ARK Invest CEO Cathie Wood recently declared that Bitcoin (BTC) will surpass the $1 million mark well before the anticipated year of 2030, which was her firm’s previous bull-case timeline. This updated price target comes as a result of new institutional involvement and significant regulatory milestones, especially the US approval of the first spot Bitcoin…
The post How Bitcoin’s road to new ATH was reflected in on-chain data appeared first on CryptoSlate.
Undoubtedly, one of the prerequisites for the mass adoption of blockchain technology is secure and seamless cross-chain interoperability. Many potential applications, particularly in complex and regulated sectors, simply can not be deployed without common guidelines and interface definitions. Without these, as is currently the case, applications that aim to go cross-chain must rely on custom…
The FBI’s Internet Crime Complaint Center (IC3) has released its 2023 report, revealing a significant rise in crypto-related fraud and the use of digital assets in cybercrime. The 2023 IC3 report serves as a comprehensive overview of the current state of internet crime, including the challenges and risks posed by the use of crypto in…
The AI crypto sector’s combined market cap has more than doubled to $25.1 billion in less than a month as the world remains engrossed in developments in AI technology, according to CryptoSlate data. Overall, the market has increased roughly 150% from $9.64 billion on Feb. 16. The sector has also seen short-term growth, with gains…
US Federal Reserve Chair Jerome Powell told lawmakers that the regulator remains far from adopting or even recommending a central bank digital currency (CBDC). Powell made the statement during a March 7 Senate Banking Committee hearing on monetary policy. The Fed chair’s testimony aimed to quell fears over privacy concerns, emphasizing that the Federal Reserve…
Quick Take Realized price, a metric reflecting the collective price at which each coin was last utilized on-chain, experienced significant fluctuations over the past week. The short-term holder (STH) realized price, showing the average on-chain acquisition price for coins moved outside exchange reserves within the past 155 days, is inching towards $50,000 – a notable…
The Arizona State Senate passed a resolution to consider digital assets — specifically Bitcoin exposure — as potential investments for the state’s retirement systems. The 56th legislature — Senate Concurrent Resolution 1016 (SCR 1016) — proposes that the Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS) examine the viability of…
Quick Take In an extraordinary 24-hour period, Bitcoin soared to a new all-time peak of around $69,200, then experienced a rapid sell-off, dropping the price to near $59,500. Following this tumultuous drop, Bitcoin has since rebounded and is now stabilizing at approximately $67,000. BTCUSD Bitstamp: (Source: Tradingview) This precarious and sudden market volatility triggered a…
Bitcoin experienced a notable price adjustment, declining nearly 9% following its ascent to a record-setting pre-halving all-time high. The leading digital currency, which captured significant attention for its surge to $69,324, subsequently corrected to roughly $64,580 within an hour — illustrating the market’s volatility. Bitcoin price action has remained subdued under pressure, with the flagship…
BlackRock has filed an amendment with the SEC to integrate Bitcoin exposure in its Strategic Income Opportunities Fund (BSIIX), according to a March 4 filing. BSIIX’s total fund size stood at $36.5 billion, while its share class total net assets were $24.2 billion as of March 1. The fund typically invests in fixed-income securities and other…
Anthropic is launching its latest generative AI (GenAI) technology, Claude 3, with the claim that it is superior to OpenAI’s Chat GPT-4, according to a March 4 press release. The new suite of models, comprising Claude 3 Haiku, Claude 3 Sonnet, and the most advanced, Claude 3 Opus, is positioned to rival OpenAI’s GPT-4 in…
Binance is in hot water in Nigeria in the aftermath of its settlement with the U.S. Department of Justice (DOJ). Nigeria’s House of Representatives Committee on Financial Crimes issued an ultimatum to Binance CEO Richard Teng on Friday, according to a local news report. Ginger Onwusibe, the chairman of the committee, has asked Teng to…
The crypto market has entered March with its foot firmly on the accelerator despite showing signs of a slight slowdown from its recent rapid ascent. Bitcoin (BTC) has continued to hover around the $62,000 mark, showcasing a resilient stance amid varying market sentiments after its remarkable rally past the $60,000 threshold to a high of…
Consensys CEO and Ethereum co-founder Joseph Lubin said the world is on the cusp of a generational paradigm shift fueled by decentralization as the current monetary system of the world is failing. He made the statements during a fireside talk at ETHDenver, where he discussed his thoughts on what could drive the next supercycle in…
Grayscale CEO Michael Sonnenshein said the financial industry has “never seen such insatiable demand for an ETF wrapper” as it has seen with Bitcoin ETFs. Sonnenshein made the statement during a CNBC interview on March 1, where he shared his insights about the performance of spot Bitcoin ETFs and the market’s response to their recent…
The US Energy Information Administration (EIA) agreed to stop the emergency survey of Bitcoin miners as part of an agreement to end the lawsuit filed by several industry players, including the Texas Blockchain Council. According to the March 1 court filing, the EIA must destroy any survey information it has already received and information yet…
