Austria’s victory highlights their resurgence on the global stage, while Jordan’s debut marks a significant milestone in their football journey. The post Austria tops Jordan 1-0 in World Cup group stage match appeared first on Crypto Briefing.
Robinhood (NASDAQ: HOOD) is reducing its workforce by approximately 290 employees, representing about 10% of its full-time staff, as the company restructures its organization to improve efficiency and increase talent density. The move comes despite strong financial performance and record trading activity across its platform. According to CEO Vlad Tenev, the decision is part of […]
Bitcoin remained largely unchanged on Wednesday as investors shifted their attention toward altcoins, signaling a broader capital rotation across the cryptocurrency market. While the leading cryptocurrency traded near $65,800, down 0.3% over the past 24 hours, it still posted a strong 7.4% gain for the week, according to CoinDesk data. Traders appeared cautious ahead of […]
XRPs attempt to extend its rally above the $1.25 level was short-lived as strong selling pressure quickly erased gains and pushed the cryptocurrency back below $1.23. The move highlighted ongoing market uncertainty and the challenge of absorbing supply left behind from the recent correction. During the latest 24-hour trading session, XRP declined 3.3%, falling from […]
Illinois is going ahead with a 0.2% “privilege tax” on crypto transactions involving its residents under a new $55.9 billion state budget bill signed Tuesday.Governor JB Pritzker signed the measure despite opposition from crypto industry groups over the provision, a transaction tax that applies to all digital asset transactions on any registered platform under broadly termed “digital asset business activity.”“This will create an unprecedented tax regime that disproportionately burdens Illinois residents for simply using digital assets and will drive innovation and builders out of the state,” the Crypto Council for Innovation said, as it urged a “line-item veto” of Article 3 of Senate Bill 3019 on Tuesday.Illinois is home to several well-known crypto companies, including Zero Hash, Jump Crypto, Bitnomial, and Apex Crypto. The wide-reaching digital asset tax could also impact out-of-state companies if they have sufficient customer activity in the state, according to US tax firm BDO USA. The measure, which takes effect on Jan. 1, 2027, will also make Illinois the only state to tax digital asset users regardless of income, gains or profits, unlike traditional tax structures. Digital asset brokers operating in the state are also required to register and comply with new reporting obligations. Letter from the CCI to Governor JB Pritzker. Source: CCIAkin to taxing email rather than postThe CCI argued the tax would single out digital assets simply based on the technology used to process them. “Taxing a transaction based on the medium through which it happens to occur on a blockchain is akin to taxing correspondence because it is delivered by email rather than by post.”Related: Crypto tax proposals weighed ahead of Tuesday House hearingThey also said the timing is poor, since the industry is already adjusting to the federal Digital Assets and Consumer Protection Act (DACPA) and Congress is separately working on a national tax framework for crypto assets.The Digital Chamber sent a similar letter opposing the Digital Asset Privilege Tax Act on June 3 with similar arguments. “The tax will discourage the use of digital assets at the very time when financial services are moving to the blockchain, freezing Illinois residents out of progress and innovation and pushing the existing IL blockchain and crypto companies out of the state,” it read. Crypto is being singled outMiles Jennings, head of policy and general counsel for a16z Crypto, said on X on Wednesday that it was one of the most anti-crypto laws in the US.“There is effectively no comparable state financial transaction tax on stocks, bonds or derivatives anywhere in the country,” he said. “That means crypto is being singled out in violation of several federal laws.”“Rather than embracing innovation and the cost efficiencies blockchains can deliver for ordinary people in Illinois, the state is poised to punish its entrepreneurs and citizens that want to use crypto.”The crypto tax, which was bundled with registration and compliance requirements, is one piece of a much larger package built to close a budget gap. The bill is expected to raise more than $800 million in new tax revenue to support Pritzker’s $55.9 billion budget for fiscal 2027. Magazine: China’s 107 Bitcoin memory thief, Bithumb CEO booked: Asia Express
Zuckerberg’s AI hackathon proposal highlights Meta’s struggle to balance innovation with employee morale amid recent layoffs and restructuring. The post Mark Zuckerberg proposes AI hackathon at Meta amid employee pushback appeared first on Crypto Briefing.
Amazon’s investment in Physical AI could revolutionize industries by enhancing real-world decision-making and optimizing supply chain operations. The post Amazon backs AI startup developing models to simulate the physical world appeared first on Crypto Briefing.
Messi’s influence highlights the volatile nature of crypto markets, where celebrity endorsements can drive dramatic, yet unstable, price shifts. The post Messi’s World Cup masterclass is already moving crypto markets appeared first on Crypto Briefing.
The ECB’s rate hike highlights persistent inflation risks, impacting global markets and investment strategies amid ongoing energy challenges. The post ECB officials warn peace in Iran won’t resolve energy shock appeared first on Crypto Briefing.
Elon Musk has officially become bigger than Bitcoin. His personal net worth reached an unprecedented $1.4 trillion, surpassing the entire Bitcoin market cap for the first time after a massive single-day jump fueled by the SpaceX (SPCX) rally. Here is what triggered this historic milestone: the role of SpaceX’s blockbuster IPO and the widening wealth […]
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