Episode Details

30th Oct: Crypto & Coffee at 8
🚨Kraken to share data with Internal Revenue Service 🚀Bitcoin Difficulty Mining🚀 Criminal charges against Binance and Tether.to?🔥 Changpeng Zhao wealth is down 92% 🔻

🚨Kraken Digital Asset Exchange has announced that it will share data on tens of thousands of its users with the Internal Revenue Service (IRS) in compliance with a court order. The information to be shared includes cryptocurrency transactions above $20,000 made by Kraken customers between 2016 and 2020, along with personal details such as name, date of birth, Tax ID, address, and contact information. More info via Decrypt here https://lnkd.in/dBQdxWJg

❗ In June, a federal judge ordered Kraken to share such information with the IRS, after a two-year legal battle between the privacy-minded crypto company and the federal government over data sharing. Per legal filings in that case, 42,017 Kraken accounts are set to be impacted by the ruling.

⛏️ Bitcoin miners are gearing up for their fourth consecutive difficulty rise set to unfold today ie 30th Oct Bitcoin.com article states, the previous three difficulty increases did not deter Bitcoin’s hashrate, which reached an all-time high on October 12, 2023. What’s particularly noteworthy is that recent block times have consistently been shorter than the traditional ten-minute average. Article here https://lnkd.in/dJJu-CF3

🚀 On October 12, based on a simple moving seven-day average, Bitcoin’s hashrate reached an unprecedented 456 exahash per second (EH/s), marking an epoch-making milestone.

🎙️ Check out Blockchain DXB Crypto & Coffee at 8 podcasts we share our commentary on this!

❗ Lawmakers Concerned About Binance and Tether
🔴 U.S. Senator Cynthia Lummis (R-WY) and U.S. Representative French Hill (R-AR) have jointly urged the U.S. Department of Justice to investigate Binance and Tether.to. They allege that these cryptocurrency platforms might have been used to fund Hamas and have a history of enabling illegal activities. The lawmakers call on the DOJ to consider potential criminal charges, emphasizing the need for a thorough assessment of whether these platforms violate sanctions laws and the Bank Secrecy Act. Info via Bitcoin.com here https://lnkd.in/dZyJFYeE

❌ Old Article by The Wall Street Journal here ttps://tinyurl.com/3s5ubkym
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