Из жизни альткоинов

Cryptocurrency company Tether is currently under federal investigation for possible sanctions and anti-money laundering (AML) violations, according to the Wall Street Journal. 

The criminal inquiry, led by prosecutors from the Manhattan US Attorney’s Office, is examining whether Tether’s stablecoin USDT has been utilized by third parties to fund illicit activities, including drug trafficking, terrorism, and hacking, or to launder proceeds from such activities.

Alleged Connections To Terrorism And Arms Dealing

Per the report, the US Treasury Department is also considering imposing sanctions on Tether due to its cryptocurrency’s widespread use among individuals and groups that are already sanctioned by the US government. 

These include alleged links to terrorist organizations such as Hamas and Russian arms dealers, which have led to increased scrutiny of the stablecoin issuer by authorities around the world.

The report notes that if sanctions were imposed, Tether would be barred from doing business with US companies, which would have a significant impact on its operations.

Tether Responds To Investigation Claims

The Justice Department’s investigation into Tether is not new; it began several years ago, initially focusing on allegations that some of Tether’s backers may have committed bank fraud by reportedly using falsified documentation to gain access to the global banking system.

In response to the investigation, Tether has stated that it has no indication of facing a broader inquiry, labeling the allegations of aiding criminal actors or circumventing sanctions as “outrageous.” 

In previous statements, the company has repeatedly stated that it actively cooperates with US and international law enforcement agencies to combat illegal activities, a commitment that it believes is demonstrated by its operations.

For example, the company has partnered with analytics firms such as Chainalysis and TRM Labs to enhance transaction monitoring, and has successfully frozen wallets identified as belonging to criminals in various criminal organizations in cooperation with governments around the world.

Commenting on the report, the company’s CEO Paolo Ardoino took to social media site X (formerly Twitter) and said:

As we told to WSJ there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop.

Featured image from DALL-E, chart from TradingView.com

On-chain data shows that the Bitcoin Mining Difficulty has set a new all-time high (ATH) after the jump in the latest network adjustment.

Bitcoin Mining Difficulty Has Seen An Increase Of Nearly 4% Recently

According to data from CoinWarz, the BTC Difficulty has seen a positive adjustment recently. The “Difficulty” here refers to a metric that tracks how hard it is to mine blocks on the Bitcoin blockchain. Its value is measured in units of hashes.

This concept is baked into the BTC code, with automatic adjustments occurring roughly every two weeks. In these adjustments, the network can both increase and decrease the Difficulty.

How an adjustment might go depends on what the miners have been doing since the last adjustment. A core feature of the Bitcoin network is that the block time maintains a constant value of 10 mins per block.

Whenever the miners increase their total computing power, called the Hashrate, they naturally become faster at their task and produce blocks at a higher pace.

However, as the BTC blockchain intends to keep its block time limited to 10 mins per block, it increases the difficulty just enough in the next regular adjustment to bring the miners back down to the desired speed.

Similarly, when the Hashrate declines, the network decreases the Difficulty of easing things for the miners, allowing them to go back to producing at the standard rate.

Now, here is a chart that shows how the Bitcoin Difficulty has changed over the past three months:

The above graph shows that the Bitcoin Difficulty has seen a notable increase in the latest network adjustment. With this jump of about 4%, the metric has achieved a new ATH of over 95.6 trillion hashes.

The positive change is in response to the Hashrate reaching a new ATH on its 7-day average, as the chart below from Blockchain.com shows.

Now, why does the Bitcoin Difficulty exist at all? The reason behind that is that when block time is capped, one other metric is also constrained: the production rate of BTC.

When miners hash blocks on the network, they receive block subsidies as compensation. This reward is given out in freshly minted BTC, meaning that whenever these chain validators mine blocks, they produce new tokens.

In a world without the Difficulty feature, miners would be able to endlessly increase their computing power to receive rewards at a faster rate. Eventually, the cryptocurrency’s value would succumb to inflation.

Satoshi foresaw this scenario, so the Bitcoin creator came up with the innovative idea of the Difficulty to ensure that the asset’s supply growth remains predictable.

BTC Price

At the time of writing, Bitcoin is trading at around $67,500, down 1% over the past week.

