TL;DR Breakdown The crypto community has shown concern about the newly proposed crypto tax rule. Prominent industry figures fear the impact on innovation and growth. Description The recent announcement of new crypto tax reporting rules by U.S. President Joe Biden has triggered strong criticism from several well-known voices in the crypto community. The Internal Revenue Service (IRS) proposed on August 25 that brokers adhere to stricter guidelines for the sale and trade of digital assets. This move, aimed at curbing tax … Read more The recent announcement of new crypto tax reporting rules by U.S. President Joe Biden has triggered strong criticism from several well-known voices in the crypto community. The Internal Revenue Service (IRS) proposed on August 25 that brokers adhere to stricter guidelines for the sale and trade of digital assets. This move, aimed at curbing tax evasion, would involve the introduction of a new form to simplify tax filings and deter fraudulent activities. Critics warn of the impact on the industry in the US According to the U.S. Department of the Treasury, the intent behind these proposed…

TL;DR Breakdown A federal judge has agreed to hear the defense arguments of Sam Bankman-Fried, former CEO of FTX, against a late release of 4 million pages of evidence by the U.S. Department of Justice. The defense team has raised concerns about the timing of this evidence release, arguing it could hinder their client’s ability to prepare adequately for his trial scheduled for October 3, 2023. Description A federal judge agreed to hear the defense arguments of Sam Bankman-Fried, the former CEO of FTX, against a newly released batch of 4 million pages of evidence. The evidence was provided by the U.S. Department of Justice less than six weeks before Bankman-Fried’s trial, which is scheduled for October 3, 2023. The defense team … Read more A federal judge agreed to hear the defense arguments of Sam Bankman-Fried, the former CEO of FTX, against a newly released batch of 4 million pages of evidence. The evidence was provided by the U.S. Department of Justice less than six weeks before Bankman-Fried’s trial, which is scheduled for October 3, 2023. The defense team…

TL;DR Breakdown OnlyFans retains £1 for every £4 earned by creators, leading to significant earnings for many, with one creator revealing a £4 million income. OnlyFans star, Eliza Rose Watson, faced criticism for billboard ads deemed inappropriate by some, but the UK advertising regulator found the imagery non-objectifying. Description In a year marked by unprecedented growth for online adult content platforms, OnlyFans, the British adult content subscription service, has emerged as a dominant force. The company’s revenues surpassed the $1 billion mark for the first time in 2022, reflecting a significant surge in demand for its services. Predominantly focused on pornographic material, the platform … Read more In a year marked by unprecedented growth for online adult content platforms, OnlyFans, the British adult content subscription service, has emerged as a dominant force. The company’s revenues surpassed the $1 billion mark for the first time in 2022, reflecting a significant surge in demand for its services. Predominantly focused on pornographic material, the platform has seen an influx of both content creators and subscribers. Contents hide 1 Surge in popularity: OnlyFans’ billion-dollar…

TL;DR Breakdown Paolo Ardoino shares an image of Tether’s Bitcoin mining site, confirming its location in South America but withholding specific details for security reasons. Tether is developing a mining software named Moria to provide comprehensive data analytics on energy production at Bitcoin mining sites Description In the ever-evolving world of cryptocurrency, Tether, a prominent stablecoin issuer, has recently been at the center of attention. The company’s Chief Technology Officer, Paolo Ardoino, has been in the spotlight, addressing rumors and speculations about the company’s Bitcoin mining operations. Amidst the swirling rumors, Ardoino took to X (formerly known as Twitter) to shed … Read more In the ever-evolving world of cryptocurrency, Tether, a prominent stablecoin issuer, has recently been at the center of attention. The company’s Chief Technology Officer, Paolo Ardoino, has been in the spotlight, addressing rumors and speculations about the company’s Bitcoin mining operations. Amidst the swirling rumors, Ardoino took to X (formerly known as Twitter) to shed light on the matter, sparking even more curiosity and debate among crypto enthusiasts and skeptics alike. Contents hide 1 Mysterious photos…

TL;DR Breakdown Antonio Juliano, founder of dYdX, suggests crypto builders should stop serving U.S. customers for 5-10 years due to regulatory challenges. Industry leaders are divided on the issue, with some like Coinbase CEO Brian Armstrong optimistic about quicker regulatory clarity. Description Antonio Juliano, the founder of decentralized exchange dYdX, has sparked a heated debate by suggesting that crypto builders should forgo serving U.S. customers for the next 5 to 10 years. In a thread on X, formerly known as Twitter, Juliano argued that the U.S. market presents too many regulatory hurdles for crypto startups, advising them … Read more Antonio Juliano, the founder of decentralized exchange dYdX, has sparked a heated debate by suggesting that crypto builders should forgo serving U.S. customers for the next 5 to 10 years. In a thread on X, formerly known as Twitter, Juliano argued that the U.S. market presents too many regulatory hurdles for crypto startups, advising them to focus on overseas markets for faster growth and user adoption. [Serious tweet / hot take 🌶️] Crypto builders should just give up serving US…

