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Cryptocurrency Tax, Hacks and Wallets | Nugget’s News

In the cryptocurrency world, security is one of the most important considerations when buying or storing digital assets like Bitcoin. As of late, there have been a number of attacks on online exchanges and other vulnerabilities have also been exposed. Earlier this week, Binance, one of the most popular of such exchanges experienced a KYC data breach. Despite repeated denials from Binance, the stolen details of around 100,000 clients were found for sale on the dark web.

At Caleb and Brown, we recommend using a cold storage wallet to protect your Bitcoin and other cryptocurrency assets. Going forward, experts within the industry see custodial services as the “next major battleground”.

For those that have been negatively affected by hacks to online exchanges, we suggest seeking advice from a certified accountant. Alternatively, contact Caleb and Brown immediately for a professional tax assessment from our in-house cryptocurrency tax expert – you may be eligible for certain tax rebates.

 

As featured on Nugget’s News
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Dr. Prash CEO, Caleb and Brown Wins ‘The Young Executive of the Year – 2018’ awarded by IEC

Dr Prash CEO, Caleb and Brown has been awarded as the Young Executive of the Year 2018 by the IEC at Langham on 17th of November.

A psychiatrist by profession, Prash says making the transition to running a financial services brokerage was a huge leap and an ongoing steep learning curve. “But running a business, I have learnt is primarily still about people and with my background, people is something I understand and enjoy,” he says. Today, his company Caleb & Brown is among the largest cryptocurrency brokerage firms in Australia by both client numbers as well as trading volume.

About ICE Awards:
“The Indian Executive Club (IEC) started in 2011 after the successful launch of the Indian Executive Publication. It is an initiative of Narwee Media Pty Ltd and it’s vision is to support, recognise and profile the Small to Business Enterprises (SME’s) and Executives from the Growing Indian Diaspora in Australia. Over the last four years, IEC has received immense support from its platinum sponsor Pitcher Partners without whom this grand journey simply would not be the same. Pitcher Partners has truly partnered with IEC to believe in the cause of building bridges of business & development for the SMEs and Executives in Australia. To fulfill its vision since 2011, the IEC has continued to hold networking functions throughout the year so our members receive maximum networking opportunities, seek opportunities to collaborate with other organisations, participate actively in forums, discussion groups that supports IEC members” – Vinay Sharma, Chairman—IEC

Dr. Prash is the CEO at Caleb and Brown is available to guide new and seasoned investors.

About Dr. Prash P:
Prash is considered a thought leader in the philosophical and existential implications of this emerging technology and is a regular speaker at industry conferences.

connect with us

Call Dr. Prash on +61 1800 849 149  or Contact Us to discuss further.

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The Future of Crypto Assets and Blockchain

Dr Prash Puspanathan CEO, Caleb and Brown on #Coincast TV | Sky News Business

First came the millennials, then the first tech-savvy adopters, but when will financial services finally take the plunge into crypto?
Dr. Prash speaks to Coincast TV reporter Heidi Cuthbert about the future of Crypto Assets and Blockchain.

Interview Transcripts:

1. The first wave ofcrypto assetsinto cryptoassets has been young tech-savvy millenials, who’s the second wave going to be?

I think we are firmly in the 2nd wave now. There is a commonly talked about S-curve of adoption staring with innovators, probably the tech savvy millennials you brought up right at the outset. Then come the early adopters which is probably what we are seeing now. Running a brokerage, I have the luxury of an intimate insight into investor demographics and it is heartening to see that there really isn’t a typical one. Our oldest investor is 75, we are gradually seeing an increase in female investors which is something the industry still lacks, the diversity is promising for the market as a whole.

The third wave, almost counter-intuitively, appears likely to be the financial services industry. We already seeing big moves by large institutional players globally which is forging the path and as regulation moves gradually towards Cryptocurrencies becoming a regulated financial instrument, I expect to see Wealth managers and financial advisors who are currently constrained by its unregulated nature being able to invest into this market. However, that will only come with greater oversight, improved custodial solutions and greater adoption and usage of Crypto.

But, baby steps.

2. Why is holding crypto better than holding cash?

I guess this is first best qualified by asking another question, which is “Who’s asking?”

If you are a Syrian refugee trying to flee across a border, then Crypto is definitely a more portable asset than a bag of cash
If you live in Venezuela where hyperinflation has made your local currency a worthless store of value, then yes

But if you are asking from the perspective of a developed world investor in a stable economy, government and political climate such as we are in, then perhaps one of the main value propositions of Crypto is its capacity to act as a Non-correlated asset as compared to any Fiat currency markets. Whether or not you believe that the next global financial downturn is imminent, inevitable or likely, Cryptocurrencies allow investors the opportunity to diversify their portfolios by acting as a hedge against Fiat market risk.

