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The Brazilian Senate has approved a new taxation policy, effective Jan. 1, imposing up to a 15% tax on earnings from crypto held in foreign exchanges. The recent approval by the Brazilian Senate of new income tax regulations on crypto earnings marks a shift in the country’s financial landscape. This new legislation, started by President Luiz Inácio Lula da Silva’s administration, has already passed by the Chamber of Deputies, and mandates a maximum 15% tax on crypto currency profits earned from foreign exchanges. Set to be effective once 2024 begins, this rule targets individuals earning over $1,200, or 6,000 Brazilian reals, from such platforms. A big aspect of this regulation is its uniformity; the tax rate for foreign-held funds aligns with that for domestic funds. Notably, earnings withdrawn before the end of 2023 will be taxed at a reduced rate of 8%, increasing to 15% thereafter. The legislation also encompasses “exclusive funds” and foreign compani...

As crypto gears up for what experts expect to be a bullish 2024, pinpointing potent projects can be daunting. This article highlights five cryptos investors can look at next year. Ranking is based on factors such as use cases, market trends, tokenomics, and expert opinions. Meme Kombat Meme Kombat combines meme coins with GambleFi, allowing users to bet on AI-generated battles featuring popular meme characters like PEPE and Dogecoin (DOGE).  MK is the platform’s native token. Additionally, Meme Kombat has a staking mechanism where users can lock their tokens for rewards.  The current APY stands at 389%. So far, over 10 million MK have been staked and over 1.6 million MK allocated as rewards. Meme Kombat integrates meme characters into the battle arena and actively engaging with meme culture on social media, enhancing its visibility. Moreover, the project has an experienced team, and its smart contracts have been audited.  You might also like: Meme Kombat laun...

Meme coins have shown a resurgence in recent weeks as AI tokens surge. Shiba Memu presale has raised over $4.6 million with 29 days to the final offer date. Could this be the opportune moment to buy SHMU? Data shows AI tokens have been on the rise in recent weeks, helped by a massive forecast for the sector by leading tech companies. Amid this outlook, is Shiba Memu, whose presale countdown is now down to just 29 days, worth buying? AI tokens have surged in recent weeks Artificial intelligence-powered tokens have had a decent run in recent weeks. According to data shared by crypto research and on-chain analytics platform Kaiko, AI-related tokens recorded increased trading volumes in November, hitting a peak of $3 billion. Trade volume for AI-related tokens has surged since the middle of October, led by $RNDR, $WLD, and $FET. pic.twitter.com/iuR2nMIwsY — Kaiko (@KaikoData) November 28, 2023 Trading volumes have soared since mid-October, with Rende...

Nearly $700 million of the $873 million trust assets allowed to be sold by FTX comes from Grayscale’s flagship product, the Grayscale Bitcoin Trust, or GBTC. Bankrupt crypto exchange FTX has been given the green light to sell around $873 million of trust assets , with proceeds used to repay creditors impacted by the exchange ’s collapse in 2022, according to a Nov. 29 filing in a Delaware bankruptcy court. The $873 million in assets will be sourced from FTX’s stakes in various trusts issued by crypto asset manager Grayscale Investments, valued at $807 million, and custody service provider Bitwise — valued at $66 million. While the court document references a total of $744 million in assets — this is due to the valuation figure being as of Oct. 25, 2023. The assets have increased in value since.  Order authorizing FTX Trading to sell trust assets. Source: Kroll The approval comes nearly four weeks after FTX debtors filed a motion to Judge John Dorsey on Nov. 3 requesting the sale...

Germany’s Bitcoin Group is implementing improvements to its internal control system following BaFin’s directive to its subsidiary futurum bank to address deficiencies in anti-money laundering and counter-terrorist financing measures. Germany’s Bitcoin Group is under scrutiny by the financial regulator BaFin, which has highlighted significant shortcomings in its subsidiary Futurum Bank’s anti-money laundering and counter-terrorist financing measures. The regulatory intervention underscores the increasing focus on compliance within the cryptocurrency sector, especially in relation to financial misconduct. Bitcoin Group has acknowledged the regulator’s concerns, emphasizing its commitment to addressing these issues. The company, in a bid to reinforce its stance, has clarified that there are no current indications of AML or CTF violations within its operations. This statement, while reassuring, doesn’t fully absolve the firm from the seriousness of B...