Hungary is advancing a legislative proposal that would enable banks, investment funds, and asset managers to offer services in Bitcoin and other cryptocurrencies, according to a March 1 report by Bloomberg Law. The initiative marks a significant development in Hungary’s financial sector, aligning with a broader European movement towards the adoption of digital assets. Should…
SynFutures, a decentralized perps exchange, has been waking waves in DeFi for the past few years. It has prominent investors, a large user base, and an impressive trading volume, which means it has all the factors that could make it a project to watch in 2024 and beyond. In this article, let’s dive into SynFutures…
El Salvador and several forward-thinking corporations, including Nexon and Tahini’s, are witnessing substantial returns on their Bitcoin investments, challenging the wave of skepticism they faced from the media and financial analysts. Despite enduring a barrage of negative press when they made their investments over the last few years, the Bitcoin stacks they built up are…
Quick Take Bitcoin Exchange-Traded Funds (ETFs) are witnessing a remarkable surge, setting a new record with the biggest day of inflows to date. Data from BitMEX shows a $673 million inflow in a single day, the equivalent of 11,122 Bitcoin. ETF Data in dollars: (Source: BitMEX) The spike in inflows signifies an increased interest in…
Bitcoin crossed $60,000 on Feb. 28 in a remarkable one-day candle, posting a 20% increase in just three days. However, the short stint at this level means we’ll have to wait another 24 hours before any meaningful on-chain data becomes available. However, the possibility of a correction within the next 24 hours can be analyzed,…
The Chamber of Digital Commerce filed an amicus curiae defending crypto exchange Kraken in the lawsuit initiated by the US SEC, according to Feb. 27 court filings. The Chamber explained that the purpose of the amicus brief is to end the SEC’s attempted regulation of the digital asset industry through enforcement without legislative authority. The…
Ethereum Foundation said the highly anticipated Dencun upgrade has been “successfully activated on all testnets” and is scheduled for deployment on the mainnet by Mar. 13 — at epoch 269568, according to a Feb. 27 statement. According to the Foundation, the upgrade will usher in significant changes, including introducing ephemeral data blobs with EIP-4844. This is…
Open interest, the total number of outstanding derivative contracts that have not been settled, is an important metric for gauging market health and sentiment. An increase in open interest means new money entering the market, showing heightened trading activity and interest in Bitcoin. Conversely, a decline suggests closing positions, potentially indicating a change in market…
A group of Senate Republicans, led by Senator Ted Cruz of Texas, is taking legislative steps to restrict the Fed’s capacity to introduce a central bank digital currency (CBDC), spotlighting the issue as a potential focal point in the 2024 presidential campaign discussions. The legislative effort reflects broader concerns over privacy and the role of…
The following is a guest post from Robert Rhodin, the CEO of KeychainX. As the crypto market’s capitalization has grown, the diversity and complexity of assets also increase. This growth, supported by advanced technology and innovations, also increases the number of lost or inaccessible assets. It is estimated that hundreds of billions of dollars of…
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Bitcoin’s mempool is a holding area for transactions broadcast to the network but not yet included in a block. Analyzing the mempool provides insight into network congestion, transaction demand, and fee trends, offering a unique vantage point on the state of the Bitcoin ecosystem. During the final months of 2023 and the early weeks of…
In November 2023, the Cosmos Hub community approved the contentious proposal 848, which reduced the maximum inflation rate of the native token ATOM to 10% from 20%. At the time, ATOM’s actual inflation rate stood at 14%. The proposal was expected to fall through. However, just before the deadline, there was a surge of votes…
The Energy Information Administration (EIA) paused the controversial survey of crypto mining firms on Feb. 23 following a lawsuit from members of the crypto mining sector. Crypto mining company Riot Platforms and the Texas Blockchain Council launched the lawsuit on Feb. 22. The case names the EIA, the Department of Energy, the Office of Management…
CoinMarketCap has announced the launch of the inaugural CMC Crypto Awards to recognize the accomplishments of networks, people, and technology in the crypto industry. The awards are scheduled to take place between Feb. 21 and March 6. The selection of winners will rely on CoinMarketCap data, insights from expert panels, and community votes, with the…
In virtually any industry, from traditional retail to cutting-edge technology, the significance of customer onboarding remains a constant and critical factor in shaping the trajectory of a business. It’s the handshake, the warm welcome, and the guiding light that ushers new customers into a world of products or services. This initial experience defines a company’s…
