Bitcoin News and Finance: What You Need to Know

Former Bitmex CEO Arthur Hayes has predicted that bitcoin will find a support level between $30,000 and $35,000. He contends that the ongoing bitcoin selloff is not due to outflows from Grayscale’s bitcoin trust (GBTC). “That argument is bogus,” he claimed, adding that bitcoin’s price movement is “anticipating the Bank Term Funding Program (BTFP) will not be renewed.” Ex-Bitmex Chief’s Bitcoin Price Prediction Arthur Hayes, co-founder and former CEO of crypto exchange Bitmex, has shared his bitcoin price prediction, explaining that he believes the cryptocurrency will form support between $30,000 and $35,000. In a blog post published Tuesday, Hayes detailed: I think bitcoin will find a local bottom between $30,000 and $35,000. Referring to his statement earlier this month that he expects a 30% correction for bitcoin, Hayes elaborated in Wednesday’s blog post that “A 30% correction from the ETF approval high of $48,000 is $33,600.” He also previously noted, “The washout could be ...

Elon Musk’s electric car company, Tesla, has maintained its bitcoin holdings. The company’s balance sheet for Q4 2023 shows net digital assets of $184 million. Musk is convinced that in the long term, Tesla will be the most valuable company on earth. The billionaire recently disclosed that another of his companies, Spacex, also owns “a bunch of bitcoin.” Tesla’s Bitcoin Holdings Stand at $184 Million Tesla, Elon Musk’s electric car company, released its fourth quarter 2023 earnings on Wednesday, showing net digital assets of $184 million on its balance sheet. Tesla has held this amount of digital assets since the fourth quarter of 2022. Tesla previously explained that its digital assets were made up almost entirely of bitcoin ( BTC ), noting that while the company accepts the meme cryptocurrency dogecoin (DOGE) for some merchandise , the amount of dogecoin it has accumulated is very small. Musk acknowledged during the earnings call that “there’s going to be bumps along the way” fo...

The Swiss financial markets regulator has granted the digital asset infrastructure firm Taurus the approval which allows its retail users to “create an account and trade digital assets and tokenized securities.” Besides receiving the FINMA approval, Taurus said it will be admitting new tokenized assets from Swiss companies that have selected TDX as their preferred venue. Secure and Compliant Trading The Swiss Financial Market Supervisory Authority (FINMA) has given Taurus, a digital asset infrastructure provider, the green light to open its financial services and TDX marketplace to retail users. The approval allows Taurus’ clients “to create an account and trade digital assets and tokenized securities.” According to a statement released on Jan. 23, the approval means that Taurus’ retail clients can now trade all digital securities accepted on TDX “in a secure and compliant manner.” Traders can conduct trades using several currencies, including the Swiss franc, euro, and the U.S. d...

The Avalanche Foundation, a non-profit organization seeking to support the avalanche ecosystem, has announced the rules covering its already active meme coin purchasing program. The institution has defined the holder count, concentration, liquidity, liquidity providers, lifespan, and market cap requirements that these projects need to fulfill to get selected and informed more projects are being considered on an ongoing basis. Avalanche Announces Meme Coin Purchasing Framework The Avalanche Foundation, a non-profit entity that supports initiatives on the Avalanche ecosystem, has announced the requirements to invest in meme coins using the $100 million Culture Catalyst fund launched in 2022. The foundation had previously reported on the purchase of these tokens but had not specified the conditions these meme coins should fulfill to be eligible for this purchasing plan. For any meme coin project to be eligible for these purchases, it must have at least 2,000 unique holders, and the ...