Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. The most awaited Aladdin Exchange $1,000,000 event is finally live. The giveaway event is open to the public. People can register on the exchange’s official platform and win prizes. The Aladdin Exchange team announced that the event starts on March 29, 2021, and ends on April 27, 2021. With more than 2 million people already registered, Aladdin Exchange keeps doors open for those who want to register and participate in the simulated trading event . To successfully register and be eligible, users must complete the verification process. Users need to verify the SMS and Aladdin Pro Wallet verification (Level 3) in order to compete and win big rewards. After the registration process, users will get coins to participate in the simulation trading competition. Users who make more profit during the giveaway will be entitled to prizes. 316,752 participants will get the chance to win up to 1,000,000 USD. The 1st, 2nd, and 3rd place holders will win $100,000, $50,000, and $1...

Spanish financial authorities don’t seem to be happy with the massive crypto-related advertising campaigns deployed across Madrid’s streets. The National Securities Market Commission (CNMV) is rushing to approve a regulation on such ads that promote bitcoin in Spain. Proposal Comes in the Wake of a Bitcoin Advertising Campaign Ran by a Local Exchange During a speech at the “Observatory of Finance” conference hosted by El Español, Rodrigo Buenaventura, CNMV president, was vocal on his stance against these ads, considering them “risky.” He referred to all crypto-related advertising, rather than just only promoting bitcoin ( BTC ). Although, he didn’t mention specifically the reasons behind the sudden interest in regulating crypto advertising on streets, it came just after a local crypto exchange, Bit2me, deployed a massive campaign promoting bitcoin in Madrid. In fact, the firm put over 800 posters across the Spanish capital city, and some of them very close to the CNMV headquarte...

The key to properly filing taxes on cryptocurrency comes down to excellent record-keeping, the correct IRS tax forms, and knowledge about what qualifies as income versus capital gains. Handle Tax Filings With Care to Avoid Any Audits Although the traditional April 15th deadline for filing US taxes has been pushed to May 17th, there is no time like the present for organizing cryptocurrency transaction records. At this point, all cryptocurrency transactions are taxable in some constellation, so it’s vital to familiarize yourself with the nuances to ensure you fill in the accompanying tax forms correctly. To give you the inside scoop on streamlining your filings, Bitcoin.com has enlisted advice from Shane Brunette, the CEO of Cryptotaxcalculator . How Capital Gains In Crypto Work Like a stock sale can result in a positive return, resulting in capital gains tax exposure, cryptocurrencies operate similarly. However, exchanging cryptocurrency for fiat currency is only one type of taxa...

The popular safe-haven asset gold recently posted the lowest settlement in three weeks, as a firm dollar and bond market yields have weakened support for the precious metal. The financial goliath BNY Mellon also published a report about the differences between gold and bitcoin and the study said that the crypto asset “fits the description of a nascent currency.” A Firm Dollar and Treasury Yields Takes Some Steam Out of Gold’s Market Performance The U.S. dollar has gained some strength in the last two weeks, and crypto-assets like bitcoin (BTC) have increased in value as well. However, the precious metal (PM) gold has seen better days, as gold prices have retreated during the last few weeks. The price of gold dropped under the $1,700 per ounce range last week but today, the PM has managed to climb back above the psychological price zone. At the time of publication, an ounce of .999 fine gold is trading for $1,716.30 after jumping 1.7% in the last 24 hours. Today’s gold and silv...

Just recently, an individual lost all of his life savings in a matter of no time after he downloaded a malicious and phony Trezor application onto his iOS smartphone from Apple’s App Store. Phillipe Christodoulou lost 17.1 bitcoin or over a million dollars worth of the cryptocurrency using today’s exchange rates. Christodoulou detailed that he’s more upset with Apple than the hackers who stole his precious digital assets. Individual Loses His Life Savings- 17 Bitcoin Gone Malicious and phony applications for smartphones can be a problem for crypto users and not too long ago, Phillipe Christodoulou, lost over 17 BTC . At the time of the theft his stash was worth over $600k, and today it would be well over a million dollars. On that particular occasion, Christodoulou wanted to check his balance, so he headed over to Apple’s App Store and downloaded the fake Trezor application for iOS. However, Trezor doesn’t offer such an application and in fact, the company had been warning about the...

