The Block
Bitcoin rose over 4% in the past 24 hours to briefly surpass $68,000 amid a surge in short liquidations.The ETC Group’s Cryptoasset Sentiment Index has shifted from bearish to neutral, reflecting a decrease in selling pressure.
Quick Take The Italian tax authority plans to raise capital gains tax on bitcoin to 42% as part of 2025 budget plans. Crypto capital gains in Italy have been taxed above €2,000 at 26% from the 2023 tax year.
Quick Take Democratic Senator Elizabeth Warren, famous for her campaign pledge to build an “anti-crypto army,” claimed her opponent would be beholden to the crypto industry that has backed him in the race. Questioning why the Senator was so focused on crypto, Republican challenger John Deaton said, “I wish Senator Warren would attack inflation the way she attacks crypto.”
Quick Take Local police arrested 27 suspects during a special operation dubbed “Secret Word” and seized over HK$200,000 ($25,742) in cash during an onsite raid. The fraud group allegedly lured victims into investing in cryptocurrencies, defrauding them of at least HK$360 million ($46.3 million).
Quick Take Cosmos co-founder Jae Kwon said a significant part of the network’s liquid staking module was developed by North Korean agents, which proceeded under the alleged negligence of Iqlusion’s Zaki Manian. Kwon called for the Cosmos governance community to immediately conduct a comprehensive audit of the LSM.
The Tokyo-listed firm has executed a roll-up transaction of its bitcoin put options, updating the strike price to $66,000 from $62,000.Metaplanet bought an additional 106.976 bitcoin worth about 1 billion yen ($6.7 million) on Tuesday, bringing its total holdings to 855.478 BTC, or about $57.4 million.
Quick Take The former U.S. president’s odds of winning on Polymarket rose to 57.9%, compared to Harris’ 41.8%, as of late night Tuesday. The Polymarket bet on the November election winner has amassed over $1.92 billion in volume so far.
The DeFi protocol has sold about 610 million tokens since the public sale began earlier Tuesday morning.The World Liberty Financial website dealt with multiple slowdowns after the sale went live.
Quick Take Elon Musk’s Tesla has moved over $770 million worth of bitcoin to new addresses, possibly in preparation to sell more of its holdings.
Quick Take Grayscale Investments has filed to convert its mixed-crypto fund containing bitcoin, ether, solana, XRP and AVAX into an ETF.
