Accountants dressed in protective gear carry bitcoin, tax form and pencil. getty Do you pay tax on your crypto gains? The IRS wants you to. Do you claim tax losses for your crypto losses? The IRS probably cares a less about that, but you are entitled to claim your tax losses too, which can lessen…
Members of the secretive management team behind $83 billion worth of Tether stablecoin have literally minted their own fortunes. By Steven Ehrlich and Nina Bambysheva, Forbes Staff Crypto is struggling. Under attack from regulators, the overall value of cryptocurrencies is down approximately 60% from its 2021 highs. But one digital asset company is thriving: stablecoin…
Topline Jesse Powell—the founder and former CEO of crypto exchange Kraken—had his home searched by the FBI earlier this year as part of a hacking and stalking investigation involving a nonprofit, according to the New York Times, making him the latest high-profile cryptocurrency figure to face federal scrutiny. Jesse Powell, chief executive officer of Kraken…
Crypto Currency – Nest egg – wealth generation getty A recent survey¹ found that 89% of Crypto owners are worried if they pass away, their families will not be able to identify and access their Cryptocurrencies. So, what does financial legacy planning look like for Cryptocurrency? How should you include digital assets in your estate…
Topline Damus, a decentralized social networking app backed by Twitter co-founder Jack Dorsey featuring bitcoin transaction features, will be removed from the App Store over non-compliance of Apple’s payment guidelines after the tech giant followed through on threats to take down the app over a dispute around Damus’ tipping feature. Jack Dorsey, a co-founder of…
Securities and Exchange Commission Chairman Gary Gensler testifying on Capitol Hill. (Photo by … [+] Brendan Smialowski/Getty Images) Getty Images Representative Warren Davidson admits he might not have the votes to fire Gary Gensler, but the crypto-friendly Ohio Republican wants the SEC chairman to rein in his attack on the digital-assets industry. “The SEC Stabilization…
CBDC could be coming to you sooner than you think. getty The U.S. Department of Justice has started targeting crypto exchanges that have either weak controls that allow scam artists to commit investment fraud of investor’s crypto accounts, according to a May 15, 2023, article found on CoinDesk. The article quotes the FBI as stating…
Topline The naming rights for Crypto.com Arena in downtown Los Angeles will not be impacted by the close of Crypto.com’s institutional exchange service, according to the company—despite speculation the exchange update could have led to a change in the storied arena’s name. Crypto.com Arena’s naming rights will not be changed following Crypto.com’s decision to shutter…
UNITED STATES – NOVEMBER 18: Commodity Futures Trading Commission Chairman Gary Gensler testifies … [+] during the Senate Agriculture, Nutrition and Forestry Committee hearing on reforming the United States financial market regulations on Wednesday, Nov. 18, 2009. (Photo By Bill Clark/Roll Call/Getty Images) CQ-Roll Call, Inc via Getty Images There is a lot going on…
(Photo by Silas Stein/picture alliance via Getty Images) dpa/picture alliance via Getty Images Key takeaways The U.S. regulatory financial body has sued both Binance and Coinbase COIN , two of the biggest fish in the crypto industry, this week Both companies deny running unregistered securities and defying regulatory structures Bitcoin dropped 6%, while Coinbase’s share…