Tag: begins

Kraken Begins Notifying Customers It Will Send Their Data to the IRS This November

coiner

Cryptocurrency exchange Kraken is sending a letter to clients notifying them that after losing a lengthy court case, they will need to turn over sensitive data to the Internal Revenue Service (IRS) after a legal battle that began in May 2021. Surfacing on Reddit this week, the letter follows a summons from the IRS, and is part of an ongoing effort by tax authorities to access information related to cryptocurrency transactions. The IRS had initially demanded a range of records and data related to Kraken’s U.S. clients. In response, Kraken…

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Immutable zkEVM begins testnet phase with 12 Web3 games in development

coiner

Web3 gaming platform Immutable has commenced public testing of its Immutable zkEVM in collaboration with Polygon Labs. Work on the zero-knowledge Ethereum Virtual Machine (zkEVM) network began in March after Immutable announced a partnership with Polygon Labs. Polygon’s own “holy grail” Ethereum-scaling zkEVM hit mainnet on March 27.  In an Aug. 14 announcement, Immutable said its zkEVM will give game developers access to lower development costs and the security and network effects that come with the Ethereum ecosystem. In March, Immutable’s co-founder and president, Robbie Ferguson, said the zkEVM is aimed…

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Coinbase begins $150M debt buyback at 36% discount

coiner

Cryptocurrency exchange Coinbase will begin buying back up to $150 million of its 2031 senior notes for 64.5 cents on the dollar, a discount of 35.5%. According to the Aug. 7 announcement, the tender offer will last until Sept. 1, with an early premium of three cents on the dollar on top of the regular purchase price. The 2031 senior notes have a coupon rate of 3.625% per annum and a total principal balance of $1 billion. Last month, the exchange redeemed $65 million in convertible notes at a discount…

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