Wash trading on nonfungible token (NFT) marketplaces is back in the spotlight after critics claimed the fast-growing NFT marketplace Blur has incentivized the practice with its trading rewards scheme....
Tag: wash
Biden’s Budget Proposal Includes Crackdown on Crypto Wash Sales and Doubling of Capital Gains Tax for Certain Investors
President Joe Biden’s upcoming budget proposal includes a few surprises for crypto traders and investors, as it seeks to raise around $24 billion through changes to crypto tax treatment. The pro...
President Biden’s 2024 Tax Plan to Target Crypto Wash Trading and Capital Gains
U.S. President Joe Biden released his official 2024 budget plan this Thursday – and cryptocurrency transactions are in its crosshairs. His many proposals include subjecting crypto to the same wash sa...
Biden Budget Plan proposes taxes to reduce crypto wash trades
U.S. President Joe Biden’s proposed budget will be released on March 9, including a stipulation for tax loss loopholes on crypto transactions. The budget blueprint will include a provision to reduce ...
Biden wants to double capital gains and clamp down on crypto wash sales: Reports
U.S. President Joe Biden’s upcoming budget proposal has a few surprises for crypto traders and investors, including a proposed doubling of capital gains and a crackdown on crypto wash sales. The Bide...
Powell Hearing To Wash Out Silvergate FUD?
Crypto News Today: After a relatively bullish first two months of the year 2023, the cryptocurrency market is currently exposed to FUD around the Silvergate crisis. Interestingly, the FUD around Silve...
How Much Wash Trading Is Really Happening on Blur?
Upstart marketplace Blur has risen to the top of the NFT world in recent weeks, vaulting ahead of longtime leader OpenSea through tokenized trading rewards. The cause of the surging trading volume has...
Blur Airdrop Evidently Benefited Wash Traders as per Data
11 hours ago | 2 mins read NFT News The top claimant of the BLUR airdrop received about 3.2 million BLUR tokens. The asset prices aren’t high enough to arouse suspicion. Some of the top traders in the...
Is NFT Wash Trading A Bad Sign For Investors?
The world of art has taken a new turn with the advent of Non-Fungible Tokens (NFTs). From Beeple’s “ The first 5000 Days “ selling for $69 million to Grimes’s “WarNymph” selling for $6 million –...
NFT wash trade accounts for 6.5% of daily sales volume on OpenSea
A wash trade of a dead NFT collection made up 6.5% of the daily sales volume on OpenSea yesterday morning. The purchase of the single NFT from the Crop Collection was transacted at 409 ETH valued at a...
Bankman-Fried’s Lavish Lifestyle Allegedly Revealed, Cuban Warns of Wash Trade Implosion, Experts Expect Soaring Gold Prices in 2023 — Week in Review – The Weekly Bitcoin News
More information has come to light allegedly revealing the lavish lifestyle of FTX co-founder and “altruist” Sam Bankman-Fried, as the failed former crypto exchange CEO also fights for Robinhood share...
Billionaire Mark Cuban Warns of Next Crypto Implosion Coming From Wash Trades – Featured Bitcoin News
Mark Cuban, a Shark Tank star and the owner of the NBA team Dallas Mavericks, has warned that the next crypto implosion could come from “the discovery and removal of wash trades” on centralized exchan...
Mark Cuban: Wash trading will lead to crypto’s next implosion in 2023
Mark Cuban believed that wash trading on centralized exchanges will lead to crypto’s next implosion. A report by the NBER found that as much as 80% of the trading volume on unregulated exchanges may b...
Mark Cuban names wash trade as 2023’s main crypto scam
Billionaire Mark Cuban says in 2023, fraud and scams will be on the rise. He expects the pump-and-dump scheme to prevail. In an interview with The Street, the billionaire founder of the Dallas Maveri...
MicroStrategy’s Bitcoin Wash Trade is Still Legal… For Now
The waning days of 2022 may be US crypto traders’ last chance to take advantage of a tax loophole that doesn’t exist in traditional finance: wash trading. At least if certain politicians have their wa...
