Hey Guys,
Last week was a busy week over at the Coin Bureau HQ, and that’s because it’s been a busy week in the crypto market!
I picked up more headlines than usual as part of my research, and that can only mean one thing: the crypto market could be about to reverse.
One headline that didn’t manage to make the cut was that institutional crypto investments have seen the second consecutive week of inflows after weeks of outflows. I reckon the crypto market pump at the end of the week made that clear enough, but there’s more to the story.
For example, India’s ministry of finance released a few regulations about cryptocurrency which many believed would be flat out banned in the country. A recent Deloitte survey suggests we could see up to 1 billion people invest in crypto because of this clarity.
Meanwhile in the United States, a landmark lawsuit has been launched against the IRS which could see staking rewards exempt from taxes (so long as they’re not sold of course). If this comes to pass, it could open the door to tax exemptions for crypto miners as well.
Last but not least we have the slow death of big tech which was put on full display by Meta’s 250 billion dollar stock crash. All the while, metaverse cryptos were rallying as a survey found that people want to live in a decentralised virtual world, not one controlled by corporations.
This is just a few of the things I talk about in today’s weekly crypto review. You best get excited, because this is a good one!
~~~~~
⛓️ 🔗 Useful Links 🔗 ⛓️
► Google Considers Blockchain: https://cointelegraph.com/news/alphab…
► 1B ETH Burn: https://cointelegraph.com/news/1b-wor…
► Cardano Block Size Increase: https://www.coindesk.com/tech/2022/02…
► Wormhole Hack: https://cointelegraph.com/news/wormho…
► Phantom Wallet Raise: https://cointelegraph.com/news/solana…
► Staking Rewards Taxation: https://decrypt.co/91984/what-irs-cou…
► Litecoin Mimblewimble: https://cointelegraph.com/news/liteco…
► India Crypto Regulations: https://cointelegraph.com/news/india-…
~~~~~
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
