In March 2025, several U.S. states, including Kentucky, North Carolina, and Arizona, made significant strides in adopting cryptocurrency into their financial systems. Lawmakers are proposing and passing bills that support Bitcoin reserves, crypto mining, and digital asset investments. This shift shows that many see cryptocurrency as a valuable financial asset rather than just a speculative tool. In Kentucky, the governor signed the “Blockchain Digital Asset Act” (HB701) on March 24.

The U.S. SEC closes investigation into Immutable X

March 26, 2025 1 min read

Since January, the U.S. Securities and Exchange Commission (SEC) has ended several investigations into various crypto companies. This includes firms like Kraken, Coinbase, Gemini, MetaMask, OpenSea, Robinhood, and UniSwap. The SEC has also formed a crypto task force led by Commissioner Hester Peirce. This task force aims to clarify how existing securities laws apply to cryptocurrencies. Immutable, an Australian crypto company, welcomed the U.S. government’s efforts to establish clear regulations

Pakistan sets up special electricity tariffs to attract crypto mining

March 23, 2025 1 min read

Pakistan is looking into Bitcoin mining to make use of its excess electricity and develop a regulated digital asset industry. The government plans to introduce attractive electricity tariffs for crypto mining and blockchain data centers. This initiative aims to encourage industries to utilize surplus energy. The new tariffs will be market-based and not dependent on government subsidies. By doing this, the government hopes to lower payments to power producers for

The Federal Reserve maintains the federal funds rate unchanged

March 20, 2025 1 min read

The Federal Reserve decided to keep interest rates steady today, maintaining the federal funds rate between 4.25% and 4.50%. This marks the second consecutive meeting without a change, amid rising recession fears linked to the economic policies of the Trump administration. The Fed has revised its economic forecasts for 2025. It lowered GDP growth expectations from 2.1% to 1.7%. Unemployment forecasts increased slightly from 4.3% to 4.4%. Additionally, projections for

David Sacks sells over $200 million in digital assets including Bitcoin and Ethereum

March 17, 2025 2 mins read

David Sacks, who is the AI and crypto czar for Donald Trump, recently disclosed that he and his firm, Craft Ventures, sold over $200 million in crypto assets before starting his new role. The White House confirmed that at least 85% of this amount is directly linked to Sacks himself. This information was included in a memorandum dated March 5, which also granted him a limited ethics waiver to engage

Johnny Garcia emphasizes education on Bitcoin reserve bills

March 15, 2025 1 min read

Johnny Garcia highlights the importance of education regarding Bitcoin reserve bills to overcome legislative resistance. Currently, 18 states are still considering the adoption of these bills, while five states have rejected them. Garcia argues that the resistance is mainly due to a lack of understanding rather than outright opposition. He believes that incorporating Bitcoin reserves can lead to innovation, better investment frameworks, and increased financial transparency. Many citizens are skeptical

Bitcoin is currently in a prolonged distribution phase, with investors shifting from accumulation to liquidation

Bitcoin enters a distribution phase as investors shift to selling

March 14, 2025 1 min read

Bitcoin is currently in a prolonged distribution phase, with investors shifting from accumulation to liquidation. This change has increased selling pressure, causing Bitcoin’s price to decline. The market has entered a typical phase after reaching all-time highs, which began in early 2025 following a significant price correction. Recent data shows that all wallet sizes are contributing to this selling trend. Both large and small holders have reduced their positions, especially

Pi Network users face migration issues as the March 14 deadline nears

March 10, 2025 2 mins read

Pi Network users, called Pioneers, are feeling frustrated as they face challenges transferring their mined Pi Coins (PI) to the Mainnet. With March 14, 2025, approaching, many users are reporting technical issues that have not been resolved. If they do not complete their Know Your Customer (KYC) verification by 8:00 AM UTC on that date, they risk losing most of their Pi holdings, except for coins mined in the last

Over $3 billion in Bitcoin and Ethereum options set to expire today

March 7, 2025 1 min read

Today, over $3 billion in Bitcoin and Ethereum options are set to expire, leading to expected market volatility. Bitcoin’s key “max pain” level is at $89,000, while Ethereum’s is at $2,300. The expiration of these options is causing significant price fluctuations. Bitcoin has about $2.5 billion in contracts expiring, and Ethereum has around $500 million. This event, happening at 8:00 UTC on Deribit, is likely to create wild movements in

President Trump signs an executive order to establish a Strategic Bitcoin Reserve