Crypto Industry News & Market Trends

IRS Affirms Crypto is Property, Not Currency: How Does This Affect Users？

The IRS has affirmed that cryptocurrency is property for tax purposes.Crypto assets will be taxed in specific ways, depending on how they are used.Proposed U.S. legislation could end tax deferral benefits for crypto miners and stakers.　　Cryptocurrency users face specific consequences following the IRS‘ affirmation of its position on the crypto tax regime, as contained in the latest Congressional Research Service (CRS) report released on September 2. The agency’s position aligns with the June 2026 US Tax Court ruling in Paschall v. Commissioner, which classified crypto as property and not currency.　　This classification implies that digital assets will not enjoy the “foreign currency” tax exemptions that apply to traditional cash transactions, but that is only the tip of the iceberg. Classifying cryptocurrency as property rather than currency affects how users mine, spend, sell, swap, and stake digital assets.　　How Does the IRS Tax Regime Affect Crypto Users？　　The IRS classification determines the applicable tax regime for digital asset income. Therefore, staking rewards and mining payouts come to the fore when analyzing how the affirmed classification affects cryptocurrency users.　　Under this structure, the IRS would treat staking rewards and mining payouts as ordinary income, which begins when users receive the crypto in their wallets. Considering the

09-08Industry

How the Crypto CLARITY Act Could Impact Traders If Passed

The September 15 procedural vote needs 60 votes to open Senate floor debate.After passing the procedural vote, it would still require full debate, a vote, and a final bill.Keep Your Coins Act would protect users right to hold crypto in self-custody wallets under federal law. 　　The U.S. Senate is set to take a key procedural step on the CLARITY Act on September 15, a vote that could shape how digital assets are regulated in the country. While the vote will not decide the bills final passage, it will determine whether the legislation advances to formal debate, requiring 60 votes to move forward.　　The September 15 Senate vote isn‘t the final vote to enact the bill into law. If it passes, the Senate still has to debate and vote on the bill itself. Then, the House and Senate would have to agree on the same version before it ever reaches the president’s desk.　　Either way, in case the CLARITY Act becomes law, the US crypto market could end up looking rather different from how it does today.　　The bill will set up a federal framework that decides which digital assets are commodities, which fall under securities rules, whether the SEC (Securities and Exchange Commission)

09-08Industry

Broadcom Inc. (AVGO) Stock: Rises as Custom AI Silicon Fuels Massive Growth Outlook

TLDRBroadcom stock gains as custom AI silicon drives stronger revenue growth outlook.AI semiconductor revenue jumps 221% to $16.7 billion in Broadcoms latest Q3.Broadcom projects $115 billion in AI semiconductor revenue for fiscal 2027.Strong free cash flow gives Broadcom more room to fund future AI expansion plans.William Blair keeps its Buy rating as Broadcoms long-term AI outlook improves.　　Broadcom Inc. (AVGO) stock rose 0.21% to $357.90 as custom AI silicon strengthened its growth outlook. Shares later slipped 0.23% after hours to $357.07 following strong quarterly results. Hyperscaler spending on accelerators and networking continues supporting Broadcoms expansion.　　Broadcom Inc., AVGO　　Custom AI Silicon Drives Broadcom Revenue Growth　　Broadcom reported Q3 2026 revenue of $29.6 billion, up 86% year over year. AI semiconductor revenue reached $16.7 billion, rising 221% as hyperscalers expanded custom deployments. Management expects Q4 AI semiconductor revenue of $21.7 billion, representing 236% annual growth.　　Discover more　　Astrology & Divination　　financial　　News　　Broadcom also expects total Q4 revenue of about $34.8 billion, up 93% annually. The company generated $13.7 billion in free cash flow during Q3. That figure equaled 46% of revenue and strengthened Broadcoms funding capacity.　　Management expects strong demand to extend beyond fiscal 2026 as hyperscalers expand specialized computing. Broadcom projects about $115 billion in AI semiconductor revenue for

