Birmingham, England–(Newsfile Corp. – May 22, 2023) – WAGMI coin’s community driven strategy was recently unveiled to the public with features and options considered towards a more inclusive crypto landscape for users. WAGMI Coin, a community-driven cryptocurrency project, aims to revolutionize the crypto space by empowering its members and promoting responsible financial practices. With its unique approach and commitment to transparency, WAGMI Coin presents a promising alternative in the landscape of community-driven initiatives.
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WAGMI Coin recognizes these concerns and seeks to address them head-on by prioritizing community engagement and collaborative decision-making.
WAGMI Coin goes beyond surface-level engagement and fosters a genuine commitment to community-driven development, encouraging active participation from its members in shaping the project’s direction and governance. This inclusive approach cultivates a strong sense of ownership, collaboration, and empowerment within the community.
The asset strategy emphasizes long-term sustainability and real-world impact, raising the standards at which community-driven projects are received and inculcated. By actively involving the community in decision-making and project development, WAGMI Coin fosters a collaborative environment where members’ voices are heard. Through open communication channels, regular updates, and meticulous audits leading to more changes in the current community-inclusive crypto landscape.
Transparency and accountability are fundamental principles guiding WAGMI Coin’s operations. WAGMI Coin is determined in establishing open lines of communication with its community which would be properly regulated and monitored to make it safe for all. Regular updates, thorough audits, and responsible financial practices are some of the crucial cornerstones of WAGMI Coin’s commitment to building trust and credibility among its members and potential investors.
WAGMI Coin’s sustainable focus distinguishes the need for long term-viability over short term gains by creating a stable ecosystem that encourages ongoing community engagement and provides lasting value to its stakeholders. According to the project this is expected to bring a dynamic shift in the ways through which the current crypto landscape perceives and promotes community-driven projects.
Key Features of WAGMI Coin:
Community-First Approach: WAGMI Coin believes that community involvement is vital for success. Community members actively participate in decision-making, project development, and governance processes, fostering a collaborative environment where their voices are heard.
Emphasis on Transparency: WAGMI Coin is committed to transparency and accountability. Open communication channels, regular community updates, and meticulous audits ensure that members are well-informed and can trust in the project’s responsible financial management.
Long-Term Sustainability: Unlike many short-lived meme coins, WAGMI Coin focuses on long-term sustainability and real-world utility. By prioritizing continuous growth and value creation, the project aims to deliver tangible benefits to its community and the broader crypto industry.
As the crypto industry continues to evolve, strong and engaged communities play a crucial role.
WAGMI is changing the crypto landscape by creating a more inclusive and collaborative environment. It encourages individuals to actively participate in the crypto ecosystem, driving innovation, supporting new projects, and amplifying the voice of the community. It drives to be a source of empowerment, representing the transformative potential of cryptocurrencies and their ability to reshape traditional financial systems.
About WAGMI Coin:
WAGMI Coin, short for “We are Gonna Make It,” is a community-driven cryptocurrency project committed to empowering its members and fostering a responsible financial ecosystem. By prioritizing community involvement, transparency, and long-term sustainability, WAGMI Coin aims to set a new standard for community-driven initiatives in the crypto space.
Media details
Website URL: https://www.wagmi.rocks/ Company name: Wagmi Coin Holdings Contact person name: Thomas Jackson Company email address: hello@wagmi.rocks City and country name: Birmingham, England
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166750
The crypto bull run is in full swing, and we’ve seen many digital assets go parabolic alongside Bitcoin’s (BTC-USD) meteoric rise. However, some cryptos have failed to keep pace, languishing with lackluster gains. On the flip side, several promising altcoins seem poised for their own rise as the market shifts from Bitcoin dominance to a full-blown altcoin season.
It seems like Bitcoin is taking a breather before its next leg up, and this consolidation phase could provide the rocket fuel needed to propel select cryptocurrencies in red-hot sectors into the stratosphere.
Two of the hottest crypto sectors during this latest bull cycle have been artificial intelligence and layer-1 blockchain platforms. Snapping up promising but lesser-known projects in these areas, along with other quality altcoins in the Web 3.0 ecosystem, looks like a winning strategy.
Cryptocurrencies with relatively small market capitalizations can deliver outsized, multibagger returns in a short period when market conditions align. Here are three cryptos to look into:
Blue violet vector background. Bitcoin and blockchain. Electronic cryptocurrency and modern technology. Online banking, and financial communications. World wide web. Hot Cryptos to Buy
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Neon EVM (NEON-USD) is a promising project based on Solana (SOL-USD) that deserves attention. This algorithm uses timestamps through Solana’s proof-of-history innovation to define the next block in Solana’s chain. Given the ultra-fast speed at which blocks are added to Solana’s blockchain, additional security levels are required to maintain integrity.
This is where the proof-of-history algorithm comes in — by timestamping each block, it enables the system to preserve security even at lightning speeds.
With Ethereum (ETH-USD) gas fees surging as high as $50 for NFTs and more than $30 for a simple ERC20 swap, many developers are shifting their attention to Solana — as excessive fees on Ethereum are simply unsustainable. Cumbersome layer-2 solutions are not the answer. Blockchains like Solana that offer cheap transactions are becoming very attractive for devs.
Neon EVM can ride the tailwinds of this developer momentum. However, stability issues have hampered Solana recently, with occasional outages still occurring.
While the frequency and severity of these incidents are declining, there is optimism that the Solana team will eradicate the problem in the coming months. Once stability is cemented, Neon EVM may become irresistible to developers seeking an affordable and reliable alternative to Ethereum.
At a mere $80.6 million market cap currently, Neon EVM could easily reach over $500 million in valuation or more if it gets sufficient spotlight. The pieces are falling into place, so this is one to watch closely.
Macro view of miner working for bitcoins mine pool. Devices and technology for mining cryptocurrency. Mining cryptocurrency concept. MARA stock. Crypto mining.