Ripple Labs is poised to respond to the US Securities and Exchange Commission (SEC) with the filing of its Form C, outlining its appeal against the regulatory body’s efforts to overturn a pivotal ruling by Judge Analisa Torres in 2023. This filing comes as Ripple seeks to clarify its position following the SEC’s recent appeals regarding various aspects of the case.

Ripple Executives Project Optimism

The SEC’s appeal follows a district court ruling that Ripple’s institutional sales of XRP did not qualify as securities, a key point of contention in the ongoing litigation.

As FOX journalist Eleanor Terret pointed out, the SEC has attempted to challenge almost every aspect of its losses at the district court level. Still, Ripple intends to focus its appeal on this ruling, arguing that the SEC’s allegations misrepresent the nature of its sales.

In an interview in Miami last week by Terret, Ripple CEO Brad Garlinghouse and General Counsel Stuart Alderoty expressed their strong confidence in a favorable outcome in the Second Circuit Court of Appeals. 

Alderoty further noted the statistical likelihood of reversal in such cases, indicating that when a party loses at the district level, the chances of a successful appeal are typically around 10% or lower.

Alderoty’s optimism is bolstered by his belief that the Second Circuit may uphold Judge Torres’s ruling and extend it further. “I think it will not only affirm Judge Torres; I think they will fortify her ruling,” he stated. Garlinghouse echoed this confidence, saying: 

I am so confident that we’re going to win the appeal, and that would really put a dagger in Gary Gensler’s whole agenda around crypto regulation.

Garlinghouse Weighs In Un US Election Impact

In a recent conversation with CNBC, Ripple CEO Brad Garlinghouse also weighed in on the current state of the market concerning regulations and the potential shifts the upcoming US election could bring to digital assets. 

Ripple’s CEO expressed strong optimism about the post-election landscape, stating that this election is crucial for the future of cryptocurrency. Garlinghouse believes that regardless of the outcome, the next Congress will likely be more pro-crypto and pro-innovation than ever.

Trump came out early and “very aggressively” in a pro-crypto manner, declaring himself the “crypto president,” Garlinghouse noted. He acknowledged that Team Harris has taken a more nuanced approach, but he pointed out that this week they made some of their most constructive comments regarding cryptocurrency.

Garlinghouse highlighted Harris’s background in Silicon Valley, emphasizing her general support for technology over the years. While she has been relatively quiet on crypto-related issues, he anticipates a reset in the regulatory environment, regardless of the election’s outcome.

“No matter what happens, we’re going to leave behind a failed approach from the Biden administration,” he stated, citing the SEC’s actions as part of a broader hostility toward crypto. Garlinghouse concluded:

Regardless of what happens in this next election, we will have a reset. We can debate the magnitude of that reset, and there’s lots of disagreement about that, but we’re going to see forward progress, and I certainly am looking forward to that.

At the time of writing, XRP trades at $0.53. 

Featured image from DALL-E, chart from TradingView.com 

Denmark is considering taxing unrealized gains on crypto assets to minimize the difference in tax treatment between digital assets and traditional asset holders.

Denmark Eyes Taxing Unrealized Crypto Profits

The Danish Tax Law Council has released an exhaustive 93-page report outlining several recommendations regarding digital asset tax treatment.

The report’s overarching theme is to ensure that digital asset holders are treated similarly to holders of traditional assets such as stocks, real estate, and precious metals.

Among other recommendations, the report advocates for legislation taxing unrealized profits or losses on digital assets held by Danish citizens. Specifically, the proposed legislation would impose a 42% capital gains tax on unrealized profits.

If passed, the law could be enacted as early as January 2026. It would require Danish investors to pay taxes on their Bitcoin (BTC) and other holdings from the date of acquisition, regardless of whether they have sold their assets.

The Danish Tax Law Council explains that the proposed legislation is part of a broader effort to eliminate the “unfair treatment of cryptocurrency investors.” Commenting on the proposal, Denmark’s tax minister, Rasmus Stoklund, said:

Throughout recent years, there have been examples of Danes who have invested in crypto-assets being heavily taxed. The council’s recommendations can be a way to ensure more reasonable taxation of crypto investors’ gains and losses.

