Blockfi logo

Delete the 1099-Misc. Re-enter and Follow Irene2805's instructions for entering the income . It goes on line 8 of Schedule 1, as "other Income" on a Form 1099-Misc. Enter the 1099-MiscOn the next screen Describe what the payment was forOn the next screen select "none of these apply"On the next screen select "No it didn't involve work like my main job"On the next screen select "I got it in 2020" ONLYOn the next screen select No, it didn't involve intent to earn moneyFrom BlockFi Website:If you’re a US taxpayer with reportable income, BlockFi may provide you with two separate reports related to your BlockFi Interest Account (BIA) and any trading activity you performed throughout the year.According to the IRS, earning income on crypto is considered a taxable event in the US, and cryptocurrencies are generally treated as property (similar to gold or shares in publicly owned companies) for tax purposes. That means that interest paid to you on crypto assets are payments of property, making them subject to reporting through the 1099-Miscellaneous (also known as the 1099-MISC) form. Please note, only US taxpayers who have earned more than $600 of interest and bonuses in 2020 will have a 1099-MISC form, which will be available for download by January 31, 2021.Additionally, US taxpayers who have traded during 2020 will receive a 1099-B form used to report activity. This report will be made available for download by February 15, 2021.

Crypto Evangelist, Anthony Pompliano launches a blockchain-focused jobs board Published: January 28, 2021 │ 6:32 PM GMT Crypto Evangelist, Anthony Pompliano launches a blockchain-focused jobs boardThe platform launches with three partners, Coinbase, Gemini, and BlockFiOver 100 jobs have already been advertised by its founding three partners Popular herald of the crypto industry Anthony “Pomp” Pompliano, has announced the launch of a blockchain-focused jobs board. Pomp who is also a partner at Morgan Creek Digital has gotten backing from Gemini, Coinbase, and BlockFi for the project.Back in August 2020, Pompliano’s Morgan Creek Digital led a $50 million investment round in crypto lender BlockFi. Crypto Jobs is Live The platform for the blockchain-focused jobs, PompCryptoJobs was announced on Wednesday, the same day it went live. At its launch, there were over 100 crypto-related job positions advertised by Gemini, Coinbase, and BlockFi.Similar to other job and freelance platforms, PompCryptoJobs.com is divided into two sections, one for job seekers and another for employers. The jobs posted on the platform would, however, be solely related to cryptos. Job seekers would need to register with their full name, email address, and password. They can also upload their resume for free on PompCryptoJobs. On the Flipside A man in California has been to prison for defrauding investorsThe U.S Department of Justice announced that Jerry Ji Guo was sentenced to six months in jail and would pay approximately $4.4 million in restitution for defrauding investors of over $20 million via a fraudulent initial coin offering schemeGuo, a 33-year-old presented himself as an initial coin offering consultant and promised to perform marketing and publicity services The Reason for PompCryptoJobs Pompliano announced that by launching the jobs board, he plans to take advantage of his large followership base to bring companies and job candidates together in a talent marketplace.He further explains that the platform seeks to create a seamless process of job search for individuals looking to enter into the crypto space. It will also help crypto employers by reducing the friction involved in choosing the best candidates possible.The crypto industry is growing at an immense pace. As a result,

On on-chain fees.“Whenever you put up a bid or ask, you either get that rate or better, depending on the clearing price per batch,” Osuntokun said.To start, payment channels will have a maximum leasing time of two weeks, or in Bitcoin time, 2016 blocks, though Osuntokun said they will diversify the leasing intervals to up to six months. Liquidity providers will receive fees up-front on their Pool account, but Lightning Labs hopes to implement a “per block interest rate,” wherein interest is paid out instantly to a provider’s Lightning wallet roughly every ten minutes with each new Bitcoin block.'LiFi': Lightning-native financial servicesLightning Labs is marketing the service as a flagship for Lightning Finance or “LiFi,” a way for Bitcoiners to generate non-custodial yield on their bitcoin holdings, as opposed to lending them through a custodian like BlockFi or turning them into wrapped bitcoin for DeFi yield farming.The service has been in a closed alpha with “many of the major exchanges, wallets, and service providers testing this in the background and to make sure it has enough liquidity on it when it launches.” The maximum order amount at launch will be 10 BTC, though Lightning Labs will raise this in the future once the platform has been sufficiently stress tested.“In our general style of being more cautious, right now the max account size is 10 BTC. Pool is still early and this isn’t DeFi; we don’t want them depositing a million dollars from day one.”Colin Harper, Blockspace MediaColin writes about Bitcoin. Formerly, he worked at CoinDesk as a tech reporter and Luxor Technology Corp. as head of research. Now, he is the Editor-in-Chief of Blockspace Media, and he also freelances for CoinDesk, Forbes and Bitcoin Magazine. He holds bitcoin.X icon

It hosts a multitude of machine coders and social media scrum-half. Earlier this month, owners of CoinDesk, Digital Currency Group, posted over 60 new job vacancies. Further buttressing the fact that the industry is growing at a fast pace.Pomp said in an interview; I think that there is an obvious need in the market right now. You’ve got millions of Americans and people around the world that are out of work, and millions more who want to transition from their existing job. Meanwhile, cryptocurrency companies are growing and hiring very fast, but there’s no single place where the job candidates and the employers can meet each other. The The Business Model for PompCryptoJobs The revenue model for PompCryptoJobs involves employers paying a monthly fee to list positions, Pomp explained. Depending on the nature of the job, the number of listings, and the company, employers will be charged between $200 and $2,500 monthly to list jobs on the platform.He expressed his delight that some leading names in the crypto industry, Gemini, Coinbase, and BlockFi, have already signed up to list jobs on the platform.He noted that “These three firms all represent the exact types of companies that I would want my friends and family to work at, so it was natural to kick this off with them.” This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss. Author Milko Trajcevski Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs).Location: Skopje, Macedonia Read more

Of DIP financiers under section 364(c)(1). So what does new section 507(e) do? It would say that stablecoin claimants have priority over the administrative expenses of the bankruptcy and employee claims and tax claims, but not over DIP financing claims, secured claims, or swaps and repos. As an initial matter, that’s just unworkable. The administrative claims–the lawyers and other bankruptcy professionals—-need to come first or they won’t do the work: you gotta pay the gravedigger. But once you do, notice the problem: there might not be anything left by the time the stablecoin claimants come up for payment. Remember that a stablecoin issuer isn’t likely to file for bankruptcy unless its peg has broken the buck. That’s doubly bad news for the investors. First, if the stablecoin has broken its peg, then it probably does not have enough assets to pay all of its creditors. So the order of priority really matters. If the issuer’s reserves include lots of swap and repos positions, the issuer’s assets could be cleaned out by counterparties. At that point the DIP financier and the professionals will gobble up what’s left. So please get a cup of coffee! This piece will reward your attention. By Adam Levitin, Professor of Law, Georgetown University. Originally published at Credit Slips In 2021 I posted a draft of an article about custodial risk in cryptocurrency that turned out to be quite prescient. At the time I wrote it, I got a lot of pushback from people in the crypto world that I was scaremongering and that crypto custodians were rock solid. I tried to explain to crypto investors that whatever they knew about crypto, they didn’t know bupkes about bankruptcy, and that if and when things went south, the custodial situation was going to be a hot, hot mess. And lo and behold, when Voyager and Celsius and BlockFi and FTX came along, a lot of crypto investors got slapped in the face by the workings of Chapter 11. Crypto investors found out that: (1) they were generally just unsecured creditors; (2) their claims were for dollars based on