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Pyrin (PYI-USD) is another emerging crypto project that combines innovative technology with significant upside potential. This decentralized Kaspa (KAS-USD) fork integrates Blake3 with BlockDAG and GhostDAG, delivering scalable and instant transactions at a minimal cost. The team has also pioneered a groundbreaking proof-of-work algorithm called PAIW aimed at more efficient resource management.
Pyrin seeks to offer high throughput, low latency, security through ASIC resistance and built-in smart contract functionality — all secured by its cutting-edge proof-of-work.
Kaspa is a multibagger even after the recent comedown. A sizable upside in Kaspa if this bull run persists is still possbile. Moreover, projects like Alephium (ALPH-USD) are now capitalizing on similar blockDAG technology to Kaspa.
Pyrin follows in these footsteps, bringing fresh innovations like PAIW to the table. Launched in November 2023, it currently sports a modest $34.2 million market cap. But with the right catalysts, it can be envisioned that Pyrin could reach a market cap similar to Alephium. Of course, this is crypto, so investing in new projects always requires ample risk tolerance.
An image of a cryptocurrency ticker listing Bitcoin, Ethereum, Ripple, Litecoin and Iota, overlaid on an increasing graph line. Top crypto news.
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SubQuery Network (SQT-USD) aims to become the go-to data indexer that “supercharges” dApps across over 125 networks. The team claims its open data solution will bring powerful innovations to the RPC industry.
While the core utility has yet to be fully developed, those buying SQT now are financing the construction of this data node. As we’ve seen with projects like DevvE (DevvE-USD), investing in promised potential ahead of real utility can lead to painful dilution and selling pressure later on.
Still, with a tiny $19.2 million market cap, SubQuery could easily increase 10 times or more with sufficient hype. However, it is advisable to only invest spare capital given the unfinished state of the platform. If the data indexer works as envisioned once live, the project could succeed in a big way. But until then, you are investing in a promise.
InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.Read More: How to Avoid Popular Cryptocurrency Scams
On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on LinkedIn.
The post 3 Explosive Cryptos That Can 10X Your Portfolio Overnight appeared first on InvestorPlace.
For years, crypto and NFT investors have leveraged wash sales to save thousands of dollars on their taxes.
However, this “tax loophole” may be ending in the near future. Currently, the Biden Administration’s budget package contains a provision to expand the wash sale rule to cryptocurrency and NFTs and limit crypto investors’ ability to claim capital losses.
To better understand how the wash sale rule works, it’s important to understand how capital losses are taxed.
When you dispose of cryptocurrencies, NFTs or other assets, you’ll incur a capital gain or loss depending on how its price has changed since you originally acquired it.
If the price of your crypto has gone up since you acquired it, you’ll incur a capital gain. If the price of your crypto has gone down, you’ll incur a capital loss.
While losing money is never the goal, capital losses come with a silver lining — tax benefits.
In the U.S., capital losses can offset an unlimited amount of capital gains for the year and up to US$3,000 of income. If you have more than US$3,000 of net losses during the year, you can roll forward your loss into future tax years.
Because capital losses can offset gains and other forms of income, investors will often sell their assets at a loss intentionally for tax benefits.
To prevent investors from taking advantage of capital loss rules and offsetting gains and income “inappropriately,” the Internal Revenue Service put the wash sale rule in place.
The wash sale rule states that if you buy a security 30 days before or after selling the same security (or one that is substantially identical), you are not allowed to claim a capital loss on your tax return.
Based on the current language of the wash sale rule, it’s likely that it does not apply to cryptocurrencies and NFTs at this point in time. Currently, the wash sale rule only applies to “securities” — in other words, stocks and equities.
Notwithstanding the arguments put forth by the Securities and Exchange Commission, crypto-assets are considered “properties” and not ‘securities’ by the IRS, so it’s reasonable to assume that cryptocurrency and NFTs are not currently subject to the wash sale rule. As a result, investors can dispose of their crypto-assets, claim a loss, and then buy back the same asset shortly after.
Because cryptocurrency prices are so volatile, crypto investors have long used the lack of the wash sale rule to claim capital losses. Market downturns often give crypto investors the opportunity for thousands of dollars in tax savings through wash sales.
President Biden’s March 2023 budget plan aims to expand the wash sale rule to crypto-assets.
While it’s too early to tell whether closing the “crypto tax loophole” will be passed into law, this is not the administration’s first attempt to expand the wash sale rule. The Build Back Better Act — which failed to pass through Congress — also would have made crypto capital losses subject to the same 30-day restriction.
One thing is clear: Legislators have been looking to expand the wash sale rule to cryptocurrency for years. No matter whether or not the Biden budget plan successfully passes into law, investors should be prepared for the wash sale rule to apply to cryptocurrencies in the near future.
In our estimation, it’s unlikely that the wash sale rule will be applied retroactively to transactions that take place in the 2023 tax year.
However, the expansion of the wash sale rule means that it’s more important than ever to keep accurate records of your crypto transactions. To accurately report your taxes, you’ll need to keep track of the crypto you’ve bought and sold within the last 30 days.
Manually tracking the holding period for NFTs and cryptocurrencies may be difficult for investors who use multiple exchanges and crypto wallets. Investors in this situation may need to rely on specialized software to handle tracking and reporting their crypto-assets.
The expansion of the wash sale rule is indicative of a more aggressive stance that the federal government is taking towards cryptocurrency. For years, crypto was a niche asset class, which means it often escaped the attention of tax authorities and regulators.
Today, cryptocurrency has reached the mainstream — which means that the federal government is paying closer attention than ever to the ecosystem. Recently, the IRS’s digital assets project director announced that more detailed guidance about cryptocurrency transactions is coming in the next 12 months.
It’s clear that the IRS is more serious than ever about collecting revenue from the cryptocurrency ecosystem — which makes it important for investors to accurately track and report their crypto transactions.
The expansion of the wash sale rule may limit crypto investors’ ability to claim capital losses. To prepare for potential changes in tax law, it’s important to keep accurate records of your cryptocurrency transactions — including your holding periods for your crypto-assets.
It might sound strange at first, but stablecoins are soaring these days.