Notably, the proposed tax regime envisions a three-tiered tax system for digital assets – namely, Capital Gains Tax, Inventory tax, and Loss Write-Offs.

As mentioned earlier, the Capital Gains Tax aims to bring digital assets in line with the tax treatment of traditional assets by levying a 42% tax rate on unrealized digital asset profits.

Inventory Tax intends to make crypto investors pay taxes on their entire portfolio by a set of data every year, regardless of whether they sold any assets.

Finally, Loss Write-Offs will relieve taxpayers by allowing them to write off losses on profits to reduce their overall tax liability.

These newly proposed tax laws align with Denmark’s stance on digital assets. In 2022, the Danish Supreme Court issued a landmark ruling stating that individuals profiting from digital asset sales, whether acquired through donations or purchases, would be subject to strict tax policies.

Digital Assets Tax Treatment Around The World

Denmark’s decision to streamline crypto taxation mirrors procedures taken by other countries. For instance, Italy recently announced it was considering raising capital gains tax on crypto from 16% to 42%.

Similarly, in August 2024, the New Zealand government introduced a bill that outlined new checks and measures to ensure high tax compliance among crypto asset holders. 

In Japan, opposition party leader Yuichiro Tamaki has promised crypto tax cuts if elected to power. BTC trades at $67,486 at press time, up 2.1% in the past 24 hours.

In a recent interview on the Think Crypto Podcast, US Representative French Hill expressed his vision for a new leadership at the US Securities and Exchange Commission (SEC) in 2025, emphasizing the importance of innovation in the digital asset space. 

Hill, a long-time advocate for cryptocurrencies, also spoke candidly about the potential for significant regulatory shifts, regardless of the outcome of the upcoming presidential election between former President Donald Trump and Vice President Kamala Harris.

FIT 21 Bill’s Prospects Amid Growing Bipartisan Support

During the interview, Hill first addressed the possibility of passing the FIT 21 Bill, which aims to establish a comprehensive regulatory framework for digital assets in the US. 

While the Republican acknowledged the unpredictability of legislative processes, Hill noted a growing bipartisan support among lawmakers, which could foster a more favorable environment for cryptocurrencies. 

Hill also underscored Trump’s advocacy for digital assets, pointing to the former president’s participation in the 2024 Bitcoin National Convention in Nashville. 

According to Hill, this commitment has spurred the Harris campaign to engage more actively with pro-innovation Democrats, potentially paving the way for advancements in legislation like the FIT 21 Bill.

Should the FIT 21 Bill fail to pass by the end of this year, Hill remained optimistic about reintroducing pro-crypto legislation in early 2025. He anticipates a significant shift in the House, with over 60 new members expected following the November elections, suggesting that the groundwork laid over the past four years by crypto advocates and lawmakers will bear fruit.

Rep. Hill Identifies Promising Pro-Crypto Candidate For SEC

Hill also discussed the notion of Bitcoin as a US reserve asset, a proposal that Trump and Senator Cynthia Lummis championed to address the national debt, which currently stands at $35 trillion. 

While the Representative acknowledged that the viability of this idea remains uncertain, Hill backed Trump’s recommendation that the US Treasury hold on to its Bitcoin holdings, many of which stem from the seizure of the Silk Road marketplace.

When addressing Trump’s remarks about potentially firing SEC Chair Gary Gensler upon returning to the White House, Hill clarified that the SEC operates as an independent agency and that Gensler’s term extends until 2026. However, Hill noted that it is common for incoming presidents to invite executive officials to resign. 

Hill further criticized Gary Gensler’s performance and leadership over the past years, particularly regarding his approach to cryptocurrencies. He suggested that a future administration appoint a leader more aligned with pro-innovation policies in 2025. 

Interestingly, the Republican leader also highlighted Commissioner Hester Peirce, affectionately known in the industry as “Crypto Mom”, as a strong candidate for SEC Chair; Hill noted that she would do a “terrific” job as SEC Chair. 

Featured image from DALL-E, chart from TradingView.com 

Власти швейцарского города Лугано при содействии компания Tether открыли статую основателю экосистемы Биткоина Сатоси Накамото (Satoshi Nakamoto) во время третьего ежегодного форума Plan В.