On November 29, 2023, crypto lender Nexo, expanded its product line with Dual Investment, a high-yield product featuring automated strategies for guaranteed earnings. Inspired by traditional finance‘s structured products, it seamlessly aligns with Nexo’s customer-centric approach and acclaimed Earn suite, as per the latest information shared with Finbold. Dual Investment is a focal point in the company’s commitment to catering to varied risk appetites and market exposure preferences. By combining Nexo’s yield-earning suite with its robust infrastructure, clients can act on their asset price projections at a future date and a price of their choosing.  This allows them to earn passive income, irrespective of the accuracy of their forecasts and market direction. Who can use Dual Investment? Cryptocurrency Chainlink price prediction as LINK sees largest whale activity in 2023 Cryptocurrency Machine learning algorithm pre...

ENS developer Nick Johnson deposited 200,000 ENS to Binance. The deposited amount was valued at $1.71 million at press time. Johnson holds 1,534,696 ENS and is the sixth-largest holder of ENS. A wallet associated with Nick Johnson, the lead developer of Ethereum Name Service (ENS), deposited 200,000 ENS to the Binance exchange on November 28, as reported by the on-chain Analysis platform, Lookonchain. A wallet related to @nicksdjohnson deposited 200K $ENS($1.71M) to #Binance again 10 hours ago. The wallet also deposited 200K $ENS($1.71M) to #Binance on Nov 20. The wallet currently holds 1,534,696 $ENS($13.15M) and is the 6th largest holder of $ENS.https://t.co/V1jGPgUdUc pic.twitter.com/y3xsPKMhzU — Lookonchain (@lookonchain) November 29, 2023 Lookonchain shared a post on X (formerly Twitter), revealing that Johnson deposited 200,000 ENS, valued at $1.71 million at press time, to Binance. The Analysis channel noted that this transaction is not th...

Legendary investor Charlie Munger may have once called Bitcoin “rat poison squared” — but that doesn't mean crypto traders should ignore his years of investing wisdom. Legendary investor and billionaire Charlie Munger, known as the right-hand man of Warren Buffet who helped build investment powerhouse Berkshire Hathaway, has passed away at 99 years of age. Munger’s family informed Berkshire “that he peacefully died this morning at a California hospital,” according to a company announcement on Nov. 28. Munger, who served as vice chairman at Buffet’s empire since 1978, accumulated a net worth of $2.6 billion and was routinely praised for adopting a sound investment and stock-picking philosophy throughout his tenure at Berkshire. While Bitcoin and crypto currencies weren’t favored investments for Munger and Buffet, who once referred to Bitcoin (BTC) as “rat poison” and “rat poison squared,” crypto traders could still benefit from Munger’s learn ings over his 60 years of investing e...

Mr. Huber called out Charles Hoskinson over previous statements where he disregarded XRP’s complaints against the SEC.  The analyst alleged that Hoskinson sided with the SEC then, hoping to get legal clarity on ADA.  Hoskinson said the allegations by Ripple against the SEC remain conspiracies unless proven otherwise. Cardano’s founder, Charles Hoskinson, is in the cryptocurrency spotlight again today after a reputed XRP community member, Mr. Huber, called out Hoskinson on his previous statements regarding Ripple’s complaints about corruption within the ranks of the U.S. Securities and Exchange Commission.   Indeed, Mr. Huber shared a compilation of videos where Hoskinson referred to the XRP community as conspirational. His comments followed complaints about the SEC’s attitude towards Ripple, along with allegations of the SEC favoring Ethereum.  “I’m sorry, @IOHK_Charles, but for two years you did everything you could to make the #XRPco...

Crypto trader Martin Folb believes the CFTC seeks information on subscriber behavior from Coinbase to “prove something” about the Bybit exchange. The crypto trader believes CFTC is going through Coinbase to gather Bybit users’ data. Folb noted that what the CFTC is doing through Coinbase is unconstitutional. Crypto trader Martin Folb, commonly known as MartyParty, shared that the Commodity Futures Trading Commission (CFTC) seeks information on subscriber behavior to “prove something” about the Bybit crypto exchange. He claimed that the regulator is going through Coinbase to gather users’ data that could support its case against Bybit, a non-U.S.-based crypto exchange. Update on @Bybit_Official situation: Appears all @Bybit_Official users have received an email re: The @CFTC case against @Bybit_Official "No action is required from you, but Coinbase may respond to the Subpoena unless served before November 30, 2023 with a motion to quash or… pic.twitter.c...