09-08Industry

Viral TikTok Meme Coin BIPOLAR Launches Tomorrow. But Theres a Trap

A meme coin called BIPOLAR goes on sale on Tuesday at 5 PM UTC. It does not exist yet, so nobody can buy or check it. However, TikTok videos are already going viral, and a trading account has posted the exact minute.　　JUST IN: Upcoming memecoin $BIPOLAR gains attention on TikTok, with creators promoting the meme to onboard a wider audience. Set to launch tomorrow at 5PM UTC on PumpFun. pic.twitter.com/fP2YpOUsnw　　— Whale Insider (@WhaleInsider) September 7, 2026　　How a Coin Like This Gets Made　　BIPOLAR will be made on Pump.fun, a Solana-based launchpad where anyone can create a coin in a minute. No company, no product, no paperwork.　　Each coin gets a long code, the only proof of which is real. Fakes copy the name within seconds, so nothing can be checked until Tuesday.　　Announcing the exact minute sounds fair, but it is not. The coin is made by one computer instruction, and programs buy it in that same instant, while people cannot.　　Discover more　　Engineering & Technology　　News　　FINANCE　　One free tool says so plainly.　　“An open-source bundler for Pump.fun. Allows you to create a token and bundle it with 25 buys,” the team wrote on GitHub.　　So the coins maker can buy a pile of it in the same breath.

09-08Industry

Bitcoin's $9.07B Whale Profit Record Puts Rally Floor to Test

Bitcoin‘s short-term whale cohort amassed a record $9.07 billion in unrealized profit before the figure eased as BTC slipped. A new analysis suggests the paper gains could increase selling pressure and test the rally’s underlying price floor.　　Key TakeawaysAnalyst flagged a record $9.07 billion in short-term whale paper gains.The metric eased to $7.51 billion but remained historically high.Elevated profitability may increase the risk of whale selling.　　Bitcoin Whale Paper Gains Reach a Record　　Short-term holder whale unrealized profit and loss reached $9.07 billion on Sept. 4, the highest reading in the metrics available history dating to 2016, according to an analysis published by Cryptoquant on Sept. 7. Cryptoquant contributor IT Tech described the figure as paper gains held by large wallets that acquired bitcoin within recent months.　　The metric eased to $7.51 billion on Sept. 5 as bitcoin‘s price declined slightly. That reading still ranked among the five highest in the chart’s observed period, with all five occurring during the previous two weeks. The concentration shows how rapidly profitability expanded among newer large holders during BTCs climb above $80,000.　　The contributor framed those gains as potential selling exposure rather than evidence that whales had already begun realizing profits and wrote:　　“Unrealized profit at that scale is

09-08Industry

XRP Stuck in Range as $1.50 Breakout Level Comes Into Focus

XRP is consolidating within a tight range between $1.34 support and $1.45 resistance levels. RSI and MACD both point to fading momentum, with the MACD line sitting below its signal line.A move above $1.50 could target $1.70, while a drop below $1.34 may push XRP toward $1.25.　　XRP is consolidating after swinging between a low near $1.31 and a high around $1.70, with price now stabilizing in a retracement phase.　　At the time of writing, XRP trades near the 0.236 Fibonacci level around $1.40, after failing to hold above the 0.382 resistance near $1.45. The rejection points to weakening bullish momentum, with the market now boxed into a short-term range between $1.34 support and $1.45 resistance.　　Structure Points to $1.45 as the Level to Beat　　From a structural perspective, the recent rally began after price broke above a previously existing Fair Value Gap (FVG), an existing imbalance zone. Thats left $1.45 as the level to beat: price has failed to sustain a move above it more than once, a sign of supply absorbing every push higher.　　RSI and MACD Confirm Fading Momentum　　Furthermore, technical indicators support the current weakness. The Relative Strength Index (RSI) remains in neutral territory but is trending downward, suggesting fading buying strength.

09-08Industry

XRP Futures Activity Surges to Highest Level in Six Months

XRP futures volume has skyrocketed to its highest level in six months as traders return to the market in force.　　CryptoQuant has shown that XRP futures trading activity in August reached its strongest level since February.　　Liquidity has seemingly returned to XRP derivatives following a quieter stretch.　　XRP Whales Hold $1.40 as Lummis Warns: ‘No CLARITY Now Means 2030’ – Main Crypto News This Morning　　Discover more　　Explore Paranormal Gear　　Compare Exchange Rates　　Deploy Cloud Servers　　Liquid Hackers Return ‘Most’ of 4,000 BTC After Bug Fix　　This is not necessarily a bullish sign for the popular altcoin, but it is a notable development nonetheless.　　Binance remains in the lead　　Binance accounted for by far the largest share of XRP futures activity during August.　　According to the CryptoQuant analysis, approximately $37 billion worth of XRP futures changed hands on Binance during the month.　　This coincided with a substantially stronger month for XRP itself. CoinGlass data cited in the report showed the cryptocurrency gaining more than 36% over the previous 30 days.　　You Might Also Like　　There has been renewed speculative interest around XRP following months of comparatively subdued activity.　　The derivatives market is highly active　　Fresh CoinGlass data also shows that XRP remains one of the more heavily traded assets in the derivatives market.　　XRP futures generated approximately $3.45

