IRS Updates Crypto-Related Instructions for 2022 Tax Filing

The Internal Revenue Service (IRS) has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins,” the tax agency detailed. New IRS Instructions for Tax Form 1040 The Internal Revenue Service (IRS) released its 2022 draft …

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Nokia Believes the Metaverse Will Replace Smartphones in the Future

Nokia, one of the first companies to manufacture a consumer-grade mobile phone system, now believes the metaverse will cause phones to become deprecated. These metaverse experiences will be powered by the use of virtual reality (VR) headsets and augmented reality glasses, and will allow users to interact in several activities. Industrial usage will also be …

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Polygon-Based Decentralized Exchange Quickswap Loses $220K in Flash Loan Exploit

On Monday, the Polygon-based decentralized exchange (dex) Quickswap lost $220K in a flash loan exploit and following the attack, the team detailed the Quickswap Lend platform will be terminated. Quickswap Hacked for $220K, Dex Project Sunsets Lending Platform 2022 has been quite the year for decentralized finance (defi) hacks as billions have been stolen due …

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Bitcoin’s Rising Correlation With Gold Indicates Investors See It as a Safe-Haven, Says Bank of America Market Strategists

Amid the economic uncertainty affecting a myriad of countries worldwide, Bank of America Securities market strategists explained in a note this week that the leading crypto asset bitcoin has been correlated with the well known precious metal gold. Bank of America analysts Alkesh Shah and Andrew Moss noted “that investors may view bitcoin as a …

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How A Bug Temporarily Brought Down One Implementation Of The Lightning Network

One developer brought down LND nodes with a massive multisignature transaction, causing issues across the Lightning Network for a short period of time. Watch This Episode On YouTube Or Rumble Listen To The Episode Here: Apple Spotify Google Libsyn In this episode of “Bitcoin, Explained,” hosts Aaron van Wirdum and Sjors Provoost discuss a recent …

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Chinese Intelligence Officers Bribe FBI Agent With $61,000 In BTC

Chinese intelligence officials allegedly bribed a double-agent with the FBI to steal information related to an active criminal investigation against a global company. Two intelligence officers from the People’s Republic of China (PRC) attempted to bribe a U.S. intelligence agent with $61,000 in bitcoin, per a release from the Justice Department. “Today’s complaint underscores the …

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