Crypto Flipsider News – July 29th – Bitcoin, Israel, Binance, Uniswap, Bit Boy, Vitalik NFT animation by DailyCoin
Crypto Flipsider News – July 29th – Bitcoin, Israel, Binance, Uniswap, Bit Boy, Vitalik NFT Animation
- $ 2.5 billion worth of BTC to be replaced by crypto exchanges
- Congress and Israel Propose to Report Crypto Transactions and Crypto Taxes, Binance Introduces Tax Reporting Tool
- Uniswap information on partnerships with PayPal and Stripe
- Bitboy YouTube channel blocked due to crypto shilling
- Vitalik-featured NFT animation “Stoner Cats” increased gas charges
Institutional trust is back: $ 2.5 billion in BTC withdrawn from crypto exchanges
Almost $ 2.5 billion in bitcoins have been withdrawn from crypto exchanges. That’s over 63K bitcoins. The move shows the return of big bucks confidence in the biggest crypto.
Institutional investors have reduced or even sold their cash inflows into crypto since May as they failed to retest new highs and began to fall.
Bitcoin is around $ 40,000 at the time of publication. That’s nearly 30% growth since July 20, when the dominant crypto stopped falling. The price jump was mainly related to the positive context around BTC; Institutions buying BTC exposure through Grayscale, BTC integration with Twitter, Amazon (NASDAQ 🙂 BTC payment rumors and Bitcoin’s short squeeze.
- Whales are regaining their confidence, but no skeptical analysis. They say Bitcoin could sit in the $ 40,000 zone for a while as miners and traders take their winnings and cash out, inspired by the current price spike. Even skeptics do not neglect the possibility of a new rally.
Israel asks to report transactions over US $ 61,000, US Congress wants the same, Binance introduces tax reporting tool
- The US Congress can get $ 28 billion from crypto investors by imposing new information requirements on exchanges and other parties. The draft language could mean that many people interacting with crypto may need to start reporting their transactions. Israel has also released a bill forcing crypto investors to report holdings over $ 61,000 to tax authorities.
- Meanwhile, the Binance crypto exchange is adapting by launching a tax reporting tool that allows its users to share their transaction history with a third party and get an overview of their tax liabilities.
- “Catch me if you can” should be a new slogan of some crypto exchanges. While legislative proposals look great on paper, we are waiting to see if the government plans succeed in reality.
Uniswap suggested possible partnerships with PayPal and Stripe and then changed his mind
A recent video posted on the internet seems to suggest that Uniswap is looking to expand its operations and enter the mainstream.
During a recent speech at the Community Conference, Ashleigh Schap, Uniswap’s growth director, mentioned that the company is talking to PayPal, Stripe and other well-known fintech brands to introduce DeFi to more potential users.
The prospective relationship between Uniswap and incumbent fintech companies could bring more diversity to consumers and meet the existing demand for cryptocurrencies.
PayPal could benefit from the alliance as it was recently put to the test because of its decision to link up with the ADL.
- Uniswap should remain vigilant when choosing intermediaries as it would undermine its competitive advantage in the eyes of the DeFi crowd if it went to bed with the wrong organization. In addition, the video was deleted from YouTube at the request of Uniswap. It appears that management decided the announcement was released too early.
Bit Boy Fighting To Stay On Youtube – Cash Me Outside, How Bow Dah?
- Bit Boy, aka Ben Armstrong, has been banned from YouTube. However, it is still unclear whether Ben has been temporarily suspended or banned indefinitely; he still has the option to appeal YouTube’s decision to block his channel.
- Bit Boy himself shared the news on Twitter for more support: “Tonight @TeamYouTube deleted my YouTube channel. The censorship and unfair crackdown on #crypto went too far. “He continued,” If you want to watch YouTube, give me my channel back so we can share education and news with you, let @teamyoutube know. ”
- That said, Bit Boy has some confidence in describing his channel as “educational”.
URGENT: Like & Retweet NOW! Tonight @TeamYouTube deleted my YouTube channel. The censorship and the unfair crackdown on #crypto have gone too far. If you want to watch YouTube, give me my channel back so we can share education and news with you, let @teamyoutube know. pic.twitter.com/zH0XoPdSFu
– Ben Armstrong (@Bitboy_Crypto) July 29, 2021
- Schiller was kicked in the nuts. On the other hand, we live in a “break-off” culture that is sometimes too unforgiving.
NFT animation “Stoner Cats” presented by Vitalik increases gas charges
The story of Stoner Cats and Vitalik Buterin is still very popular in the media. Whether a well-prepared advertising campaign or a coincidence of events, the founder of Ethereum appears in the Digest for the third time in a row.
On the other hand, the news isn’t that bullish this time around. Although Mila Kunis’ animation NFTs sold out in just half an hour and grossed around $ 8 million in total, they caused some trouble for the creators. In fact, gas charges went from $ 9.50 to $ 33 right after they sold out. This overwhelmed the network and caused some transactions to fail.
- I would like to raise the question of whether Vitalik cares about its popularity or Ethereum users. But let’s wait a few more years for the ETH 2.0 update
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