Exciting news for the crypto community as [@DriftProtocol](https://x.com/DriftProtocol) has officially announced the launch of **Season 2 Airdrop**, slated for May 2025. This announcement was shared by [@SolanaFloor](https://x.com/SolanaFloor) and has created a buzz among investors and enthusiasts around the globe. [1](https://x.com/SolanaFloor/status/1874476095376081016)

Drift Protocol is gearing up to distribute this airdrop in a bid to engage with its growing user base and strengthen its presence in the market. This development promises to boost interest and participation among both existing and potential users of the platform.

While the details about the airdrop's exact structure and eligibility criteria are yet to be revealed, anticipation is clearly building. Given the vast interest and potential gains associated with such events, many participants are closely watching for upcoming announcements about the allocation process and specific qualifications needed to benefit from this airdrop.

Stay tuned as more information about the **Drift Protocol Season 2 Airdrop** emerges, likely to include instructions for participants and further insights into what this distribution could mean for both the protocol and its users.

Drift Protocol's Season 2 Airdrop set for May 2025.

Drift Protocol Season 2 Airdrop Announced

🚨JUST IN: @DriftProtocol announces Season 2 Airdrop scheduled for May 2025. 

https://t.co/rAvNuO7hQg

SolanaFloor

In the world of cryptocurrency investments, large-scale investors, commonly known as **whales**, have a significant impact on market dynamics. Such is the case of a whale that made headlines by purchasing a substantial amount of **$VIRTUAL** tokens, yielding an impressive return. [1](https://x.com/lookonchain/status/1874710305596678515)

Nineteen days ago, the whale invested **$10 million USDC** to acquire **4.25 million $VIRTUAL**. The current value of this investment has skyrocketed to **$21.5 million**, translating to an unrealized profit of **$11.5 million**. This demonstrates the lucrative potential of strategic investments in the crypto space.

This move was initially highlighted by Twitter user [@lookonchain](https://x.com/lookonchain) The investment has piqued interest among crypto enthusiasts and investors alike, showcasing the significant profits that can be reaped from timely and bold wagers in the highly volatile cryptocurrency market.

The whale's bold decision was facilitated through withdrawals of $10 million USDC from **Coinbase**, followed by the purchase of **$VIRTUAL** at a rate of $2.35 per token. The involved transaction reveals extensive thought and trust placed in the growth potential of the $VIRTUAL cryptocurrency. [2](https://x.com/lookonchain)

Such substantial investments by whales can influence market trends, and this case reaffirms their pivotal role within the cryptocurrency ecosystem. As $VIRTUAL continues to attract attention, this whale's successful venture could inspire similar lucrative ventures in the crypto markets.

A whale's $VIRTUAL investment yields $11.5M profit

Whale Profits Big on $VIRTUAL Investment

In a recent development, **the IRS has announced a delay** in the implementation of new crypto cost-basis reporting rules. 

This postponement has captured the attention of many in the cryptocurrency community, as it impacts how digital asset transactions are to be reported.

The announcement, shared by [@TheBlock__](https://x.com/TheBlock__/status/1874689107206578434), highlights that the IRS has decided to give more time for taxpayers to comply with these changes.

This delay is particularly significant given the growing importance of **accurate and transparent reporting** in the evolving **cryptocurrency ecosystem**. [1](https://x.com/TheBlock__/status/1874689107206578434)

Crypto cost-basis reporting is crucial as it ensures that all transactions are accurately captured and reported for tax purposes. 

These rules were initially designed to bring clarity and reduce discrepancies in cryptocurrency reporting, and their delay could impact both individual and institutional investors.

The decision to delay the implementation comes on the heels of various discussions and feedback from stakeholders in the crypto space, who have been vocal about the challenges associated with these reporting requirements.

As the IRS continues to refine and adjust these rules, **industry leaders and taxpayers alike** are urged to remain informed and prepared for when these changes eventually take effect.

Stakeholders are keenly watching for any further updates from the IRS, as clear guidelines are essential for maintaining trust and compliance within the market.

This development underscores the ongoing complexities and regulatory adjustments in the fast-paced world of cryptocurrencies.

IRS postpones crypto cost-basis reporting rules.

IRS Delays Crypto Reporting Rules

Bithumb, South Korea's second-largest cryptocurrency exchange, has announced an important update for its users. 

As of January 2, 2025, Bithumb will introduce new **Korean Won trading pairs**, specifically for **PEAQ** and **VANA**. [1](https://x.com/WuBlockchain/status/1874641481350439382) 

PEAQ serves as a Layer 1 blockchain primarily utilized for **Decentralized Physical Infrastructure Networks (DePINs)**. 

This innovative infrastructure supports a range of physical assets and services being decentralized and securely managed.

On the other hand, **Vana Network** is recognized as a **decentralized data network**, enabling users to engage in efficient data sharing and management without central authority oversight.

The introduction of these trading pairs reflects Bithumb's commitment to broadening its asset availability and offering users a diverse trading experience.

The new pairs will be available starting at 4 pm KST, allowing traders to explore **diversified investment opportunities** within the cryptocurrency sphere.

Bithumb's decision to list these assets could be seen as part of a broader strategy to tap into emerging technologies that prioritize decentralization and efficient infrastructure.

Bithumb lists PEAQ and VANA Korean Won trading pairs.

Drift Protocol Season 2 Airdrop Announced

Frequently Asked Questions

What is an airdrop in the context of cryptocurrency?

How can I participate in the Drift Protocol Season 2 Airdrop?

What benefits do users gain from participating in an airdrop?

Are there risks associated with participating in airdrops?

How do airdrops affect the overall market and price of a cryptocurrency?