Kraken Daily Market Report for June 10 2021

Overview Total spot trading volume at $1.37 billion, the 30-day average is $2.75 billion. Total futures notional at $470.1 million. The top five traded coins were, respectively, Bitcoin (-1.9%), Tether (0%), Ethereum (-5.4%), Cardano (-5.8%), and Dogecoin (-5.1%). Most coins were negative against USD; Keep, however, was up 27%. June 10, 2021  $1.37B traded across all markets today Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD  BTC $36678. ↓1.9% $582.9M USDT $1.0004 ↓0.01% $243.7M ETH $2470.5 ↓5.4% $239.3M […]

Bitcoin Mining Council Launches Mission Statement, Seeks Members

The Bitcoin Mining Council, initially set up by influential CEOs Michael Saylor and Elon Musk, has formally debuted and seeks members. The Bitcoin Mining Council (BMC), a group of bitcoin miners from around the globe, has formally launched and is now open for membership applications. The council’s website is live and shares details about its […]

Why Bitcoin, Not S***coin

Why bitcoin is not only the best investment of our time, and the only good “crypto,” but the only moral, economic and philosophically sound place to store your wealth. Hint: Beyond Bitcoin, it’s ALL shitcoin. I often get asked about “which crypto” is a good one to invest in. Of course, my answer is always […]

Are blockchain projects really so bad for the environment?

Part of the recent dramatic fall in the cryptocurrency markets could certainly be attributed to the environmental concerns raised by the likes of Elon Musk and others as to the viability of blockchain projects that are contributing to large carbon footprints. However, the blockchain space is full of innovation and some projects have leveraged this […]

Texas state-chartered banks will now be able to provide virtual currency custody services to their clients

The Texas department of banking has outlined in a notice that Texas state-chartered banks will now be able to provide virtual currency custody services to their clients. The notice, issued on June 10th, required banks to maintain efficient protocols in place and maintain a strong service provider oversight program that addresses risk. State-chartered banks in […]

More IRS crypto reporting, more danger

The U.S. authorities are becoming seriously interested in crypto, making unreported crypto more dangerous. The United States Internal Revenue Service classifies crypto as property, meaning you can trigger taxes every time you use crypto to buy something. You might be using it to pay for a Tesla electric vehicle — oh, sorry, that’s not possible […]