Crypto Coin Gains 5,000% In One Day — And 5 Other Updates You Cannot Miss
Over the last 24 hours, the value of one token for HuskyX increased the most by 5,383.72%. One token was priced at $.000001857.
Other big winners included:
- PolypuX: Up by 2,693.53 % in the last 24 hours
- Impermax: Up by 723.63% in the last 24 hours
- Angry Squid: Up by 641.22% in the last 24 hours
- BnBeer: Up by 223.30 % in the last 24 hours
- Primecoin: Up by 168.56% in the last 24 hours
New Crypto Tax
President Joe Biden signed the $1.2 trillion bipartisan infrastructure bill into law on Monday. One of the more controversial provisions included new tax reporting requirements for a booming cryptocurrency market. The new law will require brokers, meaning cryptocurrency exchanges, to issue a 1099-B form. This means they will now be required to notify the IRS directly of crypto transactions, whereas in the past this could be done anonymously.
The Government Cracked Down on Ripple
San-Francisco-based fintech start-up Ripple announced on Tuesday that it will launch a product named “Liquidity Hub”, allowing financial services firms to offer their customers access to cryptocurrencies, CNBC reported. Their new service will offer trading for cryptocurrencies and is expected to launch next year.
Ripple is currently being sued by the SEC for allegedly raising funds through an unregistered securities offering.
Coinbase Shares Tank After Disappointing Third Quarter
Coinbase largely missed analyst revenue estimates on Tuesday after reporting its third-quarter earnings. Shares plummeted 13% after the news. The exchange also states its monthly users fell to 7.4 million, down from 8.8 million in the quarter prior. Trading volume also fell from $462 billion to $327 billion in the previous quarter.
Tim Cook Said He Bought Crypto
Apple CEO Tim Cook said on Tuesday that he personally owns cryptocurrency. ” I think it’s reasonable to own it as part of a diversified portfolio,” Cook stated during a New York Times DealBook conference. ” I’m not giving anyone investment advice by the way.”
Cook added that Apple is not accepting cryptocurrency as payment or buying cryptocurrency itself as a company.
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