Coinbase’s UK unit – CB Payments Limited (CBPL) – was fined $4.5 million by the UK financial regulatory agency, the Financial Conduct Authority (FCA), for repeatedly violating a requirement that barred the firm from providing services to high-risk customers. While CBPL itself does not handle crypto transactions for customers, it serves as a “gateway” for...Read More
A Bitcoin mining device with a hashrate of only 500 gigahashes per second (Gh/s) managed to mine a block on July 24, earning a reward of $206,000 in Bitcoin. This event stands out given that the device has only a 1 in 1.1 billion chance of achieving this approximately every ten minutes. $206,000 Block Reward...Read More
Investment management firm VanEck has outlined a scenario in which bitcoin (BTC) could reach $2.9 million per coin by 2050. This forecast is based on their “base case scenario,” which envisions bitcoin becoming a key international medium of exchange and ultimately growing to be one of the world’s reserve currencies. The Road to $2.9 Million...Read More
Harris, who was nominated as candidate for the presidential election when Joe Biden bowed out of the race on July 21, may even speak at the upcoming Bitcoin 2024 conference in Nashville which starts on July 25. On July 24, the CEO of the event, David Bailey, said that they were in talks with the...Read More
Developers at BitcoinOS (BOS) made blockchain history on Tuesday by successfully verifying the first-ever zero-knowledge proof (ZKP) on Bitcoin mainchain. This milestone opens the door to truly minimized Bitcoin layer 2 rollup systems, offering limitless scalability and functionality for Bitcoin without needing changes to its underlying consensus code. Bitcoin Now Has ZK Proofs According to...Read More
Fold, a popular Bitcoin financial services platform, has confirmed arrangements to become a publicly traded company on the NASDAQ stock exchange. The firm’s entry will add another tally to the growing list of public stocks that keep a large swath of Bitcoin directly on their balance sheet. Bitcoin Banking Gone Public Per a press release...Read More
On July 23, Cynthia Lummis released a report arguing against the Biden administration’s proposed 30% excise tax on the energy consumed by Bitcoin miners. Lummis argues that this tax could severely impact the growing Bitcoin mining industry in the U.S., based on what she describes as “unfounded concerns” about environmental pollution and risks to the...Read More
President Joe Biden’s withdrawal from the 2024 election race caused a significant stir in the crypto market. Bitcoin initially fell by 3% in response to the news but later recovered and even tapped a multi-week peak. According to Bitfinex analysts, this was a knee-jerk reaction to temporary uncertainty in the market. By Monday morning, Bitcoin...Read More
Beginning in early July, the defunct crypto exchange – Mt. Gox – initiated repayments to creditors affected by the 2014 hack. While Kraken has completed the distribution of all the Bitcoin and Bitcoin Cash owed to Mt. Gox creditors, the former’s price remained stable. This could be due to the fact that creditors on Kraken...Read More
Ether’s has failed to gain any upward traction despite the hype around it. Instead, the altcoin ended up shedding nearly 2% over the past 24 hours as it hovered near $3,460 despite a strong debut for spot Ethereum ETFs. This tepid price movement contrasts with the strong trading activity recorded by these new investment vehicles...Read More
Popular crypto analyst Willy Woo has identified an ongoing power tussle (or tug-o-war, in his words) between demand and supply in the Bitcoin ecosystem. In a tweet, Woo outlined three bullish and two bearish factors that could decide bitcoin’s (BTC) price trajectory in the near term. He opined that the bullish signals overpower the bearish...Read More
Franklin Templeton has recently endorsed Solana sparking speculations about a potential spot Solana ETF. Just yesterday, Franklin Templeton’s Ethereum ETF debuted, attracting $13.2 million in initial inflows. Moreover, its Bitcoin ETF holds assets exceeding $450 million. Franklin Templeton Next To File Spot Solana ETF? “Besides Bitcoin and Ethereum, there are other exciting and major developments...Read More
Bitcoin movements from the rehabilitation trustee of the defunct crypto exchange Mt. Gox are still ongoing. The wallet linked to the defunct entity just moved $2.47 billion worth of bitcoins (BTC) to an unknown address. According to data from the blockchain intelligence platform Arkham, the wallet transferred 32,371 BTC to the unlabelled address at around...Read More
Spot Ethereum ETFs began trading in the United States for the first time on July 23, and the initial picture isn’t pretty for the world’s largest crypto asset manager. As expected, Grayscale’s newly converted Ethereum Trust (ETHE) hemorrhaged $484 million on day one of trading. If the situation mirrors that when Grayscale converted its Bitcoin...Read More
Coinbase-incubated Layer 2 network – Base – is seeing a significant surge in daily activity thereby suggesting growing interest and adoption amidst an improved sentiment in the broader market. The Base mainnet also saw a recovery in its TVL after nearly two weeks of slump. Base Layer 2 Growth Over the past week, Base has...Read More
