Secondary Market for Telegram Tokens Sees 400% Return for Investors

Telegram’s eagerly awaited blockchain, Telegram Open Network (TON), is set to be launched on October 31. However, the yet-to-be issued tokens are already trading on an unauthorized secondary market. Purchase Agreement Does Not Allow For Resale Investors are already seeing returns as high as 400% on Telegram tokens, known as grams; however, secondary buyers run…

The IRS has Words for Crypto Investors… Again: Tax Warnings

The cryptocurrency industry may still be going strong, but that doesn’t mean it hasn’t had its share of problems. Nor does it mean everyone is a fan of virtual currencies. The IRS certainly isn’t, and crypto investors have learned that the hard way the past two months. Here’s what we know. IRS has Words for…

SEC Files Lawsuit Against Veritaseum (VERI) Founder

The SEC has filed an emergency lawsuit against Veritaseum (VERI) and its founder Reginald Middleton with the New York Eastern District Court. The action aims to prevent Mr. Middleton from spending $8 million USD raised by the company in an ICO. “Knowingly Misled” VERI Investors The SEC alleges that Mr. Middleton “knowingly misled” investors about…

Crypto Criminals Take in $4.3 Billion in 2019, CipherTrace Reports

Cryptocurrency criminals have taken in an estimated $4.3 billion USD in 2019, according to CipherTrace. CipherTrace, a cryptosecurity company based in Silicon Valley, has released its Q2 2019 Cryptocurrency Anti-Money Laundering (AML) Report, which is a detailed overview of major cryptocurrency thefts, scams, and fraud around the world. The firm’s Q1 report estimated that cybercriminals…

Chipmixer Used to Launder BTC from Recent Binance Hack

On May 8, major crypto exchange Binance was the victim of its second major hacking. On this occasion, the thief/thieves made off with 7,000 Bitcoin, which valued at approximately $40 million USD at the time. (That same amount of BTC is worth almost double that at current rates.) Now, several months on, it has been…

Congressman Ted Budd Brings Back the Crypto Tax Bill

North Carolina Congressman Ted Budd has introduced a tax bill in the United States House of Representatives seeking to refine cryptocurrencies’ treatment by the Internal Revenue Services. The bill will amend the Code allowing the exclusion of losses or gains on similar crypto transactions. Reviewing the Internal Revenue Code The bill has been called the…

Tezos (XTZ) Gains 200% YTD As Buyers Get Excited

Tezos (XTZ) is making solid gains this year amid continuous buying activities on multiple developments. Key Developments For as long as the crypto sphere has existed, Bitcoin has been synonymous with it, and this is only natural, considering the fact that it is the cryptocurrency with the highest market cap. Moreover, Bitcoin’s rise has been…

BlockFi Raises Over $18 Million USD in Funding Round

US cryptocurrency lending startup BlockFi has raised $18.3 million USD in a funding round led by Valar Ventures, the company announced on Tuesday. BlockFi is the first company of its kind to receive institutional funding for crypto-based loans in US dollars, in the form of a $50 million lending facility from Galaxy Digital. The new…

Grayscale Investments to Make Biggest Transfer in Crypto History

According to Forbes, Bitcoin and cryptocurrency asset manager Grayscale Investments is about to make the biggest transfer in cryptocurrency history. The asset manager is planning on moving billions of dollars worth of holdings today, and the destination is US crypto wallet and trading platform Coinbase. Should the transfer go off without a hitch, it will…

Crypto Derivative Platform FTX Introduces Alternative to Short Alts

CoinDesk reports that new crypto derivatives platform FTX has launched one of the most abstract and strangely-named futures index fund in the cryptocurrency market. The index, dubbed Shitcoin Index Perpetual Futures or SHIT-PERP, is a 58 low market cap coins index. It is flanked by other low-cap indices ALT-PERP and MID-PERP and includes projects such…