MicroStrategy Opts For Bitcoin Wash Trading Loophole, Tax-Harvesting
As the deadline for tax-loss harvesting looms, MicroStrategy offloaded more than 700 bitcoins last week, selling the tokens at a loss with the expectation of lowering its tax bill in the future, accor...
70% of unregulated exchange transactions are wash trading: NBER study
With exchanges becoming a focus as the FTX fiasco continues, a new research paper suggested that almost three out of four transactions in unregulated exchanges are fake. A working paper titled “Crypt...
What is Wash Trading and How Does it Work?
Key takeaways: Wash trading refers to an illegal form of trading where a broker and trader collude and profit by providing the market with misleading information. Cryptocurrency exchanges and high-fre...
Nearly 60% of NFT Trading Volumes in 2022 Was Wash Trading: Report
A recent report published by blockchain analytics firm Dune revealed that nearly 60% of non-fungible token (NFT) trading volumes this year were wash trades. Wash trading is a form of market manipulati...
Over $30B of NFT Trading Volume on Ethereum is Wash Trading, Research Suggests
To understand how prevalent the practice has become since the NFT markets emerged, when all of the filters were applied, over $30 billion of NFT trading volume from all time could be linked to wash tr...
What is NFT Wash Trading? Examples of How it Works
Dec 2022, CoinGecko and Footprint Analytics Joint Report There is an underlying assumption that the entire NFT market is fraudulent in nature and only consists of wash traders. Unfortunately, we often...
7 Wash Sale Facts To Know Before Selling Stock For Tax Loss Harvesting
Watch out for wash sales of stock, which can mess up your tax planning. getty Are you bullish about the stock markets in 2023? If so, you may be looking at year-end strategies to prepare for brighter ...
CK Zheng Speculates FTX Is Last to Wash Out in This Stressful Crypto Winter
2 hours ago | 2 mins read Exchange News The Co-founder of a Hedge fund points to FTX’s decline. He says, “FTX will be the last to wipe out in this bearish market. Crypto winter is yet to wash away al...
Dodoor NFT Ranks Top on OpenSea, But Is It Wash Trading?
The Dodoor NFT projects rank first on OpenSea. What resulted in the top ranking for the project? Is it a wash trading? Dodoor NFT is the first collection of 1000 NFTs from the UDverse, which is a shel...
Wash Trading Dominates Bitcoin Volume, What Does This Mean For Price?
The daily bitcoin trading volumes come out into billions of dollars every day, with hundreds of thousands of daily transactions being carried out. It is one of the reasons why bitcoin draws the most i...
Thai SEC to Prosecute Bitkub and Four Others in Alleged Wash Trading Case
Thailand’s Securities and Exchange Commission (SEC) has accused Bitkub, the country’s largest cryptocurrency exchange, and four other offenders of their alleged involvement in wash trading. The indivi...
Thai SEC Sues Bitkub Crypto Exchange For Alleged Wash Trade
Thailand was the first in Southeast Asia to implement digital-assets regulations in 2018. The move attracted investors to cryptocurrencies. After that, however, the crypto industry started facing setb...
Thailand’s SEC sues 5 for wash trading activities
Thailand’s Securities and Exchange Commission (SEC) is suing five entities over wash trading activities on two crypto exchanges, Bitkub and Satang corporation. According to a Sept. 27 press release fr...
Soapy Joe’s car wash is using NFT to inflate demands
Soapy Joe’s clients have minted over 10,000 NFTs from almost 2,000 wallets. The company has also witnessed a 10% growth in membership since the beginning of publicity. In recent years, firms such as N...
Learfield And Zips Car Wash Announce First Multi-School, Co-Branded NIL Campaign
Zips will partner with multiple universities and college athletes through a sponsorship agreement … [+] with Learfield. Learfield A new multi-year sponsorship agreement by Zips Car Wash through ...