Chinese Photo Editing App Meitu Discloses $40M Crypto Purchase – March 8

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $49,950

Bitcoin price broke the $50,000 mark once again over the weekend, now hovering slightly below the key level going into Monday.

Top-20 altcoins are very stationary over the last 24 hours of trading, as Ethereum gains less than 1%, XRP rises 3%, and THETA is the biggest gainer with a gain of 9%.

Top Stories for March 8, 2021 πŸ”₯

πŸ‘‰ Chinese Photo Editing App Meitu Discloses $40M Crypto Purchase

Chinese photo retouching app company, Meitu, has disclosed purchases of Bitcoin (BTC) and Ether (ETH) totaling $40 million.

The exact amount of crypto within the purchases included 15,000 ETH and 379.12 BTC, under a company investment plan which permitted cryptocurrency purchases up to $100 million.

Meitu is one of the most popular mobile apps in China, with a market cap of around $1.5 billion. According to reports, the company is also exploring launching an Ethereum-based app.

πŸ‘‰ IRS Launches Program To Uncover Unreported Crypto Income

The US Internal Revenue Service (IRS) has announced “Operation Hidden Treasure”, a program focused on finding unreported cryptocurrency-related income.

The program will train agents to pinpoint tax evasion on blockchain public ledgers, in a joint effort between the IRS’s civil office of fraud enforcement and criminal investigation unit.

πŸ‘‰ Uniswap’s UNI Token Becomes First DeFi Token In Top 10

Uniswap’s UNI governance token has soared over 50% within a single week, earning the token a place in the top-10 cryptocurrencies ranked by market cap.Each UNI token is now valued at more than $33, giving it a total market cap of around $17 billion.

The surge has coincided with rumors that the decentralized exchange’s V3 upgrade may soon be launched.