3. There are over 1700 different Cryptocurrencies out there. What do you think the future of all of these will be?

I expect that the future will see a consolidation, and a dramatic one at that, of the different coins out there with a narrowing down to a few select categories, broad use-case scenarios.

Specific coins which hold the mantle of both market share and value proposition within those categories will likely garner market share from the rest and establish themselves as the sole primary currency for that broader purpose.

To compensate, infrastructure that is built around the current multiple different coins will adapt to make themselves malleable enough to work with the reduced specificity of the eventual coin that is used for their industry or purpose.
This would lead to a situation more analogous to the current currency landscape.

4. How can investors manage the extreme volatility of crypto assets?

The short answer is…with difficulty.

Look Crypto markets are going to be inevitably volatile, a reflection of the small market capital and just how early on we are in the cycle of adoption. The total market capital of Bitcoin is only $200Billion. In comparison, the market capital of Gold is $7 trillion. So any event geopolitical, economic, local or international that causes market fluctuations which would cause barely a ripple in the depth of the fiat currency market is likely to be reflected by shifts in the Crypto market. It’s like throwing a pebble into the ocean vs into your bathtub.

To minimise volatility, investing in the currencies with a larger market capital, that have been around for longer and have a more stable architecture and infrastructure around them and not chasing the ludicrous 100x gains from newer, speculative coins is probably the most sensible strategy I can recommend alongside having a diversified Crypto portfolio. It’s one of the key lessons we educate our clients on.

5. What’s the future of blockchain – is it bigger than the internet?

The internet was arguably the greatest revolution in the way society operates, relates to each other and functions. Ever.
Comparisons have been made suggesting that “Blockchain technology” in all its iterations may eclipse that.
I think the greatest promise though lies in the confluence of almost mind-bendingly revolutionary technologies that we sit on the cusp of, the synergy of which would mean a sum that is exponentially greater than its parts.
Blockchain technology, Cryptocurrencies, Artificial Intelligence, VR technology, renewable energy, Quantum Computing.

We are heading into a time of the greatest ideological and functional change the world has ever seen, led by technology. But more than the volume of change, the rate of change has never been higher than it is now. And crucially the acceleration of change: The rate of change of the rate of change is what truly gives me goosebumps and I’m glad to be alive and part of this.

Dr. Prash is the CEO at Caleb and Brown is available to guide new and seasoned investors.

About Dr. Prash P:
Prash is considered a thought leader in the philosophical and existential implications of this emerging technology and is a regular speaker at industry conferences.

connect with us

Call Dr. Prash on +61 1800 849 149  or Contact Us to discuss further.

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The Y-House Ball 2018

SAT 13TH OCT
7PM12AM
RACV CITY CLUB

Buy Tickets Now!

We are thrilled to support The Y-House Ball!!! The event will be held on Saturday October 13th at the RACV City Club. It’s sure to be a great night featuring amazing food & wine, as well as incredible entertainment & performances and live & silent auctions.

Tickets to the event are $175pp and include a three-course meal, drinks throughout the evening, amazing entertainment, inspiring guest speakers and most of all a REALLY FUN time! Buy Tickets Now!

For more information on the event or for partnership opportunities please contact georgia.retallick@y-house.org

About Y-House Foundation

y-house

MISSION

Y-House’s mission is to keep young people out of aged care.

Across Australia, there are over 6,400 young people living in aged care and this is a number that must be changed. In our pursuit to tackle this issue, we want to provide age-appropriate supports and programs with a strong focus on preventing young Australians from entering aged care unnecessarily. In addition, we want to provide a collective voice to the many individuals living in aged care, as well as those at risk of living in aged care.

We aim to achieve these goals through the development of transitional care and housing, use of advocacy and creation of awareness campaigns, via the following three initiatives:

1. Y-HOUSE
The Y-House model is about providing transitional care and housing to young people post suffering a severe brain or spinal injury, or diagnosis of a degenerative disease. The purpose of the project is to provide that stepping stone of rehabilitation and recovery between the hospital stay and either getting back home, living independently or moving on to supported accommodation.

2. Y-ASSIST
In 2018 we aim to launch Y-Assist, a brand new advocacy program aimed directly at preventing young people from being placed into aged care directly from hospitals and rehabilitation centers. As part of the Y-Assist program, our organisation will fund a case management role within a hospital to directly assist healthcare staff in navigating the discharge planning process for young people with complex disabilities.

