Bitcoin News and Finance: What You Need to Know

Federal Reserve Chairman Jerome Powell has provided an update to Congress members regarding the Fed’s central bank digital currency (CBDC) work. “If we’re going to have a CBDC, Congress needs to authorize it,” he stressed. Moreover, the Fed chair reportedly said that a framework for stablecoins is needed. Fed Chair Powell on US CBDC and […]

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has outlined a “very real economic difference” between crypto like bitcoin and fiat currencies like the U.S. dollar. “You have a whole central bank, and support for one currency, generally per economic region,” the SEC chief noted, adding that we don’t have the same in bitcoin. […]

At the time of writing, the value of the crypto economy has reached $1.93 trillion, with bitcoin alone accounting for $1 trillion of this total. Bitcoin and ethereum have experienced increases of 4.2% and 5.3%, respectively. Meanwhile, a few crypto assets have posted even more significant gains against the U.S. dollar. DYM surged by 16.8%, […]

Genesis Global Capital has received authorization to offload its stake in Grayscale’s Bitcoin Trust (GBTC), valued at approximately $1.3 billion. Genesis Global Permitted to Liquidate $1.3 Billion in Bitcoin Trust Shares According to Bloomberg, Genesis Global Holdco LLC secured Judge Sean Lane’s approval to liquidate its GBTC investments, currently estimated at $1.3 billion. The request […]

Microstrategy’s executive chairman, Michael Saylor, has explained why bitcoin has become “the world’s most popular investment asset.” He noted that following the rebalancing after the launch of spot bitcoin exchange-traded funds (ETFs), the crypto has “found its footing and now people are beginning to realize that there’s 10 times as much demand for bitcoin coming […]

Skybridge Capital founder Anthony Scaramucci has explained that it is not too late to buy bitcoin. With bitcoin’s price surging past $50,000, he anticipates that many are wondering if they’ve missed the opportunity to buy the crypto. Scaramucci stressed that his answer is a hard “no.” Anthony Scaramucci: Bitcoin Is Still a Good Buy Skybridge […]

Economist and gold bug Peter Schiff has warned that the current bitcoin price surge looks like “another classic pump-and-dump.” Noting the significant excitement around the new spot bitcoin exchange-traded funds (ETFs), he expressed his skepticism, stating: “I wonder when the massacre will begin.” Peter Schiff on Bitcoin ‘Pump and Dump’ The price of bitcoin soared […]

On Tuesday, the crypto platform Umoja unveiled its beta version of hedging-as-a-service, designed to shield users from crypto losses. Umoja’s mission is to enhance the safety and accessibility of crypto investments, opening up hedging opportunities in a market valued at $500 trillion. Umoja Debuts Beta Hedging Platform The crypto platform Umoja has announced the beta […]

The U.S. Securities and Exchange Commission (SEC) has adopted rules to require firms that act like dealers to register with the Commission. A lawyer explained that the securities regulator took a shot at decentralized finance (Defi) with the rules, which explicitly target decentralized exchanges’ (DEX) liquidity providers (LPs) with at least $50 million in assets. […]

The crypto industry has responded to criticism from Hillary Clinton, who said that cryptocurrency can undermine the role of the U.S. dollar as the world’s reserve currency. Galaxy Digital CEO Mike Novogratz argued that the only thing that can undermine the U.S. dollar as a reserve currency is reckless spending by both U.S. political parties. […]

Personal finance expert and best-selling author Dave Ramsey’s firm Ramsey Solutions has maintained that crypto is not a good investment. “We’re not saying cryptocurrency is going to go away. And we’re not saying it’s horrible … But as things stand today, just say no,” advised the Ramsey Solutions team. Ramsey Solutions Advises ‘Just Say No’ […]

On Monday, the Web3 blockchain interoperability platform Analog announced the team has raised $16 million in a funding round from a wide array of venture capitalists and firms including Balaji Srinivasan, Tribe Capital, and Wintermute. Furthermore, Analog has launched its Launch Partners Program to bolster the presence and market dominance of cross-chain initiatives. $16 Million […]

