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Kraken To Release Account Data For Certain Crypto Clients To IRS
Cryptocurrency exchange Kraken has notified clients that the company will turn over user information to the IRS. The announcement follows a lengthy legal battle that began in 2021 when Kraken received a John Doe summons from the IRS.
A John Doe summons is an order that does not explicitly identify the person but instead identifies a person or ascertainable group or class by their activities.
According to court documents, that evidence includes a 2019 study indicating that the overall rate of underreporting of income not subject to third-party information reporting was...
US Equity Market Dominance Is Tied to Tech and AI’s Evolution
The dominance of the US stock market relative to other equity markets over the past 15 years is an enigma for many investors who were taught to believe in international diversification.
US equities have outperformed international equities in most years since the 2008 Financial Crisis.
The technology sector was an important factor contributing to the US market’s outperformance. The reason: Tech is by far the most important sector in the S&P 500 index — representing...
US Government Wants SafeMoon CEO Behind Bars Immediately
In a letter to Judge Eric R. Komitee of the Eastern District of New York, the government outlined the charges against Braden John Karony, CEO of SafeMoon. These include securities fraud, wire fraud, and money laundering. The charges stem from activities conducted through SafeMoon, a crypto issuer of digital SAFEMOON Tokens, or SFM, during 2021-2022.
Karony is accused of diverting and misappropriating tens of millions of dollars from victims for personal gain. If convicted on all counts, he could face up to...
Bored Ape NFT Holder Threatens Legal Action Over ApeFest Eye Injuries
Asif Kamal, founder and CEO of art technology company Artfi has put Bored Ape Yacht Club (BAYC) maker Yuga Labs on legal notice—after sustaining an eye infection and facial burns last week in Hong Kong at ApeFest.
After ApeFest attendees reported severe eye pain, Yuga told Decrypt on Monday that it was still investigating the situation and “taking it seriously.” Twitter users have hypothesized that UV-C bulbs, intended for disinfection, were used instead of blacklights in lighting the three-day event.
Crypto Analyst Predicts Steep Rally for Dogecoin
A widely followed crypto strategist thinks that top memecoin Dogecoin (DOGE) is gearing up for a steep move to the upside.
According to the analyst, DOGE may consolidate in the short term before blasting off.
Kaleo says that his bullish stance on Dogecoin is supported by the price action of the Dogecoin versus Bitcoin (DOGE/BTC) chart. According to Kaleo, DOGE/BTC is now trading above a year-long diagonal resistance.
He seems to predict that DOGE will rally above...
Do not keep the money idle in exchanges
Keeping money idle is not a good idea. And that's especially true when it comes down to keeping money in centralized exchanges.
Not only that money is at risk because of the inherent problem of not actually having ownership over the funds, keeping capital idle in exchanges is also a missed opportunity.
The good news is there are great alternatives to exchanges, and the Hive blockchain offers many of them. One example is...
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