Jeremy Allaire’s Circle Lays Off 10% of Staff amid Prickly US Regulation

By CCN: Bitcoin has been booming lately, but Circle, the parent company of crypto exchange Poloniex, announced yesterday afternoon that about 30 employees are leaving as part of “organizational changes.” Circle CEO Jeremy Allaire cited an increasingly burdensome regulatory environment in the United States as part of the impetus for the move. Today we made …

Bitcoin Bull’s $800,000 Tax Bill Due as Israeli Court Rules Crypto is ‘Property’

By CCN: An Israeli court has ruled that Bitcoin is not a currency but rather an asset. This was in a case brought forth by Noam Copel, a blockchain entrepreneur, according to business publication Globes. The ruling means that Copel will pay taxes of New Israeli Shekel (NIS) 3 million ($830,115). This is after making …

John McAfee Living in a Constant State of Paranoia Launches Podcast

By CCN: Following John McAfee’s triumphant return to Twitter after a brief hiatus, the software mogul and his wife on Tuesday announced a new podcast about life on the run. What happened last week. pic.twitter.com/Z0HWHwpuxc — John McAfee (@officialmcafee) May 21, 2019 McAfee’s Life on the Run The outspoken bitcoin bull’s DGAF disposition. | Source: Giphy …

IRS Claims to Prioritize Tax Rules for Crypto Investors but Lacks Urgency

By CCN: Cryptocurrency investors may soon have more clarity on how the IRS will tax their holdings now that the agency has said it is making that a priority. The latest IRS acknowledgment of crypto taxation issues is in response to members of Congress. Last month, they fired off a list of demands to the …

Bitcoin Price Boom Signals Massive Dystopian Panic Over 2019 Recession

By CCN: The sudden swell of Bitcoin’s price to $8,000 USD this year shows global recession fears are mounting. This according to Michael Hartnett, the chief investment strategist at Bank of America Merrill Lynch. Bitcoin price has doubled in 2019 but the rally is only getting started. | Source: Shutterstock Interestingly enough, Hartnett says global …

Shell-Shocked HitBTC Users Shout ‘Fraud’ in Response to Severe KYC

By CCN: HitBTC users are being asked to provide excessive detail about the derivation of their funds, according to multiple sources. Even Bitcoin developer Luke-Jr was forced to undergo KYC in order to withdraw funds. The famous small-blocker reportedly had chosen the exchange for its perceived lack of know-your-customer compliance. High-Profile Users Get Their Issues …

Vicious Crypto Crash Could Supercharge Bitcoin Price Rally to $20,000

By CCN: Bitcoin’s mammoth rally suffered a devastating setback on Friday when a $35 million sell order triggered a vicious flash crash on Bitstamp. By the time the dominoes had stopped falling, the bitcoin price had plunged as low as $6,894, and more than $32 billion had vanished from the crypto market cap. And fervent …

Is This Group of Banks About to Snub Ripple?

By CCN: According to Reuters sources, about 12 banks are investing in a blockchain ledger complete with digital cash. While it’s unclear which banks are currently participating in the $50 million project, a spokesman for Barclays told the news organization that “the Research & Development phase is coming to an end.” R&D Phase Ending The …

Wall Street Bitcoin Traders DGAF About Tether’s Massive Scandal

By CCN: Wall Street bitcoin traders clearly DGAF about the Tether/Bitfinex scandal. As crypto investment firm HASH CIB noted on Twitter, institutional traders were more bullish than ever last week, with no short positions taken on bitcoin in CME’s BTC futures market. Wall Street Drops its Bitcoin Shorts 10/Last week Institutional Investors went all in on …