Disney, one of the biggest entertainment companies, has decided to acquire a $1.5 billion stake in Epic Games, makers of the known persistent metaverse platform Fortnite. The companies will collaborate to develop a metaverse featuring Disney-owned intellectual properties (IPs) which will benefit from interaction and coexistence with Fortnite. The Disney Metaverse Is Coming Disney is […]

Ethereum has shed a significant part of its supply since the London upgrade, applied in August 2021. According to ultrasound.money, a portal that records several statistics associated with the ETH burn, over 4 million ether (3.2%) have been removed from the network since the adoption of EIP-1559, which changed how fees are calculated. EIP-1559 Burns […]

Since the conclusion of the spot bitcoin exchange-traded fund (ETF) trading sessions on Feb. 9, 2024, the nine freshly launched ETFs have amassed 6,009.49 bitcoin, valued at approximately $288 million. Concurrently, Grayscale’s Bitcoin Trust (GBTC), which evolved into a publicly-traded exchange-traded product, has sold off about 2,252.2 bitcoin, amounting to roughly $108 million. New Bitcoin […]

Playdapp, a Web3 gaming platform, recently confirmed that it was a victim of a hacking incident which saw criminals mint tokens worth approximately $31 million. Playdapp said it has offered to reward the hackers if they agree to return the stolen assets and contracts. Crypto Exchanges Urged to Block Compromised PLA Tokens Playdapp, a Web3 […]

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has assured lawmakers that the securities regulator “takes its cybersecurity obligations seriously.” Lawmakers raised concerns following the hacking of the SEC’s account on social media platform X, where a post falsely announced the approval of spot bitcoin exchange-traded funds (ETFs). Gensler: SEC Takes Cybersecurity Obligations Seriously […]

Russian President Vladimir Putin says the U.S. dollar is the main weapon used by the United States to preserve its power across the world. However, he stressed that when “the political leadership decided to use the dollar as a tool of political struggle, a blow was dealt to this American power.” He called it a […]

Rich Dad Poor Dad author Robert Kiyosaki has cautioned about the impending downfall of the American empire, drawing parallels to the decline of the Roman Empire. “The Roman Empire ended in the same way with massive gladiators entertaining chubby Romans while their bankers debased their currency to pay soldiers and bills,” he said, adding that […]

This week, the Dydx Foundation revealed it has secured a $30 million allocation from the Dydx Chain Community Treasury. This financial infusion is designated to extend the foundation’s operational capacity by an additional three years, facilitating the execution of the project’s strategic roadmap. Community Treasury Allocates $30 Million to Dydx Foundation for Enhanced Ecosystem Innovation […]

Citrea, a project that aims to scale Bitcoin through ZK rollups, came out of stealth on Tuesday. The project aims to become a pathway for several initiatives to take advantage of the decentralization and security of Bitcoin while at the same time contributing to scaling and giving developers the ability to adapt Ethereum Virtual Machine […]

Coinbase, a leading U.S. cryptocurrency exchange, claims that Americans could have saved at least $74 million in 2022 by leveraging crypto tech instead of using credit cards as payment options. In its latest State of Crypto report, Coinbase reveals how traditional finance system institutions keep transaction fees high in a system “mired in delays.” Coinbase […]

Starkware, in a collaboration with Herodotus Dev, is poised to launch the ‘Cairo Verifier,’ a system designed to verify cryptographic proofs on Starknet’s Layer two. This innovation aims to circumvent the Ethereum mainnet, offering a solution to the comparatively costly and slow verification process. Starkware Unveils ‘Cairo Verifier’ to Boost Layer Three Blockchain Scalability Starkware, […]

Polygon Labs has rolled out its latest innovation, the “Type-1 prover.” This upgrade could introduce a new era for Ethereum Virtual Machine compatible chains, enabling the generation of zero-knowledge proofs while ensuring transaction costs plummet. Polygon Unveils ‘Type-1’ Prover to Enhance Ethereum’s Ecosystem Polygon Labs has launched the Type-1 zkevm prover upgrade. Developed in collaboration […]

