David Sacks, the White House crypto and AI czar, has rejected the idea of taxing every cryptocurrency transaction to strengthen the U.S. strategic Bitcoin reserve and digital asset holdings.
On a recent episode of the All In podcast, host Jason Calacanis proposed a 0.01% tax on each crypto transaction, to be paid in the asset being transferred, purchased, or sold.
Sacks expressed doubts, pointing out that taxes often begin small but tend to grow over time. He cited the U.S. income tax, which started with a limited scope but later expanded to affect far more people.
Sacks voiced concerns about the potential strain of new taxes, even if they’re initially presented as minor. Crypto investors also criticized the idea, especially the prospect of taxing transfers between wallets owned by the same person.
The White House Crypto Summit held recently didn’t delve into specific tax proposals, though the Trump administration has signaled interest in broad federal tax reform.
President Donald Trump has floated the idea of abolishing the federal income tax, favoring tariffs on imported goods as a revenue source instead. He highlighted the 19th century, when tariffs alone funded the U.S. government, as a time of notable economic success. U.S. Commerce Secretary Howard Lutnick backed this plan, proposing to replace the Internal Revenue Service (IRS) with an 'External Revenue Service.'
#cryptocurrency #Tax #Cryptotax #WhiteHouse #bitcoinreserve
Blockchain card game #Cardex announced via X that it has distributed 94.85 ETH, approximately $215,000, to users affected by a recent security breach. The company also stated its intention to collaborate with law enforcement agencies to recover the stolen funds.
Previously, a related entity, attributed the security incident to a vulnerability in the third-party application Cardex, resulting in a loss of around $400,000.
#Securitybreach #cryptobreach #Blockchain #ETH #crypto
The 0x Protocol is a decentralized exchange (DEX) infrastructure that enables the peer-to-peer trading of cryptocurrencies and tokens on the Ethereum blockchain and other Ethereum-compatible networks.
Developed by 0x Labs, 0x Protocol uses smart contracts to execute trades, offering a low-cost and secure alternative to traditional centralized exchanges.
How does 0x protocol work?
- Order creation: A user creates an order specifying the token they want to trade, the amount, and their price requirements.
- Order relay: The order is shared off-chain via relayers or directly with a counterparty.
- Order matching: A relayer matches the order with a suitable counterparty or provides an order book for users to select from.
- On-chain settlement: Once both parties agree on the trade, the order is executed on-chain using the 0x smart contracts, ensuring security and transparency.
Use cases of #0xprotocol
- Decentralized Exchanges (DEXs): Enables the creation of DEX platforms with custom features and order books.
- DeFi applications: Integrated into lending, borrowing, and other DeFi platforms to facilitate token swaps.
- NFT marketplaces: Supports ERC-721 tokens, enabling decentralized trading of non-fungible assets.
0x token (ZRX)
- Governance: ZRX holders vote on protocol upgrades and governance decisions, contributing to 0x’s decentralized development.
- Staking: ZRX can be staked to earn rewards, particularly from trading fees generated on the network.
- Utility: Used to pay fees for services provided by relayers within the 0x ecosystem.
#cryptolearn
According to CoinDesk, Swiss National Bank (SNB) President Martin Schlegel has dismissed the idea of incorporating bitcoin into Switzerland's central bank reserves. Schlegel highlighted concerns over the cryptocurrency's volatility, liquidity, and security as primary reasons for this decision. In an interview with the Tamedia group, he emphasized that the instability of #cryptocurrencies makes them unsuitable for preserving long-term value.
Schlegel further explained that the central bank's reserves must remain highly liquid to be readily available for monetary policy interventions. He also pointed out the inherent security risks associated with software-based assets, noting that software can be prone to bugs and vulnerabilities. These remarks come amid a broader discussion in Switzerland regarding the potential inclusion of Bitcoin in the SNB's reserves.
A recent initiative, spearheaded by entrepreneur Yves Bennaim, is advocating for a constitutional amendment that would require the SNB to hold bitcoin alongside gold in its reserves. This initiative, launched in December, aims to gather 100,000 signatures within 18 months to prompt a nationwide vote on the matter. While the proposal does not specify the exact bitcoin allocations, it suggests that the reserves should be built from the bank's earnings.
Despite the increasing acceptance of cryptocurrencies in Switzerland, with several Swiss banks offering cryptocurrency-related services, Schlegel remains skeptical.
Solana (SOL) and Cardano (ADA) were unstoppable forces in 2021, but a new token is displacing them this cycle. At the time of writing, Cardano and Solana are both having difficulty returning to their previous highs, with Cardano trading at $0.60 and Solana at $131.10. With more than 3,400 investors and more than $1.8 million already secured, MUTM is currently in phase 2 of its presale. Investors have a unique opportunity to enter the market before the price spikes 33.33% to $0.02 in phase 3. In a few months, Mutuum Finance should hit $3, offering investors a whopping 200x return.
#Cardano and #solana : Can They Reclaim Their Former Glory?
Two of the most well-known cryptocurrency companies in 2021 were Cardano (ADA) and Solana (SOL), which saw enormous bull runs and hit all-time highs. Both are still having difficulty recovering as of right now. Solana is presently trading at $131.10, still well below its all-time high of around $258, while Cardano is trading at $0.60, a long cry from its $3 peak. Both projects have seen fierce competition and market changes as a result of the overall market slump, despite their ongoing growth and robust communities. Consequently, in search of more profits, investors are turning to Mutuum Finance.