I don’t mean that the price of Tether(CRYPTO: USDT) or USD Coin(CRYPTO: USDC) is skyrocketing, of course. They are going nowhere from that perspective, essentially pinned to the $1.000 price point as expected. But the entire category of stablecoins is gaining momentum, with lots of new names on the market and a rising tide of trading volumes.
So let’s look at the surging stablecoin category. The calmest corner of the cryptocurrency market can be surprisingly exciting.
First, let’s think about what stablecoins are good for.
These digital coins have several functions in the crypto world.
With a price permanently pegged to a traditional fiat currency such as the US dollar, the euro, or the Japanese yen, they are a helpful tool for crypto-trading exchanges and banks. Exchanging dollars for Tether or USD Coins is very straightforward, and then you have a crypto-based representation of simple dollars in your digital assets account. From there, you can use the stablecoins to buy other cryptocurrencies, without raising currency exchange questions by involving actual dollars again.
The leading names have become extremely stable over time. Tether prices fluctuated wildly in 2016, ranging from $0.10 to $2.01 when the very concept of stablecoins was new and unproven. The newer USD Coin had a lighter bout of volatility just after its launch in 2018, rising as high as $1.04. But Tether quickly stabilized and hasn’t moved more than 1.1% away from a perfect $1.00 in the past five years. USD Coin took a quick 3.4% dip amid the collapse of the experimental Terra stablecoin in 2023.
Any respectable stablecoin looks like a straight horizontal line next to the S&P 500(SNPINDEX: ^GSPC) stock market index, other cryptocurrency prices, or any other fluctuating economic data point. Here’s a five-year stablecoin vs. S&P 500 chart for your amusement. The big blip of USD Coin uncertainty in 2023 is barely visible:
Tether Price data by YCharts
Tether was the first name in the stablecoin game, and it’s still the largest and most widely used option. It’s essentially your only choice if you want to use a stablecoin that is independent from specific crypto exchanges.
USD Coin was launched by a group including Coinbase(NASDAQ: COIN). It’s no surprise to learn that Coinbase defaults to using USD Coin across its trading platforms. That’s not the only place you can buy, sell, and hold USD Coin, though. Every major crypto exchange supports it, and there are far more USD Coin transactions on Binance than on Coinbase.
The Sky.money crypto-trading platform is an interesting case. Coinbase launched the USD Coin, but Sky.money worked the other way around. This system started with the USDS(CRYPTO: USDS) stablecoin, formerly known as Dai and Maker. The rest of the trading platform was built around the quirks and requirements of USDS. Sky.money may not ring a bell, but USDS is the third-largest stablecoin by market cap.
And there are many more. For example:
The Ripple Foundation launched a Ripple USD(CRYPTO: RLUSD) stablecoin in December, basing the coin on US dollars and the XRP(CRYPTO: XRP) cryptocurrency. This coin is helping Ripple’s payment services execute international money transfers, serving as a super-liquid pool of cash-backed assets.
The Tether Holdings group could soon introduce a second version of the Tether coin, specifically aimed at large institutional investors in the United States.
And this could be the start of a large trend. Asset manager giant Fidelity Investments is planning a stablecoin. Even larger firm Blackrock(NYSE: BLK) introduced one in March 2024. Even Bank of America(NYSE: BAC) is open to the idea of an in-house stablecoin, depending on how American regulations will shape up around this opportunity.
So the stablecoin legion is growing larger and more diverse.
Whether you’re looking at Tether, USD Coin, or USDS, their average daily trading volume has been bubbling up over the last two years.
Tether’s average transaction volume stood at $19 billion in early April 2023. Now it’s up to $182 billion per 24 hours. USD Coin’s volume rose from $6 billion to $28 billion over the same period. The Dai/USDS ecosystem surged from $130 million per day to $2.7 billion.
This is more than empty talk. People (and automated trading algorithms) are putting these stablecoins to work. In all fairness, the rising interest applies to non-stablecoin cryptocurrencies, too. Bitcoin’s daily trading volume is up from $9.4 billion to $101 billion, for instance. But the stablecoin community is taking advantage of broader public crypto interests.
Stablecoins can do more than just facilitate trades between fiat currencies and cryptocurrencies. Their powers are growing over time, since every new stablecoin option wants to win customers and usage with their unique features.
Some of them offer generous interest rates, putting most savings and money market accounts to shame. The spare cash in my Coinbase account is earning an annual percentage yield (APY) of 4.1% right now. That’s comparable to the best money market yields on the market today.
A few stablecoins rely on a specific blockchain system, like the XRP-based Ripple USD coin. Others pick a proven coin-launching foundation such as Ethereum(CRYPTO: ETH) or Solana(CRYPTO: SOL), depending on their technology to provide data security and smart contract functions. And then there’s Tether, which provides transparent support for more than a dozen blockchain networks. That’s a diverse approach, protecting Tether holders against platform-specific risks. Tether can always untether itself (har-de-har-har) from any risky or flawed solution, relying on a dozen alternatives instead.
So you see, there’s plenty of buzz in the stablecoin sphere right now. There are plenty of alternatives for good reason. These mega-stable coins (often with lucrative yield rates) may look especially attractive when the broader crypto market is experiencing wild volatility, like this week.
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Bank of America is an advertising partner of Motley Fool Money. Anders Bylund has positions in Coinbase Global, Ethereum, Solana, and XRP. The Motley Fool has positions in and recommends Bank of America, Coinbase Global, Ethereum, Solana, and XRP. The Motley Fool has a disclosure policy.
3 Reasons Stablecoins Are on the Rise was originally published by The Motley Fool
We recently published a list of Jim Cramer’s List of 16 Stocks to Buy Right Now. In this article, we are going to take a look at where Martin Marietta Materials, Inc. (NYSE:MLM) stands against other stocks on Jim Cramer’s list to buy right now.
On Monday, April 14th, Jim Cramer opened the Mad Money episode with a striking observation on the dramatic change in market sentiment and what is going on in the markets right now, saying:
“If you told me this is where the market was headed two or three months ago, I would have thought you were insane, even crazier than I am. This radical transition over the past few weeks has just been frankly unfathomable. We’re now buying stocks we hated and we’re despising, and guess what we are now selling short the stocks that we used to worship. And it’s all happening on the fly. […] You can’t tell what’s underneath though but that makes it much easier for those real seekers who want to surf the Trump ‘stock wave’.”
