Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

TST Token Skyrockets 4700% After Unintentional Leak by BNB Chain Team Member

In an astonishing turn of events, the token $TST , created by a member of the BNB Chain team , saw an explosive surge of 4700% in just 30 minutes. This sent shockwaves through the cryptocurrency community. The token’s meteoric rise has drawn the attention of traders and investors, resulting in an influx of market activity. The sudden spike has garnered significant attention from Binance CEO Changpeng Zhao (CZ), who has weighed in on the situation. And what does CZ think of the recent surge? He described the situation as a “tricky one.” A Surprising Surge: The Unintentional Leak and Its Impact We can attribute the $TST token’s meteoric rise to an unanticipated development. A member of the BNB Chain team launched the token while working on an educational video. That video, initially, was intended to show users how to launch a meme token on the Four.meme platform. In the process of making the video, the team came up with the idea of utilizing a meme token to teach viewers about the token launch process. And so, they created $TST and launched it. Nevertheless, an unanticipated turn of events occurred during the video’s release. At the moment marking 1:18 in the video, the name $TST was revealed by accident, igniting curiosity among traders who pay close attention. The inadvertent unveiling was promptly recognized by a very observant trader, who—going strictly by the wallet address (0xeBB…74711c) with which they are associated—saw an opportunity and moved valiantly into the market to effectuate the purchase of $TST. The trader spent $35,000 on the asset in question, doing so just moments before CZ would make the tweet that sent the price of $TST soaring. This rapid action reaped rich rewards for the trader, whose $35,000 investment leapt up like a jack-in-the-box to a staggering $657,000 profit in probably five minutes or so—given that it was only five minutes before one famous industry leader tweeted about the situation. Not only did that industry leader’s tweet pack a big market-moving punch, but it also surely sent more traders into the marketplace to engage with the good ol’ buy/sell dance. More trading, more price movement, more profit for the trader. The Role of CZ and the Community’s Response The situation with $TST saw a further increase in demand due to a tweet from Binance founder Changpeng Zhao. Although Zhao did not directly endorse the token or its creation, he managed to draw even more attention to it—attracting the eyes of the crypto community to the burgeoning demand for $TST. In his now-famous tweet, he described the situation as “tricky,” recognizing that the rapid price appreciation of the token resulted from events no one caught on to in advance. The sudden increase in trading volume and price caused a rapid surge in market cap over $30 million. In just 30 minutes, the $TST token amassed a staggering $14 million in trading volume, adding to the intrigue of this sudden event. The BNB Chain team member responsible for the leak has remained quiet, but the crypto community has been discussing the event non-stop. The trader who first moved quickly has now become the largest holder of $TST, with a total of 28.82 million tokens under their control. This position undoubtedly makes them the leader in $TST holdings, a position that has earned them some significant attention in both the crypto community and the media. Here are the percentage of total supply holdings of the top 10 largest wallets for four of the largest altcoin market caps in crypto: Shiba Inu $SHIB : 61.3% of Supply Ethereum $ETH : 46.1% of Supply Chainlink $LINK : 33.1% of Supply Toncoin $TON : 32.8% of Supply… pic.twitter.com/RY5uUcbKI8 — Santiment (@santimentfeed) February 7, 2025 The Ongoing Impact on $TST and the Meme Token Landscape The $TST token’s recent and almost vertical rise has become the center of a lot of recent discussions, bringing forth important queries concerning the risk exposure and possibly lucrative returns of a trading system as erratic as that of the cryptocurrency market. Those discussions have, in turn, called forth from the deep recesses of my memory some lessons learned during (and after) the virtual gold rush that was Bitcoin. I’ll recap a few of those lessons here, along with the conversations they have ignited. Currently, talk about the $TST token centers on its being a part of the meme token landscape. Its meteoric rise has rekindled interest in meme tokens and placed them back in the conversation when speaking about tokens and crypto presently. Many traders and investors are looking at $TST hoping to find a next opportunity in an often-turbulent, unpredictable sector. Whether they will find what they are looking for remains to be seen, but as of now, the $TST token is conversation-worthy in the space. While the cryptocurrency world rapidly evolves, the story of $TST reminds us of how fast fortunes can change in the digital asset space. At present, observers can only wait to see whether $TST will keep ramping up after its 4700% increase or will retreat to a lower level after the summertime fun fades. Whatever happens next, the $TST story’s crystal-clear lesson is this: pay attention to the crypto market. In the digital asset world, even the tiniest detail can and does make a huge amount of difference. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: aifarm/ 123RF // Image Effects by Colorcinch The Coin Rise