South Africa announced plans to weave digital payments and crypto into its financial fabric to boost the economy for marginalized groups. The announcement was made in the country’s 2024 budget and underlines the government’s drive to build a digital economy through active collaborations between public and private sectors to enhance financial innovation. The budget targets…
Nvidia reported increased demand for generative artificial intelligence (AI) and accelerated computing in its latest earnings report on Feb. 21. Jensen Huang, founder and CEO of Nvidia, said: “Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations.” Huang added that Nvidia RTX has become a…
The First Digital USD (FDUSD) stablecoin has overtaken Circle-issued USD Coin (USDC) as the second-most popular pair for Bitcoin during the last five months, thanks to the zero-trading fee program on Binance. CCData’s latest stablecoin report revealed a significant uptick in FDUSD’s trading volume on centralized exchanges — primarily Binance — which has taken its…
Celsius co-founder and ex-CEO Alex Mashinsky intends to rely on the same lawyers used by former FTX CEO Sam Bankman-Fried (SBF) to defend him against the criminal charges filed by the Department of Justice’s Southern District of New York (SDNY) in July 2023, Bloomberg News reported on Feb. 20. Prosecutors have asked Judge John Koeltl…
Last week, Bitcoin rode the bullish wave it got on last fall and broke above the coveted $52,000 level. Bitcoin regaining almost all of its losses since the collapse of FTX is a significant milestone for the industry that has been struggling to get out of a bear market for the better part of the…
The Japanese government approved a bill that permits Investment Limited Partnerships to acquire and hold crypto, indicating a shift in the country’s regulatory framework towards digital currencies. The Cabinet sanctioned the bill on Feb. 16. It is part of a broader legislative proposal to enhance Japan’s industrial competitiveness. It includes measures such as tax incentives…
Bitcoin prices climbed nearly 70% in the fourth quarter of 2023 and the crypto market has been rebounding, marking the re-entry of small retail investors. However, retail investors, who lost billions of dollars in the 2022 market crash, are moving in more slowly and cautiously this time, compared to the bull market in 2021, according…
The following is a guest post from John deVadoss. Davos in January 2024 was about one theme – AI. Vendors were hawking AI; sovereign states were touting their AI infrastructure; intergovernmental organizations were deliberating over AI’s regulatory implications; corporate chieftains were hyping AI’s promise; political titans were debating AI’s national security connotations; and almost everyone…
FTX companies created and profited from Tether through an arrangement with a partner bank, according to a court case described by Bloomberg on Feb. 17. The case quoted Caroline Ellison, former CEO of Alameda Research, as stating: “Alameda could create USDT on credit through the unofficial Deltec Line of Credit and sell that USDT for…
OpenAI’s valuation has surged to above $80 billion after closing its latest deal, the New York Times reported Feb. 17. The company is reportedly undertaking a tender offer orchestrated by Thrive Capital to raise more funds while providing employees with a tangible benefit. Tender offer strategy Under the deal, OpenAI employees will be permitted to…
US-based spot Bitcoin ETFs have accumulated close to $37 billion in assets under management (AUM) within the first 25 days of trading, according to market data. Incidentally, the total AUM of Bitcoin ETFs is a sizeable fraction of the overall AUM of gold ETFs, according to data shared by Bitcoin Archive. Bitcoin ETF and gold…
In a recent interview with Fox Business, MicroStrategy Executive Chairman Michael Saylor delved into the transformative potential of Bitcoin, positioning it as a pivotal force in the shift from analog to digital capital. Saylor’s insights come at a critical time when the flagship crypto is experiencing renewed interest and growth, highlighting its role in the…
Major US crypto exchange Coinbase published its latest financial report on Feb. 15, including fourth-quarter and full-year results for 2023. For Q4 2023, Coinbase reported a net income of $273 million and an adjusted EBITDA of $305 million. For the full year, it reported a net income of $95 million and adjusted EBITDA of $964…
Mondelēz International, the global food and snacking powerhouse behind iconic brands such as Oreo, Cadbury, and Toblerone, has officially joined the Hedera Council, according to a Feb. 14 press release. Under the partnership, Mondelēz will leverage the Hedera blockchain to enhance digital transformation, supply chain management, and customer engagement. The Hedera Council, consisting of over…
On Jan. 26, Glassnode’s Sharpe Signal hit its lowest level since March 2020. It dropped to 0.2531 from a high of 0.7042 on Jan. 10. However, by Feb. 11, as Bitcoin’s price crossed $48,000, the Sharpe Signal increased to 0.7371. Graph showing Bitcoin’s Sharpe Signal from Jan. 1 to Feb. 12, 2024 (Source: Glassnode) This sharp…
Bitcoin (BTC) price saw a significant pullback, erasing gains from Monday as investors recalibrated their expectations for the Federal Reserve’s monetary policy following the release of January Consumer Price Index (CPI) data. The flagship crypto was trading at $48,753 as of press time — a notable deviation from its recent upward trajectory. The dip liquidated roughly…
The Philippines central bank, or Bangko Sentral ng Pilipinas, is preparing to launch a Central Bank Digital Currency (CBDC) in the next two years to counter the rising use of crypto in the country, according to local media reports. Central Bank Governor Eli Remolona Jr. announced the plan on Feb. 12 and said the regulator…
