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 MUST READS 

Mastercard, Visa, eBay Drop out of Facebook's Libra Payments Network


It's official – Facebook's biggest recruits have bailed on Libra.

These recent moves have threatened to derail the controversial project, which had ambitions to remake global finance, before it even got the chance to get off the ground. Here's really why it hurts.

What's next?

Mr. ZuckBucks himself still has to testify before Congress later this month... and he's forming a governing council to help fight this seemingly steep uphill battle.
 

Bakkt is Looking to Beat CME to the Punch on Options Tied to Bitcoin


Bakkt is looking to get into the bitcoin options business. The firm wants to beat CME to it, who are eyeing a Q1 2020 launch for their own bitcoin options contract.

Although we shouldn't expect bitcoin options contracts to dramatically change the market, the race for options between the CME and Bakkt is still worth watching.

Bitcoin options will likely attract more institutional investors... and ultimately bridge the gap even closer between the crypto and the traditional finance community.

Oh, and speaking of Bakkt – The trading volume of their futures products surged to 224 contracts on October 9. That represented a 796% increase from the previous day.

Slow start, yes... but there's still plenty of room for growth.
 

Cryptocurrency Investors Get New IRS Income-Reporting Rules


The U.S. Internal Revenue Service (IRS) has published its first guidance in five years for calculating taxes owed on cryptocurrency holdings.

The crypto community has been eagerly awaiting the update since May 2019, when IRS Commissioner Charles Rettig said the agency was working on providing fresh guidance. The agency’s 2014 guidance left many questions unanswered, and the crypto market has clearly grown more complex in the years since.

Here's what the new guidance covers:
  • Tax liabilities created by cryptocurrency forks
  • Acceptable methods for valuing cryptocurrency received as income
  • How to calculate taxable gains when selling cryptocurrencies
It's also worth mentioning, the IRS will now ask if you own crypto in the most widely used US tax form – Form 1040.
 

 SPONSORED 

Blockchain… Biotech… Pot stocks


It’s 2019…

What are the wealthiest people in the world doing with their money?

Money Revealed tackles that question head-on… in a format you’ve never seen before.

Check out the trailer to see what it’s all about.

>> Watch the Money Revealed Trailer

 

 DEEP DIVE 

How to Read Onchain Data (Part 1)


Ryan Sean Adams from Bankless just published a guide to help average joe's like you and me understand onchain data. Epic stuff.

In his own words: Learn the basics of interpreting onchain data for ETH and BTC using key metrics provided by CoinMetrics. Evaluate these metrics on a regular basis to reassess and understand the fundamentals of your crypto money bets.
  • Goal: Learn how to interpret onchain data for ETH and BTC using CoinMetrics
     
  • Skill: Intermediate
     
  • Effort: 1 hour
     
  • The result: Make better cryptoasset money bets based on fundamental metrics

What Kills Crypto Projects: Analyzing Deadcoins


With Halloween approaching, it seems like an appropriate time to take a peek into the crypto industry’s graveyard. Even in an industry as young as crypto, plenty of projects have already died, and sites like Coinopsy and DeadCoins are providing crowd-sourced autopsy reports.

Get all the data right here...

CoinGecko's Q3 Quarterly Report is out! 🔥


Go ahead and snag CoinGecko's 2019 Q3 Report while its hot. It includes market stats, insights, primer/guides on derivatives, and a DeFi segment featuring some of our favorite projects.
 

Research Paper: A Model for Bitcoin’s Security and the Declining Block Subsidy


This monster paper from Hasu, James Prestwich, and Brandon Curtis is one of the most sophisticated analyses conducted to-date on Bitcoin's economic security model. Well worth a read.
 

 SPONSORED 

Big News from Trading Legend Jeff Clark


For the past 36 years, Jeff has used options to help people make millions of dollars.

So you may be surprised to hear that he's making a big change.

For the first time, he's telling people to start trading a small group of tiny stocks. That’s right… not options, but stocks. Why is he making the switch? After all, don’t options offer you the biggest bang for your buck?

He explains everything here…
 

 REGULATORY FRONT 

Bitwise's Bitcoin ETF Disapproved by SEC


What do ya know, another ETF rejection by the SEC. While we all were expecting this decision, we weren't expecting the SEC to drop a super-detailed 112-page explanation.

This is our favorite summary of it all, courtesy of @Rptr45. Pretty interesting take on Bitwise's ignorance.

Of course, Bitwise intends to refile in the near future.

 

SEC Halts Telegram's $1.7B ICO


Last week, the SEC filed “an emergency action and obtained [a] temporary restraining order” against two offshore entities behind Telegram’s TON digital token offering.

More details here.

 

 TWEET OF THE WEEK 

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