The Crypto Roundup: 10 June 2024

Latest price and news from the crypto space

Latest price from our hand picked list of digital assets

American retail giant Walmart is reportedly on the hunt for a cryptocurrency product lead, according to a job ad posted on the company’s LinkedIn profile. The ad says the firm is “seeking a visionary leader” for the role.

The U.S. Treasury Department is reportedly going to be ignoring how the infrastructure bill defines a cryptocurrency broker. Citing an unnamed department official Bloomberg reports that Treasury won’t go after crypto entities that don’t meet the tax code’s “broker” definitions

A new paper released by Microsoft’s research department with the participation of researchers from Alibaba and Carnegie Mellon University reveals the tech giant is looking into a blockchain-based incentive system to bolster anti-piracy campaigns.

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Top stories in the Crypto Roundup today:

Retail Giant Walmart to Hire Cryptocurrency Product Lead
U.S. Treasury Reportedly Won’t Go After Crypto Entities Based on Infrastructure Bill
Microsoft Studies Using Ethereum to Fight Piracy
Daily Movers – SOL, LUNA, DOGE
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Retail Giant Walmart to Hire Cryptocurrency Product Lead

The person would create a cryptocurrency strategy for the store. The ad says they would be “responsible for developing the Digital Currency strategy and product roadmap” and adds:

"As an expert in Digital Currencies/ Cryptocurrency and Blockchain related technologies, you will drive the vision for the product and capabilities roadmap."

From the ad, it isn’t clear what products Walmart is looking to launch. The ad comes weeks after rumors suggested Walmart rival Amazon was looking to enter the cryptocurrency space.

U.S. Treasury Reportedly Won’t Go After Crypto Entities Based on Infrastructure Bill

The U.S. Treasury Department is reportedly going to be ignoring how the infrastructure bill defines a cryptocurrency broker. Citing an unnamed department official, Bloomberg reports that Treasury won’t go after crypto entities that don’t meet the tax code’s “broker” definitions

More guidance on the matter is set to come in the near future, and could soothe the crypto industry’s fear that the Senate’s efforts to tax “any service effectuating transfers of digital assets on behalf of other persons” could affect crypto miners and developers and force industry participants to move out of the country.

Some in the industry point out that the bill’s definition of a broker could force some entities in the space to report information they do not have the ability to collect. In a joint statement the Blockchain Association, Coinbase, Coin Center, Ribbit Capital, and Square expressed concern over the language included in the infrastructure bill, as it will place “unworkable requirements on crypto technology.”

The Treasury statement reportedly provides a workaround by limiting the bill’s scope to those classified as brokers under the tax code.

Last week, Congresswoman Anna Eshoo (D-Calif.) sent a letter to Speaker Nancy Pelosi (D-Calif.) asking to amend the cryptocurrency tax provision included in the Senate’s infrastructure bill. Eshoo wrote that the current definition of the term “broker” may be too broad.

Microsoft Studies Using Ethereum to Fight Piracy

The research paper, titled “Argus: A Fully Transparent Incentive System for Anti-Piracy Campaigns,” details a new system that relies on the transparency aspect of blockchain technology.

The system, Argus, would be built on Ethereum and provide a trustless incentive mechanism while protecting data collected from an open, anonymous population of piracy reporters. Argus enables backtracing of pirate content to its source through a watermark algorithm.

Each report of leaked content would involve an information-hiding procedure, and the system would include safeguards to prevent the same leaked content from being reported over and over again.

Addressing Ethereum transaction fees, the team of researchers optimized cryptographic operations “so that the cost for piracy reporting is reduced to an equivalent cost of sending about 14 ETH-transfer transactions to run on the public Ethereum network, which would otherwise correspond to thousands of transactions.”

Daily Movers – SOL, LUNA, DOGE

Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Solana (SOL) – Solana is a high-performance blockchain founded by former Qualcomm, Intel, and Dropbox engineers that uses a delegated Proof-of-Stake (dPoS) consensus algorithm. The network uses a unique method of ordering transactions to significantly improve its speed and throughput.

Dogecoin (DOGE) - Dogecoin is a cryptocurrency created in 2013 inspired by the Shiba Inu dog meme. Since then its community has s sponsored multiple high-profile events such as Nascar teams and the winter Olympics and made headlines throughout the world.

Terra (LUNA) - Terra aims to build a new financial infrastructure that works better for everyone. The network is powered by a family of stablecoins, each pegged to major fiat currencies all algorithmically stabilized by Terra’s native token, Luna. Terra’s mission is to set money free by building open financial infrastructure. ) -

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