Bitcoin News and Finance: What You Need to Know

The U.S. Energy Information Administration (EIA), a statistics agency of the U.S. Energy Department, has sent letters to cryptocurrency miners requiring data related to energy consumption and configuration of their mining sites. According to one of the letters posted on social media, miners have until February 23 to report the info regarding the activities carried […]

Citi, in alliance with Wellington Management, Wisdomtree, and ABN AMRO, completed a proof of concept for the tokenization of a private fund on top of the Avalanche blockchain. The test used Spruce, an Avalanche subnet, to tokenize the fund and transact the tokenized assets, which were programmed to “automate operations, settle faster, and enable new […]

Tron is embarking on an ambitious journey to transform the Bitcoin ecosystem, as announced by its founder, Justin Sun. Through the integration of Bitcoin Layer two solutions, Tron seeks to decentralize and interconnect a variety of token types, including major stablecoins, with the Bitcoin network. Justin Sun’s Outlines Vision to Merge Tron and Bitcoin Networks […]

On Friday, Feb. 16, 2024, bitcoin’s value hovered between $51,850 to $52,350, with onchain insights from Arkham Intelligence revealing that the Nasdaq-listed crypto exchange giant, Coinbase, now possesses over 1 million bitcoin. Based on the current market prices, the stash secured by the San Francisco-headquartered firm is valued at just above $52 billion. Coinbase Outshines […]

Mexican billionaire Ricardo Salinas has outlined four key reasons why investors should buy bitcoin, including long-term growth potential, diversification, and protection against inflation and currency devaluation. Moreover, he advised: “You have to know how to invest and be patient, not get scared when it goes down and buy, and not get excited when it goes […]

U.S. Department of the Treasury’s Under Secretary Brian E. Nelson has confirmed that terrorists’ use of crypto remains a small fraction of more established mechanisms to move money. He also admitted that “digital assets were not even a popular tool for Hamas or the Palestinian Islamic Jihad” and “Hamas is using crypto in relatively small […]

Blackrock has amassed nearly 110,000 bitcoins for its spot bitcoin exchange-traded fund (ETF), Ishares Bitcoin Trust (IBIT), since its launch about a month ago. The world’s largest asset manager’s bitcoin ETF has a total net inflow of nearly $5 billion, leading the pack among all spot bitcoin ETFs. Blackrock CEO Larry Fink has stated that […]

The Financial Crimes Enforcement Network (FinCEN) has released an analysis that reports an alleged increase in the use of cryptocurrency in human trafficking cases. According to FinCEN, reports of cryptocurrency linked to these purposes grew from 336 in 2020 to 1,975 in 2021, an increase of almost 500%. FinCEN Alerts of Crypto Usage Linked to […]

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 […]