The Grayscale Bitcoin Trust (GBTC) has recorded massive outflows since the United States Securities and Exchange Commission (SEC) approved its conversion and listing as a spot Bitcoin exchange-traded fund (ETF). This has led to a significant plunge in its Bitcoin (BTC) stash, and from the look of things, the withdrawals are not slowing down. According...Read More
Changpeng Zhao, the founder of the crypto exchange Binance, encountered a setback last month when a federal judge denied his request to travel to the United Arab Emirates. CZ proposed using his substantial $4.5 billion stake in Binance as collateral, based on the company’s valuation from its last fundraising round two years ago. However, the...Read More
The Securities and Exchange Commission (SEC) has postponed its ruling on BlackRock’s request to introduce a spot Ethereum ETF until March. As the largest fund manager globally, BlackRock submitted its application for a spot Ethereum exchange-traded fund (ETF) in November. SEC Delays Decision on BlackRock Spot Ethereum ETF According to a filing on the SEC...Read More
Bitcoin’s value dipped below $39,000 this week, erasing almost all gains made in the last two months, which were fueled by expectations of approval for a spot BTC ETF in the United States. But the introduction of the much-anticipated funds ended up being a classic “sell-the-news” event. The term is a well-established concept in capital...Read More
In a recent interview, Jack Dorsey and Luke Dashjr shared their insights on the current state and future trajectory of Bitcoin. The interview also shed light on Ocean Mining’s innovative efforts to combat the centralization of mining pools. Bitcoin’s Journey and Future When asked about their general impression of Bitcoin’s journey so far, Dashjr remarked...Read More
Hardware wallet provider Trezor has acknowledged that its third-party email provider was compromised, leading to a series of malicious emails sent to users in the last 12 hours. The deceptive emails, appearing to be from “noreply@trezor.io,” prompt recipients to upgrade their “network” or risk losing their funds. The message includes a harmful link redirecting users...Read More
ARK Invest CEO Cathie Wood recently expressed her views on Bitcoin, saying that it is one of the most important investments of our lifetimes. It is worth noting that, under Wood’s leadership, Ark Invest actively manages a spot Bitcoin ETF in collaboration with 21Shares. Cathie Wood Discusses Bitcoin’s Security In a recent CNBC interview, Wood...Read More
The Avalanche Foundation has unveiled eligibility criteria designed for meme coins, which the platform will consider supporting. On Tuesday, the organization behind the Avalanche blockchain introduced an “eligibility framework,” providing guidelines for its unique effort to acquire meme coins. Should the Avalanche Foundation choose to acquire them, the creators of these often highly volatile crypto...Read More
Bitcoin miner Core Scientific has completed its reorganization and is coming out of Chapter 11 with an improved financial position. In the latest statement, the company said it anticipates initiating the listing of its common stock, tranche 1 warrants, and tranche 2 warrants on the Nasdaq Global Select Market under the symbols CORZ, CORZW, and...Read More
Crypto investment platform Abra settled in principle with Texas securities regulators, part of which requires the company to allow its customers to withdraw their assets. Abra was previously accused of deceiving customers and violating securities laws through the offering of its interest-bearing products. Abra to Return Crypto Assets to Investors The Texas State Securities Board...Read More
During the pandemic, a new mandate requiring Canadian truckers that carried out trips across the border into the United States to receive the COVID-19 vaccine was wildly unpopular, resulting in what was known as the “Freedom Convoy” protest. Following a decision to protest the measure, truckers blocked the streets of Ottawa with their trucks and...Read More
Hester Pierce, popularly known as “Crypto Mom,” who serves as a commissioner with the United States Securities and Exchange Commission (SEC), believes the agency would not need a lawsuit or a court ruling to approve pending spot Ethereum exchange-traded funds (ETFs) application. During an interview with community-owned crypto media outlet Coinage, Commissioner Pierce insisted the...Read More
The beginning of this week saw a decline in the overall market capitalization of cryptocurrencies, dropping from $1.6 trillion to $1.5 trillion, indicating a day-on-day decrease of over 5%. This market downturn did not spare the native token of the Ethereum-based layer-2 Optimistic Rollup network, OP. Due to the broader market decline, OP incurred weekly...Read More
Cryptocurrency lending platform Nexo is seeking damages worth $3 billion from the Bulgarian government after the latter dropped its criminal investigations against the company. According to Nexo, the investigations allegedly cost the company a major soccer sponsorship deal and a stock market listing in the United States. Nexo Sues Bulgaria for $3 Billion Nexo and...Read More
A legal fund supporting the defense of Tornado Cash developers Roman Storm and Alexey Pertsev has amassed over $350,000 in contributions and gained public backing from Edward Snowden, the former NSA whistleblower. Tornado Cash has been linked to North Korean hackers and the $600 million Ronin Network attack money laundering. Tornado Cash Legal Defense DAO...Read More
