According to Tetranode, the expansion of the IRS is often misunderstood as primarily targeting billionaires, whereas it can significantly affect cryptocurrency traders. The increased scrutiny could lead to heightened regulatory compliance and reporting requirements for trades, impacting trading strategies and operational costs. Traders need to be aware of these regulatory changes to adapt their trading strategies accordingly. Source: Tetranode on Twitter.

According to ZachXBT, there are many traders in the cryptocurrency market making unwise decisions, which he believes leads to inevitable losses for those individuals. This highlights the importance of informed trading strategies and risk management in the volatile crypto market.