Crypto NFT Today: October Week 4

Welcome to another edition of Crypto NFT Today! The past two weeks have been full of must-know events that will define the future of blockchain, cryptocurrency, and NFTs.

With Italy’s finance minister talking about the tax raise on crypto, the Binance founder making his return to the public, and more, there’s lots of essential news you should know about. So, let’s dive in and see what’s happening! 

Italy’s Finance Minister Talks Tax Raise on Crypto

Italy’s finance minister on Thursday defended his decision to increase taxes on cryptocurrency capital gains in next year’s budget, despite opposition from some lawmakers within his party.

Giancarlo Giorgetti emphasized that savers should differentiate between investments that support real-world projects and cryptocurrencies, which he noted have values entirely disconnected from underlying assets.

Binance Founder Makes His Return

Binance founder and former CEO Changpeng Zhao received an enthusiastic welcome from a packed crowd upon his return to the crypto scene after his release from a U.S. prison.

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At Binance Blockchain Week, attendees crowded together to hear Zhao, known as “CZ,” make his first public appearance since his release last month. He recently completed a four-month sentence after pleading guilty to violating the Bank Secrecy Act while leading the exchange.

Ether Price Slips 

Cryptocurrency prices and related stocks declined broadly on Thursday, as traders appeared to scale back long positions following recent price surges.

After falling short of its record high above $73,700 overnight, Bitcoin (BTC) slipped below $71,000, marking a 2% decrease in the past 24 hours. Many altcoins in the CoinDesk 20 Index saw even steeper declines, with Ethereum’s ether (ETH) dropping 6% and Aptos (APT) and Render (RNDR) each down 5%. The CoinDesk 20 overall fell 2.8%. Bitcoin’s market dominance, which tracks its share of total cryptocurrency market capitalization, rose to a new three-year high of 60.2%, according to TradingView data.

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