3. Y-GIVE
Y-Give is an awareness program designed to showcase the many differing stories of young people living in, or at risk of living in aged care. Through the Y-House Giving Program we are able to share the unique stories of how people have come to be where they are today and their goals and hopes for the future, as well as highlighting small ways in which we can support those goals/dreams.

Buy Tickets to The Y-House Ball 2018

Find out more – www.y-house.org.au

connect with us

The team at Caleb and Brown is available to guide new and seasoned investors.

About Caleb and Brown:
Caleb and Brown gives clients the means to legally and safely engage in the cryptocurrency market. Our brokerage team provides an unparalleled service for both new investors and seasoned traders.

Call us on +61 1800 849 149 (AU) OR (844) 494 6515 (US & International) or Contact Us to discuss further.

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The World of Security Tokens

The World of Security Tokens hosted by Nugget’s News & Huobi Australia

Melbourne 15th October – 6:00PM – 8:30PM
Stone & Chalk – 710 Collins Street, Docklands, Victoria 3000
FREE Event, Pizza & Drinks

REGISTER FREE

The Blockchain space is officially maturing. Regulation is catching up & established businesses are looking to enter the space. Many believe security tokens are key to bridging the old world & the new financial system. Learn about Security Tokens, why they are important and how they’ll affect the world of Cryptocurrency from industry professionals.

– What is a security token?
– How is it different from a utility token?
– Why these are important?
– The regulation of Security Tokens
– Who can invest in them?
– What are benefits?
– How will security tokens affect the world of Cryptocurrency?

In association with Huobi Australia, Living Room of Satoshi, NEM Blockchain & Caleb & Brown

REGISTER FREE

Speakers:

Alex Saunders – CEO & Founder of Nugget’s News

Alex has been immersed in cryptocurrency since discovering Bitcoin in 2012. Alex has a unique investment style that combines fundamental analysis, technical analysis and market sentiment as key drivers in decision making. Alex’s passion lead him to leave his successful career as a head Pharmacist in 2017, to found Nugget’s News. He established the brand through a loyal following on his educational YouTube channel and his crypto community discussion group. Alex is a trusted voice in the Australian crypto community, conducts many speaking engagements to spread the word of crypto and helps to accelerate blockchain start-ups through applying his years of experience and wisdom.

Rick Klink – CEO at Malta Digital Exchange

In 2005, Rick founded D2MX, an independent Australian direct execution StockBroking firm. D2MX rose to over $700 million per month in trading turnover per month. D2MX was sold to Penson Inc in 2008

In 2009, Rick founded Bespoke Portfolio, a dealer group focusing on FinTech / RoboAdvice companies providing Managed Account services. Bespoke Portfolio now provides services to some of the largest RoboAdvice companies in Australia.

In 2013, Rick co-founded OpenMarkets, an independent Australian StockBroking firm. Rick was CEO until 2017, then moving to CTO and Executive Director role. OpenMarkets now has a turnover of approximately $4Billion per month and Assets on platform of over $1.5 billion.

In 2018, Rick and his team founded Malta Digital Exchange, a Securities Token Exchange regulated in Malta.

John Bassilios – Special Counsel, Hall & Wilcox

John has broad experience in financial services, funds management, blockchain, corporate and commercial law, with a particular emphasis on funds management related matters.

John has acted for a wide range of financial services providers (both start-ups and established industry providers), including retail and wholesale fund managers, investment advisers, financial planners, stockbrokers, IDPS operators, managed discretionary account providers and consumer credit providers. He has advised financial services providers on all aspects of managed investments schemes, AFSL and ACL licensing, disclosure requirements, and ongoing compliance with regulatory requirements.

More recently John has taken a keen interest in Blockchain related matters and gained significant experience advising on, and establishing, crypto currency funds, reviewing Whitepapers for Initial Coin Offerings (ICO) and Securities Token Offerings (STO) and advising on the establishment of cryptocurrency exchanges. John is currently a mentor for the RMIT Blockchain Strategy Course.

Dr. Prash P, CEO Caleb and Brown

Dr. Prash is considered a thought leader in the philosophical and existential implications of this emerging technology and is a regular speaker at the industry conferences.

