Key Points
FTX’s Payment Plan Is Now Live — When Will Users See Their Funds?
Developers Claim Solana Is Now Quantum Resistant
IRS issues temporary relief on cryptocurrency cost-basis method change
FTX went bankrupt in 2022, and its reorganization plan took effect on January 3. The plan provides 98% of users with 119% of the declared value of their funds. Claims must be made through the official FTX website, which warns users to beware of phishing scams. Critics argue that the valuation based on 2022 prices ignores changes in the cryptocurrency market. Distribution companies such as BitGo and Kraken aim to help process about $16 billion in payments, marking a major step for FTX's solution.
Solana developers created the "Solana Winternitz Vault" to provide users with optional quantum-resistant security. The vault uses a hash-based signing system that generates new keys for each transaction, reducing the risk of quantum computer attacks. To protect their funds, users must opt into the vault instead of using a regular Solana wallet. While Ethereum is also working on developing quantum-resistant solutions, Vitalik Buterin said such threats are unlikely to affect average users for decades.
The IRS has delayed enforcement of a rule that would have defaulted cryptocurrency holders on centralized exchanges to the FIFO (first-in, first-out) accounting method for calculating capital gains. The temporary relief, which is in effect until December 31, 2025, allows taxpayers to keep their preferred accounting method, such as HIFO or Spec ID. Experts warn that FIFO could inadvertently increase tax burdens during bull markets by selling older, lower-cost assets first. Meanwhile, legal challenges to the IRS rules against brokers and decentralized platforms continue, with stricter requirements set to kick in in 2027.
news
FTX ’s Payment Plan Is Now Live — When Will Users See Their Funds?
VanEck Research Director: The probability of Solana ETF listing in the United States in 2025 is as high as 77%
As Bitcoin Price Approaches $100K, ‘X Money’ Leak Reveals Musk’s Game-Changing Plan
Terraform co-founder Do Kwon appears before US judge, pleads not guilty
product
Solana Developers Claim Solana Is Now Quantum Resistant
Crypto wallet Phantom confirms it will not launch token amid airdrop rumors
Telegram will allow users to convert digital gifts into tradable TON NFTs
PUBG creators ‘haven’t even considered’ NFTs for upcoming metaverse: report
Regulation
IRS Issues Temporary Relief for Cryptocurrency Cost Basis Method Change
Singapore to become Asia's next crypto hub, implements 'risk-adjusted' regulation
China tightens cryptocurrency trading regulations with new foreign exchange rules
Malaysia’s securities regulator orders Bybit to cease operations
funds
Hong Kong Legislative Council proposes to include Bitcoin in national reserves
Cryptocurrency venture funding is expected to reach $18 billion in 2025, after recovering to $13.6 billion in 2024
BIO Protocol leads DeFi funding with $64.41 million in public sale
Blockchain Founders Fund raises $75 million to invest in Web3 and blockchain startups
