Crypto

5 cryptocurrency news of the week: eBay, Ethereum, Kraken, Dogecoin, Scam

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eBay Considers Cryptocurrency and NFT Payments
EBay has been in the spotlight this week for two reasons. The e-commerce giant, first of all, is considering accepting payments in cryptocurrency, and on the other hand, it plans to enter the non-fungible token business, which is now very popular NFT. This information was revealed in an interview with CNBC last Monday by eBay CEO Jamie Iannone, without going into details. EBay and cryptocurrencies are nothing new. The digital giant has been exploring “the possibilities of blockchain and cryptocurrency” since at least 2019, when it joined Facebook’s Libra project. “Blockchain and cryptocurrency will inevitably change the way people interact and pave the way for redefining commerce,” the company said at the time.

New all-time record for Ethereum (ETH)
Ethereum is really in great shape. This week, the second largest cryptocurrency by market cap has indeed hit a new all-time high of over $ 3,500 per unit. Much of this growth is due to the growing interest of institutions in ETH, the continued expansion of Decentralized Finance (DeFi) applications, and upcoming developments such as EIP-1559. Ethereum grew by more than 380% in 2021, and its capitalization reaches almost 400 billion dollars, or 38% of Bitcoin’s capitalization (+ 74% in a month).

US tax authorities force Kraken to disclose user details
In the United States, those who have bought or traded cryptocurrency will not escape the US tax authorities. A subdivision of the California District Court actually authorized the agency to issue a subpoena called “John Doe” in exchange for the Kraken. The goal is to uncover the identities of US residents and citizens who made crypto transactions of $ 20,000 or more between 2016 and 2020. Subpoena of John Doe under the IRS’s own terms and conditions allows him to “obtain the names, information, and documents concerning all taxpayers in a particular group.”

Analysts say Dogecoin (DOGE) will stand next to Bitcoin (BTC) in the long run.
Dogecoin, this cryptocurrency made to laugh, continues to skyrocket and is now ranked fourth in the market by market cap, $ 77 billion, sorry! Each unit is currently worth $ 0.6. The Doge is of interest and many are wondering if this is just a fad or if this cryptocurrency isn’t going anywhere. In a research paper titled Dogecoin: The Most Honest Shitcoin), Galaxy Digital Research concludes that this is ironic because people know the Doge is nothing more than a joke. Will the symbolic dollar level be reached in the coming weeks?

TikTok user creates a scam token for laughs and meets unexpected success
With Dogecoin, we already knew that a cryptocurrency created as a joke can be a huge success. Doge has indeed become the 4th largest cryptocurrency by market cap. Well, history seems to be repeating itself ever since TikToker contributor Andre Lewis created his own cryptocurrency for fun, the Simple Cool Automatic Money (SCAM) token, also known as a “scam.” The goal was to laugh at the proliferation of shitcoins. But the joke turned into a very concrete reality, since today SCAM has a capitalization of $ 4 million. The SCAM token was created on the Binance Smart Chain (BSC) and was minted from 10,000 billion tokens for approximately $ 400.

Find five cryptocurrency news in the video:

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