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☆ 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.

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.

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.

☆ 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.

☆ Why Tom Brady, David Ortiz, Jimmy Fallon and other celebrities are getting sued over crypto
▼ + stars: | 2022-12-14 | by ( Jennifer Korn | ) edition.cnn.com time to read: +4 min

Tom Brady, Madonna, Gwyneth Paltrow and baseball Hall-of-Famer David Ortiz are just some of the big names facing lawsuits from investors as the crypto world crumbles in the wake of FTX’s fall from grace. The backlash started earlier this month, when a class-action suit was filed against celebrities, including Jimmy Fallon, Justin Bieber and Serena Williams for promoting Bored Ape Yacht Club NFTs. None of the celebrities named in the lawsuits immediately responded to requests from CNN for comment. Investors in FTX are not expected to be able to recover their money, the company’s CEO testified on Capitol Hill Tuesday. And after the crypto market bust and a round of lawsuits, celebrities may think twice about what they endorse in the future, too.

☆ Crypto winter end in sight as Ethereum looks to shake the chills- analysts
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +6 min

J.P.MORGAN:"We believe that the Ethereum Merge and really the Ethereum Surge could be a big factor in terms of increasing the use-cases for blockchain into new areas, including financial services," analysts said in an early December note. The Ethereum Merge was a major software upgrade to the Ethereum blockchain that went live in September and reduced its energy usage by 99.95%, according to developers. "We continue to see the Ethereum Surge as a catalyst for development in the cryptocurrency markets, which appears at least 6-12 months away." "From the China crackdown to the several price crashes in earlier 2022, crypto mining has shown an approximately 1-to-1 price-power relationship. Norwood expects the crypto market to pick up in about six months.

In this article BTC.CM=ETH.CM= Follow your favorite stocks CREATE FREE ACCOUNTKris Marszalek, CEO of Crypto.com, speaking at a 2018 Bloomberg event in Hong Kong, China. Paul Yeung | Bloomberg | Getty ImagesKris Marszalek wants everyone to know that his company, Crypto.com, is safe and in good hands. While no evidence has emerged of wrongdoing at Crypto.com, Marszalek's business history is replete with red flags. Over the course of 2008 and 2009, Marszalek and his partner were transferred nearly $3 million in payments from Starline, according to the documents. As a result, when the bank forced Starline into liquidation, Marszalek and his partner were forced into bankruptcy as well.

☆ How to keep your crypto safe by moving it offline into your own wallet
▼ + stars: | 2022-11-15 | by ( Sofia Pitt | ) www.cnbc.com time to read: +4 min

Cold storage can protect your digital assets by taking them offline and harboring your crypto in a digital wallet. If you're interested in moving your crypto into cold storage, here's how to get started. Types of cold storage walletsThere are a number of cold storage wallets you can buy to get started. How to move your cryptocurrency to cold storageIt's important to buy your cold storage wallet directly from the manufacturer. Once you have a pin, you'll be able to add your crypto to your cold storage wallet by clicking receive, which will show you your cold storage wallet's address.

☆ FTX collapse: The latest updates on the cryptocurrency crisis
▼ + stars: | 2022-11-14 | by ( Diksha Madhok | ) edition.cnn.com time to read: +6 min

New Delhi CNN Business —Aftershocks from the massive earthquake in the trillion-dollar crypto industry last week continued to be felt on Monday. The episode has not just destroyed confidence in the crypto industry, but it will also embolden global regulators to tighten the screws. There is a “lot of risk,” said Changpeng Zhao, who runs the crypto exchange Binance. On Saturday, FTX said it was looking into whether crypto assets were stolen and has since moved all its digital assets offline. Crypto risk management firm Elliptic said although the theft was unconfirmed, $473 million in crypto assets were apparently stolen from FTX.

☆ Cryptocurrencies posted strong gains in October. Here’s why investors are optimistic on the rest of the year
▼ + stars: | 2022-11-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Things are looking up for crypto after bitcoin and ether finally climbed enough to post gains for October. Prices were unusually flat for most of the month, but several investors have interpreted that as stability and resilience. Still, investors say that while it may be too early to call a bottom, recovery is in sight. McClurg also a highlighted a recent move of $940 million in bitcoin investors removed from exchanges, calling it a typically bullish signal and an indicator that people are saving their bitcoin rather than selling it. While the central bank continues to dominate investors' attention, the case for bitcoin continues develop for other market participants.

NASA's InSight lander felt a powerful Mars quake. Then an orbiter took a picture of the meteor impact that caused it. The impact kicked up boulders of water ice, which will be crucial for future astronaut missions to Mars. "It was immediately clear that this is the biggest new crater we've ever seen," Ingrid Daubar, InSight impact science lead, said in a press briefing. An artist illustration of the InSight lander on Mars.

☆ A month after the Ethereum merge, supply is finally declining as hoped but the price of ether remains stuck
▼ + stars: | 2022-10-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

In crypto terms, that means that the supply of ether is now decreasing rather than increasing. Despite basic supply and demand dynamics on the network, the macro backdrop still has a strong hold on crypto prices. "Theoretically speaking, if we see a deflationary environment then there should be upward pressure on the price, but there are other factors that affect the ether price," said Owen Lau, an analyst at Oppenheimer. Ethereum uses those gas fees to burn tokens, so with higher fees the network had more money to burn. High gas fees can always come down however, Lau said, and that would mean the network would have less ether to burn.

