Crypto Tax Proposals Weighed Ahead of Tuesday House Hearing

The US House Ways and Means Committee circulated seven discussion drafts of bills to address digital asset taxation ahead of a Tuesday hearing on the matter, covering stablecoins, staking, mining and transactions. Among proposals in the draft legislation are reducing the tax paperwork required for crypto holders, providing clarity for mining and staking tokens and…

Bitcoin Bears Boost Shorts, Will Bulls Liquidate Them And Reverse BTC Price?

Key takeaways: Over-leveraged Bitcoin short positions between $63,000 and $66,000 have created a potential $2.6 billion squeeze trap for bears. Negative perpetual funding rates indicate that bulls have fully deleveraged, significantly reducing downside risk. The Bitcoin (BTC) crash to $61,100 on Friday wiped out $335 million in leveraged long positions. However, after a 21% decline…

Security experts warn advanced AI is about to spark a hacking crisis for both crypto and banks

A major bug found in the top privacy network Zcash, using artificial intelligence, may be a warning sign that similar undiscovered flaws exist across crypto and banking software. What’s worrying the crypto community is that the bug, which had existed in the network for 4 years, was only found recently by Shielded Labs, a nonprofit…

House GOP Moves to Limit Lawmakers’ Prediction Market Betting

Republicans in the US House of Representatives are moving to add prediction market restrictions to a stalled congressional stock trading ban, as lawmakers scrutinize whether members of Congress should be allowed to wager on elections or public policy. House Administration Committee Chair Bryan Steil plans to attach prediction market provisions to H.R. 7008, the House’s…

Bitcoin Trader Sees Coinbase, Kimchi Premium Sparking New BTC Price Uptrend

Bitcoin (BTC) has fulfilled two of three key conditions to spark the next BTC price “rally,” new analysis says. Key points: Bitcoin whales on Hyperliquid and Bitfinex are already pointing to the beginning of a BTC price uptrend, according to the latest findings. Bitcoin markets now need demand to return in the form of the…

Zcash Developers Weigh New Shielded Pool After Orchard Bug

Zcash developers and researchers are discussing whether a new shielded pool could help restore supply verification confidence after a recently patched Orchard vulnerability. Shielded Labs, an independent Swiss-based Zcash support organization, said in a security update on Friday that it is exploring a proposed network upgrade that would deploy a new shielded pool and enforce…

South Korean Authorities Launch First Reported Illegal Gambling Probe Into Polymarket Users

South Korean police have reportedly launched the country’s first illegal gambling probe into local Polymarket users, widening regulatory scrutiny of the decentralized prediction market. The investigation is led by Gangwon Provincial Police and was requested by the National Police Agency, according to ChosunBiz.  Users may face fines of up to 10 million won ($6,500) under…

Bitcoin and ether ETFs end record multi-billion outflow streak

U.S. spot bitcoin ETFs logged a tiny net inflow of $3.05 million on Wednesday, breaking a 13-session redemption streak that drained more than $4.4 billion from the cohort since mid-May. The outflows dragged total bitcoin ETF assets down to $80.40 billion from $104.29 billion at the start of the streak. BlackRock’s IBIT, the largest fund…

ZEC Falls After Disclosure of Patched Zcash Orchard Vulnerability

The price of ZEC fell on Thursday after further details were disclosed of a critical counterfeiting vulnerability in Zcash’s Orchard pool that could theoretically allow a bad actor to mint an unlimited amount of ZEC. According to a post on X, security engineer Taylor Hornby, who was engaged by Shielded Labs, discovered the bug on…

Strategy’s Bitcoin Model Under Pressure, Grayscale Warns

Strategy’s leveraged Bitcoin model is stressed, which could limit the firm’s ability to keep buying BTC and potentially force further sales, according to Grayscale. “The shift in approach from one of the world’s largest BTC holders has weighed on market sentiment,” said Zach Pandl, Grayscale’s head of research, on Thursday.  Michael Saylor’s Strategy sold 32…