READ ALSO: Jim Cramer Sounds the Alarm on China Rhetoric and Dollar Panic Then Analyzes 11 Key Stocks and Jim Cramer Hints at a Bigger Agenda Behind Tariffs and Breaks Down These 7 Stocks.
Cramer noted that the market’s rotation under the Trump administration has been profound, pushing investors to abandon old favorites in favor of new, domestically focused winners:
“We have to think about how to profit from this new market if it means making some pretty sharp changes to your portfolio and believe me this is something I think about every day for the club. […] See something happened this weekend that crystallized things for me. The Wall Street Journal put together this incredible chart of the stocks that are winning so far under the reign of Trump. Oh my! The extraordinary lack of economic sensitivity, the amazing America first nature of the businesses, the pure service nature of so many of these companies, they couldn’t be less like what we liked under President Biden. Rip up the old playbook; there’s a new stock sheriff in town so here’s what I did: I looked at the winners so far this year from the chart and thought about which ones were good to go, and which ones maybe needed to be demoted for a better substitute because perhaps they moved too far.”
The Mad Money host then outlined the common traits of the strongest performers and offered viewers a curated group of stocks he believes are worth buying now, saying:
“Look I’ve got no illusions after going over these companies I see several things the winners have in common. They don’t have a lot of competition, they’re largely domestic, they don’t need a strong economy, you can’t tariff them out of existence, they have scale, and most have fat margins […] Take advantage of this list. We will have down days. Keep the list handy, I’ll refer to it many times. It’s the right place to be, even in a recession, which again is a possibility given how stuck much of the economy really is right now.”
For this article, we compiled a list of 16 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on April 14. We listed the stocks in the order that Cramer mentioned them. We also provided hedge fund sentiment for each stock as of the fourth quarter of 2024, which was taken from Insider Monkey’s database of over 1,000 hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Jim Cramer on Martin Marietta Materials (MLM): “Road Building Is Booming — This Is the One You Want!”
A large construction project with cranes and forklifts in action, demonstrating the company’s building materials business.
Number of Hedge Fund Holders: 54
Martin Marietta Materials, Inc. (NYSE:MLM) is a leading supplier of construction aggregates and heavy building materials used in infrastructure and road construction projects. Cramer highlighted the surge in road building activity as a major theme benefiting domestic companies like Martin Marietta, especially as Biden’s long-delayed infrastructure spending finally gains traction. Here’s his analysis:
“For some reason, road building is a big theme among the winners and that means you want to own Martin Marietta Materials. […]
Overall, MLM ranks 10th on our list of stocks on Jim Cramer’s list to buy right now. While we acknowledge the potential of MLM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than MLM but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
Bitcoin bull and Strategy (formerly MicroStrategy) Chairman Michael Saylor has responded to Barstool’s Dave Portnoy, who asked a question on X: Why does Bitcoin seem to move exactly like the U.S. stock market?
Portnoy wrote, “If the point of Bitcoin is to be independent of the US Dollar and non-regulated, why does it basically trade exactly like the US stock market nowadays? Market up, Bitcoin up. Market down, Bitcoin down.”
Saylor replied, “Bitcoin trades like a risk asset short term because it’s the most liquid, salable, 24/7 asset on Earth. In times of panic, traders sell what they can, not what they want to.”
He added, “Bitcoin is most volatile because it is most useful.”
His response came right as global markets were reeling from President Donald Trump’s sweeping new tariffs announced on April 2, dubbed “Liberation Day.” Trump imposed a blanket 10% tariff on all imports — with higher rates like 26% for India and 34% for China — claiming it would restore U.S. industry.
The market didn’t share that optimism. On April 3, the S&P 500 index fell 3.74% to 5,461.44, the Nasdaq dropped 4.94% to 16,731.06, and the Dow Jones Industrial Average slipped 3.19% to 40,880. Even safe haven assets like gold dipped. And yes — Bitcoin fell too.
Strategy (Nasdaq: MSTR), which holds more Bitcoin than any other public company, was down 7.71% to $288.44, showing how sensitive even crypto-linked equities are to macro shocks.
Just days earlier, Saylor had announced a massive Bitcoin buy, 22,048 BTC acquired between March 24 and March 30, for a total of $1.92 billion at an average price of $86,969 per coin. Strategy now holds 528,185 BTC — worth about $35.63 billion — purchased at an average cost of $67,458.
At the time of writing, Bitcoin was trading at $82,632.57, up 0.9% on the day, per Kraken.
So, does Bitcoin move like stocks? Sometimes. But as Saylor reminds us, that may say more about human behavior than the asset itself.
Howard Lutnick, Donald Trump’s billionaire commerce secretary, suggested on a podcast this week that missing Social Security checks aren’t a big deal, and that only a “fraudster” would actually complain if their monthly benefit didn’t come in the mail.
“Let’s say Social Security didn’t send out their checks this month,” Lutnick said on the All-In podcast. “My mother-in-law is 94. She wouldn’t call and complain. She just wouldn’t. She would think something got messed up and she’ll get it next month. A fraudster always makes the loudest noise screaming, yelling, and complaining.”
“The easiest way to find a fraudster is to stop payments and listen,” he continued. “Whoever screamed is the one stealing.”
Lutnick’s comments come as Elon Musk and his minions from the so-called Department of Government Efficiency (DOGE) have invaded the Social Security Administration, implementing big changes and leading Americans to worry that their benefits could be in danger.
DOGE has pushed to close dozens of Social Security offices and limit phone services. The Social Security Administration (SSA), which has plans to slash its workforce, announced earlier this week that it will no longer allow people to verify their identities by phone, forcing them to come into brick-and-mortar field offices. The changes could overwhelm the agency’s staff and delay access to benefits.