The ‘enterprise mainnet’ provides the scalability to add applications to a network that already has a KYC-compliant set of institutional banks, broker-dealers and asset managers. Executives of banking giants JPMorgan Chase and Apollo revealed plans for a tokenized ‘ enterprise mainnet ’ formed during a collaboration on the Monetary Authority of Singapore’s (MAS) Project Guardian pilot project.  On Nov. 15, the MAS introduced five additional industry pilots to Project Guardian to test various use cases around asset tokenization, which saw participation from 17 member financial institutions, including JPMorgan and Apollo. The duo collaborated to test digital assets for more seamless investment and management of discretionary portfolios and alternative assets, automated portfolio rebalancing and customization at scale. Members of the Project Guardian. Source: mas.gov.sg In a Forbes interview, Christine Moy, partner at Apollo Global Management, explained how production-grade tokenizatio...

Shiba Inu (SHIB) has had a tough year in 2023. Despite a significant layer-2 network launch, the asset’s price has struggled to gain momentum. SHIB has dipped 3.9% in the last seven days and 6.2% in the 14-day charts. Nonetheless, the token is up 7.2% over the previous month. Also read: Shiba Inu: How Much To Invest To Be a Millionaire if it Hits $0.001? Source: CoinGecko Shiba Inu (SHIB) Price Prediction for early December 2023 Source – Forbes According to the machine learning algorithm from PricePredictions, SHIB will hit a price of $0.00000891 on Dec. 5, 2023, a growth of about 7.22% from current levels. Furthermore, the platform expects SHIB to continue upward for most of December. According to PricePredictions’ Analysis , SHIB may lose a zero after its decimal in mid-December. Also Read: Shiba Inu: Here is When SHIB Could Rally 12,100% and hit $0.001? CoinCodex, on the other hand, expects Shiba Inu (SHIB) to drop to $0.00000718 by Dec. 8, 2023...

Bitcoin price has the potential to hit $50,000 in 2023 and $120,000 by the end of 2024, Standard Chartered Bank said. Analyst Geoff Kendrick attributes his optimistic forecasts to miners reducing their BTC sales with the Bitcoin halving scheduled for around April. Kendrick anticipates increased mining profitability as a result with miners thus needing to sell fewer tokens. That would mean reduced BTC supply, increased demand and thus a price surge. Bitcoin Price: Standard Chartered Revises April Forecast Kendrick’s prediction is a revision of his April forecast, when he said the Bitcoin price will hit $100,000 by 2024. After factoring in miner profitability, he acknowledges that the target was a short throw, and is now adding $20,000 to estimate. An increase to $120,000 would be a 225% climb from current levels. Kendrick estimates that almost 100% of all Bitcoin mined was sold in the second quarter. He sees miners reducing the number of mined BTC over time, as has happened ...

Tron has emerged as the preferred network for terrorist funding activity, according to a Reuters report. Between July 2021 and October 2023, the National Bureau for Counter Terror Financing froze 143 wallets. TRX was down 2.34% at press time and was changing hands at $0.1061. The Tron Network (TRON) has emerged as the go-to network for Iran-backed militant groups, including  Hamas, according to a Reuters report. Tron has overtaken Bitcoin (BTC) as a platform for transfers associated with groups designated as terror organizations by Israel, the U.S., and other countries, according to Reuters interviews with seven financial crimes experts and blockchain investigations specialists. “Earlier it was Bitcoin and now our data shows that these terrorist organizations tend to increasingly favor Tron,” said Mriganka Pattnaik, the CEO of New York-based blockchain Analysis firm Merkle Science. Pattnaik listed Tron’s superior trans action times, low fees, and...

Multi-chain crypto scam service Inferno Drainer has halted its service ‘for good and won’t return again.’ A multi-chain crypto currency scam service Inferno Drainer is going dark “for good” after stealing $80 million from victims. According to a Telegram post published on Nov. 26, 2023, the team has decided to shut down the service in an effort “to move on,” without going into details. The announcement noted that all Inferno-related files and servers will not be destroyed, so its customers could make a “smooth transition to the new service you’re going to choose.” “Inferno is closed for good and won’t return again.” The Inferno team You might also like: OpenSea users targeted in phishing scam disguised as official NFT offers Inferno Drainer was first spotted in March 2023, leaving thousands of investors without their crypto holdings. According to various estimations, Inferno launched over 9,...