Стадия накопления биткоинов затянулась и не дает крупнейшей криптовалюте обновить свой ценовой исторический максимум. Альткоины во многом копируют движение BTC. Видимых причин для паники нет, но что будет с крипторынком дальше?

Компания Chiliz объявила, что ее спортивная блокчейн-платформа Socios.com получила предварительное одобрение Управления по финансовым услугам Мальты (MFSA) на оказание услуг с цифровыми активами.

US-based cryptocurrency exchange Kraken, the sixth largest trading volume, is gearing up to launch its blockchain, Ink, in early 2025. This new platform aims to facilitate decentralized applications (dApps), enabling users to trade, borrow, and lend tokens without intermediaries.

Kraken’s Ink Blockchain Goals

According to a recent report by Bloomberg, Ink will utilize technology similar to that of Coinbase’s Base, which has rapidly emerged as one of the largest DeFi platforms since its launch over a year ago. 

Andrew Koller, the founder of Ink, stated that a testnet will be introduced later this year, allowing developers to experiment with applications before the blockchain opens to retail and institutional users in the first quarter of 2025.

Built on Optimism’s Superchain, Ink is designed to improve user engagement with “top-tier” decentralized finance (DeFi) applications, protocols, and communities, the company said in a blog post on Thursday. 

The new blockchain will align with the broader Ethereum ecosystem by leveraging Ethereum’s security and joining the Superchain – a unified network of blockchains that share security and governance standards. 

Koller emphasized that Ink is unique as the only blockchain backed by a major Western exchange focused on creating an “optimal DeFi experience.” The platform’s vision is to foster a “capital-efficient” ecosystem that prioritizes community involvement and innovation while ensuring that the benefits of DeFi are accessible to all.

Launching a proprietary blockchain aligns with a broader trend among crypto exchanges that have seen significant growth and revenue generation from their blockchain initiatives. 

Notable examples include Binance’s BNB Chain and Coinbase’s Base, both of which have successfully driven user engagement and transaction volume.

Ink To Support RWAs And Advanced Lending Applications

At its launch, Ink is expected to host over a dozen applications, including decentralized exchanges and aggregators. Koller anticipates that the blockchain could eventually support the real-world assets (RWAs) sector and advanced lending applications.

Initially, Kraken plans to serve as the chain’s sequencer, managing and organizing transactions to generate revenue. However, Koller indicated that this role would eventually be decentralized, allowing multiple parties to share the responsibility. 

As Kraken continues to develop Ink, approximately 40 team members are dedicated to the project. The company is also planning events for developers, including participation in Devcon in Thailand this November.

Founded in 2011 in San Francisco, Kraken has been expanding its product offerings while considering a potential initial public offering (IPO). However, like many companies in the crypto space, Kraken’s future may be influenced by upcoming changes in US cryptocurrency regulations, especially in light of the forthcoming elections.

The exchange faced regulatory scrutiny last year when the US Securities and Exchange Commission (SEC) charged it with operating as an unregistered broker. In February 2023, Kraken settled separate charges related to its staking services. 

Featured image from DALL-E, chart from TradingView.com

Разработчики протокола BitcoinOS (BOS) заявили о запуске «биткоин-моста» Grail для блокчейна Cardano. С помощью этого сервиса можно будет перемещать первую криптовалюту и актив Cardano (ADA) между этими двумя экосистемами, сказали разработчики.

Surging inflation in recent times, rising interest rates, stock market volatility, and uncertainty of macroeconomic events have led to speculation of an impending recession in the coming years. However, this alarm has been sounding for a while now.

A notable sign since 2022 has been a drastic decline in the gross domestic product (GDP), leading many economists to suggest that 2025, leading up to 2026, could develop into a full-fledged recession. 

Despite strong growth, the U.S. economy is gradually slowing down. The July 2024 jobs report suggested the unemployment rate would rise for four consecutive months, sparking more fears of an impending recession. 

In light of these developments, J.P. Morgan Research suggests the probability of the U.S. and the global economy entering into recession in 2025 with a probability score of 45%. 

