Author: Beverly T. Gilbert
Dogecoin, the famous and leading meme coin in the industry and Elon Musk’s favorite coin, increased more than 24% in the past week during speculation that it could play a part in Musk’s Twitter payment plans. Today, on the 1st of November, DOGE is currently, as of this writing, trading at around $0.1031, posting an increase of 24% on the weekly note, as per data from CoinGecko. Seven days before today, the leading meme coin was trading at around $0.08189, and now it is trading at $0.1031. On the 29th of November, Dogecoin shot above the $0.1 mark and has…
After Portugal announced a hefty 28% tax on crypto gains in October, Itlay is also set to become the latest European country to cash in on crypto with a plan to tax digital trading. According to the proposal bundled in with the country’s 2023 budget, around 26% tax would be imposed on capital gains higher than $2,062 made from trading cryptocurrencies. Previously, by Italy’s tax regime, crypto has been treated in the same way as a foreign currency would be. The latest announcement of imposing a tax on crypto gains came after several global crypto businesses prioritized expansion in Europe…
After the collapse of FTX, which was once the biggest crypto exchange in the world and now is nothing, the faith in other industry’s centralized players was shaken, due to which upcoming platforms and those in the industry are trying to become decentralized based. Today, on the 30th of November, the popular messaging platform Telegram announced its plans to build a trustless and decentralized cryptocurrency exchange platform. In his Telegram channel, Pavel Durov, the founder & CEO of the messaging platform, said that his company would begin building non-custodial wallets and decentralized exchanges that would allow users to trade their…
On the 30th of November, after Federal Reserve Chair Jerome Powell indicated lower interest rates, the leading cryptocurrencies, Bitcoin and Ethereum, and the broader crypto market increased in value. In a speech, Jerome Powell indicated that December would likely bring smaller interest rate hikes. After this speech, Bitcoin, the largest cryptocurrency by market cap, increased by over 2% in value. According to data from CoinGecko, It is currently, as of this writing, trading at around $17,102, a 4% increase over the past 24 hours. On the other hand, Ethereum, the second largest cryptocurrency by market cap, increased more than 6%…
Charles Hoskinson, the founder of Cardano, believes that the collapse of FTX, which was once the biggest crypto exchange in the world and now is nothing, proves the absolute need for decentralization. At the Crypto and Digital Assets Summit of the Financial Times, Charles said that the crypto industry has never been stronger in terms of its offerings to the traditional finance marketplace and the world as a whole but that recent collapses like FTX have demonstrated the necessity for decentralization and proof of reserves. Regarding the current collapse of platforms, Charles said that the failures we’re having aren’t failures…