PRESS RELEASE. PARSIQ launches its highly anticipated IQ Protocol – the first risk-free collateral-less decentralized finance protocol built specifically for the Software-as-a-Service (SaaS) market. 31st March 2021, Tallinn, Estonia – PARSIQ has launched their revolutionary IQ Protocol on testnet (Ethereum) – a decentralized finance (DeFi) solution for the SaaS market. IQ Protocol is the world’s first risk-free, collateral-less DeFi protocol to tokenize SaaS subscriptions in the DeFi space with a circular economy. IQ Protocol features several standard DeFi services, including staking, lending, and borrowing. The launch marks PARSIQ’s official entry into the DeFi space . If the testnet release is successful, IQ Protocol’s mainnet is scheduled to launch in Q2 this year, and the team already has interest from several DeFi projects. Furthermore, the PARSIQ team is considering launching the mainnet on several other chains, including Binance Smart Chain (BSC), and Solana (SOL), with...

I opened my Telegram and noticed I had way more messages than usual. I knew something was askew. The headers of the messages were all very similar, “John McAfee just called you an idiot on Twitter.” Here we go I muttered under my breath as I further investigated what all the hype was about. I wandered over to John’s Twitter account and sure enough, John had tweeted that he was abandoning the Ghost project and that Josh Case is an idiot. Let’s back up… **The following essay was written by guest author Josh Case and submitted to Bitcoin.com’s newsdesk to publish as a featured editorial. The work will appear in a book titled “Ghosted,” with never-before-told stories authored by Case. The opinions expressed in this editorial are the author’s own and do not reflect the opinions of Bitcoin.com and its newsdesk. Bitcoin.com is not responsible for or liable for any opinions, content, accuracy, or quality within the article.** I first met John McAfee at his home in Tennessee in the early d...

The New Civil Liberties Alliance has objected to FinCEN’s proposed crypto wallet rule, calling it “unlawful.” In addition, the group says that the U.S. Treasury’s “planned ‘crackdown’ on cryptocurrency holders’ private wallets is an unconstitutional power grab.” FinCEN’s Proposed Crypto Wallet Rule Is Unlawful, Says NCLA The New Civil Liberties Alliance (NCLA), a nonpartisan, nonprofit civil rights group, filed its comments on Monday objecting to FinCEN’s proposed rule , entitled “Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets.” The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Treasury Department. The NCLA warned: The U.S. Treasury Department’s planned ‘crackdown’ on cryptocurrency holders’ private wallets is an unconstitutional power grab … The proposed rule represents a radical — and unlawful — extension of FinCEN’s financial surveillance. The group calls FinCEN’s proposal a “large-scale state intrusion ...

Goldman Sachs has revealed that it will be offering bitcoin investments to its wealth management clients. The investment bank reportedly plans to offer a “full spectrum” of bitcoin investments, “whether that’s through the physical bitcoin, derivatives or traditional investment vehicles.” Goldman Sachs to Begin Offering Bitcoin Investments to Wealthy Clients Goldman Sachs is the second major bank to say that it will be offering its wealthy clients access to bitcoin investments. CNBC reported on Wednesday that the bank is close to offering its first investment vehicles for bitcoin to clients of its private wealth management group. Mary Rich, who was recently named global head of digital assets for Goldman’s private wealth management division, explained that the bank aims to start offering bitcoin investments in the second quarter. She said in an interview last week, “We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ec...

On March 28, the Scottish school in Edinburgh called the Morningside School of Music decided to accept cryptocurrency payments for tuition. Morningside’s director Linda Boyd said the school had noticed the trend of larger firms joining the crypto economy and it’s “just a matter of time before smaller businesses like ours start doing the same,” she said. Playing to the Beat of a Different Drum According to the Morningside School of Music director Linda Boyd, the well known music academy in Scotland is now accepting digital assets as a form of payment. Boyd said during the announcement that the school used bitcoin ( BTC ) in the past to pay for certain items. “We sometimes use things like Bitcoin to pay for goods for the school, so we know how fast and easy it is and want our music students to be able to do the same,” Boyd detailed in a recent interview. She added that many of the school’s adult pupils are employed in the fintech industry and a number of the students suggested the...

