4C Newsflash of August 26

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Market Cap at 2:29 (UTC) – $267,984,787,801 billion

Bitcoin dominance: 68.9%

BTC $10,319 (+1.34%)

ETH $189.35 (-0.40%)

XRP $0.270034 (-0.74%)

IRS sent out the second tax warning for crypto investors

IRS has sent out a new wave of tax letters to US citizens who invested in crypto. The new letters asked the taxpayers to remind and sincerely report their transactions. Additionally, IRS also believes that the exchange maybe at fault as well, thus making incorrect number.

Binance to launch lending platform

Binance will soon launch Binance Lending, allowing crypto holders to earn passive income. Per the update, BNB, USDT and ETC will be the first assets which can be used to earn interest and holders can earn 7-15% depends on what coins they choose. The maturity date is 14 days and the interest will be paid right after the period. However, holders will have to race against each other as the service will use first-come-first-serve method.

Libra continues facing skepticism form US Congress member

Maxine Waters, the Chairwoman of the House Financial Services Committee has recently finished her trip to Swiss. According to the statement, Maxine appreciates the effort of Swiss legislators in explaining various perspectives of Facebook’s plan including the status, complexity and magnitude. Moreover, the Chairwoman remains concerned as in many issues such as money laundering and privately controlled global currency, etc.

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4C Newsflash of August 26

Market Cap at 2:29 (UTC) – $267,984,787,801 billion

IRS sent out the second tax warning for crypto investors

Binance to launch lending platform

Libra continues facing skepticism form US Congress member

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