Brenda Collins

Latest report from Coinbase has it that the exchange has managed to botch a major merger involving AI tokens, leaving thousands of investors confused. The development has also raised serious concerns about the exchange's handling of complex transactions.

The United States Internal Revenue Service (IRS) and the Treasury Department have announced a new tax reporting requirement for brokers dealing with digital assets. This regulation , which is anticipated to take effect in the next tax year, is a crucial move in the government's endeavors to control the cryptocurrency market and guarantee tax compliance.

Ripple 's legal counsel, in its latest development, has asserted that the SEC is winning in its ongoing court case. The cryptocurrency community has been interested in this development and speculating on what it might mean for Ripple's XRP asset.

Former President Donald Trump has promised that he will stop what he calls an “un-American” crackdown on digital assets if re-elected. The Republican Party has bought into this promise, indicating a substantial change in the Party's position on bitcoin regulation

David Weisberger, the CEO of CoinRoutes, a leading provider of algorithmic trading strategies for digital assets, has called the Securities and Exchange Commission's (SEC) approach to cryptocurrency “anti-investor” in a heated critique of current United States regulatory policies.

A Dutch court has rejected bail for Alexey Pertsev, a renowned engineer linked with Tornado Cash, the contentious cryptocurrency mixing service. With Tornado Cash, users can improve their anonymity and obscure their transaction history. Tornado Cash is a decentralized privacy solution for Ethereum transactions.

The price of Bitcoin has dropped by 3%, causing major market volatility. This was mostly caused by huge transfers associated with the defunct Mt. Gox exchange. Investors and market analysts are concerned about the sudden movement of Bitcoin out of the wallets of the now-defunct exchange, which has heightened volatility and uncertainty.

Mt. Gox is set to release another batch of Bitcoin into the market as it continues its creditor repayment program. The company announced this move today while explaining that they have executed their first test repayment transaction to every Bitstamp cold wallet owner.

There has been mounting pressure from Kraken users who have accused the exchange of refusing to pay out Bitcoin to creditors of Mt. Gox due to want appears as a technical glitch in the payment process. A rehabilitation strategy was established to disperse the recovered assets to the creditors after a sizable fraction of the lost Bitcoins was recovered in recent years.

The global financial market experienced intense volatility on Monday, August 6, and major cryptocurrency assets like Bitcoin and Ethereum responded with a significant drop. Bitcoin dropped to $55,000, while Ethereum dipped to $2,200. The situation also gave rise to massive liquidations worth over a billion dollars.