Bitcoin’s price saw a significant increase in February, jumping from $43,049 at the beginning of the month to $49,900 on Feb. 12, as of press time. Crossing $49,000 marks a significant milestone for BTC, as it indicates the potential to breach the $50,000 resistance and move closer to its all-time high. Alongside its price surge,…
Blockchain technology holds the potential to enhance various industries, particularly in the financial sector. Layer one protocols, which are essentially the base layer of any blockchain network, serve as key components of a blockchain system. Examples of layer one blockchains include Bitcoin, Ethereum, and Binance Smart Chain. These blockchains serve as the base layer for…
A recent study conducted by Toluna for Coinbase reveals that crypto users in California are poised to significantly influence the state’s political direction in the 2024 elections. With an estimated 27% of California adults, or about 8.2 million individuals, owning digital assets, this demographic represents a substantial and potentially decisive voting bloc. According to the…
The New York Attorney General’s Office (NYAG) raised its fraud claims against Digital Currency Group (DCG) and related parties on Feb. 9. The NYAG’s lawsuit originally alleged over $1 billion in losses; however, it has been amended to include another $2 billion in losses — bringing the total to $3 billion, allegedly affecting more than…
While the blockchain industry has correctly pointed out key issues in the worlds of legacy tech, finance, art, and culture, the revolution promised is yet to materialize, with the tools being designed to address those challenges are not yet at the required standard. Technical inefficiencies have stifled the development of truly decentralized systems, and decentralized…
Tech entrepreneur Sam Altman is reportedly looking to raise between $5 trillion and $7 trillion to help fund the production of microchips to increase availability for AI and machine learning, the Wall Street Journal reported on Feb. 8. The funding would be used to establish factories or fund existing chip manufacturing companies, with OpenAI only…
Bakkt Holdings said in a press release on Feb. 8 that it is “confident” it will continue operating despite expressing concerns earlier over its liquidity in a regulatory filing. Bakkt wrote that “management remains confident” and intends to continue serving clients and moving toward profitability. The exchange added that its filing with the SEC for…
The Financial Services Commission of South Korea has announced that the implementation date of its Virtual Asset User Protection Law is July 19, 2024. Last year, the law was established to safeguard users in the digital asset market and instill a regulated environment. This legislation embodies provisions aimed at curtailing unfair trading practices and enforcing…
Bitcoin mining firm CleanSpark said that it will acquire four new mining facilities in a press release published on Feb. 6. The company said it has entered definitive agreements to acquire three “turnkey” Bitcoin mining facilities in Mississippi. Zach Bradford, CEO of CleanSpark, said: “With the addition of Mississippi to our portfolio, we are gradually…
Two digital assets, Monero’s XMR, and Multichain’s MULTI, saw a steep drop in value after Binance, the largest crypto exchange by trading volume, revealed that they would be delisted by Feb. 20. Earlier today, Feb. 6, Binance said XMR and MULTI, alongside other digital assets like Aragon (ANT) and Vai (VAI), would be delisted and removed…
Grayscale CEO Michael Sonnenshein urged regulators to approve spot Bitcoin exchange-traded fund (ETF) options in a statement on Feb. 5. Sonnenshein wrote in a post on X: “… I think it’s never been more important … to advocate for the development of a robust listed options market for spot Bitcoin ETFs. Although GBTC has been…
Montenegro has reportedly deported the former financial officer of Terraform Labs, Han Chang-Joon, back to South Korea to face criminal proceedings. According to reports, law enforcement agencies referred to him as J.C.H. He was “handed over to the competent judicial and police authorities in South Korea today in order to conduct criminal proceedings for more…
Former President Donald Trump expressed significant concerns about central bank digital currencies (CBDCs) and advancements in artificial intelligence (AI) during an interview on Fox’s Sunday Morning Futures. With the Republican Party potentially nominating him for the 2024 presidential election, Trump’s critical views on these issues are capturing widespread attention. CBDCs: A Pathway to Government Surveillance…
Several recently launched spot Bitcoin ETFs now rank alongside the largest commodity ETFs in terms of assets under management (AUM). Combining VettaETF’s list of commodity ETFs with its list of blockchain ETFs produces the following results: Rank Ticker Name AUM (in millions of dollars) 1 GLD SPDR Gold Shares 56,206.8 2 IAU iShares Gold Trust…
In January 2024 alone, cryptocurrency projects lost $127 million due to hacking and fraud – six times more than in January 2023 and three times more than last December. In the meantime, losses in the crypto industry from breaches in 2023 decreased by more than half compared to 2022. Should we expect this decline to…
The post Why governments should regulate stablecoins instead of developing CBDCs appeared first on CryptoSlate.
