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Why is the crypto market down today?

The crypto market is down today as Bitcoin and stocks correct and investors await Powell’s comments on the size of the next interest rate hike and the health of the US economy. The crypto market is down today, as market volatility increases ahead of the Feb. 1 post-Federal Open Market Committee (FOMC) presser where Fed Chairman Jerome Powell will talk…

Monkey Drainer-linked scammers possibly exposed after an on-chain quarrel

The scammers referred to their pseudonym during a blockchain message argument that may have revealed their actual identity, according to CertiK. Blockchain security firm CertiK believes to it has found the real-life identity of at least one scammers allegedly linked to the “Monkey Drainer” phishing scam. Monkey Drainer is the pseudonym for a phishing scammer who uses smart contracts to steal NFTs…

Best January since 2013? 5 things to know in Bitcoin this week

Multi-month BTC price highs keep trickling in, but Fed volatility looms as the FOMC coincides with the Bitcoin monthly candle close. Bitcoin  BTC  $23,285  starts a key week with a familiar cocktail of price spikes mixed with fear that the bear market will return. After sealing its highest weekly close in almost six months, BTC/USD remains over 40% up year-to-date, with…

Key takeaways from Circle’s $44.5B USDC reserve report

Circle has released its reserve report for December 2022 highlighting over-collateralized asset holdings currently backing 44.5 billion USDC tokens in circulation. USD Coin (USDC) issuer Circle has released an accountant-verified report of its treasury reserve holdings backing more than $44.5 billion worth of tokens currently in circulation. Circle’s December 2022 reserve report, which was reviewed by GrantThornton accountancy group, breaks…

Bitcoin ‘so bullish’ at $23K as analyst reveals new BTC price metrics

Market analyst Cole Garner suggests that Bitcoin bulls are in for a treat amid an ongoing BTC price renaissance. Bitcoin  BTC  $23,030  remains firmly “bullish” at $23,000, according to new on-chain metrics from one of the industry’s best-known names. In a preview on Jan. 28, market cyclist and on-chain analyst Cole Garner revealed what he said were “backtested and validated” Bitcoin trading tools….

U.S gov’t $1.5T debt interest will be equal 3X Bitcoin market cap in 2023

The U.S. will pay over $1 trillion in debt interest next year, the equivalent of three or more Bitcoin market caps at current prices. Commentators believe that Bitcoin  BTC  $23,010  bulls do not need to wait long for the United States to start printing money again. The latest analysis of U.S. macroeconomic data has led one market strategist to predict quantitative…

IRS reminds taxpayers of crypto income reporting ahead of 2022 filing

The IRS recommendation to check “Yes” boils down to receiving, earning, transferring or selling cryptocurrencies for any monetary benefit, including mining and staking. With the deadline approaching for filing the 2022 federal income tax return, the Internal Revenue Service (IRS) — an enforcement agency of United States federal tax laws — released a list of reporting requirements for the general…

SBF to forfeit $700M worth of assets if found guilty of fraud

While most of SBF assets have been seized, Federal prosecutor Damian Williams outlined that the government is also looking to take control of three of his affiliated Binance accounts. According to new court filings, disgraced FTX founder Sam Bankman-Fried (SBF) will be subject to the forfeiture of roughly $700 million worth of assets if he were to be found guilty…

One of the largest US colleges has begun teaching students about Bitcoin

The professor said a “Programming Bitcoin” course will follow the first Bitcoin course, where students will learn how to “build a Bitcoin library from scratch.” Classroom adoption of Bitcoin and cryptocurrency courses continue to skyrocket, with Texas A&M now being the latest U.S. College to offer a Bitcoin course to some of its 74,000+ students. The news was announced on…

Polygon primed for hard fork aimed at reducing gas fee spikes: New details revealed

Polygon told Cointelegraph that the hard fork will take effect at block 38,189,056, which will be initiated without the influence of centralized actors. Ethereum layer-2 scaling solution Polygon will undergo a hard fork on Jan. 17 in order to address gas spikes and chain reorganizations issues that has affected user experience on the Polygon proof-of-stake (POS) chain.  Polygon officially confirmed the hard…