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Canaan’s Q2 Loss Narrows to $2.4M From Q1 on 160% Revenue Increase
31.8.2020
Canaan shares are down 23% in August
IRS Sends Fresh Round of Tax Warning Letters to Cryptocurrency Owners
26.8.2020
The U.S. Internal Revenue Service (IRS) has begun sending new warning letters to cryptocurrency owners. This followed the tax agency prioritizing cryptocurrency on its tax forms. “The IRS is getting very serious about cryptocurrency tax compliance,” a tax expert told news.Bitcoin.com....
IRS Prioritizes Cryptocurrency, Now First Question on 1040 Tax Form
22.8.2020
The new U.S. tax form is out and the cryptocurrency question is the first one on the main 1040 tax form used by about 150 million people to file their taxes. The Internal Revenue Service (IRS) requires all tax filers to declare whether they have received, sold, exchanged, or acquired...
Nvidia Accused of Trying to Discredit Ex-Employee in Crypto Mining Revenue Trial
17.8.2020
Investors suing Nvidia have opposed a motion from the U.S. chipmaker that would shut out the testimony from an ex-employee
Mike Novogratz’s Galaxy Digital Holdings Reports $38.5 Million Income for Q2: “We’ve Crossed the Rubicon’
16.8.2020
Galaxy Digital Holdings reported on Friday, August 14 that its comprehensive income for Q2 grew to $38.5 million. The figure reflects both net realized and unrealized gains from digital assets, as well as investing activities of $28.3 million. In an earnings call, Galaxy Digital President, Chris...
Miner Hut 8 Reports Q2 Revenue Plunged 67% to $6.9 Million Due to Bitcoin Halving
15.8.2020
Canadian miner Hut 8 Mining Corp has reported that second quarter revenue tumbled 67% to $6.9 million from $21.2 million a year ago, as Bitcoin’s supply cut in May forced production to decline. The Toronto Stock Exchange-listed company extracted just 795 bitcoin (BTC) in the April to June...
Mining Firm Hut 8 Reports 28% Drop in Q2 Revenue Following Bitcoin Halving
13.8.2020
Bitcoin mining firm Hut 8 reported a sharp drop in revenue. However, the rising value of the firm's BTC holdings helped it finish the quarter in the black
Bitcoin Transaction Fees Soar 550% in a Month, BCH, Dash Transactions Much Cheaper
11.8.2020
The cost of sending a transaction over the Bitcoin network rose sharply over the past month, as the price of the top cryptocurrency climbed higher. According to latest data from Bitinfocharts, the average bitcoin (BTC) transaction fee soared by as much as 547% in the month to August 6, rising from...
New Kenyan Digital Tax to Affect Crypto Platforms
8.8.2020
Kenya Revenue Authority (KRA) has announced new regulations that compel users of digital marketplaces to pay digital tax. At a rate of 1.5% on gross transaction value, the new tax is expected to take effect on Jan. 1, 2021. According to a report, the KRA will create a special tax unit to track...
Square’s Cash App Bitcoin Revenue Surges 600% to $875 Million in Q2, Profit Up 711%
6.8.2020
Square Inc. has reported a significant bitcoin revenue increase in the second quarter. Its Cash App generated $875 million in revenue, a 600% increase from the previous year. In addition, Square’s bitcoin gross profit jumped 711%. Square Cash App’s Bitcoin Revenue Square released...
Blockchain Bites: Square’s Revenue Surge, Eth 2’s Final Testnet, c-Lightning’s Latest Update
5.8.2020
Square’s Bitcoin revenues increased 600% year-over-year and a blockchain-based voting system in Russia may have been hacked
Square Reports 600% Increase in Quarterly Bitcoin Revenue
5.8.2020
Jack Dorsey's Square has seen one of the largest quarterly increases yet for its bitcoin business
Bitcoin Trading Generated $875M in Quarterly Revenue for Square
5.8.2020
Bitcoin trading drove $875 million in quarterly revenue for the U.S-based financial services firm Square, comprising a 75% gain over Q1 2020
Travala.com Adds Agoda Hotels, Posts Record July Revenue as Crypto Payments Soar
3.8.2020
The Binance-backed travel agency brought in $400,000 in July, a 100% increase from the month before
Bitcoin Miners Saw 7% Revenue Increase in July
1.8.2020
Bitcoin miners earned $300 in revenue during July
Crypto Tax Disclosures Can Help With Internal Revenue Service
21.7.2020
Disclosure sounds like it exposes you to extra IRS audit risk, but if it’s done properly, disclosure can actually reduce your risk
Miner Hoards: Q2 Bitcoin Mining Supply Outflow Touches 12-Month Low
17.7.2020
Onchain data shows that bitcoin miners are hoarding despite the 50% loss in revenue that started on May 11, during the third reward halving. The seven-day average of bitcoin miners’ outflow volume and mining funds sent to exchanges remains significantly low. Roughly four weeks ago on June...
Bitcoin Investor Sues IRS for Unlawful Seizure of Financial Records at 3 Crypto Exchanges
16.7.2020
Bitcoin investor Jim Harper has sued the U.S. Internal Revenue Service (IRS), its commissioner, and a number of federal agents. He alleged that they unlawfully seized his private financial information from three cryptocurrency exchanges. Bitcoin Investor vs. IRS Bitcoin investor Jim Harper...
Advocacy Group Claims IRS-Issued Crypto-Warning Letters Violated Taxpayer’s Rights
14.7.2020
Close to a year ago last July, the U.S. Internal Revenue Service (IRS) revealed it would be sending ‘soft letters’ to suspected American cryptocurrency owners advising them to pay their taxes. Now according to the Taxpayer Advocate Service, a subsidiary of the IRS, the soft letters...
Record Revenue for Blockchain Gaming Company During Pandemic
9.7.2020
Animoca Brands, the firm behind noted NFT-powered games The Sandbox and F1 Delta Time, has reported record revenue amid the COVID-19 lockdown