This year’s Super Bowl will most likely exclude cryptocurrency-related advertisements, CNN reported on Feb. 2. Paul Hardart, a clinical professor of marketing for New York University’s Stern School of Business, said audiences will likely see a “notable shift away” from tech-related advertisements, especially those featuring crypto and AI. Hardart said in a statement to CNN:…
Binance announced on Feb. 1 that it has frozen $4.2 million of XRP that was stolen from a Ripple executive one day earlier. Binance CEO Richard Teng said: “After finding out early on about the exploit … we’re happy to say that the Binance team has managed to freeze $4.2 Million worth of XRP stolen…
Coinbase and Ripple are among the largest donors to a super PAC that aims to support pro-crypto politicians, Bloomberg reported on Jan. 31. Coinbase has contributed $24.5 million to Fairshake, PAC spokesperson Josh Vlasto told Bloomberg. Coinbase CEO Brian Armstrong has also personally given $1 million to the PAC. Those donations make up about one-third…
In a move to bolster its global expansion efforts, Coinbase has enlisted George Osborne, a prominent figure in U.K. politics and finance. Osborne, known for his tenure as the U.K.’s Chancellor of the Exchequer (Treasury) from 2010 to 2016 and his contributions to the country’s economic and financial policies, joins Dr. Mark T. Esper, former…
Coinbase CLO Paul Grewal criticized a minimalistic legal filing from the U.S. Securities and Exchange Commission (SEC) on Jan. 30. Grewal wrote in a post on X: “Below is the administrative record of [the SEC’s] decision rejecting our petition for digital assets rules. See for yourself whether it’s even close to complete or sufficient to…
Following a persistent decline in Bitcoin outflows from the Grayscale Bitcoin ETF, Bitcoin’s recent surge from $39,900 to over $43,500 has seen the value of Grayscale’s crypto holdings grow by $1.25 billion since the end of last week. Grayscale Holdings (source: Arkham Intelligence) While roughly 18,000 BTC has left the fund since Friday, as per…
Quick Take The Bitcoin Exchange-Traded Funds (ETFs) have passed through 11 trading days, revealing interesting dynamics about their performance against the Net Asset Value (NAV). An ETF’s ideal situation is for its market price to equal the NAV per share. The Grayscale Bitcoin Trust (GBTC), for example, once traded at a hefty 50% discount. However,…
Vanguard decided not to offer clients access to Bitcoin ETFs because the flagship cryptocurrency is an “immature asset class” that does not align with its company philosophy, according to the firm’s executives. Vanguard Global Head of ETF Capital Markets and Broker and Index Relations Janel Jackson made the statement during a QA session, where she…
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In a groundbreaking development for Bitcoin’s data indexing landscape, Trac Core has announced the launch of “Trac Core for TAP Protocol,” according to a Jan. 26 press release. Trac Core’s journey began in May 2023, focusing on developing decentralized data indexing technologies based on Ordinal-based metaprotocols. The TAP Protocol launch marks a pivotal moment in…
A top Bitwise executive acknowledged on Jan. 26 that his firm’s spot Bitcoin ETF has received hundreds of dollars of unsolicited Bitcoin. Co-founder & CTO Hong Kim wrote that the Bitwise Bitcoin ETF (BITB) received 998,085 satoshis worth $419 across 35 UTXOs over two days. He suggested that this will simply increase the ETF’s value,…
BlackRock’s iShares Bitcoin ETF (IBIT) has set a new benchmark in the cryptocurrency investment space by amassing over $2 billion in assets under management (AUM) just ten days after its trading debut, according to Bloomberg Terminal data. BlackRock now holds almost 50,000 BTC through its ETF. The rapid accumulation reflects the strong investor interest but…
Analysts from banking giant JPMorgan believe that the profit-taking from the Grayscale Bitcoin Trust (GBTC) may have concluded, potentially alleviating the downward pressure on Bitcoin prices. The analysts explained that they had estimated that GBTC could see as much as $3 billion in outflows from investors previously exposed to its discount. But with the flow…
Flipside Crypto reported that blockchain users and activity grew throughout 2023 in a report shared with CryptoSlate on Jan. 25. The analytics company wrote: “Crypto recently has been fluctuating through extremes, with on-chain activity and user sentiment swinging wildly throughout the last year … but ultimately, the past many months have concluded on a high…
A new investigation into FTX should have a limited impact on the company’s bankruptcy case, Bloomberg reported on Jan. 24. The investigation results from a recent order from a Philadelphia court of appeals that requires the appointment of an examiner. Judge John Dorsey emphasized the potential cost of such an examination, commenting in a hearing…
The IRS on Jan. 22 reminded all taxpayers to answer a question about digital assets and report all digital asset-related income. The question asks taxpayers: “At any time during 2023, did you: (a) receive (as a reward, award or payment for property or services); or (b) sell, exchange, or otherwise dispose of a digital asset…
Hong Kong is gearing up to launch its first spot crypto exchange-traded funds (ETFs) by mid-2024, a move that could redefine the landscape of digital asset investment in the region, according to Jan. 22 news reports. Multiple firms are looking to launch spot Bitcoin ETFs within the coming months now that Hong Kong has softened…