Bitcoin’s meteoric rise has inspired many forex and CFD traders to seek a new broker that will offer them access to the crypto market. FTXB, as the premier online platform for CFD trading, is a great place for you to start trading on bitcoin and many other crypto pairs. FXTB Offers CFDs for Bitcoin and Many More Crypto Pairs FXTB , operated by Forex TB Limited, is an online CFD trading broker regulated by the Cyprus Securities and Exchange Commission. The platform offers CFD traders access to the exciting volatility of bitcoin as well as over 40 other crypto assets including ether, ripple, dash and many more. As a regulated company within the European Economic Area, many traders put their trust in FXTB in 2020 – winning it the title of Fastest Growing CFD Broker in Europe. CFD traders will find everything they need to start trading bitcoin at FXTB. This includes a powerful and intuitive trading platform that is available for both desktop and mobile web so you can access the markets...

The Canadian anti-money laundering agency, Fintrac, says it recorded official capital inflows originating from Hong Kong that totaled more than $34 billion in the past year. The outflows, which are the highest since 2012 when the earliest Fintrac records are available, “are the first evidence of a significant flight of capital overseas from the Asian financial hub following the security turmoil.” Accounts Frozen As detailed by one report , the city’s record capital transfers, which are “up 46 per cent from 2016 and 10 percent from 2019, came in a year when Hong Kong police froze the accounts of several people linked to pro-democracy protests.” This freezing of bank accounts, in turn, triggered “concerns among some residents about asset safety.” Meanwhile, Darren Gibb, a spokesman for Fintrac suggests that some of the fleeing Hong Kong residents could be using cryptocurrencies to move funds ashore. He said: The Fintrac data captures only a fraction of total legal inflows into the ...

The cryptocurrency bull run has been the most notorious headline highlighted in the last few months, but more figures are being watched beyond bitcoin prices. A new report released by Pricewaterhousecoopers (PWC) revealed that crypto merger and acquisition (M&A) deals skyrocketed in 2020. 2021 Is on Track to Surpass Last Year’s Numbers, PWC Says Quoted by Bloomberg , the consulting firm pointed out that the crypto M&A sector more than doubled last year to $1.1 billion from 2019 figures. Geographically speaking, the United States is still taking the lead by itself, as deals taking place in the region accounted near $785 million. Still, Europe and Asia together, as EMEA region, generated $303 million in crypto M&A deals, said PWC. Henri Arslanian, global crypto leader of PWC, highlighted the fact that 2020 numbers posse a record for the sector. However, he added that 2021 is on track “to significantly surpass it from every single metric.” The study says that findings su...

Following an initial seed capital round of $1.4 million, Purestake has raised a $6 million strategic round of financing from a consortium of investors to accelerate development, as the team aims to bring the Moonbeam network live in the second half of the year. Ethereum-Compatible Smart Contract Initiative Aims To Deliver Mainnet By Mid-2021 Ethereum may be the blockchain of choice for many decentralized application (dapp) and smart contract developers at present, but that paradigm is quickly shifting as more roads lead towards Polkadot, an up-and-coming cross-chain communication protocol. Among the fascinating projects hoping to build on Polkadot’s forthcoming parachains is Moonbeam, a protocol that assists developers with deploying multi-chain projects. By incorporating the Ethereum Virtual Machine (EVM) and Web3 compatibility, Moonbeam facilitates direct connections with the Ethereum network, helping smart contracts and dapps operate flawlessly on multiple blockchains simultaneo...

South Korea’s “crypto boom” is a term that the local media has widely adopted to refer to the current hype seen across the Asian nation. In fact, a recent study unveiled a rising trend in the number of South Koreans making small-scale crypto investments. New Crypto Investors Seem Unafraid of Strict Regulations According to the “Virtual Currency App Market Analysis” research made by big data firm IGA Works, quoted by Edaily , almost 60% of the newest crypto investors in the country are aged 20-30. Remarkably, such a segment of traders often prefers to allocate “smaller amounts” of money into cryptos, specifically up to $100. But the study went more in-depth and clarified that South Korean crypto investors aged 20 through 30 are looking for bitcoin ( BTC ) and “top 10-by-market-cap altcoins” investments. A trader identified just as “Mr. A” claimed that he allocates around 100,000 Korean won ($88) every month from his payday on BTC and such altcoins. IGA Works says that the number ...