News – Page 40

South Korea Reportedly Pushes for 2-Year Postponement on Crypto Taxation

South Korea’s ruling People Power Party is reportedly advocating for a further two-year taxation postponement on cryptocurrency investment gains. The program was scheduled earlier for 2023 and rescheduled to January 2025, and the current request is looking to push it to 2027. A political leader from the party also highlighted the risks of implementing taxation without having a solid tax base. Further, the postponement, he says, is part of the party’s election pledge targeting 2030. He believes that at least two years will allo

Source: Wayne Jones, 2024-02-20; https://cryptopotato.com/south-korea-reportedly-pushes-for-2-year-postponement-on-crypto-taxation/

Chainlink (LINK) Soared to 2-Year Peak as Whale Activity Surges

Chainlink’s LINK token has surged 38% since late January, propelling it to a 24-month peak, with its market cap reaching $10 billion. A mysterious whale has recently been accumulating Chainlink (LINK), according to Lookonchain. The unidentified entity, potentially an institutional player, has withdrawn 2.7 million LINK tokens from the cryptocurrency exchange Binance using 49 new wallets. Separately, data from Glassnode charts indicates that approximately $75 million worth of LINK has flowed onto cryptocurrency trading platforms since February 1st.

Source: Wayne Jones, 2024-02-08; https://cryptopotato.com/chainlink-link-soared-to-2-year-peak-as-whale-activity-surges/

Metaco CEO and CPO Reportedly Depart Following Ripple Acquisition

Adrien Treccani, Metaco’s founder and CEO, and CPO Peter DeMeo have left the firm. Metaco is yet to announce the employees who will fill in those roles. Speculators believe the Ripple deal may have raised the need for a leadership transition. Ripple acquired the custody firm in May 2023 for $250 million.. Ripple looked forward to ramping up its enterprise offerings while providing the technology for users to custody, issue, and settle any tokenized assets.

Source: Mandy Williams, 2024-02-13; https://cryptopotato.com/metaco-ceo-and-cpo-reportedly-depart-following-ripple-acquisition/

Top 3 Altcoins That Could Outperform Bitcoin in 2024

The cryptocurrency market continues trending upward in the first months of 2024. For the first time since April 2022, the total market capitalization has exceeded the $2 trillion mark. Bitcoin is leading the pack, charting an increase of around 20%, while the majority of altcoins are lagging behind. The frontrunner of Decentralized Finance (DeFi), Ethereum, is always in the conversation. According to ChatGPT, ETH has been considered as the most valuable cryptocurrency after Bitcoin in the past.

Source: George Georgiev, 2024-02-15; https://cryptopotato.com/top-3-altcoins-that-could-outperform-bitcoin-in-2024/

Crypto Mom Disagrees With SEC’s Denial of Petition to Amend Gag Rule

Hester Peirce, a commissioner for the United States Securities and Exchange Commission (SEC), has expressed her disagreement with the agency’s denial of a petition to amend a rule that prevents defendants from denying any allegations in settlement enforcement actions. The gag rule is a part of the SEC’s policy adopted in 1972, which requires defendants to agree that they will not take any action or make public statements denying allegations in the complaints brought against them. In essence, the rule does not permit respondents to consent to a judgment or order that imposes a sanction while denying the complaint’s allegations; otherwise, the SEC can ask the court to vacate the settlement.

Source: Mandy Williams, 2024-02-04; https://cryptopotato.com/crypto-mom-disagrees-with-secs-denial-of-petition-to-amend-gag-rule/

Citibank Is Now Experimenting With Issuing Stocks On The Blockchain

Citi is experimenting with tokenized securities on the blockchain to bolster the adoption of distributed ledger technology on Wall Street. The bank collaborated with Wellington Management and WisdomTree – a crypto-supportive ETF sponsor – to initiate its “proof of concept” for the program. Based on the results of the “simulation,” the bank will determine whether it plans to offer related blockchain-based services in the coming weeks. The latest test, as reported by , tokenized a hypothetical Wellington-issued private equity fund on Avalanche – a smart contract platform whose native coin is the 10th largest crypto by market cap.

Source: Andrew Throuvalas, 2024-02-15; https://cryptopotato.com/citibank-is-now-experimenting-with-issuing-stocks-on-the-blockchain/

What We Know About OpenAI’s Sora So Far – the New Text to Video AI

Sora is OpenAI’s new AI model aimed at generating videos from text prompts. The release saw some of the most popular internet personalities engage, including but not limited to Marques Brownlee, MrBeast, Elon Musk, and many, many more. In essence, it’s a text-to-video. You prompt it with instructions, an video is generated. The firm is now offering access to a limited number of creators. It is not yet clear if it will be available to the general public.

Source: George Georgiev, 2024-02-17; https://cryptopotato.com/what-we-know-about-openais-sora-so-far-the-new-text-to-video-ai/

Crypto Spring Is on The Horizon, Says Morgan Stanley

Morgan Stanley Wealth Management says Bitcoin’s upcoming halving event may be the dawn of a new bull market. The bank claims that “crypto winter’ may already be over. “Based on current data, signs indicate that crypto winter may be in the past and that crypto spring is likely on the horizon,” wrote Denny Galindo, author of the report. The timing and magnitude of Bitcoin’s drawdown is worth considering when trying to mark the end of crypto winter.

Source: Andrew Throuvalas, 2023-10-22; https://cryptopotato.com/crypto-spring-is-on-the-horizon-says-morgan-stanley/

Bitcoin Miner Selling Pressure Lowers as BTC Price Goes Above $47K: CryptoQuant

On-chain analysis by market intelligence platform CryptoQuant has found that selling pressure from Bitcoin miners has eased and remained low in 2024. Bitcoin sold daily by miners currently sits around 300 BTC, significantly down from the companies’ 800 BTC daily sales in November and December 2023. Bitcoin’s transaction count has fallen to a three-month low of 278,000 from December’s all-time high of 731,000 daily. The decline in Bitcoin transactions can be attributed to less activity from Ordinals inscriptions.

Source: Mandy Williams, 2024-02-11; https://cryptopotato.com/bitcoin-miner-selling-pressure-lowers-as-btc-price-goes-above-47k-cryptoquant/

Stacks Skyrockets 3,028% in Annual Revenue Ahead of Nakamoto Upgrade

Stacks, a Bitcoin Layer 2 solution, had major growth over the last year with a 3,386% quarterly and 3,028% annual increase in its revenue, reaching $637,000. The market capitalization of Stack’s native cryptocurrency, STX, experienced a significant surge of 203%quarter and an impressive 598% year-over-year, reaching a milestone of $2 billion. The report highlights Stacks’ prominent position within the Bitcoin Layer-2 ecosystem and its prospects for further growth through the Nakamoto upgrade in 2024.

Source: Wayne Jones, 2024-02-18; https://cryptopotato.com/stacks-skyrockets-3028-in-annual-revenue-ahead-of-nakamoto-upgrade/

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