As the Founder & CEO of Caleb and Brown, he witnessed first-hand the seismic shift the financial world is seeing with the rise of cryptocurrencies. Dr. Prash watched early movers make huge profits whilst seasoned investors were locked out of the market due to limited access and high barriers to entry. Early on he recognised that not only were these roadblocks alienating a majority of investors from profiting from these emerging markets, but also preventing them from future proofing and diversifying their portfolios.

Caleb & Brown was named FinTech start-up of the year at the Stockbroker and Financial Advisors Association (SAFAA) conference 2018.

REGISTER FREE

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Caleb and Brown join hands with Token Tank to interview: Reserve | Stablecoin

Interview with Nevin Freeman, CEO of San Francisco-based stablecoin firm Reserve

Jackson Zeng, COO Caleb and Brown teamed up with Token Tank to Interview with the much-hyped about Stablecoin – Reserve Currency.

Reserve has big-name Investors that includes Coinbase Ventures, Distributed Global, GSR.IO, Peter Thiel, Sam Altman, Velorum Capital, Blocktower Capital, Rocket Fuel, NEO Global Capital, Fenbushi, PreAngel, CryptoLotus, Arrington XRP Capital, Digital Currency Group, and many others.

    What is Reserve?
    Reserve is a decentralized digital currency that is designed to be used like normal money. This concept is often referred to as a “stablecoin” in the crypto community, and it’s widely agreed that it’s essential for crypto to make the transition from a fun speculation game to a legitimately useful form of money. The protocol controls the supply of Reserve to keep the price stable relative to the US dollar.

    About Nevin Freeman, CEO Reserve Token

    Nevin is the Reserve project CEO. He oversees strategy, legal, and team coordination.

    Nevin Freeman is an entrepreneur. He’s co-founded three companies: He was the CTO of a financial news website (successful), CIO of a medical research company (failed), and COO of a training-heavy startup incubator (in progress, $25m valuation at current seed stage, investment led by Peter Thiel). He’s built two full-stack websites himself from the ground up, co-founded, directed, and handed off a conference for the Effective Altruism movement that’s grown to over 1k in annual attendance, and handled incorporation, fundraising, recruiting, immigration, contracts, office rental, etc. for multiple nonprofit and for-profit companies. His mission in life is to solve the coordination problems that are stopping humanity achieving its potential, and he’s particularly concerned about averting the long-term risks posed by the development of artificial intelligence.

    Find out more about Reserve Token, here reserve.org.

    More news about Reserve

    connect with us

    Jackson Zeng is the COO at Caleb and Brown is available to guide new and seasoned investors.

    About Jackson Zeng:
    Jackson has five years of trading experience in the cryptocurrency space and founded Bit By Bit Capital, one of Australia’s first private trusts investing in cryptocurrency.

    Call Jackson on +61 1800 849 149  or Contact Us to discuss further.

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Coincast TV – Episode 2 broadcasted on 17 Aug, 2018 | Sky News Business

Top Cryptocurrencies of the Week – As at Aug 15, 2018

  1. Bitcoin (BTC) -This week as the cryptocurrency market took a dramatic fall as we continue to face ETF rejections and delays. Bitcoin demonstrates robustness over most alt coins, facing a 5.27% drop while most smaller coins experienced double-digit declines in price.
  2. Stellar (XLM) A cross-border payments network, was the only cryptocurrency in the top 10 to outperform hold better than Bitcoin this week.
  3. Waves (WAVES) A decentralised exchange platform for cryptocurrencies, is one of the few cryptocurrencies this week to see a positive price movement as trading activity increases steadily on their decentralised exchange.
  4. Metaverse ETP (ETP) A digitized assets platform incorporating “Oracles,” provides digital identity and asset management functions on the blockchain. Metaverse’s “Blockchain as a Service” business model is demonstrating value as actual use-case adoption beyond just price speculation.
  5. Caleb and Brown’s Crypto Spotlight of the Week: Cardano (ADA) Created on the foundation of peer-reviewed academic papers, Cardano is the 3rd largest scaleable smart contract platform by market cap. It has just announced a Google Chrome Extension wallet, providing a much simpler way to interact with the Cardano blockchain than the previously complex interface. Currently, at only 7% of its All-Time-High price, Cardano may be nearing the bottom of its price decline.

Watch full episodes, here www.coincasttv.com.

Caleb and Brown is proud to sponsor “Top Cryptocurrencies of the Week”  segment of Coincast TV, a show that promises to bring education, up to date market information and the latest news from the Cryptocurrency world to mainstream investors. It furthers our commitment to helping bridge the gap between traditional investors and the cryptocurrency markets.

