22 hours ago
BREAKING: White House Rejects Cryptocurrency Transaction Tax Proposal
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
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
1 day ago
JUST IN: Sam Bankman-Fried's plan if he got caught lmao.
"Go on Tucker Carlson, come out as a Republican"
https://bitrr.io/thread/10...
#SamBankman -Fried
"Go on Tucker Carlson, come out as a Republican"
https://bitrr.io/thread/10...
#SamBankman -Fried
4 days ago
Berachain Co-Founder Reflects on Early Investment Decisions 🔥
The journey to success is never a straight path, and Berachain’s co-founder knows this all too well! 🏆🚀
In a recent reflection, they opened up about the crucial investment decisions that helped shape the future of Berachain. From early bets on blockchain innovation to navigating market uncertainties, every choice played a role in creating the high-performance, EVM-compatible L1 that Berachain is today. 🐻🔗
💡 Key Takeaways from Their Reflection:
✅ Taking calculated risks in unproven markets 💰🎯
✅ Staying true to the vision despite market fluctuations 📈🔥
✅ Building a strong community and ecosystem 👥🤝
✅ Learning from mistakes and adapting quickly 🏃♂️💨
With Berachain’s unique proof-of-liquidity model driving innovation in DeFi, it’s clear that those early investment decisions set the stage for something revolutionary. 🌍🔮 Looking back, the co-founder’s insights remind us that bold moves and unwavering belief can lead to massive breakthroughs!
What do you think? 🤔 Would you have made the same early bets? Share your thoughts below! ⬇️🐻💬
#Berachain #cryptoinvestment
The journey to success is never a straight path, and Berachain’s co-founder knows this all too well! 🏆🚀
In a recent reflection, they opened up about the crucial investment decisions that helped shape the future of Berachain. From early bets on blockchain innovation to navigating market uncertainties, every choice played a role in creating the high-performance, EVM-compatible L1 that Berachain is today. 🐻🔗
💡 Key Takeaways from Their Reflection:
✅ Taking calculated risks in unproven markets 💰🎯
✅ Staying true to the vision despite market fluctuations 📈🔥
✅ Building a strong community and ecosystem 👥🤝
✅ Learning from mistakes and adapting quickly 🏃♂️💨
With Berachain’s unique proof-of-liquidity model driving innovation in DeFi, it’s clear that those early investment decisions set the stage for something revolutionary. 🌍🔮 Looking back, the co-founder’s insights remind us that bold moves and unwavering belief can lead to massive breakthroughs!
What do you think? 🤔 Would you have made the same early bets? Share your thoughts below! ⬇️🐻💬
#Berachain #cryptoinvestment
9 days ago
Ethereum Spot ETF Experiences Significant Net Outflow of $41.82 Million.
On the same day, the Grayscale #ethereum Trust ETF (ETHE) saw a single-day net outflow of $11.66 million, bringing its historical net outflow to $4.075 billion. Meanwhile, the #Grayscale Ethereum Mini Trust ETF reported no net #outflow , maintaining a historical total net inflow of $605 million. As of the latest update, the total net asset value of Ethereum spot ETFs stands at $8.063 billion, with an ETF net asset ratio of 3.02% relative to Ethereum's total market capitalization. The historical cumulative net #inflow has reached $2.819 billion.
On the same day, the Grayscale #ethereum Trust ETF (ETHE) saw a single-day net outflow of $11.66 million, bringing its historical net outflow to $4.075 billion. Meanwhile, the #Grayscale Ethereum Mini Trust ETF reported no net #outflow , maintaining a historical total net inflow of $605 million. As of the latest update, the total net asset value of Ethereum spot ETFs stands at $8.063 billion, with an ETF net asset ratio of 3.02% relative to Ethereum's total market capitalization. The historical cumulative net #inflow has reached $2.819 billion.
19 days ago
A new crypto cycle meme is born:
“I didn’t promote it, I shared it.” – Javier Milei on $Libra
It joins the Hall of fame:
• "What” – SBF, moments before FTX imploded
•“Steady lads, deploying more capital.” – Do Kwon, before LUNA went to zero… and he went to jail
•“Celsius is winning.” – Alex Mashinsky, before Celsius collapsed… and he got sued
•“We are the biggest victims.” – 3AC founders, now unable to visit certain countries
•“I’m rich and you’re not.” – Richard Heart, now on the run
Same playbook, different cycle.
Stay humble, study #bitcoin
“I didn’t promote it, I shared it.” – Javier Milei on $Libra
It joins the Hall of fame:
• "What” – SBF, moments before FTX imploded
•“Steady lads, deploying more capital.” – Do Kwon, before LUNA went to zero… and he went to jail
•“Celsius is winning.” – Alex Mashinsky, before Celsius collapsed… and he got sued
•“We are the biggest victims.” – 3AC founders, now unable to visit certain countries
•“I’m rich and you’re not.” – Richard Heart, now on the run
Same playbook, different cycle.
Stay humble, study #bitcoin
3 months ago
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- Complete daily tasks, move up the leaderboard and earn even more! 🎉🎉
- Thousands of radio stations, 20 genres, 26 countries!.There's something for everyone!🌍✨
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8 months ago
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