In brief
Energy usage trend over past few months is insane https://t.co/E6o9s87trw pic.twitter.com/bmv9wotwKe
— Elon Musk (@elonmusk) May 13, 2021
$84,157.00
2.39%$1,886.37
4.58%$2.14
3.32%$616.03
3.45%$129.71
2.75%$0.999892
0.00%$0.173797
5.61%$0.681092
5.00%$0.235612
1.59%$1,877.70
4.10%$84,074.00
2.59%$4.14
5.09%$14.02
5.63%$9.24
1.49%$0.271014
3.02%$2,247.56
4.06%$19.53
4.86%$1.00
0.03%$0.00001294
6.03%$2.38
4.99%$0.169064
5.39%$85.39
1.67%$4.20
4.60%$6.30
1.27%$313.53
5.30%$4.69
4.70%$1,883.26
4.40%$0.99975
-0.03%$1.002
0.05%$0.719383
2.04%$13.88
10.09%$1,999.52
4.33%$28.40
0.59%$218.54
0.86%$6.21
5.54%$5.39
3.89%$0.00000755
6.75%$2.63
3.07%$1.046
0.04%$48.64
0.88%$22.80
2.43%$0.10132
2.49%$84,178.00
2.45%$0.802856
2.70%$5.49
5.34%$33.01
-0.69%$17.10
3.79%$0.998564
0.00%$0.811048
4.65%$168.67
8.31%$1.17
0.31%$10.34
3.08%$0.02325591
3.54%$4.50
5.48%$232.11
5.67%$1.00
0.00%$0.359657
1.89%$3.66
7.62%$2.92
6.00%$3.20
0.05%$85,417.00
4.08%$0.207291
2.54%$0.068495
7.60%$4.03
0.13%$0.525071
9.99%$0.18718
5.99%$0.340389
4.18%$11.22
0.52%$84,008.00
2.10%$0.484209
5.54%$4.85
-1.18%$0.768926
3.77%$0.436564
-6.55%$1,963.31
4.71%$1,886.45
4.32%$1,325.89
3.96%$1.09
3.60%$0.068293
-1.58%$135.14
2.69%$72.13
5.97%$18.19
3.62%$0.422229
1.82%$0.678565
17.07%$1.003
0.30%$0.546481
2.46%$0.799594
3.76%$0.634214
4.90%$2,134.84
4.62%$0.00001199
8.40%$0.093126
7.56%$9.09
5.53%$0.997843
0.04%$0.177727
3.53%$0.01404881
4.66%$1.002
0.12%$0.846752
5.92%$0.913705
6.84%$1.001
0.13%$3,169.76
0.08%$7.26
7.28%$83,322.00
2.05%$615.81
3.27%$0.999684
-0.04%$2.36
6.89%$1.003
0.32%$2,000.67
4.76%$0.546835
18.80%$0.01620131
7.53%$0.674003
4.60%$3,158.99
0.28%$0.279459
4.00%$0.545784
19.03%$84,099.00
2.45%$0.00000067
0.78%$32.67
4.31%$0.175505
4.80%$1.002
0.21%$165.91
2.83%$39.13
2.86%$0.395628
4.75%$0.106012
4.14%$2.01
3.11%$0.00006107
5.36%$1,966.27
4.58%$3.13
0.90%$0.01135697
7.31%$16.55
6.02%$142.10
2.79%$7.28
6.54%$0.148416
5.29%$0.999728
0.09%$0.075907
3.50%$1.78
3.88%$0.660622
4.74%$0.51086
7.07%$0.512184
30.65%$0.998112
0.03%$1.78
4.05%$0.530058
23.30%$3.04
5.75%$83,630.00
3.15%$0.442791
7.45%$0.999631
-0.04%$2.92
15.25%$0.252184
3.38%$16.68
3.29%$0.158071
4.82%$28.04
-0.13%$51.13
31.71%$0.00499092
13.31%$0.73081
5.60%$2,004.90
5.01%$1.002
0.15%$0.173462
5.26%$0.440877
2.51%$6.61
5.39%$0.00000044
1.21%$84,060.00
2.32%$1,885.96
4.63%$84,474.00
2.73%$1.20
7.64%$0.04390117
5.05%$1.001
0.05%$0.08259
4.09%$1,887.77
4.62%$1.084
0.09%$110.52
0.02%$1.001
0.08%$1,884.58
4.50%$0.00002022
2.79%$0.49427
5.31%$0.6015
1.22%$1.093
-0.78%$5.46
-0.66%$1,968.17
4.65%$0.00721319
0.67%$0.00665365
6.16%$84,167.00
2.87%$0.207024
2.22%$0.00000179
13.74%$0.181748
7.35%$0.454105
0.72%$0.867288
1.71%$0.383451
5.59%$0.99929
0.00%$0.00553418
-3.38%$0.607902
0.54%$1.002
0.43%$1,866.66
3.00%$1,883.68
4.32%$0.00006147
2.37%$0.00391319
-0.10%$1.003
0.48%$0.03246241
7.94%$1.53
10.66%$121.48
1.43%$2.82
-4.63%$0.00938645
-1.09%$0.03093538
1.27%$0.247041
3.70%$3,586.16
15.45%$1,868.43
4.58%$1.26
5.05%$1,885.47
4.54%$1.20
3.87%$0.25363
5.67%$3.68
2.04%$0.00046915
25.40%$0.642675
5.49%$23.02
4.02%$2.89
1.14%$16.76
7.08%$0.196014
4.56%$83,900.00
2.22%$0.999114
-0.04%$1,981.60
4.07%$84,877.00
4.54%$0.265044
3.46%$2,062.04
4.54%$0.774378
2.00%$1.085
3.71%$0.51706
4.29%$0.068682
3.70%$0.110536
7.38%$2,048.16
4.58%$0.084091
1.27%$1.002
0.24%$0.00273885
6.16%$0.00325139
8.43%$0.118168
1.45%$0.536926
6.01%$0.03050414
3.04%$0.03496949
1.44%$0.00233276
2.71%$1,871.53
3.80%$0.956342
4.33%$1,688.37
2.32%$0.03021897
3.35%$0.01166054
4.94%$0.294381
-3.51%$20.71
3.45%$0.00485729
4.15%$0.659732
4.61%$0.00247031
2.65%$0.522955
1.24%$3.78
8.76%$0.084508
6.22%$0.195119
17.65%Reading
Privacy coin Monero has increased by 32% in the past day to a price of $316 per coin. The sudden rise in Monero's price comes a day after the U.S. Treasury announced that starting in 2023, crypto transfers above $10,000 should be reported to the tax office.