The AARP, a powerful advocacy group for seniors, was livid about the latest proposed change. “The Social Security Administration’s move to force people to visit offices in-person for services that they have sought by phone will result in more headaches and longer wait times to resolve routine customer service needs,” the AARP wrote in a statement. “Requiring rural Americans to go into an office can mean having to take a day off of work and drive for hours merely to fill out paperwork.” The AARP continued to stress the change could result in “real economic hardship” for older Americans.
Lutnick — a billionaire whose in-laws are also affluent — doesn’t seem to understand this, to say the least.
The federal judiciary has been thwarting some of the ostensibly illegal moves the Trump administration has made to take over Social Security, including by blocking the Social Security Administration from allowing Musk and DOGE to access the sensitive private data of hundreds of millions of Americans. Lee Dudek, whom Trump named acting administrator of the SSA, was so miffed by the ruling that he threatened to shut down Social Security entirely. “Really, I want to turn it off and let the courts figure out how they want to run a federal agency,” he said on Thursday, per Bloomberg.
Social Security going dark would endanger the welfare of millions upon millions of older and disabled Americans who rely on the benefit program to live.
Lutnick seems more concerned with the welfare of the world’s richest man.
Earlier his week, he went on Fox News and begged viewers to buy Tesla stock, which has been tanking as Musk continues to fire federal employees and dismantle essential government services. The Campaign Legal Center called for an investigation into the plea on Friday, calling Lutnick’s remarks an “apparently flagrant violation of federal law” barring public officials from using their offices for private gain.
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Now nearly invisible in its shroud of dense undergrowth, this abandoned mansion in Canada was once the epitome of opulence, wealth and comfort. According to local lore, the building was last owned by an infamous ‘Crypto King,’ who had amassed an enormous fortune through his crypto-mining operations which he ran from the basement of the home.
But what circumstances led to the owner allegedly vanishing without a trace? Read on to explore the eerie mansion he left behind…
An expansive estate
The incredible mansion clearly has certainly seen better days, but it’s apparent even in its derelict state that it was once an impressive estate. The property spans two separate lots and includes a tennis court, swimming pool and spacious front yard.
However, the most interesting insights into the property’s past can be found inside the building, as urban explorer Dave of Freaktography discovered…
Elegant entryway
Entering the home, you immediately find yourself in a grand foyer, with a sweeping staircase, double-height ceiling and leaded glass windows framing the front door.
The polished hardwood flooring still appears to be in excellent condition, as do the moulded wall panels. From the view of this space alone, one might easily believe that the home was ready to receive guests rather than an abandoned relic.
Signs of damage
Moving into what was presumably once the great room or primary living space, it’s much easier to see the signs of damage and decay.
A ceiling leak has resulted in large pools of water, damaging and discolouring the floor below, and broken windows have likewise left the space exposed to the elements.
Former glory
However, with a row of floor-to-ceiling windows and doors overlooking the pool and patio, this room was likely once a lovely suntrap in which to relax. High ceilings and decorative moulding also help to give the room an added sense of polish.
Mysterious medical gear
Throughout the room, and indeed throughout the house, discarded detritus was discovered either left behind by its elusive owner or squatters who purportedly called the property home for a time following his departure. But, more on that later…
Strangely, these items include boxes of surgical masks and surgical gowns. We wonder what they might have been needed for?
70s-style interiors
The room features faux stone wall tiling and marble flooring, combined with a very 1970s brown colour palette.
At one end of the room, a fireplace presumably once provided a cosy spot around which to gather, while opposite the wall of windows, a very large built-in cabinet provides both ample storage, and, oddly, a window through to the adjoining room…
Gorgeous woodwork
With gorgeous wooden panelling from floor to ceiling and a dramatic spiral staircase, this room may once have been a den or library.
The lustrous cherry panelling is in remarkably good condition given the damage to the adjoining room, and would only need the tiniest bit of TLC to be restored to its former glory.
Fortunes made and lost
The staircase is enclosed three-quarters of the way by windows, creating a unique room. A true work of master craftsmanship, the detailing is suggestive of the extensive wealth of the home’s previous owner.
Crypto is notoriously volatile as an investment and it’s possible to lose millions overnight, could this explain his sudden disappearance from this beautiful property?
Opulent master suite
Up the staircase, the home’s second storey consists largely of bedrooms, most of which are in surprisingly good condition. With an ornate marble fireplace and ensuite, this room was likely the master bedroom.
Interestingly, while it may look like the staircase leads directly to this room, in reality it was once closed off by a wall of glass brickwork, which has now either fallen or been knocked down.
More water damage
The dark upstairs hallways do show some signs of water damage, with peeling paint and stained carpet.
During his exploration, Dave wandered the hallways carefully, unsure what might be around each corner…
Signs of life
The greatest surprise came when Dave entered yet another bedroom to find signs of life.
“As we stepped cautiously through the crumbling ruins, we stumbled upon an unexpected twist – there were signs of someone squatting there,” he explained.
An unexpected guest
The setup included a mattress and some bedding, neatly made up. Dave said: “A squatter has made this forsaken mansion their home, adding an extra layer of intrigue to our exploration.”
However, there were no indications that the squatter was on the premises at the time.
A hidden hot tub
Another surprise hiding on the second storey was an indoor hot tub, tucked away in its own private room.
Complete with an ornate leaded stained glass keyhole window and a skylight, this lush oasis would have made the perfect place to kick back and relax after a long day down the crypto mines.
More luxurious living spaces
Back on the first floor, this room was likely another living or family space, with beautiful, polished hardwood floors, an elegant marble and carved wood fireplace and decadent window drapes.
The room appears to be in quite good condition, although the left side of the draping has disappeared from one of the windows and one of the lampshades is missing from the chandelier, though someone appears to have thoughtfully placed it on the mantelpiece…
Pizza party remains
The kitchen, too, was clearly once quite an impressive space for entertaining, with hardwood cabinets, marble countertops, an extravagant coffered ceiling and a spacious island. However, it appears to have been torn asunder by a recent visitor to the property, with drawers ripped out of cabinets and detritus strewn across the floor. There was even a take-out box left over from a mysterious ‘pizza party.’