Bitwise’s Chief Investment Officer, Matt Hougan, has pointed to excessive expectations surrounding the approval of Exchange-Traded Funds (ETFs) as the primary cause of the recent price falls in cryptocurrencies. Contrary to popular belief, Hougan argued that the sell-off was not directly tied to ETFs but rather to the market’s anticipation of their approval and subsequent...Read More
Last year, the value of Coinbase Global Inc. shares experienced a significant increase, partly fueled by optimism surrounding the imminent launch of spot bitcoin ETFs. However, JPMorgan analyst Kenneth Worthington is expressing concerns that this positive sentiment may now flip to bearish. In fact, the potential for significant profits in the crypto industry resulting from...Read More
The emergence of Bitcoin-based stablecoins could make 2024 a pivotal year for the leading digital network, according to analysts at European alternative asset management firm CoinShares. In its Outlook 2024 report, the firm explained that the effects of a stablecoin settlement on Bitcoin would be numerous, including the enhancement of BTC’s monetary properties and the...Read More
According to the Financial Times, European brokers are slashing spot Bitcoin ETF fees after Invesco and WisdomTree reduced theirs by over 60% on European BTC products. The decision comes as the U.S. Securities and Exchange Commission (SEC) recently approved spot Bitcoin ETFs from major players like BlackRock, Fidelity, and Invesco, resulting in an influx of...Read More
On Monday, the Securities and Exchange Commission (SEC) disclosed that multi-factor authentication (MFA) on its X account was disabled leading up to a false post earlier this month, just before the formal approval of spot Bitcoin ETFs. The incident occurred on Tuesday, January 9, 2024, when the SEC’s @SECGov X account was compromised, and unauthorized...Read More
After Three Arrows Capital collapsed during crypto winter, founders Su Zhu and Kyle Davies stuck around on Twitter, making excuses for themselves before going silent for months and resurfacing with a new crypto project – the exchange OPNX. Later on, the pair also launched “3AC Ventures,” a new hedge fund, although public information is limited....Read More
Ethereum has currently found itself situated within a crucial demand zone after falling below the $2,300 threshold. While the risk of additional decline in the altcoin’s value, the recent dynamics in Ethereum’s futures market sentiment have been underscored by a critical analysis of funding rates, which serves as a crucial indicator, shedding light on the...Read More
Several Web3 firms have been impersonated in an ongoing coordinated phishing attack in the crypto community. According to a tweet by on-chain sleuth ZachXBT, investors have been receiving phishing emails from sources claiming to be from platforms like decentralized applications and crypto wallet bridge provider WalletConnect, full stack on-chain data platform Token Terminal, decentralized finance...Read More
Bitcoin ETF issuers, except for Grayscale, have collectively acquired more than 86,000 BTC at an average price of $42,000, an investment of $3.63 billion, according to on-chain analyst Ali on X. The sustained high trading activity shows investors’ ongoing interest and engagement in recently launched Bitcoin ETFs. Bitcoin ETFs Show Resilience Among Bitcoin ETF issuers,...Read More
Bitcoin (BTC) has significantly declined over the past few days, leading to a fall in unrealized profits, particularly among short-term holders. According to a report from crypto exchange Bitfinex, the decline in unrealized profits could contribute to an increase in selling pressure, leading to further market correction. Bitcoin’s Unrealized Profits Plummet Since BTC fell and...Read More
BTC has dropped to its lowest price level for seven weeks, hitting $39,500 during Tuesday morning’s Asian trading session. The 3% daily decline has increased the size of the BTC pullback to 18.5% from its Jan. 10 high of $48,500. Moreover, analysts have predicted that the correction could continue and be as deep as 30%,...Read More
An unidentified individual recently suffered a significant loss of aEthWETH and aEthUNI, totaling $4.2 million, falling victim to a crypto phishing attack that leveraged a falsified ERC-20 permission signature. According to the Web3 security firm Scam Sniffer, the victim unwittingly signed approvals for multiple transactions using an ERC-20 authorization manipulated by an opcode contract to...Read More
Chris J Terry, a crypto market analyst, has recently predicted that Bitcoin’s (BTC) price could either remain stagnant or decline until the $25 billion liquidation of GBTC is finalized. Mike Novogratz, the founder of Galaxy Digital, holds a different view. He argues that despite the anticipated GBTC sell-offs, most investors will shift their focus to...Read More
Defunct crypto exchange FTX may be behind a tsunami of outflows from the Grayscale Bitcoin Trust (GBTC) this month – and by extension, may have caused a significant downturn in Bitcoin (BTC)’s price. A recent report from CoinDesk suggested that the FTX bankruptcy has sold off close to $1 billion worth of GBTC since the...Read More
Grok, an AI chatbot with access to tweets from all over X and programmed to be as snarky as possible, is the principal product offered by xAI. The company is Elon Musk’s response to OpenAI – which he also co-founded. However, he later left after disagreements with Sam Altman and others over how to develop...Read More
