Daily News Headlines | Latest Crypto News (21st May) | Cryptoknowmics
Here are the top 5 crypto news for the day!
Let’s dive into the news headlines one by one and see how they’ll be affecting the crypto space as we
know it, in the coming days.
Red Bull Racing Honda and Aston Martin Cognizant are planning to make an entry into the NFT market. Red Bull Racing Honda is planning to launch its NFT fan token on the Tezos blockchain, while the Aston Martin Cognizant Formula One Team is in partnership with the creators of Fan Tokens, Socios.
Despite Bitcoin’s price plummeting by $10,000 yesterday, the founder of SkyBridge Capital, Anthony Scaramucci, says that the digital asset’s 2021 bull cycle is not over and will resume. Speaking to CNBC’s Squawk Box on May 20, he said that forced liquidations added increased selling pressure resulting in Bitcoin’s price crash.
Crypto transactions over US$10,000 would soon have to be reported to the Internal Revenue Service (IRS) as the US Treasury under the Biden administration is planning to improve tax enforcement. Bitcoin changed course shortly after the Treasury’s announcement and was last seen trading up 1.6 percent. Earlier in the session, it was up more than 9%.
Ripple’s Co-founders, Chris Larsen and Jed McCaleb are among the crypto billionaires who have lost significant XRP fortunes of their net worth in the last week as the crypto market crashed. Several crypto billionaires have lost a total of $15 billion in net worth over the last nine days, as Bitcoin and other big cryptocurrencies have plummeted.
The Dogecoin prices rose by 20% within minutes after Elon Musk has just returned to Twitter to discuss DOGE, posting an image of a $1 bill with a Shiba-Inu dog on it, implying that this is his prediction for the meme-price coins. It’s worth noting that less than two weeks ago, Dogecoin was around $0.25 away from meeting its $1 mark. At the time, DOGE had surpassed BNB to become the fourth-largest cryptocurrency by market capitalization.