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Trump’s Crypto Fortune, Proposed Bill Allowing Federal Taxes to Be Paid in Bitcoin, & More: Weekly Cryptocurrency Roundup – Point Bridge America First ETF (BATS:MAGA)
As the week comes to a close, the world of finance and cryptocurrencies has been anything but calm. From the former President Donald Trumppotential fortune in cryptocurrency to the introduction of a bill allowing federal taxes to be paid in Bitcoin, the news cycle has been full of intriguing developments. Here’s a quick summary of the major stories that have made headlines.
Trump’s cryptocurrency fortune
Former President Donald Trump finds himself in the spotlight once again, this time in the realm of cryptocurrency. His digital wallet contains over half a million TRUMP MAGA/USD, leading to speculation about the value of his holdings. The tokens were allocated to Trump’s wallet as part of a marketing scheme by MAGA, the first project to do so. Read the full article here.
Federal tax payments in Bitcoin
Member of Congress opaque Gaetz (R-Fla.) proposed a bill that would allow federal income tax payments to be made in Bitcoin BTC/USD. The legislation seeks to amend the Internal Revenue Code of 1986, offering taxpayers a new way to settle their federal tax liabilities. Read the full article here.
See also: Rep. Matt Gaetz Introduces Bill to Allow Federal Tax Payments in Bitcoin
Cryptocurrency analyst’s view on Memecoins
Cryptocurrency analyst Michaël van de Poppe recently shared his views on meme coins, such as Dogemoneta DOGE/USD, Shiba Inu SHIB/USD and more. Despite their popularity, he expressed a general dislike for them, criticizing celebrities who exploit their followings to start meme coins for profit. Read the full article here.
Ark Invest’s big moves
Cathie Wood’s Ark Invest has made significant transactions in Roku Inc. ROKU and Coinbase Global Inc. COIN, in a volatile market. The company acquired $7.3 million worth of shares in Roku Inc., a promising competitor to Netflix. Read the full article here.
Bitcoin Transfer by US Government
Wallets believed to be linked to the US government transferred a significant amount of cryptocurrency – 3,940 Bitcoins worth $241 million – to Coinbase. This move comes shortly after a similar move by the German government. Read the full article here.
Bitcoin illustration via Shutterstock.
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