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☆ Ether has been climbing ahead of its planned 'Shanghai' tech upgrade. Here's what the event could mean for crypto investors
▼ + stars: | 2023-04-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Ether rose last week as investors looked ahead to the Ethereum network's next big tech upgrade. "And greater participation in ETH staking strengthens the security of the Ethereum network as a whole." Data from CryptoQuant suggests any sell pressure would be low, however. Currently, however, the majority of the ETH staked (54%, or 9.7 million ETH) is currently at a loss, the firm said. "Given there's a limited amount of participants that can exit in a day, this sell pressure will not be as instant or violent as advertised by some commentators," he said.

☆ Ether is rallying ahead of major upgrade that will let holders more easily access their tokens
▼ + stars: | 2023-04-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

Ethereum underwent a huge network upgrade called the merge which proponents say will make transactions much more energy efficient. Following the merge, ether prices have dropped following a huge run up ahead of the event. Ether has spiked this week to a nine-month high, ahead of a major network upgrade that some crypto enthusiasts say will make the digital currency a more profitable long-term investment. Currently, over 18 million ether tokens worth about $32.5 billion are staked, meaning that 15% of ether's total supply are considered locked assets. That could signal a buildup of bearish bets leading up to the network upgrade.

☆ Ether's strong first-quarter performance was upstaged by bitcoin. Here's what comes next
▼ + stars: | 2023-04-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

Bitcoin opened investors' eyes to the diversity of its narrative as its price fought a banking crisis, a regulatory crackdown and persistent inflation. Further, some see technological advances on the Ethereum network as laying the groundwork for the new cycle. That breakthrough accelerated its development pathway, allowing major Ethereum blockchain upgrades on the regular, Hougan added. "There are positives and negatives that could come from the Shanghai upgrade," he said. The Shanghai upgrade follows the Ethereum Merge , the September transition of the network from proof-of-work to proof-of-stake.

☆ Donald Trump's NFT trading cards jumped in value to almost $1,700 after Manhattan indictment
▼ + stars: | 2023-04-01 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Trump's digital trading card NFTs soared in value to nearly $1,700 USD following his indictment. Trump is likely to surrender to the Manhattan DA's office on Tuesday, his attorney previously told Insider. According to Newsweek, the floor price of Trump's NFT trading cards was 0.41 Ethereum (ETH), or about $748 USD, on March 30 when Trump was indicted. Trump faces over 30 charges in the indictment, according to a CNN report. Trump attorney Joe Tacopina previously told Insider that Trump is likely to surrender to the Manhattan DA's office on Tuesday.

☆ An NFT collector accidentally destroyed a $129,000 CryptoPunk: 'This is truly a devastating mistake for me'
▼ + stars: | 2023-03-30 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

With one wrong move, a non-fungible token (NFT) collector made a very costly mistake. On March 25, Brandon Riley tweeted that he accidentally destroyed his CryptoPunk #685, an NFT he had purchased weeks earlier for 77 ETH, which was worth about $129,437 at the time, according to Etherscan. While following a step-by-step guide on how to complete the transaction, Riley unintentionally sent his NFT to a burn address, he explained on Twitter. A burn address is a virtual wallet that doesn't have a private key, meaning no one can access it. These types of wallets are typically used to permanently destroy a certain number of tokens, thus creating scarcity and potentially causing the price of that token to rise, according to Coindesk.

☆ Europe drought: This once-thriving lake has all but dried up -- a story repeated across Europe
▼ + stars: | 2023-03-30 | by ( Laura Paddison | ) edition.cnn.com time to read: +9 min

While in the United States, the snow and rain that have pummeled California have helped fill reservoirs and ease unrelenting drought, winter has been far from kind to many parts of Europe. A buoy is seen on the banks of the partially dry Lake Montbel as France faces a record winter dry spell. “Lake Montbel remains at an abnormally low level,” Franck Solacroup, the regional director of the Adour-Garonne Water Agency, which covers the area that includes Lake Montbel, told CNN. Farmers like Rouquet, who rely on the lake, are having to make tough decisions on what to grow. “This is the most extreme winter in terms of low snow cover,” she told CNN.

