Bitcoin News and Finance: What You Need to Know

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 inflation and then pretend to fight it. “The Fed creates inflation to both enable the federal government to run large budget deficits and to prop up financial markets,” the economist emphasized. Peter Schiff on Fed Rate Cut and Inflation Economist and gold bug Peter Schiff shared his perspective on the U.S. economy, the Federal Reserve’s policy, and the likelihood of a March interest rate cut in a series of posts on social media platform X this week. The Fed decided to leave interest rates unchanged on Wednesday. Federal Reserve Chairman Jerome Powell also indicated that the Federal Open Market Committee (FOMC) won’t cut rates in March. “I don’t think it’s likely that the committee will reach a level of...

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 61,000 Bitcoins The U.K. Metropolitan Police have seized more than 61,000 bitcoins from a massive investment fraud in China, marking one of the largest cryptocurrency seizures globally, the Financial Times reported Tuesday. The bitcoin seizure information was disclosed during a trial of 42-year-old Jian Wen, who is accused of laundering bitcoin for her former employer, Zhimin Qian (also known as Yadi Zhang), an alleged fugitive from China. Wen moved to the U.K. in 2007 from China and became a British citizen in 2018. At the start of the trial at Southwark Crown Court on Monday, the prosecution informed the jury that the seized BTC originated from an investment fraud conducted by Zhang in Chi...

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 Assets Associated With Valkyrie’s BRRR Recently acquired by Coinshares, Valkyrie, the fund management company, declared that Bitgo will engage in “custody and safekeeping of the Trust’s bitcoin holdings,” indicating that the custodian will oversee the funds of Valkyrie’s spot bitcoin ETF. Based in Nashville, Valkyrie was among the nine newly introduced spot bitcoin ETFs that became operational concurrently with the freshly revamped bitcoin trust managed by Grayscale. The contract stipulates that Bitgo must uphold an insurance policy, which at the very least, provides coverage against duplication and theft of private keys, internal theft or fraudulent acts by Bitgo’s staff or executives, a...

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 anticipate that bitcoin prices will hover between $30,000 and $60,000 during the halving period (around April 2024), while 30% foresee the price exceeding the $60,000 mark. Bitget Survey Shows High Optimism Among Crypto Investors Bitget ’s latest survey shared with Bitcoin.com News, uncovers a robust conviction in bitcoin’s capacity to outdo its previous peak by 2024, with 84% of investors foreseeing substantial growth preceding the forthcoming halving occurrence. The approach adopted by Bitget for this survey facilitated a thorough grasp of the worldwide investor sentiment regarding crypto assets. Engaging nearly 10,000 people from diverse regions, the study offered a broad perspective on the ant...