MetaMask Partners with CoinLedger for Simplified Tax Reporting; Slerf Launch Burns $10M of Solana
Summary:
Crypto wallet MetaMask has partnered with tax reporting software CoinLedger, aiming to ease tax filing for its users. A developer accidentally burned $10 million worth of Solana during the launch of the memecoin, Slerf, yet the coin still achieved a $500 million market cap within hours. Despite growing speculation, a local finance executive has suggested that the Qatar Investment Authority is unlikely to invest in Bitcoin.
CoinLedger, a crypto tax reporting software, and MetaMask have entered into a partnership intending to simplify tax filing for MetaMask's 30 million active users. A developer, unfortunately, found himself amidst meme hysteria when he unintentionally destroyed Solana worth more than $10 million. However, he was not at a financial loss for long. On the other hand, a finance executive has informed Cointelegraph that the Qatari sovereign wealth fund is unlikely to invest in Bitcoin (BTC) in the near future.
MetaMask, a self-custody wallet, recently partnered with CoinLedger to allow its users an easier way to file their taxes. As per the announcement made on March 18, Metamask users can seamlessly connect their accounts to CoinLedger, thus enabling them to import their transaction history into the tax reporting software. The CEO of CoinLedger explained that users can now synchronize their portfolios directly with CoinLedger, followed by the generation of tax forms straight from MetaMask portfolio.
When it comes to meme coins, one that has caught the attention of the crypto sphere is Slerf. The project's creator accidentally burned Solana valued at over $10 million prior to the launch. Despite this unfortunate incident, the meme coin was still launched and astonishingly achieved a market cap of $500 million within hours. In a bid to clear their wallet, the developer, unfortunately, lost $10.4 million worth of Solana tokens.
Moving over to Qatar, despite persisting rumors, the Qatar Investment Authority (QIA) may not be looking to include Bitcoin in its portfolio as per a local finance executive. The executive dismissed the likelihood of QIA investing in Bitcoin by explaining the fund's diverse investment strategy that is designed to decrease risk and capitalize on different markets and industries. He also mentioned that even though cryptocurrencies enjoy worldwide popularity, their adoption remains quite low in Qatar.
The interest of Qatar in Bitcoin started gaining traction after the successful launch of spot Bitcoin ETFs in the USA. Despite not containing any investment guidance or recommendations, they have enticed institutionalized attention. Please note, every investment and trading move carries some risk, so it is advisable for readers to carry out their own due diligence.
Published At
3/18/2024 10:35:09 PM
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