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August 22, 2022
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August 25, 2023
IRS To Crypto Exchanges: ‘We’re Just Here for a Quick Audit… And Maybe Your Lunch Money.'”
The US Treasury Department and IRS are pushing for stricter reporting rules on cryptocurrency exchanges. The aim? To bridge the gaping digital asset tax chasm. 🌉
The proposed regulations, set to kick off in 2026, are part of the Biden administration’s broader strategy to clamp down on potential tax dodgers in the crypto realm. Remember the 2021 rules aimed at curbing tax evasion? Those were projected to boost tax revenues by a cool $28 billion over a decade.
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September 18, 2023
Mark Cuban’s $900k Wallet Woe
Mark Cuban recently faced a significant crypto setback. An unexpected breach in his hot wallet led to a loss of around $900,000. 😲
The anomaly was first spotted by blockchain investigator Wazz, who noticed unusual activity in a previously dormant Cuban wallet. Within a short 10-minute span, assets like $USDC, $USDT, and Lido Staked $ETH were rapidly withdrawn.