☆ I got Web3 VIP access to see Jack Harlow in concert through an NFT club called Dancing Seahorse. But the experience felt very Web2 — and that's exactly what the company's CEO wants.
▼ + stars: | 2022-10-14 | by ( April Joyner | ) www.businessinsider.com time to read: +6 min

The VIP suite hosted by Dancing Seahorse offered a good but not spectacular view of the stage. Until five months ago, when he cofounded Dancing Seahorse, Nahai wasn't really into crypto or Web3, he told me. Dancing Seahorse's suite drew a crypto-curious crowd. From left: Melanie McClain; Phillip Hale-Christofi, Dancing Seahorse's head of events and experiences; and Ladidai. It was perhaps no coincidence, then, that Dancing Seahorse's suite drew a pretty crypto-curious crowd.

☆ Medical-imaging startup NVision says its quantum tech is a big step forward for catching cancerous tumors. Check out the 18-slide deck used to raise a $17 million grant.
▼ + stars: | 2022-10-12 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Ulm-based NVision uses quantum tech to enable MRI scanners to analyse tumors at tissue level. The startup has partnered with Siemens to use its medical-imaging technology for cancer treatments. It secured a $17 million grant from the German government using this 18-slide pitch deck. Currently, MRI scanners can only conduct imaging at an anatomical level. "We know that with cancer, tumors have different metabolisms, and this is how they keep themselves alive," said CEO Sella Brosh.

☆ Sell Coinbase as rising competition and macro pressures will hurt the stock, Wells Fargo says
▼ + stars: | 2022-09-29 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

A challenging economic environment will pressure shares of Coinbase going forward, making now a good time to sell, according to Wells Fargo. Coinbase just updated its fee structure to incentivize higher volume traders, and it's likely that retail fees will follow, according to the note. Wells Fargo forecasts a 56% year over year decline in retail transaction revenue to $451 million for the third quarter. There isn't a clear path that Wells Fargo sees for Coinbase to reach profitability in the coming years, given the backdrop for the company. Coinbase shares dipped 2.4% in the premarket.

☆ Bitcoin surges 7% to top $20,000, its highest level in more than a week, even as stocks hit 2022 lows
▼ + stars: | 2022-09-27 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Nurphoto | Getty ImagesCrypto investors have been watching monetary policy because digital currencies have been closely correlated to U.S. stock markets this year. Interestingly, bitcoin's rally, which began on Monday, happened despite a fall in U.S. stocks with the S&P 500 closing at its lowest level of 2022. So, there are signs that perhaps the correlation between crypto and stocks could be weakening. Bitcoin moves inversely to the dollar, so a strong greenback is negative for bitcoin. However, Ayyar said that the dollar index could be nearing its top which would mark a potential bottom for bitcoin.

The recording was provided by Tiffany Fong, who says she is one of the 500,000 Celsius customers with funds locked in the platform. In the recording, Celsius co-founder Nuke Goldstein outlines a compensation plan for customers who deposited assets in Celsius' "Earn" account, for which Celsius had promised yields as high as 17%. The tokens represent the ratio between what Celsius owes customers and what assets they have available. Celsius also intends to allow customers to redeem these tokens, according to Goldstein. He said the tokens can be redeemed on Celsius for a value likely less than what they are owed or on crypto platforms like Uniswap, allowing the market to determine the tokens' value.

☆ Ether is down almost 20% since the merge. Here’s what’s going on
▼ + stars: | 2022-09-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Twice during the week, as bitcoin dipped below the $19,000 level, ether hovered at $1,300 (about 70% below its all-time high). Many expected the merge to be a buy-the-rumor/sell-the-news event, and there are growing concerns in the crypto community about the post-merge Ethereum. Ahead of the merge, many investors were buying spot ether and shorting ether perpetual futures , in order to get tokens of the "forked" version of Ethereum for free, without the ether price exposure. Growing concerns Ahead of the merge, there were two main concerns the crypto community had begun exploring. "It looks like Ethereum Classic has been the main beneficiary post merge," JPMorgan's Nikolaos Panigirtzoglou said in a note this week.

☆ How SkyBridge founder Anthony Scaramucci is navigating the world between traditional and digital assets — plus his favorite coins and hedge funds for the tough market environment
▼ + stars: | 2022-09-21 | by ( Laila Maidan | Alyson Velati | ) www.businessinsider.com time to read: +7 min

A survey conducted by the Alternative Investment Management Association (AIMA), showed that about one-third of traditional hedge funds are investing in digital assets. Approximately one-third of the panel discussions revolved around digital assets, according to SkyBridge Capital's Anthony Scaramucci. And while some funds may still be grappling with the question of how much exposure they should allocate to digital assets, Scaramucci is pedaling forward. Long term, he believes in the appreciation of digital assets, and he's willing to pay the price of absorbing the volatility in the meantime. The pivot to digital assetsSkyBridge has pivoted heavily into crypto and blockchain technology from its traditional hedge fund of funds business.

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