Author: CryptoHoppers

The Federal Accounting Standards Advisory Board (FASAB) has clarified that seized crypto assets should be treated as “nonmonetary property” while central bank digital currencies (CBDCs) should be treated as monetary instruments. The federal authority claims that cryptocurrencies “do not typically possess all monetary characteristics,” emphasizing that they “are not effective as a unit of account, […] Source link

America’s ever-growing debt problem is a ticking time bomb that could either push the crypto market to record-breaking heights or bring it crashing down. The Congressional Budget Office (CBO) recently projected that aid packages for Ukraine and Israel, combined with other factors like student loan forgiveness, will push the US deficit to a staggering $1.9 trillion this fiscal year. This ballooning deficit, coupled with a shift towards short-term financing, has some MAJOR implications for the US economy, money markets, and the fight against inflation. America’s updated budget outlook. Source: CBO Boosting Crypto One key way America’s debt problem would benefit…

Share this article Fund group YieldMax filed with the US Securities and Exchange Commission (SEC) to launch an Ether Option Income Strategy ETF on the New York Stock Exchange, Arca, according to a filing dated June 21, 2024. The move comes ahead of the anticipated launch of spot Ether ETFs in the US.The ETF, using a synthetic covered call strategy, aims to capitalize on the volatility of underlying spot Ethereum ETFs for income generation. Spot Ether ETF holders can sell call options to earn additional income and manage risk. According to the filing, the fund does not invest directly in…

Four Vietnamese nationals were charged in a U.S. court for a series of cyber intrusions causing over $71 million in losses. The defendants, part of the cybercrime group “FIN9,” allegedly hacked U.S. companies from May 2018 to October 2021, stealing non-public information, employee benefits, and funds. They used stolen personal and credit card information to […] Source link

Real Vision macro expert Julien Bittel believes that Bitcoin (BTC) is on the verge of going parabolic based on historical precedence. Bittel tells his 69,400 followers on the social media platform X that Bitcoin is in a historical “boring” phase ahead of an expected “banana” rally that has come after the halving events when miners’ rewards are cut in half. “What we’re currently witnessing in terms of Bitcoin price action is fairly typical around the actual halving: a big pump leading into the halving, followed by a brief but sharp correction, a period of sideways chop, a final dump to…

BitTorrent has announced the official release of BTFS V3.0 Heisenberg on the mainnet. The new update brings multiple intuitive features to elevate user experience, operational efficiency, and network security. The mainnet release was made on the official X account of BitTorrent. The tweet, along with a Medium post, shed light on what the update is bringing. The new features include:- Improved Encryption: After BTIP-72, BitTorrent has invested efforts in supporting symmetric encryption to satisfy diverse user requirements. Enhanced Node Security: After thorough community discourse on BTIP-72, the export and import of keystore files are now allowed. It will simplify management…

Share this article 3iQ Digital Asset Management, a Canadian digital asset investment fund manager., has filed for the initial public offering of the first Solana exchange-traded product (ETP) in North America.The Solana Fund, under the ticker QSOL, will be listed on the Toronto Stock Exchange, offering exposure to Solana’s digital currency, SOL. UPDATE: 3iQ just filed to launch the first Solana ETF in Canada (and thus North America). Looking to launch under the ticker $QSOL. Canada had spot Bitcoin and spot Ethereum ETFs before the US even got futures ETFs for either asset. h/t @alextapscott https://t.co/Ra6vDdepil pic.twitter.com/LRO4NJWhAr — James Seyffart…

India’s Directorate of Enforcement (ED) has arrested Manideep Mago under the Prevention of Money Laundering Act (PMLA), 2002, in connection with an “illegal foreign remittances case” involving cryptocurrency. The investigation uncovered that a Delhi-based company sold cryptocurrencies worth over Rs. 1858 crore ($223 million) on crypto exchanges and made foreign remittances exceeding Rs. 3500 crore. […] Source link

The Crypto community rejoiced after the crypto winter finally came to an end and Bitcoin rallied to an all-time high of over $70k. However, there is a major concern growing among holders as Bitcoin price recently dropped below $65k suggesting the onset of a bearish market. The effect of BTC price movements was evident as all major Altcoins took a hit falling by double-digit percentages. As the 24-hour crypto market cap fell by 3.5% amounting to $2.6 trillion, it is creating a tense environment. As the FUD seems to grow, we try to examine a few contributing causes behind the…

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. These days, the internet has become our second home. It’s where we communicate, work, shop, and socialize. But lurking beneath the surface lies an unsettling truth: we are being watched. Online surveillance has grown into an unprecedented force, infringing on our privacy and encroaching into every aspect of our lives. I believe blockchain technology holds the key to reclaiming our digital freedom. Online surveillance isn’t anything new. In the early 2000s, with the advent of social media…