Coinbase users in the UK have been informed that their names must be given to tax authority HMRC if they cashed out more than £5,000 in fiat during the 2021 tax year.

This is not the first time Coinbase has warned its users of financial disclosures to HMRC. In January last year, an almost identical warning was posted for the 2019 and 2020 tax years.

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Sam Bankman-Fried’s Alameda Research may well have been one of the most important trading desks in all of crypto, but others such as HiveEx within the FTX cartel played important roles.

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The current market chaos in US banking, tech, and cryptocurrency is hard to summarize without using the common moniker FUD (fear, uncertainty, and doubt) in a very literal sense.

After the pandemic, the Federal Reserve raised interest rates in the US. Inflation went up; interest rates continued to rise. This flew in the face of years of enjoying low-to-no interest rates, first introduced with the goal of ensuring a stable economy.

However, cryptocurrency markets tumbled when FTX was identified as a fraudulent actor in November. Its main banking partner, Silvergate, served most prominent crypto firms — but when it began to experience a credit and liquidity crunch, depositors exited en masse and loan markets dried up.

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Christopher Emms, the British blockchain pioneer who is wanted by the FBI for allegedly breaking US sanctions on North Korea has reportedly been hired to provide crypto commentary by Russian state broadcaster RT.

Emms was accused of organizing a crypto conference in Pyongyang, North Korea in April 2019 at which he allegedly explained to his audience how blockchain could be used to evade US sanctions. Since settling in Moscow, one of Emms' first productions is a lecture on inflation wrapped with an invective against the West.

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Within weeks, Ethereum’s Shanghai update will begin the process of unlocking 17.5 million staked ether worth $28 billion. Unavailable for withdrawal and unable to be sold currently, this supply will be slowly reintroduced to public markets and affect Ethereum’s price.

Ethereum’s official website says Shanghai could go live during the first half of 2023. Some experts believe the upgrade could activate as early as US tax day: April 15.

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The New York Attorney General has alleged that TerraDollar, Luna, KuCoin Earn, and ether are securities in a lawsuit filed against KuCoin. A New York-based detective was able to create a KuCoin account, fund it with ether, trade for tethers, Luna, and TerraDollars, and take advantage of KuCoin’s Earn product all while in New York.

The NYAG alleges that these tokens, including ether, are securities under New York state’s Martin Act “because they represent investments of money in common enterprises with profits to be derived primarily from the efforts of others.” This standard is very similar to the Securities and Exchange Commission’s judicial Howey Test.

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The US Department of Justice (DoJ) has filed an appeal against a judge’s approval of a bankruptcy plan for Voyager Digital that includes Binance US buying billions of dollars in assets. 

The document was submitted early this morning by the DoJ’s bankruptcy component overseeing New York (US Trustee, Region 2) to the District Court for the Southern District of New York.

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The President of El Salvador has appointed pro-Tether Bitfinex investor, ICO promoter, and self-described Bitcoin Maximalist Max Keiser to a senior government position. According to an op-ed from local outlet El Faro, Keiser and his wife Stacy Herbert are displacing some responsibilities of El Salvador’s official Foreign Ministry.

He purposefully cultivates an outlandish, splashy, and disordered personal brand. Late-night TV host Trevor Noah described him as “Bitcoin Willy Wonka.”

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A gun lobbying association has urged people to protest a proposal to exclude crypto from the definition of ‘money,’ which they claim effectively criminalizes buying guns with digital currency.

Just last week, the state of South Dakota proposed legislation that would alter the definition of money within the Uniform Commercial Code, effectively excluding crypto from being considered ‘money.’

In response, the non-profit gun rights organization Gun Owners of America has urged firearms owners to protest what it sees as a threat to the country's Second Amendment.

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While no formal announcement has been issued, it looks like rock ‘n’ roll cover band Mars Junction, featuring the 41-year-old Winklevoss twins on lead vocals and guitar, is on indefinite hiatus.

The band, which began in mid-2021, has had a rough time of it since it last posted on Twitter in early November — the day before the complete collapse of FTX — advertising the opening of a merch shop.

Merch sales have not been disclosed.

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