Broadcasted on Sky News Business and syndicated across Apple TV, The Wall St Journal and related social platforms, reaching an audience of almost 200 million viewers worldwide.

Coincast TV

The show will air weekly on Sky News Business in Australia at 7.30pm (EST) on Friday evenings, with several repeat episodes over the weekend.

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Coincast TV – Episode 1 broadcasted on 10 Aug, 2018 | Sky News Business

Top Cryptocurrencies of the Week – As at Aug 8, 2018

  1. Bitcoin (BTC) -12% this week at $6750, facing a Winklevoss Twins ETF
    rejection has fallen back to $6750 USD, but may have hopes for a rebound in
    the coming months as the CBOE ETF application is still in play. Alongside
    this news, the owner of the New York Stock Exchange is in collaboration with
    Microsoft and Starbucks to create a platform allowing Bitcoin to be spent at
    every Starbucks in the world.
  2. Holochain (HOT) +15% this week at $0.000675 – an emerging competitor in
    the non-blockchain structure of Distributed Ledger Technology, is continuing
    to show price strength and community growth since its 100% rise on news of
    Binance exchange listing last week.
  3. Ethereum Classic (ETC) +5% this week at $17.40. This fork of Ethereum
    was created due to a portion of the community having a difference in
    philosophy to the resolution of to the infamous $150m DAO hack on the
    Ethereum network in June 2016. Following a launch on Coinbase Pro’s
    exchange platform as well as the popular Crypto Trading App Robinhood, this
    cryptocurrency is one of the few that saw a positive price move this week.
  4. Binance Coin (BNB) -4% this week at $13.26, the utility token for world’s
    highest transaction volume exchange, is continuing to demonstrate strength
    as a safe harbour during the correction this week a red sea of double-digit
    percentage drops in the top 100 cryptocurrencies as the company continues
    to announce upcoming funds and acquisitions
  5. Caleb and Brown’s Crypto Spotlight of the Week: Hedera Hashgraph – A very anticipated Distributed Ledger Technology project promising rapid transaction throughput, has announced its public $20
    million ICO offering after disclosing a private capital raise of $100 million.
    Additionally, Coinbase Custody has announced that Hedera Hashgraph is
    among the candidates that their custodian solution could potentially support in
    the future, despite the fact that the coin has yet to launch its Blockchain.

Watch full episodes, here www.coincasttv.com.

Caleb and Brown is proud to sponsor “Top Cryptocurrencies of the Week”  segment of Coincast TV, a show that promises to bring education, up to date market information and the latest news from the Cryptocurrency world to mainstream investors. It furthers our commitment to helping bridge the gap between traditional investors and the cryptocurrency markets.

Broadcasted on Sky News Business and syndicated across Apple TV, The Wall St Journal and related social platforms, reaching an audience of almost 200 million viewers worldwide.

Coincast TV

The show will air weekly on Sky News Business in Australia at 7.30pm (EST) on Friday evenings, with several repeat episodes over the weekend.

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Crypto Education to the Masses

– Media release

We Are Teaming Up With Coincast TV

Caleb and Brown is proud to sponsor “Top Cryptocurrencies of the Week”  segment of Coincast TV, a show that promises to bring education, up to date market information and the latest news from the Cryptocurrency world to mainstream investors. It furthers our commitment to helping bridge the gap between traditional investors and the cryptocurrency markets.

“We look forward to the opportunity to work closely with Heidi Cuthbert and the production team to curate the content of our segment so that viewers only get the most up to date news on the best Cryptocurrencies to look out for each week”, said Dr Prash P, CEO Caleb and Brown.

The greater investment community has been waiting for an accessible and trusted news source about Cryptocurrencies. The show will be broadcast on Sky News Business and syndicated across Apple TV, The Wall St Journal and related social platforms, reaching an audience of almost 200 million viewers worldwide.

Coincast TV

The show will air weekly on Sky News Business in Australia at 7.30pm (EST) on Friday evenings, with several repeat episodes over the weekend.

The first show will go to air on Friday, 10 August 2018.
For more information, visit www.coincasttv.com.

Coincast TV executive producer Heidi Cuthbert, who brings her experience as a former Bloomberg Television anchor to the show, described the new program as ‘CNBC meets MTV’.

Ms. Cuthbert said:

“We have recruited a team of former business journalists from highly regarded media outlets such as Sky News and Bloomberg. While we are producing sponsored content, we will keep ultimate editorial control of the program”.

The list of other major sponsors along with Caleb and Brown includes CollinStar Capital, Japan-based ICO advisor CTIAb and Bitcoin Australia.