Business

Andreessen Horowitz Leads $25M Funding Round for Crypto Lending Startup

[ad_1] Venture capital firm Andreessen Horowitz has led a $25 million funding round for crypto lending startup Compound.On Nov. 14, Fortune reported that Compound, a decentralized finance (DeFi) lending protocol, secured $25 million in an investment round led by Andreessen Horowitz’s a16z, with participation from other top investors including Paradigm, Bain Capital Ventures and Polychain Capital.To integrate with crypto exchanges, custodians, walletsCompound CEO and co-founder Robert Leshner said in an
Business

Bitcoin Price Defies ‘Death Cross’ as Bulls Pin Hopes on $9.1K Bounce

[ad_1] Bitcoin (BTC) price continues to trend lower, marking 5 consecutive lower highs as the price makes a stairstep decline in a falling wedge. Interestingly, the pattern is interpreted by many analysts as a signal of a potentially bullish outcome so perhaps there is still hope.Crypto market data daily view. Source: Coin360BTC USD daily chart. Source: TradingViewThe price has pierced the $8,674 support three times over the past 4 days,
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OneCoin Co-Founder Pleads Guilty, Faces up to 90 Years in Jail

[ad_1] Konstantin Ignatov, co-founder of alleged crypto scam OneCoin, has pleaded guilty to participation in the multi-billion dollar fraud. According to a BBC report on Nov. 14, Ignatov signed a plea on Oct. 4 and now faces up to 90 years in prison. The news was made public on Nov. 12, the BBC says.After being arrested at Los Angeles International Airport in March 2019, Ignatov pleaded guilty to several charges,
Business

Crypto Payment Option Still ‘A Cottage Industry’

[ad_1] The Dallas Mavericks pro basketball team’s cryptocurrency payment option has not yet caught on with the majority of fans, the team’s chief technical officer said in a recent interview. As sports business-focused media outlet Front Office Sports reported on Nov. 14, Mavericks CTO David Herr said that the team wants to provide its fans with a more flexible way to purchase tickets and merchandise, thus enabling them to pay with
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Like-Kind Tax Exemption Has Never Applied to Crypto Transactions

[ad_1] The like-kind exchange tax exemption is not applicable to cryptocurrency transactions, according to the United States Internal Revenue Service (IRS). An official at the IRS Office said that U.S. taxpayers have never been authorized to postpone paying tax as part of the like-kind exchange principle even before the 2017 tax overhaul, Bloomberg Tax reports Nov. 13.Suzanne Sinno, an attorney in the IRS Office of the Associate Chief Counsel, delivered her
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Coinbase, Kingdom Trust, Regal Assets Jointly Offer Crypto IRA and 401(K) Accounts

[ad_1] Major American crypto exchange Coinbase, asset custodian Kingdom Trust and alternative assets investment firm Regal Assets have begun offering cryptocurrency-based individual retirement and 401(K) accounts in the United States.An individual retirement account (IRA) is an investment account that enables an individual to save money for retirement in a tax-deferred way, while a 401(K) represents a qualified retirement savings plan offered by an employer.In a Nov. 13 press release, the
Business

Samsung SDS to Use Zero-Knowledge Proofs on Business Blockchain

[ad_1] Samsung SDS, the IT arm of tech giant Samsung, has integrated QEDIT’s zero-knowledge proof solution (ZKP) to its Nexledger blockchain. By applying ZKP, Samsung SDS intends to provide a higher level of privacy for users of its enterprise blockchain platform Nexledger, QEDIT said in a press release on Nov. 14.To apply the technology, Samsung SDS has signed a memorandum of understanding with Israeli privacy-enhancing technology provider QEDIT in Seoul.
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Iran Offers Bounty for Illicit Cryptocurrency Mining Operations

[ad_1] Iranian authorities are offering a bounty to anyone who exposes unauthorized mining operations in the country, Iranian news outlet PressTV reports on Nov. 13.A spokesman of the Energy Ministry announced the bounty program during an interview with local news outlet IRIB News, while illustrating the new electricity pricing mechanism for miners.Mostafa Rajabi, the spokesman in question, said yesterday that people who expose cryptocurrency mining operations that are illicitly using
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Power Ledger Completes Peer-to-Peer Solar Energy Trading Trial in India

[ad_1] Australian blockchain energy firm Power Ledger and Indian electricity distribution company BSES Rajdhani Power Limited (BRPL) have completed a peer-to-peer (P2P) solar power trading trial in the country.Power Ledger announced the news in a press release shared with Cointelegraph on Nov. 14, detailing that it carried out a large-scale P2P energy trading trial in the Dwarka region, South West Delhi, which initially comprised 5-6 megawatts (MW) of already existing
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Crypto Exchange OKEx Launches Bitcoin Futures Margined With Tether

[ad_1] Cryptocurrency exchange OKEx has launched Bitcoin (BTC) futures contracts that are margined with the Tether (USDT) stablecoin. OKEx announced the new offering in a press release on Nov. 14.OKEx first announced its intention to launch USDT-settled futures trading with up to 100x leverage at the end of October. Now, after conducting a simulation that began on Nov. 5, the exchange listed the BTC/USDT offering on its trading platform.The exchange