U.S. banks reported an alarming increase in unrealized losses and a growing list of institutions at risk of failure in the first quarter of 2024, according to the latest U.S. Federal Deposit Insurance Corporation (FDIC) data. The FDIC report highlights $ 517 billion in unrealized losses and identifies 63 banks as vulnerable, marking a …
In the first quarter of 2024, Canaan Inc. generated $ 35.1 in revenues versus the $ 72.4 million in costs incurred in the same period which resulted in the company recording a gross loss of $ 37.3 million. Nangeng Zhang claimed that Canaan’s revenues in the last quarter exceeded expectations due to …
An in-depth examination conducted by the onchain analytics firm Glassnode, alongside the researcher Cryptovizart, has shed light on bitcoin’s unexpected rise to record-breaking highs just before the halving occurrence, unveiling key aspects of market behavior. Glassnode Report Sheds Light on ETF Net Inflows and Long-Term Bitcoin Holder Gains In its analysis, Glassnode emphasizes the notable […]
The Japanese government has approved a tax reform that removes some crypto taxes for corporations and conglomerates. The reform, discussed since early December, removes the unrealized gains taxes on crypto holdings for companies, paving the way for them to hold crypto assets more consistently. Japanese Government Approves Tax Reform to Eliminate Unrealized Gains Tax The […]
Japan is considering exempting corporations from paying unrealized gains income taxes related to cryptocurrency holdings. The measure, proposed as part of a reform in Japan’s tax code, would allow companies to avoid paying taxes for cryptocurrencies even if their market value changes during each fiscal year. Japan to Stop Taxing Corporations for Unrealized Cryptocurrency Gains […]