Massive Crypto Capital Outflow Expected by Tom Lee

Head researcher of Fundstrat reports that US citizens owe $25B in taxes for their crypto holdings, and the last tax day is 17th of April
06 April 2018   365

Analyst of Fundstrat Tom Lee expects that the "massive outflow" of capital from the cryptomarket can accelerate on the eve of the last day of paying taxes in the US. This is reported by CNBC.

American traders owe their state about $ 25 billion in taxes from the income they received as a result of operations with cryptocurrencies, Lee reports. In addition, the cryptocurrency exchange should also pay off the state, some of which may also try to liquidate their assets in the coming days.

This is a massive outflow from crypto to USD and historical estimates are each $1 of USD outflow is $20-$25 impact on crypto market value. Additionally, we believe there is selling pressure by crypto exchanges who are subject to income tax in U.S. jurisdictions. Many exchanges have net income in 2017 [of more than] $1 billion and keep working capital in [bitcoin]/[ethereum], not USD — hence, to meet these tax liabilities, are selling BTC/ETH.
 

Tom Lee

Head of research at, Fundstrat

The crypto market experienced a 50% drop in the first quarter of 2018, and for Bitcoin and Ethereum it turned out to be the most unsuccessful first quarter in history.

Regulatory headline risk is still substantial. And sentiment remains awful, as measured by our bitcoin misery index, which is still reading misery. Ultimately, we expect bitcoin to find footing after April [17], tax day.
 

Tom Lee

Head of research at, Fundstrat

Earlier, Lee assumed that the bitcoin rate would reach $ 91,000 by March 2020, basing his forecast on market indicators after periods of decline in the past. 

Change.org to Mine for Charity

According to the calculations, if 10k computers will run the minning screensaver for 12 hours a day, the charity fund will receive $10k monthly
18 July 2018   97

Social platform for petitions Change.org announced the launch of a screensaver that mines Monero on users' computers. All tokens will be transferred to the charity fund of Change.org. This is reported by Coindesk.

This initiative was launched in partnership with the marketing agency Tracelocke Brazil.

Representatives of Change.org report that the screensaver will consume resources only when users do not use the computer. According to their calculations, if 10 thousand computers will run the screensaver for 12 hours a day, the charity fund will be transferred $ 10 thousand monthly.

At the moment the program is available only for Windows users and the platform did not report on the release plans for the version for macOS.

Note that at the end of April, a similar action was launched by the Australian unit of the United Nations International Children's Emergency Fund; (UNICEF). The website "Page of Hope" mines Monero cryptocurrency.