However, unquestionably the property’s greatest surprise was lurking in the basement…
The crypto cave
Here lies an entire secret room dedicated to mining cryptocurrency. With thermal insulation hanging from the rafters and sealed-up windows Dave discerned that the room must have been used for Bitcoin mining, back in the crypto millionaire’s heyday…
Lots of equipment
This theory was further backed up by the dozens upon dozens of discarded boxes for storing equipment, such as computer graphics cards and a fan for presumably keeping the room cool during ‘mining’ sessions.
However, while the packaging remains, the equipment itself is all long gone.
Curious quarters
The basement is entirely unfinished, and it’s hard to imagine why with such lavish living conditions upstairs, the owner wouldn’t have spared a little largesse to make the headquarters for his mining operation a bit more comfortable.
Left to rot
Outside, the property has succumbed to the elements and Mother Nature. The once luxurious pool now has a swamp-like appearance.
Nevertheless, the mansion was built on an impressive plot, and according to public records, the “single-family” home has space for an incredible seven parking spaces.
A new owner?
Despite the fact that it has been left to decay, the entire property is still estimated to be worth a cool CA$4.2 million ($3m/£2.4m) and is currently listed as vacant land for development.
Dave believes that someone may have purchased the home given that the property was recently secured, and there appears to be some attempts at salvage taking place within the house. However, he said the mansion, rather sadly, is likely, “to be demolished for a new build.”
So many mysteries…
As it currently stands, what lies in store for this mansion remains just as much of a puzzle as what events transpired to result in its current abandoned state.
Who was the ‘Crypto King’, and what dramatic turn of events caused him to leave behind this magnificent home? We can only guess…
100 per cent of funds raised provide grants to schools, charities and community organizations across Canada
OTTAWA, ON, April 30, 2025 /CNW/ – Canada Post has issued a new Community Foundation stamp as part of its annual fundraising campaign to support community programs for Canadian children and youth.
Community Foundation stamp (CNW Group/Canada Post)
The stamp features a charming illustration of giraffes caring for their young, highlighting the importance of giving every child the opportunity to thrive in a supportive and enriching environment.
The Community Foundation distributes grants to local and national non-profit groups that offer programming for children and youth across Canada. Since 2012, it has awarded $14.8 million to more than 1,300 community projects in every province and territory.
Grants from the Foundation are funded through customer donations in post offices, employee contributions and a portion of the proceeds from the sale of the stamp and postcard. Every dollar raised provides grants to schools, charities and community organizations that make a difference in the lives of children and youth (up to age 21).
About the stamp
Designed by Paprika and illustrated by Anne-Julie Dudemaine, the 2025 Community Foundation stamp artwork features playful and original typography that was created specifically for this stamp issue. The design was selected by Canada Post employees and signifies what the Foundation wants childhood to be for every child: lighthearted and carefree.
The stamp, Official First Day Cover – cancelled in Ottawa – and colourful postage-paid postcard are available at post offices and online at canadapost.ca/shop. A $1 surcharge from the sale of each booklet of 10 stamps, or an extra 10 cents from the sale of each OFDC and postcard, goes straight to the Foundation.
About the Foundation
A registered charity, the Canada Post Community Foundation’s mission is to improve the lives of Canadian children and youth. Through its grassroots, community-based approach, the Foundation plays a key role in helping Canada Post achieve its purpose, A Stronger Canada – Delivered. Supporting initiatives that benefit children and youth helps strengthen communities for all Canadians.
To donate to the Community Foundation, purchase a booklet of stamps at a local post office or visit canadapost.ca/community.
For links to images of the stamp and other resources:
SOURCE Canada Post
Cision
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2025/30/c0086.html
Moving fast: A person holds a visual representation of bitcoin at the ‘Bitcoin Change’ shop in the Israeli city of Tel Aviv. Photo: JACK GUEZ/AFP/Getty Images.
Facing increasing regulatory scrutiny and tumbling prices, cryptocurrency enthusiasts are looking for reasons to be cheerful in 2019.
One potential positive? The ‘STO’.
STO, which stands for ‘security token offering’, has become a recent buzzword in the crypto sector. At the MJAC & CryptoCompare ‘London Blockchain Summit’ in November one keynote was titled: ‘Will STOs replace IPOs?’
Advocates hope STOs offer a legally compliant new growth area for crypto that will allow companies to put everything from stocks to artworks onto tradable crypto tokens.
To understand the STO, you first have to understand an ICO. An ICO — short for initial coin offering — is where a startup issues digital tokens in exchange for money to fund its business. It is essentially crowdfunding, but investors are given tokens instead of equity. Usually, they are linked to the project in some way. It’s a little like raising funds to build a cinema by selling tickets in advance.
These digital tokens are usually structured similarly to ethereum, the second biggest cryptocurrency, in that they are digitally storable, tradable, and cryptographically based.
READ MORE: ‘Unsustainable’ crypto startup funding bubble has burst
The first ICO was ethereum in 2014 but the fundraising method exploded in popularity in 2017, fuelled by a general crypto boom. By the end of that year, over 800 projects had raised more than $6bn through ICOs. This momentum continued into the first half of 2018.
However, the pace of ICOs slowed over the last six months as crypto prices sunk and ICO projects that had already raised money failed to live up to the hype.
“We’ve got the massive bear market which is slightly intertwined with the capital cycle slowing up and it’s created this negative reputational debt with this acronym ICO,” Edd Carlton, the head of institutional trading at BlockEx, told Yahoo Finance UK. “If you say ICO now, you get the air through the teeth.”
Regulators have also cracked down on the fundraising method. In the US, the Securities and Exchange Commission said that most ICO tokens in fact qualify as securities. As a result, companies that issued them are breaking the law by offering unregistered securities.
Basis, an ICO project aiming to create a stable cryptocurrency, shut down last month and blamed “generally onerous” securities laws. The project had raised $133m from investors including Silicon Valley VC firm Andreessen Horowitz and Bain Capital Ventures. (Remaining funds were returned to investors.)
