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Bitcoin Technical Analysis: BTC’s Price Resilience Holds Steady Amidst Market Fluctuations
2.2.2024
On Friday, the price of bitcoin fluctuated within a daily span from $41,937 to $43,347, with its market value reaching $846 billion. The trading activity for the day tallied up to $17.35 billion, showcasing a spike in investor involvement and market liquidity, which tends to diminish as the weekend...
Lawyer Says FTX Has Abandoned Revival Efforts, Judge Certifies Controversial Reimbursement Plan
2.2.2024
The collapsed cryptocurrency exchange FTX will not be proceeding with efforts to resume operations because none of the prospective suitors has pledged to invest the needed capital, the company’s attorney has said. A U.S. Bankruptcy Court judge has said FTX’s proposal to reimburse...
Singapore High Court Denies 3AC’s Bid to Dismiss Suit by Defiance Capital Founder
2.2.2024
The High Court of Singapore has denied Three Arrows Capital’s (3AC) attempt to dismiss a lawsuit by Defiance Capital founder Cheong Jun Yoong, affirming the legal standing of digital assets in trust disputes. Singapore Court Upholds Defiance Capital’s Suit Against 3AC in Crypto Case...
Monei Starts Conducting Euro Stablecoin Tests
2.2.2024
European payment platform Monei has announced the start of the testing phase of EURM, a euro-pegged stablecoin, as part of the Bank of Spain’s national financial sandbox. The token will leverage Ethereum’s and Polygon’s blockchains, allowing each one of a reduced number of users...
House Financial Services Committee Members Demand More Time to Debate New Digital Payment Proposal
2.2.2024
Leading members of the U.S. House Financial Services Committee, Chairman Patrick McHenry, Subcommittee Chairman French Hill, and Representative Mike Flood, have requested an extension of the public comment period for the CFPB’s proposed rule on digital consumer payment applications. This...
30 Banks Participating in Russia’s Central Bank Digital Currency Pilot
2.2.2024
The number of banks participating in Russia’s central bank digital currency pilot has increased to 30. Seventeen banks have signed an agreement with the Bank of Russia to participate in the digital ruble program. They will join 13 other banks, about 600 citizens, and 30 trading and service...
Economist Peter Schiff Discusses Likelihood of a Fed Interest Rate Cut in March
2.2.2024
Economist Peter Schiff says Federal Reserve Chairman Jerome Powell taking the March rate cut off the table “may have actually raised the probability that the Fed will indeed serve up the first rate cut in March.” Moreover, Schiff explained that the Fed’s job is actually to create...
UK Police Seize 61,000 Bitcoins From Huge Chinese Investment Fraud
2.2.2024
The U.K. Metropolitan Police have reportedly seized more than 61,000 bitcoins from a massive Chinese investment fraud. A British citizen is accused of laundering bitcoin for a Chinese fugitive who allegedly stole roughly $6.4 billion from more than 128,000 investors. British Police Seize Over...
Valkyrie Partners With Bitgo for Custodial Services and ‘Safekeeping of the Trust’s Bitcoin Holdings’
2.2.2024
On Feb. 1, 2024, Valkyrie Digital Assets, a cryptocurrency asset manager, revealed in a Form 8-K submission to the U.S. Securities and Exchange Commission (SEC) that it has selected Bitgo to provide custodial services for its spot bitcoin exchange-traded fund (ETF). Bitgo to Safekeep the Bitcoin...
Bullish on Bitcoin: Global Survey Respondents Anticipate BTC Price Spike to $60K and Beyond in 2024
1.2.2024
A recent international survey by Bitget has illuminated the crypto market’s hopeful perspective, drawing insights from close to 10,000 individuals across areas such as West Europe, East Europe, Southeast Asia, East Asia, MENA, and Latin America. More than half of the participants globally...
Celsius Emerges From Bankruptcy, Begins to Distribute $3 Billion to Creditors
1.2.2024
Celsius has concluded its Chapter 11 bankruptcy process and is embarking on a new journey with the launch of Ionic Digital, Inc., a bitcoin mining company managed by Hut 8 Corp. This development follows a complex legal and financial restructuring, which will include over $3 billion distributed...
Jupiter’s JUP Token Makes a Grand Entry With $700M Airdrop on Solana Blockchain
1.2.2024
Jupiter successfully launched its JUP token. The airdrop, one of the largest in crypto history, distributed an astounding $700 million worth of JUP tokens to almost a million wallet holders. Jupiter’s JUP Token Airdrop Distributes to Nearly a Million Users The cryptocurrency world witnessed...
Hong Kong Worldcoin Offices Visited Amid Privacy Investigation
1.2.2024
The offices of the Worldcoin project, a biometric scanning and wallet initiative, have been visited by authorities in Hong Kong amidst a broad privacy investigation. The authorities, complying with a court warrant, advised the general audience to protect their sensitive data carefully and avoid...
US Banking Sector Volatility — Distressed Commercial Real Estate Sector Raises Default Concerns
1.2.2024
Following the U.S. central bank’s decision to keep the federal funds rate unchanged, the turbulence in the commercial real estate market has sent shockwaves through the country’s banking sector and internationally as well. On Thursday, New York Community Bancorp witnessed a further...
Affected by the National Stock Market Downturn, Chinese Investors Have Flocked to Gold
1.2.2024
Chinese investors have been buying gold as an investment, motivated by the poor performance of traditional stock and property options. According to World Gold Council (WGC) reports, China had the largest demand for gold for jewelry and investment purposes in 2023. This, and the demand from central...
EIA Launches ‘Emergency Survey’ on Crypto Mining’s Power Use Amid Concerns of Alleged ‘Public Harm’
1.2.2024
The U.S. Energy Information Administration (EIA) has gained clearance from the Office of Management and Budget (OMB) to conduct an urgent survey regarding electricity usage by cryptocurrency mining firms across the U.S. The EIA submitted this request on the grounds that “public harm...
Bitcoin’s Hashrate Hits 7-Day Record High, Surging to 566 EH/s Amid Anticipation of Upcoming Difficulty Adjustment
1.2.2024
Bitcoin’s computing power has soared to unprecedented levels, with the seven-day simple moving average (SMA) peaking at 566 exahash per second (EH/s) as of Jan. 30, 2024. Despite experiencing a slight decline in mid-January, the network’s hashrate is on an upward trajectory,...
Tether’s ‘Record-Breaking’ Q4 Profit Partly Attributed to Gold and BTC Price Appreciation
1.2.2024
In the last quarter of 2023, Tether Holdings Limited registered a “record-breaking net profit of $2.85 billion.” Overall, the stablecoin issuer’s net profit in 2023 topped $6.2 billion. Tether’s secured loans ($4.8 billion), which are collateralized by highly liquid...
Long-Dormant ‘Sleeping Bitcoins’ Worth $35 Million Spring to Life on January’s Final Day
1.2.2024
On Jan. 31, 2024, a notable movement of so-called ‘sleeping bitcoins’ occurred, involving wallets from 2013 and 2016 which collectively transferred 845.06 bitcoins valued at approximately $35.96 million. Originating from a handful of distinct addresses, 726 bitcoins were likely...
South Korean Prosecutor in Court for Passing Information to a Virtual Asset Investment Fraudster
1.2.2024
On Jan. 30, a South Korean court continued with the trial of a prosecutor who is accused of passing sensitive information on the progress of an investigation to an alleged virtual asset investment fraudster. According to the Gwangju District Prosecutor’s Office, the acts by the prosecutor...