The IRS Investigation Division Is Requesting Information About Privacy-Centric Cryptocurrencies

The United States tax agency has published a request for information pertaining to privacy-centric cryptocurrencies and technologies that obfuscate crypto transactions. The IRS-CI Cyber Crimes Unit request is also asking for information in relation to “layer two offchain protocol networks, sidechains, and the Schnorr Signature algorithm. A recently published IRS-CI Cyber Crimes Unit request that’s available for public viewing is requesting information from “industry partners” in regards to crypto assets that leverage privacy techniques and other types of protocols that hide transaction data. The Request for Information (RFI) was published…

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Despite Covid-19 Negativity, Crypto Prediction Markets Say Trump Wins the 2020 Election

According to a number of crypto prediction markets and futures, Trump will still win the election in 123 days, but his chances have lessened a great deal. No matter who wins, however, the large sums of money flowing into these wager platforms indicate that people love to bet on election outcomes. It’s been roughly four months since the start of the coronavirus outbreak in the United States and it has shaken the country to its core. How the government dealt with the Covid-19 situation is an extremely controversial subject and…

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Investment Firm Arcane Crypto to Go Public via $33 Million Reverse Merger

Arcane Crypto, a Norway-based investment company, said Thursday that it is planning to go public through a reverse takeover by Vertical Ventures, a publicly traded Swedish firm. Vertical Ventures will buy Arcane Crypto for $33 million by issuing over 6.6 billion new shares. Each share cost $0.005 or half a cent, according to a statement released by the company on July 2. Once the merger is completed, Arcane, which operates Arcane Research, will be listed on Nasdaq First North Growth Market, where Vertical Ventures currently trades. Owners of Arcane will…

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Trouble in Defi Paradise: Compound-Issued DAI Surpasses DAI in Circulation

A number of cryptocurrency proponents have been discussing the stablecoin DAI this week, as the DAI allegedly held on the Compound platform is much larger than what is recorded in circulation. At press time, Compound statistics show there’s $523 million worth of DAI held in reserves, while the web portal daistats.com shows there’s only 160 million DAI in circulation. There seems to be another mystery in the world of decentralized finance (defi) again as the crypto community is now discussing the stablecoin DAI and the algorithmic money market protocol Compound.…

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UK Court Denies Maduro Access to $1 Billion of Venezuela’s Gold

The UK is denying Nicolas Maduro access to Venezuela’s gold worth about $1 billion, stored at the Bank of England. The UK High Court has ruled that the country does not recognize Maduro as president of Venezuela, blocking him from accessing the much-needed gold. England Denies Maduro Access to Venezuela’s Gold Nicolas Maduro’s attempt to access his country’s gold stored at the Bank of England has been dealt a blow as the U.K. High Court ruled against him on Thursday, blocking his government’s access to $1 billion in gold reserves.…

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Crypto Use-Cases in Africa on the Rise, According to Luno

Twitter and Square CEO, Jack Dorsey recently said “Africa will define the future (especially the Bitcoin one!)” But was he right? Crypto in Africa on the Rise Sad to be leaving the continent…for now. Africa will define the future (especially the bitcoin one!). Not sure where yet, but I’ll be living here for 3-6 months mid 2020. Grateful I was able to experience a small part. 🌍 pic.twitter.com/9VqgbhCXWd — jack (@jack) November 27, 2019 Earlier this year, Luno published The State of Crypto in Africa report in collaboration with Arcane…

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Demand for Bitcoin Will See a Dramatic Shift in 8 Years – Retail Investors to Eat up Entire New Supply

A recent report from ZUBR Research explains that by 2028, retail demand for bitcoin will exceed the new supply. The report highlights that in eight years as Bitcoin’s supply rate decreases “retail size addresses [will] begin to eat up all the new supply alone.” Even the next halving in 2024 could see retail accounting for acquiring 50% of the bitcoins in circulation. Not too long ago, cryptocurrency proponents witnessed the Bitcoin (BTC) network’s third halving, which cut the block reward by 50% on May 11, 2020. Just before the third…

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Russian Court: Bitcoin Theft Not a Crime

A Russian district court has dismissed bitcoin theft as a crime since cryptocurrency is not regulated in Russia and there is no legal status for bitcoin. The accused were found guilty, sentenced to prison, and ordered to return only the fiat money stolen — not cryptocurrencies. St. Petersburg’s Petrogradsky District Court has announced the verdict in a theft case involving bitcoin filed in December, the joint press service of the judicial system of St. Petersburg announced on Tuesday. The two accused, Peter Piron and Yevgeny Prigozhin, disguised as officers of…

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Mining Company Ebang’s Stock Listed on Nasdaq Down 11%, Firm Plans to Launch Offshore Exchange

The bitcoin ASIC mining rig manufacturer, Ebang International Holdings, was recently listed on Nasdaq last Friday on June 26. Ebang is now the second mining rig manufacturer to have a U.S. initial public offering (IPO) by selling company shares. Since the initial sale on opening day, Ebang’s Nasdaq-listed “EBON” is down 11.5%. So far, the Nasdaq shares dubbed “EBON” haven’t changed too much in price and since the IPO launch. This week Ebang also revealed it is launching an offshore crypto exchange later this year. The firm Ebang International Holdings…

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Demand for Bitcoin Will See a Dramatic Shift in 8 Years – Retail Addresses to Eat up Entire New Supply

A recent report from ZUBR Research explains that by 2028, retail demand for bitcoin will exceed the supply. The report highlights that in eight years as Bitcoin’s supply rate decreases “retail size addresses [will] begin to eat up all the new supply alone.” Even the next halving in 2024 could see retail accounting for acquiring 50% of the bitcoins in circulation. Not too long ago, cryptocurrency proponents witnessed the Bitcoin (BTC) network’s third halving which cut the block reward by 50% on May 11, 2020. Just before the third BTC…

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