☆ Coinbase could tumble more than 45% as prolonged SEC battle unfolds, TD Cowen says
▼ + stars: | 2023-03-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A prolonged battle with the U.S. Securities and Exchange Commission will weigh on shares of Coinbase near term, according to TD Cowen. Stephen Glagola downgraded shares of the cryptocurrency exchange operator company to underperform, citing "incremental risk to operations" as the SEC cracks down on crypto banking. The downgrade from TD Cowen comes after the SEC this week issued a Wells notice to Coinbase that warned the company of potential U.S. securities law violations. Glagola also views Coinbase's staking business at risk after Kraken shuttered its own staking operations in a settlement with the SEC . A forced closure of this business would weigh on a component of Coinbase's subscription and services revenue, Glagola wrote.

☆ Credit Suisse rescue creates bank twice the size of Switzerland's economy
▼ + stars: | 2023-03-23 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

London CNN —The last-minute rescue of Credit Suisse may have prevented the current banking crisis from exploding, but it’s a raw deal for Switzerland. An aerial view of the headquarters of Credit Suisse, center, and UBS, left, at Paradeplatz in Zurich, Switzerland on Sunday, 19 March, 2023. Credit Suisse is “part of Switzerland’s identity,” said Hans Gersbach, a professor of macroeconomics at ETH university in Zurich. “The Credit Suisse Swiss bank is a fine asset that we are very determined to keep,” Kelleher said Sunday. Integration is difficultAt $3.25 billion, UBS got Credit Suisse for 60% less than the bank was worth when markets closed two days prior.

☆ Analysis: Credit Suisse collapse threatens Switzerland's wealth management crown
▼ + stars: | 2023-03-22 | by ( John Revill | ) www.reuters.com time to read: +6 min

[1/3] Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland March 20, 2023. Switzerland's credibility as a stable, predictable country had been upended by moves like the decision to wipe out the holdings of Credit Suisse bondholders, he said. Under the takeover deal, holders of Credit Suisse AT1 bonds will get nothing, while shareholders, who usually rank below bondholders in compensation terms, will receive $3.23 billion. "In that sense I also see a prosperous future for the financial centre because we have hundreds of very well capitalised banks and very successful wealth management and asset management banks." Reuters Graphics Reuters GraphicsReuters GraphicsOthers were more skeptical about the future, highlighting a reluctance to confront mistakes at Credit Suisse or take responsibility for the aftermath.

☆ How crypto prices may react to the latest Fed decision
▼ + stars: | 2023-03-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The Fed is due to conclude its two-day meeting and unveil its latest policy decision at 2 p.m. Still, inflation and Fed rate hikes remain the biggest catalysts for bitcoin. Here are three scenarios Chhugani and Agrawal are watching, and what investors how investors could expect to see prices react. "Crypto markets may rally on the immediate risk-on impulse, and it may vindicate some who have been saying the Fed reversed course, after breaking the banks," they said. "But any near term crypto rally would find it hard to sustain growth if crypto simply pivots to a risk on trade."

☆ Venture capitalists have never been more divided, with accusations flying over who killed their beloved bank SVB. How long will the bad blood last?
▼ + stars: | 2023-03-16 | by ( Ben Bergman | ) www.businessinsider.com time to read: +5 min

But in the past week, VCs aired their dirty laundry for all the world to see. Still, VCs say they have no choice but to set aside their differences and work together in the future. "Silicon Valley Bank was such a great friend of VCs for so many years that it was just really disappointing to see so many VCs work so quickly to kill it." But in the past week, VCs aired their dirty laundry for all the world to see, criticizing those who they say triggered a $42 billion bank run that doomed SVB. There's been particular animus for Founder's Fund, the venture firm founded by billionaire Peter Thiel that backed Facebook and Airbnb.

☆ Bitcoin jumps 10% with crypto market topping $1 trillion as U.S. creates backstop for SVB depositors
▼ + stars: | 2023-03-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

In this article SBNYBTC.CM=ETH.CM= Follow your favorite stocks CREATE FREE ACCOUNTJakub Porzycki | Nurphoto | Getty ImagesCryptocurrencies rallied on Monday as the U.S. government moved to protect depositors of the collapsed Silicon Valley Bank and HSBC bought the lender's U.K. arm. Bitcoin was up nearly 10% at 3 a.m ET at $22,560.20, its highest level in 10 days, according to CoinDesk data. It has been a rollercoaster ride for crypto markets after the collapse last week of Silvergate Capital, a major lender to the crytpo industry. Then came the collapse of Silicon Valley Bank on Friday in what was the biggest banking failure since the 2008 financial crisis. That was followed on Sunday by the closure of Signature Bank , a major lender in the crypto industry, by U.S. regulators to stem any contagion to the broader banking sector.

