The Block
Quick Take FTX lawyers are asking the IRS to show how it calculated what it says is $24 billion of unpaid taxes. The IRS first said FTX owed $44 billion but recently lowered the amount to $24 billion.
Avalanche’s AVAX token has rallied over 6% in the past 24 hours, despite a day of volatility across the broader cryptocurrency market.Over $500 million in bitcoin and major altcoin leveraged positions were liquidated in the past 24 hours.
Quick Take Solana Labs co-founder Anatoly Yakovenko and Helius Labs co-founder Mert Mumtaz unpack some of the reasons why they believe Solana has an edge over other blockchains.
Bitcoin is experiencing a price correction after an increase in the circulating supply of BTC that is in profit, an analyst said.Profit-taking activity has predominantly been observed among short-term bitcoin holders, a report added.
Quick Take Google is updating its crypto policy to clarify the scope for advertising “Cryptocurrency Coin Trusts.” From Jan. 29, advertisers certified by Google may promote such trusts targeting the United States where they meet its requirements.
Quick Take C1 Fund is aiming to acquire secondary shares in major crypto companies at significant discounts, according to The Australian Financial Review. Blockchain gaming business Animoca Brands and crypto data analysis firm Chainalysis are reportedly among the targets for the $500 million fund.
Quick Take Crypto investment products marked their 11th week of consecutive inflows, adding $43 million last week to reach $1.8 billion over the period.
Quick Take Ark Invest offloaded another 335,860 Coinbase shares on Friday — worth around $49.2 million — following the $59 million in COIN it sold earlier last week. Ark also sold more GBTC shares on Friday, offloading 102,672 ($3.7 million) as bitcoin rose above $44,000 before today’s correction.
Bitcoin dropped to $42,200 — a nearly 4% decrease.Long positions were impacted, with $320 million in longs liquidated across the crypto market.
Quick Take The news comes after GFO-X signed a partnership with London Stock Exchange Group in April.
