“In this world nothing can be said to be certain, except death and taxes.”  Benjamin Franklin
ONE TO WATCH…
This week’s ICO/pre-sale to watch has attracted high interest on ICO Drops. Keep Network provides a privacy layer for public blockchains like Ethereum. Its network aims to keep the private data off the public blockchain and will interact with public network using smart contracts.
Token Sale Summary for March: 
From the preliminary March ICO numbers from Tokendata, there was a significant slowdown in fund raising activity in March vs Feb 2018:

  • $0.7 billion raised from 53 projects, down from $1.2 billion in February
  • 60% of the capital was raised in private rounds – reflection of US regulation
  • The above numbers are without the Telegram pre-sales numbers as the official announcement has not been made yet. If you include Telegram numbers, they raised $850 million in both February and March, which also increases the % of private rounds much higher.
  • The top 5 ICOs that raised the most money in March include Celsius ($50M), Leadcoin ($50M), Endor ($45M), Yggdrash ($40M), TrakInvest ($33M).
Market Review & Top Crypto Movement for the week

Q1 2018 had one of the most vicious sell offs in the crypto sector, down 59% in total market cap. However, to keep things in perspective, the total market value is still higher than end of Oct 2017.
BTC continued its market dominance at 48% of total crypto market cap – highest this year, on continuing alt coin bear market.
Top 5 gainers last week – in top 100 coins – two of these coins (Mithril, Ontology) are new ICOs/listings
Top 5 losers last week – in top 100 coins
Learning of the week
Prepare to file your taxes
IRS is paying close attention now including ordering exchanges like coinbase to turnover data on its some of its users.
General rules to follow:

  1. In the U.S., cryptocurrency is generally treated as property (a capital asset like stocks, bonds, and other investment properties)
  2. Trading cryptocurrency to fiat currency like the dollar is a taxable event
  3. Trading cryptocurrency to cryptocurrency is a taxable event.
  4. Giving cryptocurrency as a gift is not a taxable event.
  5. A wallet-to-wallet transfer is not a taxable event.
  6. Buying cryptocurrency with USD is not a taxable eventYou don’t realize gains until you trade, use, or sell your cryptoIf you hold longer than a year you can realize long-term capital gains.

More here and here and here

Disclaimers:
  • Nothing written in this newsletter is legal or investment advice.
  • Information is provided on a best-effort basis and is subject to change without prior notice. Be sure to verify everything you read.

Also published on Medium.

About the author

Pemo is a Media Publisher & Event Producer. She is CoFounder Silicon Valley TV: Broadcasting Silicon Valley to the World! She is the Executive Producer of FinTech Silicon Valley & organizes Bay Area FinTech meetup: Silicon Valley FinTech meetup & Blockchain Music meetup with over 2k members. Other events she has produced Smart Money Silicon Valley: Network with & Learn from Silicon Valley Investors! & NoPanels: Engage Directly with Investors & Industry Leaders; VCHangout: hangout with Investors! & PitchPerfect Silicon Valley: Craft your Pitch & Slide Deck for Funding! She video interviews venture capitalists & angel investors. She is based in Silicon Valley & has been involved in online business for 13 years. She has been in small business for 40 years in Ireland, London, Canada & Australia. She also published a free ebook (the findings of 1 year research with vcs, angels & women founders) "Why are Women Funded Less than Men? a crowdsourced conversation" available on Scribd.