☆ More than $70 billion wiped off crypto market in 24 hours as bitcoin drops 8% below $20,000
▼ + stars: | 2023-03-10 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

The cryptocurrency market saw more than $70 billion wiped off its value over the course of the 24 hours to 5:12 a.m. On Tuesday, U.S. Federal Reserve Chairman Jerome Powell indicated that interest rates may go higher —and stay higher — than expected. The raising of interest rates over the past year has weighed on risk assets such as stocks, and in particular cryptocurrencies. Banking worriesAnother major factor weighing on crypto prices is the collapse of Silvergate Capital, a major lender to the crytpo industry. Providing traditional banking services while also funding tech projects, it is considered a backbone of the venture capital industry in the U.S.

In papers filed with a state court in Manhattan, James is seeking a permanent injunction to stop KuCoin from operating in New York until it complies with the law. KuCoin trails Binance, Coinbase and Kraken in trading volume among cryptocurrency spot exchanges, according to the data company CoinMarketCap. Last month, James sued the CoinEx cryptocurrency platform for failing to register with the state. In January, 10 states including New York secured up to $24 million from the cryptocurrency company Nexo Inc, which they also accused of operating illegally. Reporting by Jonathan Stempel in New York; Editing by Diane Craft and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

☆ As NFT trading surges, a 'golden key' prize from Yuga Labs' limited-time game sold for $1.6 million
▼ + stars: | 2023-03-03 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

A non-fungible token (NFT) collector just dropped more than $1 million on a virtual "golden key." Adam Weitsman, CEO of Upstate Shredding – Weitsman Recycling, purchased Yuga Labs' "Golden Key Sewer Pass" for 1,000 ETH, which was valued at about $1.6 million at the time of sale on Feb. 27, 2023. Jackson won the one-of-one, digital "golden key" after receiving the highest score on "Dookey Dash," Yuga Labs' web-based NFT game. Jackson also said that royalties would be paid in full to Yuga Labs. This seven-figure sale comes amid a surge in NFT trading and sales in early 2023, according to DappRadar's latest industry report.

☆ Failed crypto scheme endorsed by soccer player Paul Pogba reportedly plunges one investor into so much debt that he now lives with his parents again
▼ + stars: | 2023-03-02 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

A flopped NFT project promoted by Juventus soccer player Paul Pogba has plunged one investor deep into debt. "The main reason we invested was Pogba," he said, referring to the NFT collection CryptoDragons that's plunged in value since its inception. I'm just working, working, working," Kurnaz said. "The main reason we invested was Pogba," Kurnaz said. Pogba isn't the only Premier League player to have promoted a NFT collection that has ended up in the dumps.

☆ A crypto chartmaster shares why bitcoin could fall up to 50% after its massive comeback — and why he's bullish on these 4 altcoins in the long term
▼ + stars: | 2023-02-17 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Chartmaker Forrest Przybysz shared his 2023 price outlook for bitcoin and ether. Here are four altcoins that Przybysz is most optimistic about with bitcoin at risk of falling. In other words, while Przybysz's charts also indicate that ether could fall 20%, the token's potential upside of 57% is double that of bitcoin. Ether is trading above technical support but could rise substantially. Forrest Przybysz, Sistine ResearchDespite their strong showings so far this year, bitcoin and ether are still about 64% below their all-time highs.

☆ Bitcoin surges 11% despite U.S. crackdown, as crypto market gains $84 billion in value
▼ + stars: | 2023-02-16 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Jakub Porzycki | Nurphoto | Getty ImagesCrypto markets rallied on Thursday, shrugging off a tougher regulatory stance from the U.S. government. The value of the entire cryptocurrency market rose more than $84.8 billion in the 24 hours before 3:39 a.m. Crypto markets were on edge earlier this week following increased regulatory scrutiny from U.S. authorities on digital currencies. On Monday, the New York State Department of Financial Services told Paxos to stop minting new Binance USD, or BUSD, stablecoins. A stablecoin is a type of cryptocurrency pegged to a real-world asset and some are backed by assets such as bonds or cash.