BlackRock’s iShares Bitcoin Trust recorded its first discount to its Net Asset Value (NAV) on Jan. 19, dropping to a discounted rate of -0.30%, according to official BlackRock data. BlackRock discount to NAV “The above table and line graph present information about the differences between the daily closing price for shares of the fund and…
Despite Beijing’s 2021 ban on crypto trading, a thriving underground market reportedly continues to operate in China. The Wall Street Journal (WSJ) reported that investors circumvent the country’s stringent regulations through informal networks through VPNs, social media, and physical trading. China is one of the world’s most stringent regions for crypto trading. Authorities actively pursue…
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The U.S. Securities and Exchange Commission (SEC) on Jan. 19 opened comments on proposals related to options trading on Bitcoin ETFs. One SEC notice concerns a proposed rule change allowing Nasdaq to list and trade options on BlackRock’s iShares Bitcoin Trust. A second SEC notice concerns a proposed rule change that would allow Cboe Exchange…
The Bitcoin and digital asset mining firm Hut 8 responded to a recent critical report in a statement on Jan. 19. The mining company wrote: “Hut 8 Corp is aware of a short report … by J Capital Research, which is a self-proclaimed group of biased activists who clearly disclose that they will profit if…
An analyst for Bloomberg Intelligence placed Coinbase’s chances of prevailing in its legal battle with the U.S. Securities and Exchange Commission (SEC) at an optimistic 70%. In a Jan. 19 post on social media platform X (formerly Twitter), Elliot Stein, Bloomberg Intelligence’s senior litigation analyst, suggested that the cryptocurrency trading platform was likely to secure…
The period leading up to the ETF launch was marked by an increase in Bitcoin’s price. And while the launch of the first spot ETFs in the U.S. failed to create the bombastic bull rally many were hoping for; it showed just how significant local markets are in driving global prices. Specifically, Glassnode’s data on…
The DYDX token, the native token of the decentralized trading platform dYdX Chain, is trading above $3 for the first time this year after the platform became the largest DEX by daily volume. Data from CoinMarketCap shows that the platform’s v4 version, based on the interchain protocol Cosmos, achieved an impressive 24-hour trading volume of…
Two U.S. agencies announced on Jan. 16 that controversial transaction reporting rules do not apply to digital assets (ie. cryptocurrency). The Internal Revenue Service (IRS) and Department of the Treasury said: “Businesses … do not have to report the receipt of digital assets the same way as they must report the receipt of cash until…
Asset management firm ARK Invest has strategically incorporated the Ark 21Shares Spot Bitcoin ETF (ARKB) into its Next Generation Internet ETF (ARKW), according to the company’s latest trade filing seen by CryptoSlate. In this move, the Cathie Wood-led firm liquidated 757,664 shares of the ProShares Bitcoin Strategy ETF (BITO) at an approximate value of $15.8…
Ripple CEO Brad Garlinghouse openly criticized SEC chair Gary Gensler and said his rigid stance toward crypto regulation and repeated legal actions have made him a “political liability.” Garlinghouse made the statement during an interview with CNBC at the World Economic Forum in Davos on Jan. 16. He also shared his thoughts on potential ETFs…
Quick Take The Accumulation Trend Score, a metric that measures the relative strength of Bitcoin (BTC) accumulation by different entity wallet cohorts, has registered a significant shift. Notably, the trend score has plummeted to 0.5, the lowest level since October 2023, just prior to Bitcoin’s monumental rise from $25,000 to $49,000, spurred by the launch…
Sui made CryptoSlate’s top gainers’ list for Jan. 15 following a 13% increase during the past day that pushed its value to a new all-time high of $1.43. This continues a persistent uptrend that the digital asset has enjoyed during the last 30 days, outperforming major cryptocurrencies like Bitcoin, Ethereum, Solana, etc. According to CryptoSlate’s…
The Big Blockchain Game List, created by Jon Jordan, found that 407 games out of the 1,322 games that were ever included in the list, were discontinued last year. Therefore, 31% of all blockchain games in the list were halted in 2023. Of the 407 games that went dark, the majority were shuttered in the…
BlackRock has reportedly bought a staggering 11,500 Bitcoin from the available supply during the latest dip since the launch of its spot Bitcoin ETF. This amount is significant, considering that only 900 BTC are issued daily. The purchase by BlackRock effectively represents about 13 days’ worth of Bitcoin production being absorbed by a single player.…
India blocked access to global crypto exchanges, including Binance, KuCoin, and OKX, on Jan. 12. India has instituted an IP block that prevents Indians from accessing the URLs of foreign crypto platforms. As per CryptoSlate’s investigation, however, it was still possible to access the websites of Binance, OKX, and KuCoin via Google Chrome without using…
Jim Cramer, the outspoken host of CNBC’s “Mad Money,” recently sparked discussions in the financial community with his latest views on Bitcoin, signaling a “major top” in the cryptocurrency’s value. His tweet, discussing insights from trader Larry Williams, departed from his earlier bullish comments on Bitcoin. However, the Mad Money host did not divulge the…
