Trump's Crypto Fortune, Proposal For Bill Allowing Federal Tax Payments In Bitcoin, And More: Crypto Weekly Round-Up

Benzinga Neuro

June 29, 2024

As the week comes to a close, the world of finance and cryptocurrency has been anything but quiet. From former President Donald Trump‘s potential crypto fortune to the introduction of a bill allowing federal tax payments in Bitcoin, the news cycle has been buzzing with intriguing developments. Here’s a quick recap of the top stories that made headlines.

Trump’s Crypto Fortune
Former President Donald Trump finds himself in the spotlight once again, this time in the realm of cryptocurrency. His digital wallet holds over half a million TRUMP (CRYPTO: MAGA) tokens, 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
Congressman Matt Gaetz (R-Fla.) has proposed a bill that would allow federal income tax payments to be made in Bitcoin (CRYPTO: BTC). The legislation aims 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: Congressman Matt Gaetz Introduces Bill To Allow Federal Tax Payments In Bitcoin

Crypto Analyst’s Take on Memecoins
Cryptocurrency analyst MichaÃ«l van de Poppe recently shared his views on meme coins, such as Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB) and more. Despite their popularity, he expressed a general dislike for them, criticizing celebrities who leverage their following to start meme coins for financial gain. Read the full article here.

Ark Invest’s Big Moves
Cathie Wood’s Ark Invest made significant trades in Roku Inc. (NASDAQ:ROKU) and Coinbase Global Inc. (NASDAQ:COIN), amidst a volatile market. The firm acquired $7.3 million worth of shares in Roku Inc., a promising Netflix competitor. Read the full article here.

US Government’s Bitcoin Transfer
Wallets believed to be linked to the U.S. government have transferred a significant amount of cryptocurrency—3,940 Bitcoin valued at $241 million—onto Coinbase. This move comes shortly after a similar transfer by the German government. Read the full article here.

Read Next: Bitcoin, Ethereum, Dogecoin Retrace On Fears Of $240M Sale By US Government: King Crypto Should Reclaim

Bitcoin illustration via Shutterstock.

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