The Block
Quick Take Understanding crypto taxes means distinguishing between taxable events, like selling or trading crypto, and non-taxable ones, like holding or gifting — strategic planning is key as tax authority scrutiny intensifies.
Quick Take Coinbase has surged back into the U.S. Apple App Store top 10, jumping from a rank of 435th the day before the U.S. election. Decentralized predictions platform Polymarket currently shows 87% odds that the crypto exchange will be in the top 10 position on Friday.
Quick Take Caldera has acquired Hook for an undisclosed sum after recently raising $15 million in a Series A funding round. Caldera and Hook will collaborate to build Metalayer, an Ethereum rollup infrastructure platform.
Quick Take The Royal Government of Bhutan deposited another 365 BTC ($33.3 million) to Binance on Thursday, according to the onchain analytics platform Arkham. The latest transfer follows the $66 million worth of bitcoin Bhutan deposited to the exchange in October.
Quick Take SEC Chair Gary Gensler’s comments come after president-elect Donald Trump won the U.S. presidential election last week. Gensler also made a few comments on Thursday about working at the SEC.
Ryan Miller, OSL’s managing director, said Hong Kong crypto ETFs are expected to see “substantial growth” in volume and inflows.Macroeconomic factors and local regulatory initiatives are playing in favor of the spot ETFs, Miller told The Block.
Quick Take The launch of options on spot bitcoin ETFs marks a major milestone for crypto derivatives, with significant trading volumes signaling increased institutional engagement. Options on spot bitcoin ETFs could ease bitcoin price volatility by increasing market liquidity — though early conditions suggest continued high volatility as the product goes through price discovery, an analyst said.
Quick Take Folks Finance has raised $3.2 million in a Series A funding round. The round brought Folks Finance’s equity and token FDV to $75 million, Folks Finance co-founder and CEO Benedetto Biondi told The Block.
Bitcoin’s rally since the U.S. presidential election has prompted some large miners to take profits, CryptoQuant analysts said.However, the analysts believe bitcoin still remains undervalued — suggesting room for further price growth.
