This Week in the News - January 23

1. The IRS kicks off the 2023 tax filing season with returns due April 18–The article announces that the IRS (Internal Revenue Service) has started the tax filing season for 2023, and the returns are due on April 18. The IRS reminds taxpayers that under the CARES Act, certain taxpayers have an additional year to pay taxes and extend the deadline for certain tax payments. The IRS also reminds taxpayers that the tax filing deadline gives them an additional three months to file their return, but any taxes owed must be paid by the April 18 deadline. The article also highlights the resources available for taxpayers, including the IRS Free File program, which allows eligible taxpayers to file their federal taxes for free, and the Volunteer Income Tax Assistance (VITA) program, which provides free tax help to people who generally make $57,000 or less. (source)

2. ‘Apple’ of L1’s: Solana Token Jumps More Than 110% in 30 Days–The article discusses how the price of the Solana token, a cryptocurrency, has increased by 110%. It attributes the jump in price to increased interest and adoption of the Solana blockchain network, which is being used for a variety of decentralized applications and has seen a significant increase in transactions. The article also mentions that Solana's unique architecture allows it to process a high number of transactions per second, making it a popular choice for decentralized finance (DeFi) projects. (source)

3. The Next Bankruptcy Domino May Be Genesis–The article discusses the financial troubles of Genesis Global Trading, a cryptocurrency trading firm, and speculates that it may be the next company to file for bankruptcy in the wake of the recent filing by crypto exchange BitMEX. The article notes that Genesis has faced a number of financial challenges, including a decline in trading volume and a drop in the value of the cryptocurrencies it holds. Additionally, the company has faced legal troubles, with regulatory agencies and other organizations investigating its practices. The article suggests that the company's financial struggles may be indicative of broader issues in the crypto market, and that other companies may also be at risk of bankruptcy. (source)

4. Coinbase Follows Kraken to Japan Exit–The article discusses Coinbase's decision to withdraw its services from Japan, which it attributes to the country's challenging regulatory environment. Coinbase, a leading cryptocurrency exchange, had previously entered the Japanese market through a partnership with a licensed financial institution. However, the article suggests that the partnership has not been successful and that Coinbase has been unable to obtain a license from Japan's financial regulator. The article notes that Coinbase's decision to exit Japan follows similar moves by other crypto exchanges, including Kraken, which also left the Japanese market due to regulatory challenges. (source)

5. NFT Collection Doodles Acquires Emmy-Nominated Animation Studio– The article discusses an acquisition made by Doodles, a collection of non-fungible tokens (NFTs), of an Emmy-nominated animation studio. The studio will be used to create new NFTs for the collection, which will include animations, short films, and other digital media. The article notes that this acquisition is a significant move for Doodles, as it expands its offerings and positions the collection for success in the rapidly growing NFT market. The article also points out that the acquisition of an Emmy-nominated studio is a major win for Doodles, as it brings a level of prestige and credibility to the collection. (source)

6. FBI Confirms North Korea Behind $100 Million Harmony Hack–The article discusses an FBI investigation of a hacking incident on blockchain-based platform, Harmony Bridge, which is believed to be orchestrated by the North Korean hacking group, Lazarus. The hackers were able to steal a considerable amount of cryptocurrency from the platform, using a phishing scam to trick users into providing their private keys. The FBI has reportedly been able to trace the stolen funds to a Lazarus-controlled wallet, and is working with other law enforcement agencies to try to recover the stolen funds. The FBI has warned that the Lazarus group is known for their sophisticated hacking tactics and urged individuals and organizations to be vigilant in protecting their digital assets. (source)