The US government transferred 58.742 BTC – worth nearly $4 million, to crypto exchange Coinbase on Monday. According to the latest data compiled by blockchain analytics firm Arkham Intelligence, the transfer came from an address labeled “US Government: Ryan Farace Seized Funds,” identified on the blockchain as 3B2jEBZi8fJWGEDrh6Pe7hDMaJ6iGfFtaU. These funds were confiscated three years ago...Read More
India has decided to uphold its existing crypto tax regulations for the 2024/25 fiscal year despite ongoing appeals from industry leaders for a reduction in the current rates. Finance Minister Nirmala Sitharaman confirmed this decision during her budget presentation on Tuesday for the 2024/25 fiscal year. India’s Latest Budget Keeps 1% Crypto TDS India’s latest...Read More
Bitcoin miners are in the green again following BTC’s massive recovery over the past week. On-chain data suggests miners’ BTC sales to upgrade machinery and sustain operations are ending. The Miner Sustainability metric, an indicator that evaluates the profitability of mining activities after accounting for the cost of hardware and operations, shows that this cohort...Read More
Hamilton Lane, a global investment firm with over $920 billion in assets under management, has taken a bold step into the world of blockchain. The firm is launching its Senior Credit Opportunities Fund (SCOPE) on the Solana blockchain through a partnership with Libre, an institutional Web3 infrastructure provider. This move marks a significant milestone in...Read More
The Coinbase premium turned positive in early July after a period of concern following a dip in mid-May According to research from Kaiko, this could hint at a resurgence of institutional interest in Bitcoin. Renewed Institutional Interest The Coinbase premium, which measures the difference between hourly bitcoin prices on Coinbase’s BTC-USD pair and Binance’s BTC-USDT...Read More
The long-anticipated launch of spot Ethereum ETFs in the United States became a reality today as nine such financial vehicles went live for trading. The first 90 minutes were quite impactful, as the total volumes exceeded $360 million, according to data from Bloomberg’s ETF specialist – Eric Balchunas. Here’s where we at after 90 minutes....Read More
Following weeks of adjustments to registration statements, several spot Ethereum ETFs have been approved and will start trading on Tuesday. Ether’s price has not experienced any significant changes so far. Kaiko suggests that in the coming days, the crypto asset will likely be “sensitive” to inflows from spot ETFs, especially given the tepid demand for...Read More
Spot Bitcoin ETFs are back in favor among institutional investors this week, with Monday, July 22, registering the largest daily inflow since June 4. A whopping $533.6 million entered four of the eleven listed spot BTC ETFs in the United States, according to preliminary data from Farside Investors. There have now been 12 consecutive days...Read More
Ethereum prices dropped more than 3% from an intraday high of $3,540 on July 22 to a low of $3,425 during the Tuesday morning Asian trading session. They have recovered slightly since but analyst ‘Kaleo’ predicted that there is a “high likelihood we see some type of pullback after the spot ETF launches.” He predicted...Read More
On July 23, Hong Kong will launch Asia’s first Bitcoin futures inverse product, the CSOP Bitcoin Futures Daily (-1x) Inverse Product (7376.HK). This new exchange-traded fund (ETF) by China Southern Asset Management Co., Ltd (CSOP) is designed to provide investors with an opportunity to profit from declines in Bitcoin’s price. Asia’s First Bitcoin Futures Inverse...Read More
Investment in digital asset products continued to rise, with inflows reaching $1.35 billion last week, totaling $3.2 billion over the past three weeks. Trading volumes for Exchange Traded Products (ETPs) also saw a significant increase, up 45% week-over-week to $12.9 billion. However, this accounted for a lower-than-usual 22% of the overall crypto market volumes. Bitcoin...Read More
Bitcoin’s latest uptrend and surge to the $67,000 level have put many investors in the money, with the majority of addresses holding the primary cryptocurrency flashing green. A tweet from IntoTheBlock has revealed that 93% of addresses holding BTC are in profit again. Historical data from the on-chain intelligence platform shows that Bitcoin holders have...Read More
Over the past ten years, Ethereum has transformed the blockchain landscape. From its initial coin offering to becoming the second-largest crypto by market cap, Ethereum has continuously evolved, implementing major upgrades like the shift to Proof-of-Stake (PoS) and Layer 2 scaling solutions and cementing its position as a cornerstone of the Web3 ecosystem despite the...Read More
WazirX has increased its White Hat recovery reward by 10%, which is now worth $23 million. This move follows a severe cyber attack that resulted in the theft of over $230 million from a multi-signature wallet. WazirX Increases Bounty Reward As a way to recover funds, the exchange announced a Bounty Program, calling on global...Read More
Popular analyst Lark Davis took to his latest video and said that Bitcoin holders might not be ready for what’s coming. Looking at the charts, Bitcoin is showing strong signs of reaccumulation. According to him, Bitcoin, which is currently around $68,000, recently had a breakout and is targeting $72,000 as the next critical resistance level....Read More
