Crypto Highlights

Published in

WhiteBIT

4 min readSep 11, 2020

📆It’s time for our crypto highlights again! Let’s take a look at what has been going on on WhiteBIT and in the world of crypto lately.

🔍So, what’s new on WhiteBIT?

Over the last two weeks we have listed the following assets:

On the 14th of September, we will list 11 DeFi tokens paired against USDT and RUB.
Guess what assets we are talking about and win $550!
All you need to do is like this post, retweet it, and leave your guesses under it.
We will select 5 random winners among those who guessed more than 6 tokens correctly.
You’ve got time from the 9th of September till the 14th of September(12:00 UTC).

Our Margin Trading is very important for us, that’s why we’re working on improving it all the time.
The centerpiece of this update is the Trigger-Stop Orders.
Trigger-Stop Orders are executed when the set price is met.
They help users to be sure that they won’t miss the right time for selling or buying assets.
The coolest thing about them is that the necessary funds aren’t locked on your Balance when a Trigger-Stop Order is placed.
Give the new tool a go and start earning on Margin Trading!

🌍What’s new in the world of crypto?

Chainalysis’ 2020 Global Crypto Adoption Index, released Tuesday, ranks 154 countries based on their cryptocurrency adoption.
The crypto adoption index is made up of four metrics, calculated by estimating total cryptocurrency received by that country and weighting the on-chain value based on PPP per capita, which is a measure of the country’s wealth per resident.
According to Chainalysis, Ukraine ranks first, followed by Russia, Venezuela, China, Kenya, the U.S., South Africa, Nigeria, Colombia, and Vietnam.
Of the 154 countries analyzed, only 12 had “very little” crypto activities and are ranked the lowest, Chainalysis detailed, adding that the countries are Afghanistan, Algeria, Cape Verde, Chad, Fiji, Laos, Libya, Mongolia, Tajikistan, Turkmenistan, West Bank and Gaza, and Zimbabwe.

The past weeks have been very eventful for the entire cryptocurrency space as DeFi becomes the hottest word on everyone’s lips.
The DeFi surge has been welcomed with a stunning interest with an all-time high of $9.51 billion locked in the protocol as of September 2, according to DeFiPulse.
ETH’s price has been a fair reflection of the DeFi explosion, while a massive feat has been pulled by SaTT blockchain project.
The month started off on a good note for SaTT as the blockchain-based digital advertising project announced the completion of its Initial Coin Offering (ICO) softcap at $3,360,000.
Since its launch in 2018, SaTT has been resilient in speeding development with regards to delivering a workable advertising product.

The IRS issued new guidance clarifying how cryptocurrencies are treated for tax purposes when they are received in exchange for certain services.
The tax agency recently released a memorandum stating that an individual who receives digital currency through a crowdsourcing platform in exchange for providing a service should report the convertible virtual currency as ordinary income.
The IRS noted that convertible virtual currency received for these tasks, regardless of how small — noting that sometimes payment is for less than $1 — is taxable as ordinary income.
The IRS has begun cracking down on taxpayers who owe on virtual currency transactions. Last year, it sent letters to 10,000 taxpayers who may have had tax liabilities.
Taxpayers who fail to pay the taxes they owe on their virtual currency transactions can be subject to penalties and interest — in more serious cases even criminal prosecution.

In a surprising turn of events, SushiSwap’s former head, anonymously known as Chef Nomi on Twitter, has apologized for their mistakes and returned $14M to the project’s development fund.
On Sept. 6, news broke that Nomi had given FTX exchange CEO, Sam Bankman-Fried, control over the SushiSwap project — but not before taking approximately $13 million with them.
The funds, which Nomi alone controlled, were from a $27 million dollar developer fund that was meant to buoy the nascent project.
Nomi returned the funds, apologizing to the community as a whole, as well as to several individuals.
The former Sushi leader additionally said that they would like to continue helping to develop the project’s tech from behind the scenes.

WhiteBIT Team

Written by Anna Ratieva