Important elements to foster economic growth have been challenged in the U.S. and the global financial market. News hints at a sharper-than-expected decline in labor demands and a loss of momentum in global manufacturing and the Euro area. 

Source – OECD

The data from the OECD suggest that GDP has stagnated compared to past years across different countries and could continue to decrease in coming years as inflation rises, leading to speculative talks of an impending recession.

While the talk of recession is a cause for worry, they don’t last forever and allow many investors to invest in reliable assets as a hedge for inflation and recession, with much emphasis placed on digital assets such as cryptocurrencies. 

This article focuses on how inflation and recession have affected the economy, how users leverage bonds and digital assets such as cryptocurrency to battle recession and inflation, and how users can remain profitable by using cryptocurrency and Margex copy trading strategy. 

Inflation – Recession of 2008/2009

The 2007-2008 financial crisis was the most severe global financial crisis since the Great Depression. Subprime mortgages targeting low-income homebuyers, excessive risk-taking by financial institutions, toxic assets within banks, and the bursting of the United States housing bubble were the catalysts of the Great Recession. 

Global financial institutions suffered severe damages, reaching a climax with many filing for bankruptcy, such as the Lehman Brothers on September 15, 2008, and other banking organizations affected. 

Despite the United States government implementing some policies to help alleviate this crisis, this period led to the Great Recession, considering how the economic situation affected many poor and the average class became poor. 

The fear of financial crisis in the past has heightened much attention for investors and users to turn to bonds and digital assets as a hedge against current inflation and a speculative recession. 

Mass Adoption for Cryptocurrency Digital Assets 

Source – Glassnode Stablecoin Growth

Historically, cryptocurrency assets have shown much resilience during economic instability, with Bitcoin viewed as digital gold and a hedge against inflation and recession. The speculation of a pending recession presents a huge opportunity for many persons looking to leverage digital currency.

During the COVID-19 era, which was plagued with recession, many investors fled to safer assets, with many trying out digital assets, which brought many benefits, such as exponential gains in the bull market of 2020, as many got exposed to cryptocurrencies. 

The chart from Glassnode shows the exposure of many institutions and companies leveraging stablecoins for transactions, with institutions and countries pushing to create their own stablecoins in recent times.

The mass adoption of digital assets can not be swept under the carpet, as it has proven to be a tool with many opportunities for people looking to leverage it and grow a robust portfolio. 

With financial policies in place to help many cryptocurrency projects, institutions are leveraging the potential the cryptocurrency market possesses and offering users opportunities to trade Bitcoin spot exchange-traded funds (BTC spot ETF).

Leveraging a cryptocurrency project opens the door to endless opportunities that many users and investors are exposed to. Users explore these opportunities through reliable and trusted cryptocurrency exchanges such as Margex exchange, which continues to provide the best trading experience to all kinds of users. 

Exploring the Potential of Cryptocurrencies Through Margex Copy Trading 

Margex copy trading platform remains the top-leading cryptocurrency exchange designed for users of all kinds, be they experts or novice traders. Users with little to no trading or cryptocurrency experience can become informed and grow their portfolio while learning much about cryptocurrency.

With its unique trading interface, Margex exchange has been designed to meet the usability of all users and give users the best experience while using Margex to carry out transactions. 

As a copy trading platform, Margex allows users to mirror the trades of experienced traders, adopt strategies, and earn returns while also focusing on improving their own strategies, expanding their cryptocurrency knowledge, and diversifying their portfolios. 

Margex users also have the chance to utilize different features present on the Margex platform to boost their trading journey. Some of these features include a zero-fee converter to enable seamless swapping of crypto pairs and different instant deposits and withdrawals, including Kaspa and Margex TON; these are features present on Margex platform to help users trade better.

Cryptocurrency and copy trading has taken the financial world by storm, and many new users are leveraging these new opportunities in the financial world to make returns on their investments. The Margex platform remains reliable and easy to use for all kinds of users or traders.

How to initiate your first copy trading journey on Margex platform with as low as $10;

1. Open a copy trading account with Margex

2. Deposit with as low as $10 using different deposit options such as Kaspa or Toncoin for fast deposit

3. Head over to the copy trading dashboard to follow your preferred trader 

4. Decide on the amount you wish to initiate your copy trading experience

5. Confirm all processes above and click confirm to begin your journey to profitability.

Апелляционный суд четвертого округа США постановил, что страховка на жилье не обязана покрывать убытки от потери криптовалют — страховые полисы должны применяться только к физическому имуществу.