Senator Elizabeth Warren asserted on Jan. 11 that U.S. securities regulators incorrectly decided to approve spot Bitcoin ETFs. Warren wrote in a post on X: “The [Securities and Exchange Commission] is wrong on the law and wrong on the policy with respect to the Bitcoin ETF decision. If the SEC is going to let crypto…
The derivatives market for Bitcoin (BTC) and Ethereum (ETH) experienced significant fluctuations following the incident on Jan. 9, where the U.S. Securities and Exchange Commission’s (SEC) Twitter account was compromised. This false announcement of a spot Bitcoin ETF approval led to a series of market reactions that wiped out over $50 billion in Bitcoin’s market…
Quick Take HODL waves, a visual depiction of Bitcoin’s supply based on when it last moved, are revealing a budding cohort in the digital asset domain. Short-term holders, defined as those retaining Bitcoin for a maximum of 155 days. Looking specifically at investors who have held for three months or less are increasing in number…
Two more asset managers have temporarily waived fees for their spot Bitcoin ETFs, Bloomberg ETF analyst James Seyffart said on Jan. 9. Seyffart indicated that WisdomTree will waive its fees for 6 months or the first $1 billion of assets, reducing fees from 0.30% to zero during the waiver period. He also indicated that Valkyrie…
The following is a guest post by Kadan Stadelmann, CTO at Komodo Blockchain. A great debate on Bitcoin Ordinals, essentially NFTs on the Bitcoin blockchain, has broken out. One side of the debate believes there is no place for Ordinals on the Bitcoin blockchain. The other side believes ordinals are the perfect innovation for the…
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What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops…you must lock a minimum of 20,000 ACS If you don’t have enough, buy ACS on…
What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops…you must lock a minimum of 20,000 ACS If you don’t have enough, buy ACS on…
Quick Take Bitcoin’s performance on Jan. 3 marked a significant downturn as it experienced its largest one-day drop since Dec. 11, a decrease of 4.7%. In the last twelve months, only five instances exhibited a greater one-day drop. Daily Price Performance: (Source: Glassnode) This decline triggered over $700 million of liquidations within a 24-hour window,…
The recent episode of SlateAsia brought together prominent voices in the space to discuss the tumultuous start of 2024 for Bitcoin and the rising interest in Ordinals. The podcast featured Liam Wright, Senior Editor of CryptoSlate, Nate Whitehill, the CEO of CryptoSlate, and Jason Fang from Sora Ventures. Their conversation centered on the SEC’s potential…
Quick Take The US national debt has recently hit an unprecedented landmark, crossing the $34 trillion mark. As reported by analyst Joe Consorti, the national debt has seen an alarming increment of $2.5 trillion in just six months, according to Consorti. In a broader timeframe, an addition of approximately $10.5 trillion in the past three…
New cryptocurrency tax reporting obligations came into effect on New Year’s Day, crypto advocacy group CoinCenter said on Jan. 2. According to CoinCenter, those new rules require anyone who receives at least $10,000 in cryptocurrency to report transaction information to the IRS. Required data includes the name, address, and Social Security number (SSN) of the…
Quick Take The opening of 2024 has seen Bitcoin demonstrating a robust performance, with an 8% increase already recorded. A notable milestone was achieved when Bitcoin hit the $45,900 mark, which, interestingly, would be a high in 2023. BTCUSD: (Source: Trading View) Despite a minor sell-off towards the end of 2023, recent data shows a…
The United States’ main securities regulator could inform spot Bitcoin ETF applicants of approval in the coming days, Reuters said on Dec. 29. According to that report, the U.S. Securities and Exchange Commission (SEC) may tell applicants on Tuesday, Jan. 2 or Wednesday, Jan. 3 that they have clearance to launch their exchange-traded funds. This…
Bitwise has also updated its S-1 form submitted by the Dec. 29 deadline set by the SEC and revealed a planned $200 million seed investment for its spot Bitcoin (BTC) exchange-traded fund (ETF). The amount is 20x larger than the $10 million seed investment recently announced by BlackRock for its spot Bitcoin ETF. The SEC…
The past year has witnessed the ascendancy of Zero-Knowledge (ZK) technology. From its potential to increase and secure privacy protocols in the Web3 space, to its increased efficiency in validating transactions, the implementation of the tech is further cementing the growth and integration of blockchain into our daily lives. Its role in increasing efficiency has…
VanEck amended its spot Bitcoin ETF application with the U.S. Securities and Exchange Commission (SEC) on Dec. 29. The company’s updated S-1 form notably removes immediate allowance for in-kind transactions involving Bitcoin. The Dec. 29 update says that authorized financial firms will deliver and receive only cash during share creation and redemption. It adds that…
