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Bitcoin News Roundup for Aug. 31, 2020
31.8.2020
With bitcoin still lagging behind U.S stocks and additional tax guidance in the U.S., CoinDesk's Markets Daily is back for your latest crypto news roundup!
Is Ethereum Left and Bitcoin Right?
31.8.2020
Hacktivist Bitcoin developer Amir Taaki took aim at Ethereum co-founder Vitalik Buterin on Twitter recently for essentially writing off smart contracts inventor Nick Szabo as a right-wing crank. Taaki wrote that this sort of attitude was typical of an “Eth[ereum] culture which is about sparkling...
Crypto Earnings from Microtasks Still Taxable in the US - IRS
31.8.2020
Cryptocurrency is “a substitute for real currency,” and any “convertible virtual currency received is taxable as ordinary income,” a recently published memo from the US Internal Revenue Service (IRS) has declared.
The new clarification by the IRS was made in response to a request for clarification...
Venezuela’s Bitcoin Use Soars Amid Hyperinflation: 3rd on Global Crypto Adoption Index
31.8.2020
Venezuelans have become increasingly interested in cryptocurrency as their country faces dire economic crisis and hyperinflation, a new study by blockchain data analytics firm Chainalysis shows. The firm’s Global Crypto Adoption Index ranks Venezuela third as “The country has reached...
Bitcoin will hit new high ‘in near term’ as Buffett exits USD — Keiser
31.8.2020
The Sage of Omaha is getting out of the world’s reserve currency, Max Keiser claims, and that’s a prelude to Bitcoin hitting a new record
South Africa Might Impose Tighter Crypto Taxes Rules - Auditor
31.8.2020
The South African Revenue Service (SARS) could bring in stricter taxes for the country’s cryptoasset holders in the near future, potentially hampering the development of an industry that has emerged as Africa’s biggest, analysts claim.
Wiehann Olivier, a partner in the auditing division...
Chainlink lands on Bitcoin sidechain RSK with new integration
31.8.2020
Developers on RSK no longer need to create their own oracle to build their DApps
First Mover: Huobi Takes on OKEx in Futures, Opening New Front in ‘Chinese’ Rivalry
31.8.2020
Huobi is taking on OKEx in the business of bitcoin futures trading, opening a new front in the ongoing rivalry between the two Chinese-led exchanges
Binance lists WBTC amid the ongoing DeFi craze
31.8.2020
Demand for Wrapped Bitcoin is increasing along with the DeFi rally
US Stocks Closing on Bigger August Gain Than Bitcoin
31.8.2020
While bitcoin is eyeing an August gain for the first time in three years, the cryptocurrency is still lagging U.S. stocks over the month
Yearn.finance Continues Rally As Traders Pay Almost 3 Bitcoin Per YFI
31.8.2020
After a month of extraordinary returns of more than 740%, DeFi darling yearn.finance (YFI) keeps climbing today, while traders remain divided on whether the top has been reached for the price or if it still has room to grow.
As of press time on Monday (10:28 UTC), YFI was up by 3.5% over the past...
Someone Just Lost $16M in Bitcoin By Using a Malicious Install of the Electrum Wallet
31.8.2020
An Electrum wallet user claims to have lost a fortune in bitcoin after installing an older version of the software from a malicious source
DeFi explosion: Uniswap surpasses Coinbase Pro in daily volume
31.8.2020
The volume of Uniswap has surpassed the daily volume of Coinbase Pro after the demand for DeFi has exploded
Bitcoin and Altcoins Overcome Hurdles
31.8.2020
After a couple of failures, bitcoin managed to surpass the USD 11,500 and USD 11,550 resistance levels. BTC even climbed above USD 11,700 and it is currently (08:30 UTC) consolidating above USD 11,600. The next major resistance for the bulls could be near USD 12,000.
Similarly, most major altcoins...
USD has ‘more room to fall’ — 5 things to watch in Bitcoin this week
31.8.2020
Amid multiple warnings over the world’s reserve currency, Bitcoin stands to gain if recent macro correlation remains intact
Chainlink Doomsday Predictions: Zeus Capital Warns Investors Not To ‘Get Fooled’
31.8.2020
Zeus Capital has doubled down on its doomsday predictions on Chainlink (Link). It is now warning investors: “don’t get fooled… exit your positions before its too late.” The asset management firm’s involved assessment follows a sharp decline in the price of Link in...
Binance advertising BTC at London bus stops in advance of UK launch
31.8.2020
‘Money is evolving,’ Binance’s new ads across London state, showing four generations of coins ending with Bitcoin
Japanese crypto traders ditching XRP and MONA for Bitcoin
31.8.2020
Most Japanese crypto traders may be leaving altcoins behind entirely
Total Value Locked in Defi Jumped 85% in August, $8 Billion in Assets Held
31.8.2020
A lot has changed during the last month, as the popular decentralized finance (defi) ecosystem has swelled considerably in value. Since the first week of August, the total value locked in defi jumped over 85% in 27 days from $4.2 billion to $7.88 billion on August 30. The total value locked (TVL)...
Nigerian Crypto Startup Yellow Card Raises $1.5 Million For Expansion in Africa
31.8.2020
Yellow Card has raised $1.5 million in a seed round. The Nigerian crypto startup said it will use the money to expand its operations in Africa while making it easier for people on the continent to buy and sell digital assets. Investors in the new round include Polychain, venture capital firm...