The SEC stated that it does not intend to pursue enforcement action against the company. This decision comes after Consensys received a Wells Notice from the SEC in April, indicating that the regulator was considering legal action against the company for potential securities violations related to its MetaMask Swaps and Staking services.
The investigation's closure is a significant development for Consensys and provides clarity for the regulatory status of #ethereum .
#Consensys #SEC
It's an AI security protocol for autonomous vulnerability detection and self-healing smart contracts.
With backing from giants like
GoogleStartups, msft4startups & ForbesWeb3
It's certainly one to take note of 👇
https://www.mexc.com/excha...
#Veritas #VPT #AltcoinNews

SEC Drops Investigation Into Uniswap, Will Not File Enforcement Action
Uniswap celebrated the news on X, calling it a “huge win for DeFi.”
https://www.coindesk.com/policy/2025/02/25/sec-drops-investigation-into-uniswap-will-not-file-enforcement-action🚨Fidelity Sells 3920 Bitcoin - Largest sell-off since ETFs launched
#bitcoin #BTC #sell #bearmarket #blackrock #fidelity #ETF
Bybit, the Singapore-based centralized crypto exchange, appears to have been hacked. Early estimates suggest the exchange has lost over $1 billion worth of ETH and significant quantities of other tokens, though the investigation is ongoing.
"Bybit ETH multisig cold wallet just made a transfer to our warm wallet about 1 hr ago. It appears that this specific transaction was musked, all the signers saw the musked UI which showed the correct address and the URL was from Safe. However the signing message was to change the smart contract logic of our ETH cold wallet,"
Bybit co-founder and CEO Ben Zhou posted to X. "This resulted Hacker took control of the specific ETH cold wallet we signed and transferred all ETH in the cold wallet to this unidentified address. Please rest assured that all other cold wallets are secure. All withdraws are NORMAL."
On Tuesday, the exchange announced it would be performing scheduled maintenance on its live server today stretching into tomorrow, which caused controversy as security researchers looked into the suspicious transactions.
The attacker then moved the majority of the funds to a second address, 0xa4b2, which swaps funds using decentralized exchanges, including Uniswap, Paraswap, and KyberSwap.
ByBit says its other hot and cold wallets are unaffected, and only their ETH wallets were impacted. "Bybit is Solvent even if this hack loss is not recovered, all of client assets are 1 to 1 backed, we can cover the loss," Zhou also post
Fraudsters trick users into believing their wallets are compromised, leading victims to transfer their funds to the fraudsters' wallets. The money vanishes, leaving victims with regret and a harsh lesson in digital security.
Never share your private information!
#crypto #cryptocurrency
Deutsche Bank's DekaBank has recently obtained a #cryptocurrency custody license from Germany's financial regulator, BaFin, and the European Central Bank (ECB). BaFin has issued a total of 11 cryptocurrency custody licenses, primarily to cryptocurrency companies.
Source-https://www.sec.gov/ix?doc...
Why Invest in Solana?
Solana is a high-performance blockchain known for its speed, scalability, and low transaction costs. Its unique proof-of-history (PoH) consensus allows it to process up to 65,000 transactions per second, making it ideal for decentralized finance (DeFi), NFTs, and Web3 applications. Solana boasts a strong developer ecosystem, growing adoption, and innovative projects, making it a promising choice for long-term investors seeking exposure to cutting-edge blockchain technology.
Coinbase is a secure online platform for buying, selling, transferring, and storing cryptocurrency (crypto). Our mission is to create an open financial system for the world and to be the leading global brand for helping people convert crypto into and out of their local currency. We make buying and selling crypto easy.
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When users complete a task, they collect the reward and progress to the next subsection. As they advance, the difficulty of tasks and the value of rewards increase. Progressing through a subsection requires keys, with each key unlocking one part of the continent. Keys regenerate at varying rates depending on the continent, for example, users may receive 1 free key per hour in the first continent.
Users also have the option to renew tasks and rewards if they are not satisfied with the random selection. Each continent provides a set number of free renewals, and additional keys or renew options can be purchased in the marketplace to accelerate progress

Miningram | AI based crypto asset management
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Today the launch of a new tapal from the OKX Exchange officially started
We are the very first to enter the project, join us!
OKX Racer - in the game you need to guess where the Bitcoin rate will go in
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Crypto Exchange Bankruptcy Protection:
When a crypto exchange goes bankrupt, it must cover legal fees and debts during bankruptcy proceedings. As a result, your crypto holdings may not be entirely safe in such situations1.
Q2 2024 Trends:
The second quarter of 2024 saw significant activity in meme coins, Real World Assets (RWA), and Artificial Intelligence (AI) within the crypto market2.
BlockDAG’s Impact:
BlockDAG, with its impressive $60 million presale and technological advancements, has been making waves in the crypto market. Meanwhile, AVAX faced a downturn, and Kaspa showed growth prospects3.
Remember to stay informed and make informed decisions in the ever-evolving crypto landscape! 🚀🌟