Crypto News
Russia Too! Russian State Duma Deputy Proposes Creating a Strategic Bitcoin Reserve
Russian State Duma Deputy Anton Tkachev directed a letter to the Ministry of Finance to consider creating a strategic bitcoin reserve akin to the one that exists for traditional currencies. Tkachev highlighted that bitcoin could serve both as a store of value and as an opportunity to reap profits. Russian State Duma Deputy Opens StrategicSource link
Trader Turns $2.5K Into $200K by Buying XRP With 500X Leverage
A trader turned $2,500 into $200,000 by buying XRP futures with 500x leverage on cryptocurrency exchange Rollbit on Tuesday.XRP jumped by 26% during U.S. trading hours after Ripple Labs, the company behind XRP, received “final” regulatory approval to offer the RLUSD stablecoin in the U.S.The savvy trader opened a position worth $2,560 when XRP was trading at $1.9025 and the amount of leverage meant that the position would have been liquidated if price slumped below $1.9004. The position was closed gradually between $2.13 and $2.29, netting a realized return of around 7,500%.XRP is trading at $2.34 as it continues to outperform the wider market. It is up by 301% in the past 30-days, TradingView data shows.It's worth noting that trading...
HKMA Warns Against Fraudulent Banking Websites Linked to Nanyang Commercial Bank
The Hong Kong Monetary Authority alerts the public to fraudulent websites impersonating Nanyang Commercial Bank, urging caution in sharing personal information online. (Read More)Source link
Italy Set to Scale Back Planned Tax Hike on Crypto Capital Gains: Reuters
Italy is set to trim its planned tax increase on crypto capital gains, Reuters reported on Tuesday.Two months ago, the government was intent on raising the tax to 42% from 26% by the end of December. "The tax increase will be significantly reduced during the parliamentary work," lawmakers Giulio Centemero and Federico Freni, a junior minister at the Treasury, said in a statement according to Reuters.The decision to increase the capital gains tax was inspired by the rising popularity of investments in crypto, especially bitcoin, which climbed above $100,000 last week. The “phenomenon is spreading," Deputy Finance Minister Maurizio Leo told Bloomberg in October after announcing the news.CoinDesk reached out to Centemero and Freni for a comment.Source link
BitMEX Launches MEUSDT Perpetual Swaps with Up to 50x Leverage
BitMEX has introduced the MEUSDT perpetual swap, allowing users to trade the Magic Eden token with leverage up to 50x. The listing started on December 11, 2024. (Read More)Source link