10 seconds ago | 2 mins read Exchange News Binance said it will halt USDC conversion to USD over the weekend. Circle said that Silicon Valley Bank still has $3.3 billion underpinning USDC. The two lea...
Tag: Conversions
SVB closure spurs a crypto crisis: Coinbase and Binance suspend USDC conversions
Just a day after covering Silicon Valley Bank stock (NASDAQ: SIVB) 60% dip after it announced it was raising funds to cover a loss it made after selling securities at a loss, the SVB closure is causin...
Coinbase Pauses Conversions Between USDC and US Dollars as Banking Crisis Roils Crypto
While temporary, the pause speaks to the chaos that’s roiled the crypto industry’s second-largest stablecoin in the wake of Silicon Valley Bank’s demise. All day Friday crypto trader...
Here’s how to report Roth IRA conversions on your taxes
If you made a Roth individual retirement account conversion in 2022, you may have a more complicated tax return this season, experts say. The strategy, which transfers pretax or non-deductible IRA fu...
How Many Roth Conversions Per Year Does the IRS Allow?
SmartAsset: How Many Roth Conversions Can You Make Per Year? A Roth Individual Retirement Account (IRA) can offer tax benefits in the form of tax-free withdrawals in retirement. If you have a traditio...
Circle Reveals FTX Exposure, Says USDC Conversions on Binance Have Hurt Projections
The collapse of FTX and automatic conversions of USD Coin on Binance will cause Circle’s performance to be “materially lower” than the projections it made in February, the company said in a new regula...
Circle’s USDC issuance falls 3 billion from Binance stablecoin conversions
Circle, the company behind the issuance of USDC Coin (USDC), said recent events have caused it to miscalculate its financial projections — referring to the collapse of FTX and a decision by rival exch...
Stablecoin Markets Shift as Binance Begins USDC Conversions
Binance conversions of Circle’s USDC, Paxos’s Pax Dollar, and TrueUSD to the exchange’s own stablecoin, Binance USD, have begun. And the effects on the stablecoin market are already being ...
CryptoAltum trading platform allows crypto conversions with zero fees
CryptoAltum, the trading platform built by forex professionals, has launched its new CryptoConvert tool that will make converting one crypto into another completely feeless. Many crypto exchanges have...
Opinion: Roth IRA conversions: Take advantage of this limited-time offer to save on taxes
No one likes taxes, but everyone loves a sale. So the idea of a major blowout on Roth conversions in 2023 — a limited time offer, no less — might make it enticing to pay taxes now to avoid them in the...