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first_img Senator Daines introduced the ADAPT Act, which exempts stablecoin payments from capital gains tax and introduces wash sale rules

U.S. Senator Steve Daines (Republican from Montana, member of the Senate Finance Committee) has officially introduced a 56-page digital asset tax bill, named the "Aligning Digital Assets with Tax Principles Act" (ADAPT Act). The bill aims to establish clearer tax rules for scenarios such as stablecoin payments, network fees, staking, and lending, and plans to extend existing tax rules like wash sales and constructive sales to apply to digital assets.The core provisions of the bill state that taxpayers generally do not need to recognize gains or losses when using compliant U.S. dollar stablecoins to purchase goods and services, while exempting brokers from information reporting obligations for qualifying consumer transactions; however, this exemption does not apply to traders and market makers. The bill also extends wash sale rules and constructive sale rules to digital assets, with compliant stablecoins excluded from the constructive sale provisions to limit loss harvesting behavior in crypto assets.Additionally, the bill proposes to exempt digital assets used to pay for network, transaction, or gas fees of $10 or less from gain or loss recognition and allows qualifying digital asset traders and dealers to choose to account for them at fair market value. The bill also stipulates rules for income sources from staking and mining, a non-recognition framework for digital asset lending, a safe harbor for foreign investors' transactions, and definitions for digital asset classifications; most provisions will apply to tax years or transactions after December 31, 2026. Previously, the U.S. House Ways and Means Committee passed its own "Digital Asset Tax Certainty Act" on September 16 by a vote of 38 to 5.

first_img Kevin Bass: Anthropic builds an unshuttable regulatory capture machine, calling for a congressional investigation

User Kevin Bass posted that he has audited the finances of the artificial intelligence company Anthropic and found shocking circumstances, thus calling for Congress to investigate. Bass stated: Anthropic not only seeks regulatory capture but has also built an unshuttable regulatory capture machine, with structural financial incentives making it impossible to shut down its AI doomsday loop. This loop begins with METR, which Anthropic CEO Dario Amodei proposed to be assessed for model risk by a third-party evaluation agency and suggested METR.Bass claimed that METR financially relies on Anthropic's success, particularly the explosive growth of Anthropic stock exceeding $7 billion. Facebook co-founder Dustin Moskovitz invested this stock into Good Ventures Foundation, which constitutes the majority of the organization's portfolio, and GVF is the overwhelming funder of the entire Anthropic network ecosystem. This stock was worth $500 million earlier last year and is now valued at over $7.7 billion about 16 months later. METR cannot afford to interrupt this growth.Bass pointed out that the same organization funding METR also funds organizations promoting AI doomsday, such as the Tarbell Center, which has published articles in The Verge, Science, Los Angeles Times, and others. These organizations all rely on the same funding. Bass stated that METR and others are not independent of Anthropic and cannot provide independent assessments; Congress must investigate.

first_img Uniswap launched StablePair Hook, a dynamic fee rate to help LP capture the value of stablecoin transactions

According to The Block, Uniswap Labs announced the launch of a new tool, StablePair Hook, designed specifically for stablecoin trading pairs such as USDC/USDT and USDC/USDG.Uniswap Labs stated that StablePair Hook can provide traders with consistent and predictable quotes, allowing liquidity providers to retain more of the value they create. Data shows that in the second quarter, the trading volume of exchanges between stablecoins on Uniswap reached $43.4 billion, surpassing the total of the other three major on-chain trading venues.StablePair Hook replaces fixed rates with dynamic rates, which adjust based on the degree of price deviation from the reference price within the pool. When the price is close to the reference price, the Hook adjusts the transaction fee for each trade to maintain a fixed bid-ask spread; when the price deviates from the reference range, trades that push the price away incur no fees, while trades that pull the price back to the reference price use a Dutch auction mechanism, with fees decreasing block by block from high to low until accepted by the trader. Uniswap Labs stated that this allows liquidity providers to retain more value from price returns.The first batch of StablePair Hook pools will go live on Ethereum, supporting USDC/USDG and USDC/USDT trading pairs. This Hook can be upgraded through Uniswap governance, and the fee system and other parameters can be adjusted without migrating liquidity.

Hunter Biden stated that the LAPTOP will release 4 million tokens to incentivize liquidity and will destroy 10 million tokens

Former U.S. President Biden's son Hunter Biden stated that the LAPTOP Foundation's X account has currently been suspended, and the team is attempting to restore the account. During this period, information will be published through Medium, and the foundation will not withdraw from the LAPTOP project. The accompanying statement mentioned that after establishing an initial liquidity pool of 0.05 USD per token, LAPTOP encountered significant demand and front-running bots, resulting in insufficient initial liquidity from market makers, which caused the token price to fluctuate violently before liquidity was replenished.To improve market liquidity, the team began injecting 4 million LAPTOP tokens into the Aerodrome liquidity pool as incentives starting from 0:00 UTC on September 10, accounting for 0.4% of the total supply. Additionally, two predicted events will settle with "YES," and 10 million LAPTOP tokens will be burned within the first week of launch, accounting for 1% of the total supply. The team stated that there was no presale of LAPTOP, nor were tokens allocated to investors, influencers, or KOLs; 30% of the tokens held by the founders are locked for 6 months and will be unlocked over two years, held in custody by Coinbase Custody, while another 30% allocated for the prediction mechanism is locked for 12 months.80 million LAPTOP tokens can be claimed by users who subscribed to Hunter Biden's Substack before September 6, with a claiming period of 30 days, and any unclaimed portion will be burned. Previously, Hunter Biden expressed that he did not gain any profits from LAPTOP amid the violent fluctuations after the token launch.
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