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Withholding tax on cash received from tendered shares
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By XTRAVAGANZA · Posted
With the recent surge in "Cat Coins," a wave of playfulness and intrigue is sweeping the crypto community. KHAI, a meme token built on the Solana blockchain, is at the forefront of this movement. Fueled by a bullish community sentiment, KHAI has experienced a staggering 15.27% price increase in the past 24 hours, pushing its market cap to a noteworthy 24.4 million dollars. This impressive growth comes on top of a remarkable 94.3% price jump over the past week, significantly outperforming both the global market and other Solana-based cryptocurrencies. Could KHAI be the next big memecoin to reach unprecedented heights? Its recent listing on the Bitget exchange, accompanied by a giveaway event, certainly adds fuel to the fire. However, the question remains: will this newfound attention propel KHAI to even greater heights, or will it succumb to the volatility often associated with memecoins? Only time will tell. -
Bitcoin halving is set for this week. Bitcoin Halving Event The cryptocurrency was hit hard over the weekend after Iran carried out a series of strikes against Israeli territory. The attack, in response to Israel’s attack on Iran’s consulate in Syria at the start of the month, saw in excess of 350 drones and missiles launched by Iran. According to the Israel Defence Force (IDF), ‘99%’ of these ‘threats’ were successfully intercepted. With the cryptocurrency sector being the only market open over the weekend, traders used the sector’s liquidity to hedge risk. Bitcoin hit a low of $60.6k as news of the impending strike filtered through, while Ethereum hit a multi-week low of $2,845. In the altcoin space, losses of 25% or more were seen, sparking multiple liquidation stories. Prices across the board are pushing higher today, but the weekend’s losses will take some time to fully recover. The weekend sell-off saw Bitcoin fall below both the 20- and 50-day simple moving averages for the first time since late January. Both of these will need to be recovered convincingly, along with a prior resistance-turned-support level at $69k, before Bitcoin can make a fresh attempt at the mid-March $73.78k all-time high. BITCOIN DAILY PRICE CHART – APRIL 15TH, 2024 Ethereum is over 3% higher today after making a multi-month low of $2,845 on Saturday. Ethereum must reclaim both the 20- and 50-day moving averages before $ 3,582 comes back into play. Above here, the April 8th/9th double high at $3,728 comes into focus. ETHEREUM DAILY PRICE CHART – APRIL 15TH, 2024 All charts via TradingView What is your view on Bitcoin and Ethereum – bullish or bearish? Apr 15, 2024 1:30 PM +02:00 Nick Cawley, Senior Strategist DailyFX -
By CryptoSaint · Posted
Ethereum (ETH) Price Update: Despite a 3.76% dip in the last 24 hours, Ethereum remains a dominant force in the crypto space at $3,026.41. Its robust infrastructure and role in DeFi continue to solidify its position Dogecoin (DOGE) Price Update: With a 3.11% loss in the last 24 hours, Dogecoin sits at $0.1531. Despite market downturns, DOGE's strong community and meme-driven virality keep it relevant in the crypto landscape. Litecoin (LTC) Price Update: Litecoin saw a 2.73% dip, now priced at $76.38. Known as the "silver to Bitcoin's gold," LTC's reputation for fast transactions continues to bolster its standing in the market. Ripple (XRP) Price Update: Despite a 3.24% loss, Ripple stands at $0.4826. Despite regulatory challenges, Ripple remains focused on revolutionizing cross-border payments with blockchain technology. Solana (SOL) Price Update: Solana experienced a notable 10.63% dip, now priced at $132.79. Despite this setback, Solana's high throughput and innovative approach to dApps position it as a promising contender for future growth.
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Question
Guest aad13
Hello,
I have shares of NXP Semiconductors. Qualcomm announced an offer (a long time back!) to buy each share for $127.5 cash. In case China approves the deal and I tender my shares, what will be the withholding tax on it? I know that there is a 15% withholding tax on dividends paid by US-listed companies. But I don't know the tax implications on tendered shares.
Many thanks.
Aad
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