Tether Holdings Ltd., the issuer behind the world’s largest stablecoin USDT, has proposed an ambitious plan to Turkey’s government. The plan aims to “modernize” the country’s boron market using blockchain technology.

The proposal involves creating digital tokens backed by borate minerals, a key resource where Turkey controls over 70% of the global supply.

Further Details On The Proposal

As Bloomberg reported earlier today, citing individuals familiar with the matter, Tether pitched the idea to Turkish officials to tokenize boron, used in various industries such as ceramics, fertilizers, and glass production.

In addition to the tokenization proposal, the company has also raised the possibility of establishing a digital asset exchange in Istanbul, Turkey’s financial hub.

Tokenization is a growing trend within the digital asset space, where real-world commodities or assets are represented by digital tokens on a blockchain.

Bloomberg revealed that proponents argue that tokenization can improve market efficiency, liquidity, and transparency.

With Turkey projected to generate $1.3 billion in boron sales by 2024, the government may view Tether’s proposal as an opportunity to tap into innovative technologies and boost economic growth.

Turkey’s Growing Crypto Market And Tether’s Interest in Boron

Although the specific benefits of Tether’s proposal remain unclear, the company’s interest in Turkey is not entirely unexpected.

So far, Turkey has emerged as an attractive market for digital assets, particularly due to “high inflation and the declining value of the Turkish lira,” which has led to increased crypto adoption. Boron, a naturally abundant resource in Turkey, presents an intriguing choice for Tether’s tokenization efforts.

Turkey’s state-owned mining company Eti Maden Isletmeleri Genel Mudurlugu manages the country’s boron reserves, and the government’s control over this valuable resource could make it an ideal candidate for blockchain-based solutions.

While the Turkish government has not yet committed to the proposal, discussions are ongoing, with key meetings between Tether officials and senior Turkish figures, including Vice President Cevdet Yilmaz and Energy Minister Alparslan Bayraktar.

A Turkish government official has noted that the idea is still in its early stages and may not be implemented immediately. Additionally, a Turkey’s Energy Ministry representative confirmed that the discussions with Tether are ongoing, though no concrete plans have been confirmed yet.

Meanwhile, in a statement, Tether’s CEO Paolo Ardoino reaffirmed the company’s commitment to supporting innovation in Turkey’s digital-asset ecosystem. Ardoino noted:

[Tether is] deeply committed to fostering innovation in Turkey’s digital-asset landscape and keen to continue exploring new opportunities for growth.

Featured image created with DALL-E, Chart from TradingView

Руководитель отдела исследований Sygnum Bank Каталин Тишхаузер (Katalin Tischhauser) назвала преждевременными опасения, что решения второго уровня (L2) для масштабирования сети Эфириума могут лишить сеть дохода.

Эксперты инвестиционной компании Hashkey Capital назвали главное условие начала нового бума альткоинов на рынке. По мнению аналитиков, для этого биткоин должен достигнуть отметки $80 000.

Аналитики компании Glassnode представили отчет, в котором говорится, что котировки биткоина преодолели несколько технических сопротивлений, а инвесторы в первую криптовалюту перешли из «режима энтузиазма» в «стадию эйфории».

Директор отдела исследований криптовалют в Standard Chartered Джефф Кендрик заявил, что сразу после президентских выборов в США курс биткоина может превысить свой исторический максимум в $73 000.

Палата представителей штата Пенсильвания приняла двухпартийный законопроект HB-2481, позволяющий местным жителям самостоятельно хранить криптовалюты, использовать их для совершения платежей и управлять узлами в сетях.

Корпорация Microsoft включила в повестку общего собрания акционеров, намеченного на 10 декабря, вопрос об инвестировании в первую криптовалюту.

Министр экономики и финансов Южной Кореи Чхве Сан Мок (Choi Sang-mok) заявил, что власти намерены усилить надзор за международными криптотранзакциями для пресечения преступлений, связанных с цифровыми активами.