03 Feb 2023

Logan Paul Faces ‘Rug Pull’ Class-Action Lawsuit Over CryptoZoo NFTs

Famed internet personality Logan Paul and NFT project CryptoZoo have been accused of engaging in a “rug pull” in a new class-action lawsuit. Announced in September 2021, CryptoZoo was marketed as an NFT-based game and billed as “an autonomous ecosystem” that would enable virtual ZooKeepers to buy, sell, and trade exotic

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03 Feb 2023

Cryptocurrency scams bilk $4 million from locals

The FBI is warning about cryptocurrency scams that have siphoned millions from unsuspecting victims, including in Colorado. Cryptocurrency investment scammers are increasingly targeting mature adults and especially involve Tether and USD Coin, according to the FBI. The bureau described how the scams typically play out. “In a common scenario, the

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02 Feb 2023

Cryptocurrency and state legislation: the current state of crypto state taxes in 2023

Questions regarding the taxation of cryptocurrency (crypto) can be complicated. Although the IRS addresses crypto transactions for federal income tax purposes, many states have not yet provided any income tax or sales and use tax guidance. Before diving into how states currently treat the taxation of cryptocurrency transactions, here’s a

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31 Jan 2023

After a tough year for crypto, here’s how to handle losses on your tax return

After a tough year for crypto, you may be looking for ways to turn steep losses into possible tax breaks. The digital currency industry lost nearly $1.4 trillion in 2022 after a slew of bankruptcies and liquidity issues, including the collapse of digital currency exchange FTX. Before filing your tax

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24 Jan 2023

SEC Scrutiny Blocks Some Crypto Firms From Going Public

Crypto companies seeking to go public over the past year have faced increased scrutiny from the Securities and Exchange Commission, as financial distress and failures spread across the volatile industry. Crypto-focused companies including Bullish Global, Circle Internet Financial and eToro Group Ltd. have failed to secure the SEC approvals that are

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17 Jan 2023

3 Reasons Why Crypto Could Explode When Key US Economic Data Lands on Wednesday

This week, several critical pieces of economic data will be released, raising anticipation for the Federal Reserve’s interest rate policies. And these releases could spell the start of some significant gains in cryptocurrency prices. This week, investors and analysts will be looking forward to the release of the Producer Price Index

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13 Jan 2023

North Korea’s Cryptocurrency Craze and its Impact on U.S. Policy

In 2022 alone, North Korea, or the Democratic People’s Republic of Korea (DPRK), has reportedly stolen over $1 billion in cryptocurrency from organizations in the cryptocurrency sector via one of its primary hacking outfits—Lazarus Group. This is up from $400 million in 2021, and these heists account for a third

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12 Jan 2023

Analysis: Bankman-Fried fraud charges sidestep debate over how U.S. law sees crypto

Sam Bankman-Fried may find it hard to argue the fraud charges against him should be tossed because of uncertainty as to how U.S. law treats cryptocurrency, as other high-profile defendants in criminal cases involving digital assets have done. That is because Manhattan federal prosecutors’ charges against the founder of now-bankrupt crypto

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10 Jan 2023

What You Need to Know About the Federal Probe Into Binance

Binance’s proximity to its collapsed competitor FTX has given federal prosecutors reason to seek new information in their 4-year-old investigation into the world’s largest crypto exchange. Over the past few months, U.S. attorneys in Seattle have been asking financial firms to hand over records of communication with Binance, according to a

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09 Jan 2023

Wyre Announces Withdrawal Limits as Crypto Firm Navigates Crypto Winter

Wyre, a San Francisco-based crypto payments firm, is implementing withdrawal limits for user accounts, citing “the best interest of our community.” “We are modifying our withdrawal policy. While customers will continue to be able to withdraw their funds, at this time, we are limiting withdrawals to no more than 90%

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