Tecpetrol, an Argentina-based oil and gas company, has reported the benefits of including crypto mining operations in its oil explorative activities. According to Tecpetrol CEO Ricardo Markous, including on-site vented gas generators to mine cryptocurrency has allowed oil production to rise fivefold in Los Toldos II, an exploration project located in the Vaca Muerta oilfield. […]

The bitcoin mining corporation Iris Energy, listed on the Nasdaq, has declared its entry into a cloud services partnership with the artificial intelligence (AI) startup Poolside AI. The collaboration with Poolside comes after Iris acquired 248 Nvidia H100 graphics processing units (GPUs) for $10 million in August 2023. Iris Energy Partners With Poolside AI On […]

Bitcoin’s computational power soared to unprecedented heights this week, climbing to 609 exahash per second (EH/s) on Thursday, as per the seven-day simple moving average (SMA). Over the last year, figures reveal a staggering increase in Bitcoin’s hashrate, surging by 332 quintillion hashes per second. Bitcoin’s Computational Power Skyrockets On Feb. 8, 2024, the hashrate […]

Nasdaq-listed Microstrategy has increased its cryptocurrency holdings to 190,000 bitcoins, having acquired 31,755 additional coins since the end of the third quarter. The company now considers itself “the world’s first Bitcoin development company,” with a unique value proposition, even when compared to spot bitcoin exchange-traded funds (ETFs). “We are a publicly-traded operating company committed to the continued development of the Bitcoin network through our activities in the financial markets, advocacy, and technology innovation,” Microstrategy detailed. Microstrategy Now Holds 190,000 Bitcoins Microstrategy Inc. (Nasdaq: MSTR) released its earnings report for Q4 2023 on Tuesday. The company revealed that it bought 31,755 more BTC since the end of the third quarter, including 850 BTC acquired in January. Microstrategy executive chairman Michael Saylor announced on social media platform X Tuesday: In January, Microstrategy acquired an additional 850 BTC for $37.2 million and ...

The United States Securities and Exchange Commission (SEC) has delayed its ruling on the Invesco Galaxy ether exchange-traded fund (ETF), and has now been pushed to potentially July 2024 after opening the proposal to public comments. Invesco and Galaxy Spot Ethereum ETF Decision Delayed by SEC The SEC has once again postponed its verdict on a proposed spot ether ETF. The delay affects the application by investment giants Invesco and Galaxy Digital, which had sought to launch the Invesco Galaxy Ethereum ETF on the Cboe BZX Exchange. In a notice dated Feb. 6, the SEC announced its intention to open the proposal to public commentary, extending the decision-making period by an additional 35 days from its publication in the Federal Register. The SEC can push the final decision up to 240 days from the filing date in October 2023, which means the final potential deadline is July 2024 for the SEC’s ruling. The application by Invesco and Galaxy Digital comes amid a wave of interest in cry...

After the leading privacy crypto token monero experienced a substantial 32% price decline on Tuesday, the coin’s value swiftly saw recovery the next day, surging by 25% within the last 24 hours. Binance, Kraken, and Kucoin are witnessing significant activity in monero’s daily trading volume, amounting to $256.91 million over the past 24 hours. Monero’s Quick Bounce Back Monero (XMR) experienced a sharp decline on Feb. 6, 2024, plunging to levels not witnessed since June 2022. The top privacy coin saw a significant 32% decrease, reaching a low of $100.40 per unit on Binance during Tuesday’s trading sessions. This downturn followed Binance’s announcement of XMR ’s delisting scheduled for Feb. 20. Privacy coins have increasingly become targets, with Okx’s decision to remove XMR in December, along with seven other assets, preceding Binance’s move. Delisting poses challenges for crypto projects and their supporters, as it complicates the acquisition of the digital currency. Nonethele...