Coinbase asks IRS for more time on cryptocurrency cost base reporting

In response to Bitcoin Magazine CEO David Bailey's suggestion that "Coinbase needs to build a proper bitcoin vault", Coinbase CEO Brian Armstrong responded: "We are increasing our bitcoin holdings every week."

On June 27th, according to DWF Labs partner Andrei Grachev's Twitter disclosure, they are about to launch a new product called Nex meta, which allows users to obtain fiat loans, mortgages or other required loan services with crypto assets as collateral. The main advantage of this service is that users can obtain funds without selling crypto assets, thus avoiding triggering tax events, while preserving the upside benefits from the growth of the crypto market.

Alex Chriss, chief executive of PayPal, said in an interview with Bloomberg TV on Thursday that the adoption of stablecoins in the US market still faces significant obstacles and will take a long time to materialize. Chriss explained: "From a consumer perspective, there is no real incentive to drive the adoption of stablecoins, which is why we are starting to launch products like rewards and starting to incentivize users in these ways."

According to a Bloomberg interview on Thursday with Lubin, founder and CEO of Ethereum software infrastructure provider Consensys, Lubin is considering bringing leverage to Sharplink Gaming Inc., which he chairs. Sharplink Gaming Inc. is a sports betting and gaming technology company that has recently been transformed into an Ethereum treasury company. "Sharplink has no debt at the moment," Mr. Lubin said, but added: "We may do something to bring some leverage to the company, possibly...

21:00-7:00 Keywords: Paypal, Ripple,: Cryptographic Structures Act 1. Federal Reserve Collins: It may be too early to cut interest rates in July. 2. Trump: If the Federal Reserve lowers interest rates, it will help. 3. PayPal CEO: Creating true stablecoin use cases for customers. 4. The judge has rejected Ripple and the SEC's application for a stay of appeal. 5. The US House of Representatives has passed a bill directing the Department of Commerce to promote blockchain technology. 6. Chairperson...

Federal Reserve Kashkari: The job market is still good and has not taken a sharp turn. Until we understand the situation of tariff-related inflation, we need to take a cautious pace. (Jin Ten)

Tether, the stablecoin issuer that holds more than 10 per cent of the club and is the second-largest shareholder after Exor, said it had formally asked in May to participate in a capital increase and apply for a board seat. Tether said that although the initial request was rejected, the club had proposed a new meeting date and the two sides were coordinating the timing. Tether's statement stressed its willingness to be "an active participant in the future development of Juventus" and its readine...

French President Emmanuel Macron said that we must use all available tools to deal with US tariffs. The best European Union-US tariff agreement would be zero-to-zero. Support a fast and fair European Union-US trade agreement. If US tariffs remain at 10%, Europe will have to impose corresponding compensatory tariffs on US industry.

Ripple enhances multi-chain interoperability by integrating XRP Ledger with Wormhole and its EVM-compatible sidechains. The integration allows crypto-assets, stablecoins, and tokenized RWAs to move seamlessly between more than 35 blockchain networks, including Ethereum, Solana, and Avalanche. "Interoperability is critical if you want real mass adoption," said David Schwartz, chief technology officer at Ripple.

For the second time, U.S. Judge Analisa Torres for the Southern District of New York rejected the SEC's request to settle with Ripple. The request would reduce the fine to $50 million and revoke the permanent injunction, but the judge found that Ripple could still violate the law again and the injunction must be maintained. District Judge Analisa Torres for the Southern District of New York said the key point was the proposed removal of the permanent injunction, not the $50 million civil penalty...

US President Trump: Those who oppose the tax reform bill are not good people. We hope Congress can pass the bill by July 4th.

U.S. Commerce Secretary Lutnik said the tax bill is expected to be passed in the next week or two weeks. Confident that a consensus will be reached on the SALT issue. Tariff plans will also not need to be adjusted if legislation changes. Multiple (trade) agreements will be announced in the next week or so. Europe is doing well after a slow start. I am becoming optimistic about a deal with the European Union and will finalize the deal. Close to a deal with India. July 9 will be the deadline to re...