Crypto News
US House Will Consider Repeal of ‘Burdensome’ IRS Crypto Tax Rule
House lawmakers advanced a resolution in committee that aims to prevent the IRS from imposing tax reporting requirements on DeFi projects.Source link
Bitcoin Struggles Below $85K as ETFs Outflows Reach Record High
The price of bitcoin (BTC) dropped south of $84,000 as spot bitcoin exchange-traded funds (ETFs) posted record outflows. As of 2:30 p.m. (ET), the leading crypto asset is hanging below the $85,000 range at $84,378. ETF Exodus Weighs on Bitcoin, Price Slips Below $88K Bitcoin fell to a 3-month low over the last day, andSource link
Bitcoin ETFs Just Had Their Worst Day Ever
Bitcoin ETFs are shedding assets as crypto prices plummet amid a looming trade war and other macroeconomic uncertainty.Source link
U.S. Appeals Court (Mostly) Affirms 2023 Ruling Tossing Out Uniswap Class Action Suit
The U.S. Court of Appeals for the Second Circuit issued a ruling on Wednesday largely agreeing with a lower court’s 2023 decision to toss out a class action suit against decentralized exchange Uniswap.A group of investors originally sued Uniswap Labs, the company behind the decentralized protocol of the same name, and some of its venture capital investors in 2022, alleging that the company was responsible for harming investors by allowing scam tokens to be issued on its protocol.District Court Judge Katherine Polk Failla of the Southern District of New York (SDNY) sided with Uniswap in 2023 and scrapped the suit before it went to trial, likening the plaintiffs’ arguments to “a suit attempting to hold an application like Venmo or...
‘AI Gaming Will Be Massive’: Elon Musk Shares Game Created With Grok, ChatGPT
A novice developer managed to create a flight simulator from scratch via AI tools like Grok, ChatGPT, and Cursor—and Elon Musk loves it.Source link