BlackRock submitted an update to its spot Bitcoin ETF application with the U.S. Securities and Exchange Commission (SEC) on Dec. 29. BlackRock’s filing now names two authorized participants that will be involved in share creation and redemption: Jane Street Capital and JP Morgan Securities. Bloomberg ETF analyst Eric Balchunas noted that JP Morgan’s inclusion is…
What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops…you must lock a minimum of 20,000 ACS If you don’t have enough, buy ACS on…
Quick Take In the world of digital asset exchanges, Coinbase holds a unique position as a preferred choice for U.S. institutions, partly due to its status as a publicly traded company. It also serves as the principal custodian for the spot Bitcoin ETFs, currently under consideration by the SEC. However, as 2023 draws to a…
What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops…you must lock a minimum of 20,000 ACS If you don’t have enough, buy ACS on…
Solana creator Anatoly Yakovenko recently referred to Solana as an Ethereum layer-2 solution through its Wormhole eigenlayer in a post on X. In the exchange, Yakovenko positioned the blockchain as an Ethereum layer-2 while responding to a tweet listing various other L2 solutions, including Arbitrum, Aztec, and Polygon, among others. He wrote: “Solana is ethereum!…
Bankrupt crypto exchange Mt. Gox has reportedly begun repaying creditors after about a decade since it collapsed. Several creditors of the failed firm revealed that they received fiat equivalents of their assets previously locked on the now-defunct exchange. The initial payment confirmation was shared on the social media platform X (formerly Twitter) on Dec. 21,…
Quick Take As 2023 draws to a close, analyzing options data provides revealing insights into Bitcoin’s perceived value. In the year-end options expiry on Dec. 29, $40,000 stands out as the distinct ‘call wall,’ a term used to describe the price at which the largest number of call options are set to expire. The market…
It has been widely accepted that Bitcoin ETF applications have been the main driver for Bitcoin’s return to the April 2022 level at above $40k. The thesis is simple: with a new layer of institutional legitimacy, the capital pool for Bitcoin inflow would deepen. From hedge funds and commodity trading advisors (CTAs) to mutual and…
The Bitcoin network witnessed a significant rise in mining difficulty, setting a new all-time high by surpassing 72 trillion at block height 822,528. The 6.98% increase from its previous level indicates an acceleration in mining operations around the globe, and the deployment of more powerful computing resources in the industry as miners prepare for the…
What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops…you must lock a minimum of 20,000 ACS If you don’t have enough, buy ACS on…
On Dec. 22, the U.S. Securities and Exchange Commission (SEC) admitted to making inaccurate statements in an ongoing case against Debt BOX, a cryptocurrency firm accused of significant fraud. The SEC alleges that Debt BOX defrauded investors of almost $50 million. Though its core claims remain, the SEC admitted today that its legal counsel unknowingly…
Fintech company Fideum Group said its collaboration with traditional payment giant Mastercard would enable it to “integrate digital assets into everyday financial activities.” In an interview with CryptoSlate, CEO Anastasija Plotnikova explained how the company’s status as the overall winner of the Mastercard Lighthouse FINITIV 2023 Fall Program will bolster its business and help serve…
Quick Take In 2024, the crypto market is set to witness two major events: the introduction of a Bitcoin spot ETF in January and the halving of Bitcoin block rewards in April. While both events will significantly influence the industry, the degree to which each event will affect market prices still remains a subject of…
Solana overtook XRP to become the fifth-largest cryptocurrency on the crypto market on Dec. 20, based on current data. As of 11:30 p.m. UTC, Solana (SOL) reported a market cap of $34.8 billion. XRP, a coin associated with Ripple, reported a market cap of $33.3 billion. Solana’s high market standing appears to be due to…
Quick Take As of Dec. 20, there has been an observable shift in the Bitcoin mining landscape, as the earnings from fees are beginning to surpass the conventional miner rewards. Traditionally, a miner is rewarded 6.25 Bitcoin for every block mined. However, due to an increasing frenzy surrounding inscriptions, the fees have begun to overtake…
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Ethereum MEV-relay bloXroute labs said it will reject blocks containing transactions from addresses listed on the Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals And Blocked Person List (SDN) list starting Dec. 18. In a Dec. 18 statement on X (formerly Twitter), the firm said: “Effective immediately, all bloXroute relays will reject block bids…
Leaders of the UK Treasury laid a set of rules called Digital Securities Sandbox (DSS) regulations before parliament on Dec. 18. A related memo explains that these regulations aim to create a controlled environment. This allows companies and regulators to test new technology in financial markets, overcoming existing regulatory obstacles and potentially fostering innovation in…
FTX Debtors filed an amended Chapter 11 reorganization plan on Dec. 16 that will potentially lead to millions of dollars worth of losses for the defunct crypto exchange’s creditors. The plan proposes valuing the creditors’ claims at crypto prices on Nov. 11, 2022, the day FTX filed its bankruptcy petition. In the days leading up…