TL;DR Breakdown Skip Protocol’s new software, The Block SDK, allows Cosmos block builders to segment blocks into distinct “lanes” with unique functions, addressing vulnerabilities like transaction frontrunning. The SDK enhances the mempool layer, enabling transactions to be placed in specific lanes, and promotes the potential of app chains by allowing them to tailor block space to their needs. Description In a groundbreaking move, blockchain infrastructure provider Skip Protocol has introduced a novel software development kit (SDK) that promises to revolutionize the way blocks are constructed on the Cosmos platform. Dubbed “The Block SDK,” this toolkit is set to offer block builders unprecedented modular control over transaction sequencing. This comes as a response to the … Read more In a groundbreaking move, blockchain infrastructure provider Skip Protocol has introduced a novel software development kit (SDK) that promises to revolutionize the way blocks are constructed on the Cosmos platform. Dubbed “The Block SDK,” this toolkit is set to offer block builders unprecedented modular control over transaction sequencing. This comes as a response to the limitations of the conventional block construction method, CometBFT,…

Description The recent BRICS summit, hosted by South Africa’s Cyril Ramaphosa, witnessed a significant transformation as the emerging-markets bloc decided to more than double its membership. While the formal host of the event was Ramaphosa, it was the Chinese President Xi Jinping who truly commanded the spotlight. With an air of special treatment and distinct honor, … Read more The recent BRICS summit, hosted by South Africa’s Cyril Ramaphosa, witnessed a significant transformation as the emerging-markets bloc decided to more than double its membership. While the formal host of the event was Ramaphosa, it was the Chinese President Xi Jinping who truly commanded the spotlight. With an air of special treatment and distinct honor, Xi Jinping’s presence resonated throughout the summit, demonstrating China’s growing influence on the global stage. An Unprecedented Welcome: Xi Jinping’s South African Sojourn From the moment Xi Jinping arrived for the summit, it was evident that he was accorded exceptional attention. The Chinese leader’s early arrival earned him a state visit privilege, including the induction into South Africa’s distinguished ‘Order of South Africa’. This reception, a…

Description China’s plans to reshape the global power dynamic were starkly evident when they spearheaded the expansion of the BRICS bloc. With six new nations – Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates – the newly-expanded BRICS now boasts of an unprecedented scale and impact, challenging the long-held dominance of Western coalitions. … Read more China’s plans to reshape the global power dynamic were starkly evident when they spearheaded the expansion of the BRICS bloc. With six new nations – Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates – the newly-expanded BRICS now boasts of an unprecedented scale and impact, challenging the long-held dominance of Western coalitions. The Changing Landscape of Economic Powerhouses No longer content to be overshadowed by institutions that give preferential treatment to the Western world, China’s strategic move sends a clear message. The G7, with its elite group of Canada, France, Germany, Italy, Japan, the UK, and the US, has long held the reins of global economic power. However, their collective influence, which comprises 9.8% of the world’s populace…

TL;DR Breakdown BRICS has expanded to include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE. The revamped BRICS now covers 47% of the global population and 37% of its GDP. This expansion poses a significant challenge to the influence of the G7. Beijing aims to use this enlarged bloc to reform major international institutions. Description If the tides of global influence were already shifting, the expansion of the BRICS alliance just might have initiated a tsunami. The revamped BRICS, which once encapsulated Brazil, Russia, India, China, and South Africa, now boasts an added muscle with the inclusion of nations like Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab … Read more If the tides of global influence were already shifting, the expansion of the BRICS alliance just might have initiated a tsunami. The revamped BRICS, which once encapsulated Brazil, Russia, India, China, and South Africa, now boasts an added muscle with the inclusion of nations like Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. This bold move doesn’t just suggest a change; it’s a…

Description Jerome Powell, the enigmatic chair of the Federal Reserve, once again proves he’s a mastermind at keeping bond traders on their toes. With a series of strategic maneuvers, Powell has set the stage for an unpredictable dance with the bond market that’s keeping every trader in suspense. A Game of Strategy Amid Uncertainties The central … Read more Jerome Powell, the enigmatic chair of the Federal Reserve, once again proves he’s a mastermind at keeping bond traders on their toes. With a series of strategic maneuvers, Powell has set the stage for an unpredictable dance with the bond market that’s keeping every trader in suspense. A Game of Strategy Amid Uncertainties The central bank is in a powerful position, with Powell at its helm, making the bond market uncertain about its next move. Such a setup benefits the Fed by allowing them to tweak policy based on unfolding economic metrics, ensuring no abrupt disturbances in the vast fixed-income arena. During a recent address in Wyoming, Powell subtly hinted at the Federal Reserve’s readiness to tighten its reins to curb…