DeFi protocol Threshold proposes Bitcoin wrapper merger to ‘save WBTC’

August 30, 2024 Coin Telegraph

BiT Global

The proposal would effectively transfer control of WBTC to Threshold.

Bitcoin (BTC) decentralized finance (DeFi) protocol Threshold is proposing to merge its own BTC “wrapper” token, tBTC, into Wrapped Bitcoin (WBTC) in a bid to “save WBTC” following concerns about an impending change in control of the popular BTC wrapper, according to an Aug. 29 proposal in Threshold’s governance forum.

On Aug. 9, BitGo — the cryptocurrency custodian holding the Bitcoin backing WBTC — announced a planned partnership with BiT Global, a Hong Kong-based crypto exchange. Per the partnership, which aims to diversify WBTC’s United States-centric footprint, BiT Global is expected to gain partial control of the multisignature wallet custodying WBTC’s Bitcoin backing.

“This announcement has proven controversial due to the involvement of Justin Sun, with many in the ecosystem, expressing concern over his ‘affiliated projects show worrying signs of possible misappropriation’ of collateral,” Threshold’s proposal said.

Bitcoin to hit ‘repeated all-time highs’ over next 2 quarters: VanEck

Two Under-the-Radar Altcoins Continue To Skyrocket This Week Amid Official Coinbase Trading Rollout

January 27, 2023 The Daily Hodl

Altcoins

Top US-based crypto exchange Coinbase is rolling out official trading support for two red-hot altcoins, sparking further rallies. Coinbase customers can now trade security-focused decentralized finance (DeFi) crypto Threshold (T) and decentralized music project Audius (AUDIO). The exchange added both the under-the-radar assets to its listing roadmap earlier this week, also spurring huge price gains […]

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Bitcoin to hit ‘repeated all-time highs’ over next 2 quarters: VanEck

US Government Delays Tax Reporting Rules for Cryptocurrency Brokers

December 25, 2022 Bitcoin.com

bitcoin.com

The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S. Congress in 2021, were to be imposed in 2023. Crypto Brokers Told to Comply With […]

Bitcoin to hit ‘repeated all-time highs’ over next 2 quarters: VanEck

Bank of Japan’s Kuroda Shocks Markets by Raising the Benchmark Rate to 0.5% From 0.25%

December 20, 2022 Bitcoin.com

0.25%

The Japanese yen is up 3.42% against the U.S. dollar on Tuesday as the Bank of Japan surprised the world by deciding to allow the benchmark interest rate to rise to 0.5% from 0.25%. The Japanese central bank was one of the only banks worldwide to hold off on raising benchmark interest rates, as policymakers […]

Bitcoin to hit ‘repeated all-time highs’ over next 2 quarters: VanEck

Swiss Financial Watchdog Releases Revised AML Ordinance, Clarifies Crypto Requirements

November 4, 2022 Bitcoin.com

AML

The Swiss financial regulator has published its updated anti-money laundering (AML) ordinance, noting it’s extending the coverage to include blockchain trading platforms. It also clarified certain reporting and identification requirements that apply to crypto transactions. Financial Authorities Adjust Swiss Anti-Money Laundering Rules Concerning Crypto Transfers Following consultations that started earlier this year, the Swiss Financial […]

Bitcoin to hit ‘repeated all-time highs’ over next 2 quarters: VanEck

Main Opposition Candidate for President of South Korea Pledges Support for Crypto Tax Exemptions

January 20, 2022 Bitcoin.com

bitcoin.com

The leading presidential candidate of the opposition in South Korea has promised voters to ease the tax burden on crypto-related profits through exemptions. In a recent statement, Yoon Suk-yeol indicated that crypto investors will be treated like those who put money into stocks. Presidential Candidate Looks to Attract Young Voters With Crypto Tax Cuts Yoon […]

Bitcoin to hit ‘repeated all-time highs’ over next 2 quarters: VanEck

Analyst Claims Bitcoin Will Break $40K Threshold, S2F Audit Shows BTC Could Tackle $85K by Year’s End

June 14, 2021 Bitcoin.com

Analyst Claims Bitcoin Will Break K Threshold, S2F Audit Shows BTC Could Tackle K by Year’s End

$40k

Bitcoin prices have been range-bound and consolidating for quite some time but jumped over 9% in the last 24 hours after Elon Musk’s tweet on Sunday. A number of crypto analysts are still unsure about bitcoin’s future price while a few expect a rebound from last month’s lows. One market report notes that bitcoin will […]

Bitcoin to hit ‘repeated all-time highs’ over next 2 quarters: VanEck

Brazilians Who Held $1,000 in Crypto Last Year Must Report It on Tax Returns by End of May

May 30, 2021 Bitcoin.com

Brazilians Who Held ,000 in Crypto Last Year Must Report It on Tax Returns by End of May

bitcoin.com

Taxpayers in Brazil have only a couple of days left to file their annual tax returns. Investors who had more than 5,000 reals worth of cryptocurrency in 2020, a little less than $1,000, are obliged to report the funds on their income tax declarations this year. Brazilians who fail to do that on time face […]

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