Gold’s recent push to an all-time high price is “great news,” according to author Robert Kiyosaki, who once again urged investors to put their money in the precious metal as well as Bitcoin (BTC). The Bitcoin proponent and acclaimed author of the popular personal finance book “Rich Dad Poor Dad” took to social media, where he has a following of over 2.4 million, and name-dropped Bitcoin as a worthy investment pathway. Great News Gold reaches new high. Bad News: Workers and savers are losers. Bad News: been saying the same for 25- years. Don’t be a loser. Get out of FAKE money system. Get into gold, silver, Bitcoin now…. Before it’s too late. — Robert Kiyosaki (@theRealKiyosaki) November 26, 2023 Kiyosaki’s latest statement aligns with his previous remarks on prioritizing investment s in the leading cryptocurrency.  Recently, concerned by the potential impact of inflationary policies, the financial educator advised traders and investors to consider investing i...

New data reveals that hundreds of millions of dollars worth of altcoins have been drained from firms linked to Tron (TRX) founder Justin Sun. According to data from blockchain tracker Lookonchain, during the past 20 days, five major hacks have occurred, totaling $290 million worth of stolen funds. Two of the protocols hit – crypto exchange HTX and Heco Bridge, a bridge used to move funds between Ethereum (ETH) and energy-saving blockchain Heco Chain – are linked to Sun, the current owner of digital assets exchange Poloniex. According to cybersecurity firm Cyvers, the protocols were hacked to the tune of a combined $100 million – $86 million of which came from the Heco Bridge. “We have flagged multiple suspicious transactions from HECO Chain bridge today. All the assets of HECO Chain [have] been swapped for ETH and distributed to different EOAs (externally owned accounts). Assets transferred: 42 million USDT, 489 HBTC, 346 billion SHIB, 173,000 UNI, 619,000 USD...

The DAO previously proposed a lawsuit against Azuki creator Zagabond over a dilutive $39 million NFT minting that took place in June. Azuki DAO, an unofficial community decentralized autonomous organization surrounding the namesake nonfungible token collection, has announced its rebrand ing to “Bean" as it drops a proposed lawsuit against the NFT collection’s founder , Zagabond, over a $39 million minting affair.  In a statement sent to Cointelegraph, Azuki developers said the DAO will rebrand into a memecoin project and become part of the Ethereum layer-2 Blast ecosystem. Developers also claims that Bean has also secured $10 million from “prominent investors” for its development and acceleration within the Blast ecosystem. The proposed Bean memecoin will have a total supply of 1 billion. Forty percent of tokens are allocated to its treasury, 50% to Azuki DAO members, and 10% to Azuki NFT creator Zagabond. Minting is only available to Azuki NFT holders, who must do so within ...

The Grayscale Bitcoin Trust (GBTC) may see outflows of $2.7 billion if it is converted into a spot Bitcoin ETF (exchange-traded fund), potentially putting ”severe downward pressure” on the Bitcoin price, JPMorgan said. It says GBTC has attracted about $2.7 billion this year from investors attracted to it by its deep discount to net asset value and in anticipation of its conversion to a spot Bitcoin product. “Assuming this buying flow was mostly speculative in anticipation of GBTC being converted to an ETF, then it is likely that this $2.7b would come out of GBTC as these investors take profit once GBTC gets converted,” said analysts led by Nikolaos Panigirtzoglou. ”If this $2.7 billion exits completely the Bitcoin space then such an outflow would of course put severe downward pressure on Bitcoin prices.” ☕️ GM! Here are the top news in #Crypto for the past 24 hours 🟠 JPMorgan predicts Grayscale Bitcoin Trust (GBTC) could...

The news of firing and rehiring Sam Altman, CEO of OpenAI, the company behind the artificial intelligence (AI) program that created ChatGPT, caused shockwaves this last week, leading to surges and dips in both the stock market and the crypto currency world. Several crypto assets experienced notable gains in the period when the saga of Altman’s job status was unfolding, according to a post by CoinGecko on X on November 23. The crypto data platform noted that: “Akash Network (AKT) took the lead, soaring by 61.1% from $1.02 to $1.65 on Nov 23, 2023. It peaked at 80.4% on Nov 20, reaching $1.85.” Biggest gainers during Altman’s firing and rehiring by OpenAI. Source: CoinGecko Notably, on November 20, 2023, 9 out of 11 AI tokens experienced their peak, with gains ranging from 19.3% to 80.4%. This surge occurred shortly after Microsoft’s (NASDAQ: MSFT) announcement that Altman, Brockman, and their colleagues would be joining to spearhead a new AI research team. Biggest gainers...