President Biden released his administration’s proposed budget for fiscal year 2022. While spending focuses on infrastructure, clean energy, etc., it includes two proposals that would give the Treasury Department additional requirements around what type of financial institutions must report to the Internal Revenue Service (IRS) or other Treasury sub-departments. The…

Here is this week’s news recap. 1) Bitcoin Plummets to Nearly 31,000 USD; Investors Catch the Bottom Coindesk Due to Chinese and US authorities tightening regulation and tax compliance for cryptocurrencies, bitcoin plunges to nearly $31,000 on May 23. However, just a few hours later, the buying force increased strongly, helping the…

Here is a summary of this week’s news. 1) Elon Musk Suggests Tesla May Have Sold Bitcoin; Market Drops Again Bloomberg The price of Bitcoin plummets, sometimes falling below $45,000, right after Elon Musk hinted that Tesla might have sold the coin. Read more. 2) FDIC and BOFA Exploring “Current…

Here is a summary of this week’s news. 1) Musk’s SpaceX Accepts Dogecoin as Payment Coindesk Calling it the first-ever commercial lunar payload in history, paid entirely with Dogecoin, Geometric Energy Corp. said the DOGE-1 Mission to the Moon will launch aboard a SpaceX Falcon 9 rocket in Q1 2022. Read more…

Bitcoin plunged, as much as 15%, sinking to as low as $46,045 after Tesla’s Musk suspends Bitcoin payments due to the said cryptocurrency’s mining’s environmental impact. In a post on Twitter Wednesday, Musk expressed his concern over “rapidly increasing use of fossil fuels for Bitcoin mining and transactions.” He also…

Here is a summary of this week’s news. 1) DeFi Adoption on the Binance Smart Chain Reaches New Highs Cointelegraph Token prices and total value locked of Decentralized finance protocols on the Binance Smart Chain rise toward new highs while DeFi projects that operate on the Ethereum (ETH) network continue…

Here is a summary of this week’s news. 1) After a 5-Day Losing Streak, Bitcoin Spikes to over $52k CoinDesk After a sharp drop that shocked the entire cryptocurrency market, Bitcoin rose for the first time in six days. Since then, the crypto market also started to flourish, a series…

Here is a summary of this week’s news. 1) Similarities between Bitcoin and Dogecoin CoinDesk Doge, a known meme coin, rose unexpectedly, making overnight millionaires. What is the secret behind Doge’s success? How is it similar to Bitcoin? Coindesk’s Adam B. Levine points out the similarities between Dogecoin and Bitcoin…

In the cryptocurrency world, there’s the coin that rules them all — Bitcoin. And then there are the alternative coins, or what we call “altcoins.” Out of all the altcoins in the market, ETH reigns supreme. It’s no wonder that its value is currently over $2,000 USDT. Before we get into what the altcoin season is all about, let’s get to know the terms we will be using in this article. Definition of terms