Day: May 16, 2022

Miami and New York City coins tank despite Mayoral endorsements

Brian Quarmby

Despite being publicly endorsed by the respective mayors of both cities, MiamiCoin (MIA) and NewYorkCityCoin (NYC) have plunged 90% and 80% since their all-time highs. According to data from CoinGecko, the price of MIA has dropped 92% since its ATH of $0.055 on Sept. 20 to sit at $0.004 at the time of writing. While NYC’s value has fallen by 80% since its March 3 high of $0.006 to trade at $0.0014. With investors getting burned across many other crypto assets of late, demand for MIA and NYC coins has…

Employee note: An update on hiring plans | by Coinbase | May, 2022

Aayush Jindal

By Emilie Choi, President and Chief Operating Officer I shared an update with our employees today that I want to also share publicly. Please note that these changes are not expected to have any material impact to our previously communicated expense outlook for Q2, or full-year 2022, as disclosed in our Q1 shareholder letter. Tl;dr: To ensure we’re best positioned to succeed during and after the current market downturn, we’re announcing we’re slowing hiring so we can reprioritize our hiring needs against our highest-priority business goals. Hi all: We’ve made…

Bitcoin Holds Key Support, Why BTC Must Clear This Resistance

Aayush Jindal

Bitcoin corrected lower and tested the $29,000 support against the US Dollar. BTC must settle above the $30,500 resistance to start a decent increase. Bitcoin failed to gain pace above $31,000 and corrected lower below $30,000. The price is now trading above the $30,000 level and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $29,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a close above…

Portugal to lose crypto tax haven status as state announces gains duties

Brian Newar

To the chagrin of many Golden Visa seekers, Portuguese Finance Minister Fernando Medina has confirmed that his country will begin taxing cryptocurrency but has not committed to a date. The move to start taxing crypto was seconded by Secretary of State for Tax Affairs António Mendonça Mendes on May 13 according to Sapo, a local news outlet. There is not yet an effective date for the tax to start or a set rate, however. It will be levied on investment gains made from cryptocurrencies like Bitcoin (BTC), the largest crypto…

How Not to Run a Crypto Exchange

Anthony B

Crypto exchanges balance business interests against security risks. Users want fast withdrawals, and also expect their funds to be secure. Cold, or offline, wallets are safe from hackers but slow down withdrawals. Hot wallets, connected to the internet, are riskier yet make withdrawals easy. In 2019, MPC technology was a popular middle option, a former Liquid employee recalled. Author: Lavender Au Source link

Twitch Co-Founder Raises $24M for Web3 Gaming Company Metatheory

Anthony B

Metatheory, a Web3 gaming and entertainment company, has raised $24 million in a funding round led by Andreesen Horowitz, with Pantera Capital, FTX Ventures, Dragonfly Capital, and others participating.  Founded by Twitch Co-Founder Kevin Lin, Metatheory is currently developing its flagship project, DuskBreakers, a sci-fi franchise with two minigames. The project makes use of NFTs, unique blockchain-based tokens that demonstrate ownership over digital assets. In this case, the NFTs grant ownership over DuskBreakers characters. “After stepping away from Twitch to explore what’s next in the industry, I truly believe blockchain…

US federal judge approves of Justice Dept criminal complaint on using crypto to evade sanctions

Turner Wright

The United States Department of Justice may move forward on a criminal prosecution case against a U.S. citizen who allegedly violated sanctions through cryptocurrency. According to a Friday opinion filing in U.S. District Court for the District of Columbia, the unnamed individual who is the subject of a criminal investigation by the Justice Department allegedly sent more than $10 million in Bitcoin (BTC) from a U.S.-based crypto exchange to an exchange in a country for which the U.S. currently imposes sanctions — suggesting Russia, Cuba, North Korea, Syria, or Iran.…

California regulator will revisit long-running ban on crypto donations on May 19

Turner Wright

A California state regulator may be looking at overturning a ban on cryptocurrency donations to political campaigns which has been in effect since 2018. According to its May 2022 agenda, California’s Fair Political Practices Commission, or FPPC, has scheduled a “prenotice discussion” on Thursday on the use of cryptocurrencies to make campaign contributions in the state. The commission said it will be considering drafting amendments to its regulations requiring that “no contribution may be made or received in cryptocurrency.” In September 2018, the FPPC voted to ban both sending and…

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