Cryptocurrency Analysis and News Portal
LooksRare made its debut on Jan.10 and the recently launched NFT marketplace has drawn a lot of attention, not only because its daily trade volumes were more than double Opensea’s on the second day of trading, but also because it has become the new playground for wash traders.Wash trading is
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A committee of the U.S. House of Representatives has proposed to subject cryptocurrencies to the “wash sale” rule. Since cryptocurrencies are treated as property by the Internal Revenue Service (IRS), they are currently not subject to the wash sale rule. This proposal attempts to close down a big crypto tax
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Democrats in the U.S. House of Representatives have proposed tax initiatives to fund a $3.5 trillion spending package which could potentially affect crypto users. According to a document released by the House Committee on Ways and Means on Monday, the proposal would increase the tax rate on long-term capital gains from
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New research has shed more light on the crypto industry’s largest-ever token sale, alleging that foul play may have been afoot during EOS’s initial coin offering (ICO) four years ago.Researchers from the University of Texas have raised fresh concerns regarding Block.one’s record $4.362 billion ICO for the EOS blockchain in
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Summary:The CFTC has ordered Coinbase to pay $6.5 million for ‘false, misleading or inaccurate reporting and wash trading’Coinbase is also ordered to cease and desist from any further violations of the Commodity Exchange actThe accusations center on trading activities on Coinbase between January 2015 and September 2018The Commodity Futures Trading
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South Korea's third largest crypto exchange, has reportedly been seized by police over allegations it faked most of its trading volume. Source
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When Bitwise Asset Management declared in a March 2019 presentation to the United States Securities and Exchange Commission that 95% of the Bitcoin (BTC) trading volume being reported globally on cryptocurrency exchanges was “fake,” it jolted rating firms, exchanges and the larger crypto world. Data analytics firms recalibrated their exchange
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Decentralized exchanges are generally liked for their transparency and lack of custody, reducing the trust requirements in their operators.Many centralized exchanges have been caught in a peculiar type of manipulation used to inflate their trading volumes. This was first highlighted by the Bitwise Report released in March 2019, which analyzed
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Canadian regulator Ontario Securities Commission (OSC) has accused embattled exchange Coinsquare of market manipulation and misleading clients about trading volumes.The OSC alleged Coinsquare, which has been accused of wash-trading and reports of a hack, had “engaged in conduct contrary to Ontario security laws.” The regulator also named founder Virgile Rostand,
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In the latest blow to the embattled Canadian cryptocurrency exchange Coinsquare, reports are accusing the platform’s top executive of orchestrating a wash-trading scheme in clear violation of securities law.Wash-trading refers to an exchange artificially inflating its trade volume through executing larger zero-fee market trades into their own orders, creating the
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