Bored Ape Yacht Club was not the biggest crypto phenomenon, but it was one of the top beneficiaries of celebrity hype. The Bored Apes — a computer-generated collection of 10,000 cartoons — were being presented as a status symbol, membership in an exclusive club. Yuga sued Ripps for trademark infringement, and argues that his maligning of the Yuga apes is nothing more than a profiteering tactic. Hickman, who is Black, thought the Bored Apes looked like stereotypical portrayals of Black people as stupid or lazy. He said he thought this would be obvious to most people the second they saw an image of a Bored Ape.

☆ Coinbase CEO Brian Armstrong is sounding the alarm on a potential 'staking' crackdown. Here's what it says about crypto
▼ + stars: | 2023-02-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

"We're hearing rumors that the SEC would like to get rid of crypto staking in the U.S. for retail customers," he said in his tweet . Staking is not just a yield-generating opportunity for crypto investors, it's also essential to the way proof-of-stake protocols like Ethereum operate. If there was some kind of chokehold on staking or staking services, the outcome for Ethereum could be "disastrous," according to Owen Lau, an analyst at Oppenheimer. That opportunity is widely seen as a catalyst for mainstream adoption of crypto and a revenue opportunity for exchanges like Coinbase. Armstrong's latest comments came a day before Kraken, one of Coinbase's main exchange competitors, agreed to shutter its crypto staking operations to settle charges with the SEC, according to CoinDesk.

☆ Ponzi probe finds bankrupt crypto lender Celsius wasn't doing business the way it told customers
▼ + stars: | 2023-01-31 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Celsius misled customers when it advertised its business model, a court-appointed examiner said. The crypto lender filed for bankruptcy in June as the market collapsed. Examiner Shoba Pillay said the lender was making the market for its CEL coin by buying it. Pillay said Celsius spent $558 million buying its own Celsius token on the market in a bid to prop up its flagging assets. "In effect, Celsius bought every CEL token in the market at least one time and in some instances, twice," Pillay wrote.

☆ Swiss company that counts Microsoft as a customer says it's removed CO2 from the air and put it in the ground
▼ + stars: | 2023-01-12 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +2 min

It the first time a company has successfully taken carbon dioxide out of the atmosphere, put it underground to be locked away permanently and delivered that permanent carbon removal to a paying customer. They have been scaling the technology for direct carbon removal, wherein machines vacuum greenhouse gasses out of the air. The cost of carbon dioxide removal and storage for these corporate clients is confidential and depends on what quantity of carbon dioxide the companies want to have removed and over what period of time. Climeworks' largest carbon dioxide removal facility is located in Iceland, where it partners with CarbFix, which stores the gas underground. CarbFix dissolves carbon dioxide in water then intermingles that mixture with basalt rock formations.

In addition to exchanging crypto for government-issued currency, trading one crypto for another type of crypto creates a taxable event. Accordingly, investors need to pay capital gains taxes on their profits from selling or exchanging crypto. Important: While selling, trading, or exchanging crypto triggers a taxable event, buying it does not. However, you wouldn't owe money on the capital loss — in fact, you can use the capital loss to offset some of your capital gains on other assets. How to calculate crypto taxesCalculating crypto taxes can be daunting, especially if you're active in the markets.

Failing to report crypto activity to the IRS could result in an audit. Report any crypto income on Form 1040Aside from your crypto capital gains and losses, you may have also received additional income from your crypto holdings. In these cases, you'll need to report the crypto as income rather than a capital gain or loss. What happens if I don't report crypto on my taxes? "But if you don't file anything and the IRS discovers this — and they're aware that you didn't report it — it's tax evasion," he says.

☆ NASA hasn't heard from its InSight lander in 5 days. It may have run out of power and died on Mars.
▼ + stars: | 2022-12-20 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +9 min

NASA's InSight lander on Mars isn't responding to communications from Earth, likely due to low power levels. The solar arrays on NASA's InSight lander are deployed for a test at Lockheed Martin Space Systems, Denver, on April 30, 2015. An illustration of the InSight Mars lander. An artist illustration of the InSight lander on Mars. Then they instructed the robot to scoop up dirt and slowly trickle it next to the solar panels.

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