Monero obscures the origins of transactions to preserve its users’ identities. It’s popular among those who use cryptocurrencies on the black market and is the only currency accepted by one of the most popular darknet markets, White House.
If the U.S.’s tax office, the Internal Revenue Service, can’t trace Monero transactions, it can’t prosecute anyone who flouts the rules. That logic may have been enough to pump the price of the coin.
With a market cap of $5.3 billion, Monero is now the 28th largest cryptocurrency by market cap.
The U.S. Treasury department today released a report that outlined the Biden administration's tax compliance plan, including a new requirement for businesses to report cryptocurrency transfers of $10,000 or more to the IRS. “As with cash transactions, businesses that receive cryptoassets with a fair-market value of more than $10,000 would also be reported on," the Treasury Department's report said. According to the report, the Biden administration is concerned that cryptocurrency "already poses...
However, things may not be so simple. Blockchain analysis firm Ciphertrace has patented software it claims can trace Monero transactions, and competitor Chainalysis landed a $625,000 contract from the IRS to work out how to trace transactions.
Monero is still down roughly 21% in the past week despite the price bump, according to data from Nomics.
Like all of the top coins, Monero crashed after three major Chinese bankings and payments firms reiterated that they would not transact with companies that engage in cryptocurrency transactions.
The payments giants—National Internet Finance Association of China, China Banking Association, and the Payment and Clearing Association of China—also warned against speculative crypto trading, which “seriously infring[es] on the safety of people's property and disrupt[s] the normal economic and financial order.”
Combined with Tesla and SpaceX CEO Elon Musk’s criticism of Bitcoin on Twitter, the statements tanked the market.
Energy usage trend over past few months is insane https://t.co/E6o9s87trw pic.twitter.com/bmv9wotwKe
— Elon Musk (@elonmusk) May 13, 2021
Bitcoin's price fell as low as $30,415 on Wednesday before recovering to its current price of about $40,000. Monero sunk to lows of $198, its lowest price since February.
But for now, the coins are back up.
OpenAI said Monday it has secured an additional $40 billion in funding to support research and development, as the tech powerhouse looks to strengthen its lead in the artificial intelligence sector. Japanese conglomerate SoftBank led the funding round, as well as contributions from other investors, including longtime partner Microsoft, OpenAI said in a blog post. Decrypt has reached out to learn more. OpenAI Plans to Release ‘Open-Weight’ Model with Reasoning Capabilities The announcement comes...
Donald Trump Jr. and Eric Trump have teamed up with Bitcoin mining heavyweight Hut 8 to launch American Bitcoin, a new industrial-scale mining firm that plans to become the “world’s largest and most efficient Bitcoin miner.” Announced on March 31, the venture was born out of a strategic deal in which Bitcoin mining company Hut 8 contributed the majority of its mining hardware to American Data Centers Inc., a company backed by the Trump sons. The firm was then rebranded as American Bitcoin—a majo...
Smoke from Nicaraguan cigars choked out the room as a heavy-set Bitcoin miner from the Deep South explained how the industry was expanding at an exponential rate. "You have no idea," he said at this year's Mining Disrupt pre-party in Fort Lauderdale, Florida, before following up with the common Bitcoiner maxim—repeated by President Trump on the campaign trail—that you should never sell your stash. Having been involved in the space since the early days, he recalled buying a Ferrari with orange c...