“You can’t ignore the fact that regulators in the US are driving people with the stick approach, scaring people away with orange jumpsuits and subpoenas,” said Carlton.
However, while historic ICO projects look to be in trouble, the SEC did not explicitly ban ICOs. As a result, lawyers and crypto advocates now see a new market for SEC-compliant ICOs. These have been dubbed ‘security token offerings,’ to reflect the fact that they are now classified as securities.
As well as offering the potential for legally compliant ICOs, advocates argue that STOs allow companies to put existing securities such as stocks and bonds on to a cryptographic blockchain. This would allow people to trade these securities without the need for a middleman.
In theory, any form of value could be ‘tokenized’ — stock certificates, diamonds, even art collections. Jeremy Allaire, the CEO of Goldman Sachs-backed crypto company Circle, likes to talk about the “tokenization of everything.”
BlockEx is currently working in the UK Financial Conduct Authority’s regulatory “sandbox” to develop a sterling-denominated bond token, an example of an STO. It will target small businesses that usually cannot afford the fees associated with underwriting a bond.
“The benefits are clear: time to market and cheaper. You could also throw in the fact that they have complete oversight of who’s bought the bond,” Carlton told Yahoo Finance UK.
“In terms of the participants, settlement is now instantaneous between cash and security,” he said. “We’ve got a really strong narrative for why this makes sense.”
So far, STOs have been few and far between. But several projects are currently advertising plans to launch STOs in 2019 and the Swiss Stock Exchange is building its own platform to issue and trade security tokens in anticipation of a boom. 2019 could be the year of the STO.
“LinkedIn is always a fantastic gauge,” Carlton said. “The number of people whose profile has now changed from ICO advisor to STO advisor makes me laugh.”
However, he fears that STOs could be the subject of the same sort of overkill and excessive hype that ended up damaging ICOs.
“I think we really risk falling into the same trap now — everyone’s like, ‘I’m going to stick STO on this and then all of a sudden the clouds will part and people will drop gold into my lap and everything will be fine’. That’s absolute rot.
“When people say, well why don’t I just do an equity raise via an STO — what’s the benefit?” he said. “For security tokens, there has to be a need for it.
———
Oscar Williams-Grut covers banking, fintech, and finance for Yahoo Finance UK. Follow him on Twitter at @OscarWGrut.
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Nine ‘grey swan’ risks to watch in markets in 2019
The crypto bull run, which began in early 2024, has the potential to continue until 2026, according to historical patterns and insights from a chart dating back to 1875. This chart, which predicts market cycles from 1875 to 2059, divides time into periods of prosperity, good times, and hard times. (Check out my video above to see the chart.)
According to the chart, prosperity cycles follow patterns of 16, 18, or 20 years, with good times for selling stocks highlighted in orange and hard times for buying stocks in blue. Currently, the chart suggests that the bull market we’re in will extend to 2026, aligning with the broader prosperity cycle.
The crypto market, in particular, has been fueled by several factors, including a pro-crypto administration under Donald Trump, and Congress, which have introduced regulatory clarity and policies designed to foster innovation in the U.S., including a strategic Bitcoin reserve, where the country would accumulate BTC long term. This pro-crypto environment has encouraged institutional and corporate adoption, and investor confidence, contributing to the sustainability of the current bull run.
Also, globally, the acceptance of Bitcoin and other tokens or projects is continuing to rise, with nations integrating blockchain and crypto into their financial systems. Institutional products like the spot Bitcoin ETFs have further solidified the market, making crypto more accessible to more investors.
We have had some price corrections since hitting a new all time high, but these are healthy consolidations rather than signs of a massive crash or bear market. Lots of analysts are optimistic, some are even making huge price predictions for BTC ($250,000 in 2025!) citing the strong institutional interest and global adoption trends as key drivers of continued growth.
Check out today’s video and let me know your thoughts and opinions on the chart from 1875.
The cryptocurrency market appears to be nearing the later stages of its current bull cycle, according to data analytics provider CryptoQuant. A post by contributor Crypto Dan highlighted that the ongoing bull market, which began in January 2023, may peak by the first or second quarter of 2025. The analysis shows that 36% of Bitcoin traded during the fourth quarter of 2024 had been held for less than a month, resembling patterns observed during previous market tops. Despite this, the post suggests that significant gains in Bitcoin and altcoins remain possible before the market corrects, while also advising caution for investors as the cycle matures.
CryptoQuant’s cautious outlook contrasts with more optimistic predictions from other analysts. Steno Research forecasts 2025 as a groundbreaking year for the cryptocurrency market, with Bitcoin and Ethereum surpassing previous all-time highs. Similarly, asset manager VanEck projects Bitcoin to reach $180,000 and Ethereum to exceed $6,000 by the end of 2025. These forecasts are supported by traders on platforms like Polymarket and Kalshi, who expect record-breaking valuations alongside regulatory advancements such as the approval of new crypto ETFs and the establishment of a U.S. Bitcoin reserve.
While optimism remains high, some analysts anticipate short-term challenges. Ledn’s CIO, John Glover, predicts a temporary dip in Bitcoin’s price to $89,000 before rebounding to $125,000 later in the quarter. Reduced liquidity and the Federal Reserve’s monetary policies have also been flagged as potential obstacles. Markus Thielen of 10x Research noted that upcoming decisions by the Federal Open Market Committee could slow Bitcoin’s momentum.
As of writing, Bitcoin is trading at $102,138, with key support at $97,026 and resistance at $103,096. A breakthrough above this resistance could push the price into new highs, potentially exceeding its December 2024 peak of $108,000. Technical indicators, however, suggest that the current trend lacks strong momentum, with the Average Directional Index at 18.69 indicating a weak trend that would require strengthening for further bullish activity.
CryptoQuant’s analysis emphasizes the importance of risk management, advising investors to consider gradually liquidating positions as the market approaches its cyclical peak. Despite differing views on the market’s long-term trajectory, there is a consensus that 2025 will be pivotal for cryptocurrencies, marked by significant price movements and potential regulatory milestones. While the potential for further growth remains, caution is warranted as the market matures and prepares for eventual corrections.
