BTC, DOGE rally, Microsoft could use Ethereum to fight hacking

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Major cryptocurrencies by market value saw their prices rise over the weekend.

Bitcoin topped $ 48,000 on Saturday, pushing the value of the entire cryptocurrency market above $ 2,000 billion for the first time since May. Altcoins, like Ether, Dogecoin, and Cardano, have also surged.

This comes despite a relatively difficult past week for the industry. From the Senate which passed the infrastructure bill without amendment at its disposal on the declaration of the cryptocurrency tax at over $ 600 million in crypto stolen in a DeFi record, or decentralized financial hack, here are six things to know.

1. The Senate adopts the bill on infrastructure without amendment to the provision on crypto-tax

After a dispute over the wording of its cryptocurrency tax reporting provision, the Senate on Tuesday passed the $ 1,000 billion infrastructure bill without amendment. Now, many House Democrats are calling for change, just as crypto advocates and many senators have tried before.

Currently, the bill defines a “broker” as “anyone who (for a fee) is responsible for regularly providing any service that transfers digital assets on behalf of another person,” which advocates say of cryptography, is too broad. As written, it could potentially target miners, developers, stakes and others who do not have customers and therefore would not have access to the information necessary to comply.

Since the Infrastructure Bill was passed in the Senate, members of the House including Representatives Ro Khanna, D-Calif., Eric Swalwell, D-Calif., Anna Eshoo, D-Calif., Bill Foster , D-Ill., And Darren Soto, D-Fla., Called for an adjustment and asked that the definition of a “broker” be narrowed.

If the House amends the bill, it will then go back to the Senate for another vote before moving to President Joe Biden’s office.

But to avoid further delays, the US Treasury Department plans to clarify its definition of a “broker” without amending the bill, Bloomberg reports, citing a Treasury official. The bill would remain unchanged, but the Treasury would verbally promise not to target non-brokers when the tax law is subsequently drafted.

Policymakers are expected to meet this week to discuss.

2. A record $ 600 million was stolen in a DeFi3 hack. Coinbase Reports Ethereum Trading Volume Was Higher Than Bitcoin For The First Time In Q2

In its second quarter earnings report released on Tuesday, cryptocurrency exchange Coinbase reported higher revenues than analysts expected. It generated revenue of $ 2.23 billion and net profit of $ 1.6 billion.

Coinbase also reported that the total trading volume on the platform went beyond bitcoin during the quarter. For the first time, Ethereum’s trading volume was higher than bitcoin trading volume.

4.Walmart is hiring a digital currency and cryptocurrency product manager

Walmart is looking to add a “digital currency and cryptocurrency product manager” to its team, according to a recent job posting.

The company is looking to hire someone to “own and lead the digital currency strategy for Walmart.”

“As an expert in digital currency / cryptocurrency and blockchain technologies, you will lead the vision of the product and capability roadmap. You will provide leadership to identify technology and customer trends and the investments required to capitalize on these trends, ”the work publish readings.

In July, Amazon announced that it was looking to hire a similar position.

5. Mark Cuban and Elon Musk agree that dogecoin is “the strongest” as a medium of exchange

The memes-inspired cryptocurrency dogecoin surged Monday morning, hitting 35 cents, according to CoinMarketCap.

The boost came after billionaire investor Mark Cubant told CNBC Make It that “the Fordoge community is strongest when it comes to using it as a medium of exchange.” On Twitter, Tesla and SpaceX CEO Elon Musk said he agreed.

“I’ve been saying this for a while,” Musktweetedon on Saturday.

Although Cuban had Musk’s backing, many bitcoin maximalists disagreed. While explaining his position on Twitter, Cuban revealed that he personally owns $ 494 of dogecoin. Cuban also said that while he does not prefer dogecoin over bitcoin, dogecoin has its advantages.

In addition to Dogecoin, Musk and Cubanownbitcoin and Ether, among other digital coins.

6. Microsoft’s research department proposes to use the Ethereum blockchain to fight piracy

In an article titled “Argus: A Fully Transparent Incentive System for Anti-Piracy Campaigns,” researchers from Microsoft, Alibaba, and Carnegie Mellon University proposed the use of the Ethereum blockchain to combat the hacking, Cointelegraph first reported.

“To the best of our knowledge, [Argus] is the first public anti-piracy system that (…) is efficient and economically practical to run on a public blockchain, ”the researchers wrote.

Argus would run on Ethereum to allow informants to remain anonymous, among other things, which would be a useful, but also necessary, component of its system, the researchers said in their article.

“Anti-hacking is fundamentally a procedure that relies on collecting data from the anonymous open population, so how to induce credible reporting is a question at the heart of the problem,” the researchers wrote. “With the security and convenience of Argus, we hope that real-world anti-piracy campaigns will be really effective by moving to a fully transparent incentive mechanism. “

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