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Summary of Past Week Articles October 21, 2022

Elon Musk’s Tesla Holds More Than $200 Million in Bitcoin, According to the Most Recent Earnings Report:

Tesla still possesses more than $200 million in digital assets, the bulk of which is believed to be disclosed.

According to the corporation’s most recent earnings report, the company had $218 million in “digital assets” as of September 30, at the end of the third quarter.

The result is the same as what the business disclosed for the second quarter when it sold BTC valued at $936 million.

Tesla reported digital asset holdings of roughly $1,260 in Q3 21, Q4 21, and Q1 22.

Although Tesla does not specify which digital assets it holds on its financial sheet, it is widely assumed that the great majority, if not all, of the $218 million is kept in the form of BTC. However, Tesla CEO Elon Musk has previously stated that the corporation also possesses some dogecoin (DOGE), albeit the actual amount is unknown.

Tesla put bitcoin on its balance sheet for the first time in February 2021, when it purchased USD 1.5 billion in digital currency.

Shiba Inu Price Prediction: Will SHIB Surpass Dogecoin?:

Despite bouncing above the $0.0000098 support level, the Shiba Inu price prognosis remains slightly bearish. In recent weeks, Shiba Inu (SHIB) has lagged behind Dogecoin (DOGE).

Shiba Eternity collectible card game has exceeded 100,000 downloads on Android since its international release on both iOS and Android. As a result, the company will use the SHIB token within the game, which has 11,500 user reviews and a rating of 4.7.

Meanwhile, on October 19, Shiba Inu attempted to break the critical support level of $0.0000094 on the 4-hour chart. However, it failed, as two unknown, affluent Shiba Inu buyers committed a whopping $2.72 million in three significant transactions to acquire 256.98 billion SHIB.

The 50th richest Shiba Inu Whale contributed an amazing 125.34 billion SHIB, worth about $1.32 million, in two different transactions in the last 24 hours, according to Etherscan.io data.

The Shiba Inu ecosystem now includes a play-to-earn game, a metaverse (Shibaverse), and a decentralized exchange. Shiba Inu’s popularity has expanded with the beginning of these new enterprises. 

As a result, many investors are eager to integrate the SHIB cryptocurrency into their portfolio of digital assets. As a result, the SHIB/USD currency pair is trading in a narrow range of $0.0000098 to $0.000010.

Cryptocurrency prices fall, yet several coins remain profitable: IMPT, LUNC, AAVE, and DOGE:

While the cryptocurrency market remains downbeat, a growing number of coins have managed to defy the trend.

This article looks at a few of these crypto assets.

The currency fuels the Impact Project, an Ethereum-based protocol that aims to investigate blockchain’s potential in combating climate change.

The Impact Project is one of the most prominent environmental, social, and government (ESG) ventures in the crypto sector, allowing investors to profit while helping others.

It has raised almost $6 million in two weeks to $10.8 million, demonstrating strong investor interest. The forthcoming launch of GHO, an overcollateralized dollar-backed stablecoin for the Aave Foundation, is the most encouraging development for AAVE.

AAVE holders will also be allowed to mint GHO at a reduced rate.

DOGE, the market’s most valuable meme coin, has established itself as one of the most valuable crypto assets.

DOGE is trading at $0.0595, representing a 1.75% increase in the last 24 hours.

The D2T token has recently dominated the news as a new cryptocurrency.

The US Internal Revenue Service has issued new reporting guidelines for digital assets:

The US Internal Revenue Service (IRS) has issued new instructions for reporting digital assets, including clarification on the taxation of non-fungible tokens (NFTs) and stablecoins.

For tax purposes, the IRS’ proposed 2022 tax year guide classifies cryptocurrencies, stablecoins, and NFTs as “digital assets.”

If an asset possesses the characteristics of a digital asset, it will be considered as such for federal income tax purposes.

Meanwhile, the 2021 guide used the word “virtual money” with no recommendations for stablecoins or NFTs.

However, because it is not defined, NFTs will not be taxed in the same way as art under this draft.

The draft guidance noted that all taxpayers must respond to digital asset questions, encouraging people not to leave this area blank. According to the draft, all taxpayers must address the question, not simply those who participated in a digital asset transaction.

Meanwhile, the IRS got permission from a US district judge in September to pursue individuals who attempt to avoid paying taxes on cryptocurrency transactions.

This Crypto Just Signed an Affiliate Deal with Amazon – Massive Pump on the Way?:

IMPT is a new cryptocurrency project that aims to revolutionize the field of carbon credits by putting them on-chain to substantially improve the industry’s efficiency and transparency and motivate their users to “buy ethically.

The IMPT shopping platform now has more than 25,000 partners, including Amazon.

Over the last several weeks, the IMPT team has been highly active, significantly expanding their product offering through their affiliate relationship program, with over 25,000 additional products.

Some of the world’s largest corporations are among these brands, like Amazon, Microsoft, Gamestop, River Island, and others. For socially responsible shopping, IMPT intends to change this and discover new ways to motivate individuals and businesses to pollute less.

Their “socially responsible purchasing” concept means that when consumers shop through their platform with companies that score highly on ESG indicators, they are rewarded with IMPT cashback.

So far, the IMPT presale has raised over $6 million in just over two weeks, demonstrating strong enthusiasm for the initiative.

Jack Dorsey, the founder of Twitter, has revealed a roadmap for a new decentralized social protocol:

Bluesky, founded by Twitter founder and former CEO Jack Dorsey, has announced a roadmap and a new website for an open and decentralized “social protocol,” dubbing the project the AT protocol.

AT protocol has now grown “solid enough” that the team feels comfortable disclosing more details about their work, according to a new webpage released on Twitter on Tuesday by Bluesky, the foundation founded by Jack Dorsey to explore and construct an open social protocol.

Bluesky’s tweet was also retweeted by Jack Dorsey, who called the new protocol “foundational.”

According to Bluesky, the next phase is launching a social app with a queue accessible for people who wish to be notified when it is ready and become early users. In addition, the team revealed today that participants in private beta testing of the technique could sign up for a waitlist on the Bluesky website.

AT protocol is an abbreviation for “Authenticated Transfer Protocol,” which describes how the protocol allows a user’s social media account to be transferred from one social media provider to another.

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