Bitcoin News and Finance: What You Need to Know

Asset management firm Vaneck has pledged to donate 5% of its spot bitcoin exchange-traded fund (ETF) profits to support Bitcoin Core developers for at least 10 years. The company is currently awaiting approval from the U.S. Securities and Exchange Commission (SEC) to launch its spot bitcoin ETF. The securities regulator is expected to approve multiple applications early next week. Vaneck to Donate 5% of Spot Bitcoin ETF Profits Asset manager Vaneck pledged financial support for Bitcoin Core developers on Friday, ahead of the U.S. Securities and Exchange Commission (SEC)’s decision on its spot bitcoin exchange-traded fund (ETF) application. Vaneck is one of 11 companies vying to launch the first U.S. spot bitcoin ETFs. “We’re not Bitcoin tourists at Vaneck. We’re in it for the long haul,” Vaneck wrote on social media platform X Friday. The asset manager added: That’s why we made an initial $10k donation and signed a pledge to donate 5% of our bitcoin ETF profits (if approved) to s...

Bitcoin’s network difficulty experienced its first increase of 2024 on Jan. 5, at block height 824,544, rising 1.65% to an unprecedented network peak of 73.2 trillion. This inaugural adjustment of the year succeeds the 27 dynamic shifts witnessed in 2023, including a total of 20 increases. Bitcoin’s Difficulty Hits 73.2 Trillion On Jan. 5, 2024, Bitcoin once again broke another record in terms of how difficult it is to discover a bitcoin ( BTC ) block reward. The network’s difficulty rose to 73.2 trillion after a 1.65% uptick on Friday evening Eastern Time (ET). The change occurred at precisely 7:41 p.m. (ET) at block height 824,544 and it follows the 6.98% increase that took place nearly two weeks ago at block height 822,528. Fundamentally, Bitcoin’s difficulty represents a metric reflecting the challenge involved in identifying a block subsidy to append a fresh block to the blockchain. The difficulty level changes every two weeks, give or take, to maintain a consistent block t...

The Blockchain Basics Act, introduced recently into the Missouri State House, seeks to guarantee crypto-related rights, including self-custody, transacting, mining, and staking, to the state’s people. Proposed by Rep. Phil Christofanelli, the bill aims to take the crypto legislation fight to the state level, according to Dennis Porter, CEO and co-founder of the Satoshi Action Fund. ‘Blockchain Basics Act’ Proposes to Guarantee Crypto Rights at a State Level in Missouri The fight for crypto legislation clarity is changing. A new bill, the “Blockchain Basics Act” ( HB2107 ), introduced in Missouri’s State House, seeks to guarantee a series of cryptocurrency rights to the people of Missouri. Introduced by Rep. Phil Christofanelli on December 27, the bill protects the right of Missouri’s citizens to the custody of their cryptocurrency assets, the right to exert cryptocurrency mining activities without restrictions, the right to transact and make payments with crypto, and eliminates sta...

The bankrupt cryptocurrency lender Celsius Network announced its plan to unstake significant holdings of ethereum to facilitate asset distribution to its creditors. This move is part of the firm’s ongoing efforts to restructure and resolve outstanding liabilities. Crypto Lender Celsius to Unstake Ether Celsius Network’s decision to unstake ethereum ( ETH ) reflects a broader strategy to manage its assets amidst a challenging phase. After filing for Chapter 11 bankruptcy protection in July 2022, the company faced a liquidity crisis following the downward spiral of the crypto market. The unstaking process is intended to provide necessary liquidity to offset costs incurred during the restructuring process and ensure timely distributions to creditors. “Celsius will unstake existing ETH holdings, which have provided valuable staking rewards income to the estate, to offset certain costs incurred throughout the restructuring process,” the company announced on Friday. The company added:...