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U.S. Democrats are investigating Meta for including its data center construction in tax credits.

48 minutes ago

According to a Politico report, a U.S. Senate Democratic tax lawmaker said Wednesday that Meta may have abused a common corporate tax incentive, and demanded the company detail why it claimed research and development (R&D) tax credits while building data centers. Lawmakers are seeking to confirm whether Meta—owner of Facebook and Instagram—improperly claimed this tax break. The policy was originally designed to support research and experimental technologies, not to subsidize routine business spending. The joint letter follows a New York Times report that Meta used these credits to slash its tax bill by billions of dollars. Ron Wyden, the top Democratic senator on the Senate Finance Committee from Oregon, and six other Democratic members of the committee wrote to Meta CEO Mark Zuckerberg: “The federal R&D tax credit is an effective, necessary tool to support America’s innovation economy and cutting-edge research, but subsidizing your artificial intelligence (AI) data center construction clearly does not meet that standard.” Lawmakers added: “If Meta attempts to qualify its AI data center expansion projects for the R&D tax credit, this could constitute a significant improper application of federal tax law, warranting further investigation.” The letter was signed by Wyden and six other Senate Finance Committee Democrats. One signatory, Vermont Senator Peter Welch, also wrote to IRS Commissioner Frank Bisignano last week, requesting the tax agency provide information on how Meta and other large tech firms use research and experimentation (R&E) tax credits.

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Crypto token Maji has been completely liquidated, falling from this cycle’s peak of $12.25 million to $21,800.

Per Lookonchain’s monitoring, crypto figure "Big Brother Ma Ji" (Huang Licheng) has been completely liquidated. Over the past four months, he turned $56,000 into $12.25 million via crypto trading, only to see his holdings plunge back to $21,800.

7 minutes ago

Crypto market falls across the board, with $860 million in long position liquidations over the past 24 hours.

According to HTX market data, Bitcoin has fallen below $81,000, while Ethereum has dropped below $2,400, triggering a broad sell-off in the crypto market. The latest price movements are as follows: BTC is trading at $80,654, down 3.13% in 24 hours; ETH is at $2,350, down 6% in 24 hours; SOL is at $101.8, down 5% in 24 hours; LTC is at $57.8, down 6.2% in 24 hours; OP is at $0.133, down 16% in 24 hours; JTO is at $0.465, down 13.6% in 24 hours; RAY is at $1.78, down 13% in 24 hours. Separately, data from Coinglass shows that total network liquidations hit $935 million over the past 24 hours, including $860 million in long positions and $75.25 million in short positions.

7 minutes ago

Machi Fully Liquidated: $12.25M Gains Wiped Out in 4 Months, Down to $21.8K

Machi(@machibigbrother) just got fully liquidated! Over the past 4 months, Machi turned just $56K into $12.25M through trading, and now he is back down to $21.8K. What a roller coaster!

7 minutes ago

Ethereum drops below $2,400, plunging over 5% in 24 hours.

According to HTX market data, Ethereum has fallen below $2,400, currently trading at $2,373, with a 5.42% decline in the past 24 hours.

7 minutes ago

Bitcoin falls below $81,000, dropping over 3% in 24 hours.

According to HTX market data, Bitcoin has fallen below $81,000, currently trading at $80,742, with a 3.04% drop in the past 24 hours.

7 minutes ago

Three new wallets have staked 1.255 million HYPE tokens, worth approximately $100 million.

According to monitoring by Onchain Lens, three newly created wallets are suspected to belong to the same crypto whale, with a total of 1.255 million HYPE tokens staked, valued at approximately $100.43 million. The staking details per address are as follows: Address 1 has staked 460,180 HYPE (worth around $36.84 million), Address 2 has staked 449,900 HYPE (valued at roughly $35.98 million), and Address 3 has staked 345,250 HYPE (worth about $27.62 million).

7 minutes ago

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