09-08Industry

Stablecoin growth will test 24/7 FX liquidity, TransFi CEO says

Local-currency stablecoin launches have increased demand for 24/7 foreign exchange liquidity as more than 70% of conversions into dollar stablecoins begin in another currency.　　SummaryTransFi CEO Raj Kamal expects local-currency stablecoins to move more foreign exchange activity onchain.Round-the-clock settlement could produce thinner liquidity and higher conversion costs outside normal trading hours.Fragmentation across currencies, issuers, and blockchains may leave businesses relying on dollar stablecoins as intermediary assets.Banks will need redemption, FX, and network connections to turn token issuance into regular commercial use.　　Raj Kamal, founder and CEO of payments company TransFi, told crypto.news that issuing euro, sterling, yen, and other local-currency stablecoins would bring more foreign exchange activity directly into payment transactions.　　More than 70% of flows from fiat currencies into dollar stablecoins already originate outside the U.S. dollar, according to data cited by Kamal. Each flow requires a currency conversion somewhere in the process, even when the token used for payment is denominated in dollars.　　The Bank for International Settlements reported in its 2026 Annual Economic Report that 99.4% of fiat-backed stablecoins by market value were pegged to the dollar. Kamal expects the mix to change as regulated issuers add tokens tied to currencies used by companies for payroll, supplier payments and treasury operations.　　“For

09-08Industry

Liquid Hackers Return $270M in Bitcoin After Swiping $320 Million

In briefThe actors behind Liquids 4,000 BTC security incident returned 3,400 BTC to the federation wallet.The transfer followed a signed message from Blockstream saying Liquids bridge nodes had been patched.Nearly 600 BTC remains outstanding, and Liquid has not announced when normal operations will resume.　　The self-proclaimed “white hat hackers” behind the withdrawal of roughly 4,000 BTC from Liquid Network returned 3,400 BTC, worth around $269.2 million, to the sidechains federation wallet Monday, recovering about 85% of the funds.　　Despite the return, approximately 598.5 BTC, worth about $47 million, remains in the address linked to the withdrawal.　　Myriad: Bitcoins next price move？ Click to make your prediction.　　The incident began Sunday when a customer sent 4,000 L-BTC to SideSwaps peg-out service. The actors later called themselves “whitehats”—ethical hackers who identify security flaws to help organizations fix them—in a Bitcoin transaction message.　　Ledger Chief Technology Officer Charles Guillemet remained skeptical of the actors white-hat claim after most of the funds were returned.　　“So, 3,400 BTC were refunded,” Guillemet wrote on X. “The ‘white hats’ still hold 600 BTC. If this was ever a negotiated reward under an encrypted contract signed on-chain, it looks more like extortion than white-hat hacking!”　　Liquid disabled its bridge nodes after the withdrawal and asked

09-08Industry

Philippines Crypto Payment Rules Face Major Changes With 12-Month Operator Freeze

The Philippines crypto payment rules may pause new operator registrations for 12 months. Meanwhile, regulators plan stronger controls for crypto-related payment services.　　The Bangko Sentral ng Pilipinas (BSP) has proposed a 12-month suspension. The pause will apply to new Operator of Payment System (OPS) registrations. The central bank is also considering revising its licensing regime and classification system.　　Philippines Plans Stricter Controls for Crypto Payment Services　　The draft rules impose new requirements on regulated institutions. These rules would apply when institutions serve virtual asset businesses through merchant acquiring services.　　For instance, covered institutions would be required to have direct agreements with virtual asset service providers. They would also have to improve their customer verification systems before offering payment services.　　On the other hand, institutions would have to do more due diligence. They would also have to monitor transactions with these businesses on a regular basis.　　Discover more　　Brokerages & Day Trading　　FINANCE　　Finance　　Related reading: Binance Launches in Philippines via BlockShoals　　Furthermore, appropriate limits on transactions and settlements are proposed. These controls would enable institutions to better control risks associated with payment activity involving crypto assets.　　The proposed 12-month freeze would impact new OPS applications. The BSP would carry out a comprehensive review of its licensing regime during this time.　　Applications submitted before

09-08Industry

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