Crypto lawyer Kyle Roche, founding partner of law firm Roche Freedman, filed to withdraw as counsel on Wednesday in several high-profile crypto class-action lawsuits after a whistleblower site alleged the lawyer was involved in “gangster-style” attacks on various crypto companies.
According to court records, Roche has filed to withdraw as an attorney in cases brought against Tether, Bitfinex, the Tron Foundation and HDR Global Trading (which operates as BitMEX).
The cases are all aspiring class-action suits that allege the crypto companies named have defrauded retail customers.
The withdrawal comes just days after a series of videos published on whistleblower site Crypto Leaks appeared to show Roche bragging about his use of the law to harvest sensitive information on crypto companies. The videos also appeared to show Roche referring to jurors as “10 idiots” and the plaintiffs in the class-action lawsuits as “100,000 idiots.”
In a statement, Roche called the videos “illegally obtained, highly edited video clips that are not presented with accurate context.”
Roche, who has previously been retained by Ava Labs, the company behind the development of the Avalanche blockchain, has also been accused of starting frivolous lawsuits against competitors of Avalanche in the Crypto Leaks report.
Kyle Roche and Ava Labs founder Emin Gün Sirer have both denied the accusations. Kyle Roche, Roche Freeman and a spokesperson for Ava Labs did not immediately respond to a request for comment Wednesday.
Wednesday’s motion said that Roche would “withdraw as one of the attorneys for the Proposed Class” and “is no longer involved” in his firm’s class action practice.
Roche has not filed to withdraw as an attorney in other class actions brought against Nexo, Dfinity, BAM Trading (the operator for Binance.US), Solana Labs, the Celsius Network bankruptcy case or Block.one.
Roche also still represents Emin Gün Sirer directly in a handful of legal actions, according to court filings.
However, it appears the class-action lawsuits have not been dropped altogether and will likely proceed with law firm Roche Freedman at the helm – just without its name partner involved.
Online casino and sports betting company Rush Street Interactive (NYSE:RSI) will be reporting results tomorrow after market hours. Here’s what you need to know.
Rush Street Interactive beat analysts’ revenue expectations by 3.4% last quarter, reporting revenues of $254.2 million, up 31.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates. It reported 205,000 monthly active users, up 28.1% year on year.
Is Rush Street Interactive a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Rush Street Interactive’s revenue to grow 20% year on year to $261 million, slowing from the 33.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.06 per share.
Rush Street Interactive Total Revenue
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Rush Street Interactive has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 6.6% on average.
Looking at Rush Street Interactive’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Churchill Downs delivered year-on-year revenue growth of 8.7%, meeting analysts’ expectations, and Hasbro reported revenues up 17.1%, topping estimates by 14.8%. Churchill Downs traded down 16.3% following the results while Hasbro was up 15.9%.
Read our full analysis of Churchill Downs’s results here and Hasbro’s results here.
Debates around the economy’s health and the impact of potential tariffs and corporate tax cuts have caused much uncertainty in 2025. While some of the consumer discretionary stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5.8% on average over the last month. Rush Street Interactive is up 14.2% during the same time and is heading into earnings with an average analyst price target of $15.86 (compared to the current share price of $12.24).
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Elon Musk’s ventures into cryptocurrency are raising eyebrows once again. Blockchain analytics firm Arkham Intelligence reported that Tesla recently moved about $765 million worth of Bitcoin to unidentified wallets.
This massive transfer has sparked a flurry of speculation. What’s Tesla planning next? Will they sell or is there something else at play? Tesla hasn’t commented, leaving experts and crypto-watchers alike in suspense.
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According to BitcoinTreasuries, Tesla holds the fourth-largest stash of Bitcoin among U.S. public companies. Only MicroStrategy and crypto mining giants like MARA Holdings and Riot Platforms hold more.
Tesla’s Bitcoin holdings, though substantial, still make up less than 1% of the company’s total $705 billion market cap. This starkly contrasts with other companies where Bitcoin represents a hefty chunk – sometimes over 25% – of their value.
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Tesla first made headlines in early 2021 when it invested $1.5 billion in Bitcoin. Musk, never one to shy away from risk, saw the move as a way to diversify Tesla’s portfolio and support its interest in accepting crypto car payments.
That news alone sent Bitcoin soaring by over $10,000. But Musk’s love affair with Bitcoin didn’t last long. By mid-2021, he had hit the brakes, citing concerns over Bitcoin mining’s reliance on coal and other fossil fuels, which didn’t align with his broader sustainability mission. The about-face sent shock waves through the crypto community, with Bitcoin dropping more than 10% almost overnight.
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Still, Musk stood firm, declaring that Tesla wouldn’t sell any of its Bitcoin and would resume accepting it for purchases once mining shifted toward renewable energy sources. That didn’t last long, either.
By the summer of 2022, Tesla had sold off most of its Bitcoin at about $20,000 per coin, considerably lower than it initially paid. Critics quickly pointed out that the company had sold near the bottom of the market, losing significant potential profit.
Despite the sell-off, Tesla held on to a smaller reserve – fewer than 10,000 Bitcoin – which has appreciated over 350% since the company’s initial purchase. Had Tesla not sold its holdings, the Bitcoin stash would be worth more than $3 billion today. According to Forbes, Bitcoin recently hit a high of $73,750, far surpassing the company’s original buy price of 43,200 BTC.
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Now, the crypto world waits to see what happens next. The timing of this transfer is particularly interesting, as new accounting standards are set to go into effect this December. The Financial Accounting Standards Board (FASB) has updated its guidelines, requiring digital assets like Bitcoin to be marked at fair value.
Previously, assets could only be marked down in case of depreciation, with no recognition of value increases unless they were sold. These new rules will allow companies to reflect gains and losses in their financial reports, which could shift how firms like Tesla approach their Bitcoin holdings.
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This article Tesla Quietly Transfers $765 Million In Bitcoin, Putting Musk’s Cryptocurrency Strategy Under Intense Scrutiny Amid Market Concerns originally appeared on Benzinga.com