IRS

The U.S. government urges the Supreme Court to dismiss Coinbase users' challenge against the IRS for obtaining crypto records

ChainCatcher news, according to Cointelegraph, on May 30, the U.S. government submitted documents to the Supreme Court requesting to dismiss Coinbase user James Harper's appeal against the IRS's acquisition of his cryptocurrency transaction records. Attorney General D. John Sauer stated that under the Fourth Amendment, Harper does not have a right to privacy regarding the financial records stored on Coinbase, as this data was "voluntarily" shared with the exchange, and the IRS obtained it through lawful judicial procedures.The case stems from the IRS's cryptocurrency tax investigation in 2016, when the agency discovered that a large number of Coinbase users had not reported their crypto gains, subsequently obtaining a "John Doe" subpoena requiring the exchange to submit records of high-volume users. Harper filed a lawsuit claiming this constituted an unconstitutional search, but lower courts ruled that Coinbase records are commercial documents rather than personal private documents, and the IRS's actions were lawful.The government cited precedents such as United States v. Miller to emphasize that users have no reasonable expectation of privacy regarding financial records held by third parties, and Coinbase's privacy policy clearly warns that information may be shared with law enforcement agencies.The Supreme Court has yet to decide whether to hear the case. If it declines, it will uphold the First Circuit Court of Appeals' ruling in support of the IRS.

10K Ventures completes the first phase of raising $10 million for its crypto hybrid strategy investment fund

ChainCatcher news, 10K Ventures has officially completed the first phase of raising $10 million for its crypto mixed strategy investment fund. The institution currently manages approximately $20 million in crypto assets and will continue its "early support + primary and secondary linkage" strategy, focusing on sectors such as AI Agents, stablecoins, and DeFi.It is reported that [10K Ventures](https://www.rootdata.com/zh/Investors/detail/10K Ventures?k=MTI3Mjk=) was co-founded by Michael Jin, former head of OP Crypto Asia Pacific, and Zixi Zhu, former head of crypto at a dollar fund. It employs a "primary + secondary + quantitative" mixed strategy, covering the entire lifecycle of crypto assets, focusing on capturing early Alpha and building multi-layered return strategies. At the primary level, 10K Ventures excels at early identification and support of high-quality teams with a long-term vision, continuously empowering projects to grow into industry leaders through deep financial and resource support; at the secondary level, 10K Ventures adheres to fundamental investment logic, leveraging information advantages and computation to seize secondary and OTC opportunities for high-potential projects. At the quantitative level, 10K Ventures collaborates with professional institutions to achieve stable annualized returns for the fund through strategies such as funding rate arbitrage and spot-futures hedging.
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