POKKET: Crypto Market Update (Aug 14)
Bitcoin is up +7% to $47.7k, ETH is leading +10% to $3300. Movers are GTO +38%, DENT +36%, LINA +21%, LRC +18%, SNX +17%, CRV +16%, AUDIO MATIC +15%, MKR POND +14%, rest follow upward, no standouts on the downside.
Positive momentum possibly created by news the Biden administration reportedly has no interest in applying the Senate Infrastructure Bill’s definition of “broker” to miners, validators and devs. Bloomberg news cites an unnamed official saying the Treasury Department, which oversees the IRS and FinCEN, is gearing up to offer guidance that won’t require 3rd-parties who aren’t asset brokers to follow the new crypto tax rules. This doesn’t mean it won’t happen in the future; just there is no immediate interests in doing so.
Intel has disclosed it holds about $800k in Coinbase stock.
London’s High Court has ordered Binance to help identify and freeze accounts involved in a $2.6M hack, after Fetch.ai filed the request.
Polygon, a layer 2 platform on top of ETH, is merging with rollup platform Hermez in a $250M merger deal to create the ‘Polygon Hermez’ ecosystem.
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