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Trump Memecoin May Face Future Tax Challenges, Says Cryptocurrency Tax Platform

Trump Memecoin and Tax Implications: FinTax Warns of Future Challenges The launch of Donald Trump’s memecoins , including TRUMP , has sparked widespread interest in the cryptocurrency world. However, according to a report by cryptocurrency tax platform FinTax , these tokens could encounter tax-related challenges in the future. The report, shared on X, highlights the complexities of calculating capital gains taxes for volatile assets like TRUMP. As memecoins continue to rise in popularity, their rapid price fluctuations and unique characteristics pose significant difficulties for tax compliance and reporting. Understanding Capital Gains Tax in Crypto Cryptocurrencies, including memecoins, are treated as capital assets for tax purposes in many jurisdictions, including the United States. Capital Gains Tax Basics Cost Basis: The cost basis is the original price paid for the asset, which serves as the reference point for calculating taxable gains or losses. Capital Gain or Loss: If the asset is sold for more than the purchase price, the difference is a taxable gain. If sold for less, it results in a deductible loss. Short-Term vs. Long-Term Gains: Short-term gains: Held for less than one year, taxed at ordinary income rates. Long-term gains: Held for more than one year, taxed at lower rates. Challenges with Memecoins Like TRUMP 1. Price Volatility The highly volatile nature of TRUMP and similar memecoins creates significant challenges in determining the cost basis . Example: If an investor purchases TRUMP during a price spike and the price drops sharply before being sold, the calculation of capital gains becomes complicated. 2. Tracking Transactions Frequent trading, which is common with memecoins, results in numerous transactions that need to be tracked for accurate tax reporting. 3. Airdrops and Token Allocations Some memecoins are distributed through airdrops or other mechanisms, further complicating tax calculations. FinTax Analysis: “Airdropped tokens are often valued at the time of receipt, but volatile prices can make this value difficult to establish accurately.” 4. Lack of Regulation The absence of clear regulatory guidelines for cryptocurrencies in the U.S. adds another layer of complexity to tax compliance for assets like TRUMP. Potential Tax Issues for TRUMP Memecoin Investors Misreporting Cost Basis Investors may struggle to determine the correct cost basis for TRUMP due to frequent price swings. Errors in reporting can lead to penalties or audits. Short-Term Trading Taxes Memecoins are often traded quickly for short-term profits, resulting in higher tax rates on gains. Loss Deduction Limits Taxpayers can only deduct capital losses up to $3,000 per year against ordinary income, potentially leaving large losses unused. Cross-Border Taxation TRUMP’s global appeal may result in tax complications for international investors, particularly in countries with different crypto tax laws. FinTax’s Recommendations FinTax advises both individual investors and regulatory bodies to address the unique challenges posed by memecoins: 1. For Investors Maintain Detailed Records: Track all transactions, including purchase price, sale price, and dates. Use Tax Software: Cryptocurrency-specific tax platforms can automate calculations and ensure compliance. Understand Tax Obligations: Consult with a tax professional to avoid misreporting. 2. For Regulators Clear Guidelines: Establish straightforward rules for calculating cost basis and reporting gains for volatile assets like TRUMP. Education Campaigns: Inform the public about crypto tax responsibilities to reduce errors and non-compliance. Comparing TRUMP to Other Cryptocurrencies Aspect TRUMP Memecoin Traditional Cryptocurrencies Volatility Extremely high Moderate to high Cost Basis Complexity High Moderate Tax Reporting Challenging Relatively easier Regulatory Clarity Limited Growing The Role of Volatility in Crypto Taxation 1. Impact on Tax Burden High volatility can lead to unexpected tax liabilities when gains occur during rapid price increases. 2. Realized vs. Unrealized Gains Taxes are only due on realized gains (when the asset is sold), but tracking unrealized gains is essential for planning. 3. Risk of Overpayment or Underpayment Miscalculations due to volatile prices increase the risk of overpaying or underpaying taxes. Conclusion The launch of TRUMP memecoin highlights the growing influence of cryptocurrencies on financial markets, but it also underscores the challenges of navigating tax obligations in this unregulated space. FinTax’s warning serves as a reminder for investors to prioritize accurate record-keeping and consult professionals to avoid costly mistakes. As the cryptocurrency market evolves, both investors and regulators must adapt to its complexities, ensuring a balance between innovation and compliance. To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news , where we delve into the most promising ventures and their potential to disrupt traditional industries. The Coin Rise