Bitcoin’s correlation with traditional financial markets has been a topic of significant interest and debate in recent months. The latest data suggests that Bitcoin is exhibiting behavior more closely aligned with tech stocks than gold, challenging its narrative as “digital gold” in the short term. Julio Moreno from CryptoQuant shared data showing that Bitcoin currently …
Continue reading “Bitcoin’s correlation with Nasdaq rises to 0.39, diverges from gold at -0.40”
Indonesian crypto exchange Indodax has reportedly suffered a $20.5 million exploit, according to blockchain security firm Cyvers. The losses were spread across multiple chains, including a $1.4 million loss in Bitcoin and a $5 million theft on the TRON and Polygon networks. Other impacted blockchains were Optimism and Ethereum, which had over $14 million in …
Continue reading “Indodax hit by $20.5M exploit, North Korea link suspected”
The US national debt has reached a staggering $35.347 trillion as of Sept. 9, 2024, marking a significant increase of $1.357 trillion since the beginning of the year. This surge in debt, when viewed through the lens of Bitcoin, presents an intriguing perspective on the evolving relationship between traditional fiat currency and digital assets. According …
The latest consumer price index (CPI) from the U.S. Bureau of Labor Statistics shows that inflation cooled to 2.5% in August, marking the slowest rate since 2021. Meanwhile, core CPI, which strips out the fluctuating food and energy sectors, posted a 0.3% increase for the month. Stocks, Bitcoin, and Gold Unmoved by CPI Data On …
Continue reading “Calm Markets: Stocks, Crypto, and Gold Show Little Movement Post CPI”
The spot bitcoin exchange-traded funds (ETFs) posted gains on Tuesday, marking their second consecutive day of inflows. Spot ether ETFs also performed well, amassing $11.44 million during the trading session. Spot Bitcoin and Ether ETFs See Gains as Market Inflows Persist Data from sosovalue.xyz showed that the 12 spot bitcoin ETFs had inflows totaling $116.96 …
Continue reading “Spot Bitcoin ETFs See Second Day of Inflows, Adding Nearly $117M”
The Washington State financial regulator has issued a warning about potential cryptocurrency fraud involving a mining platform and wallet. A Washington investor was scammed out of over $750,000 after investing. Despite the investment supposedly growing to $1.4 million, the investor faced continuous demands for taxes and fees. Washington Investor Scammed Over $750,000 in Crypto Mining …
Continue reading “State Regulator Warns of Crypto Fraud After Investor Loses $750K”
Ripple has renewed its partnership with NYU Abu Dhabi to support blockchain research and innovation. This partnership aims to foster talent development, advance digital asset adoption, and integrate blockchain technology into startups and established institutions in the UAE. Ripple has funded numerous scholarships and research projects through its UBRI program, demonstrating its commitment to driving …
Continue reading “Ripple Renews NYU Abu Dhabi Partnership for Blockchain Research”
United Arab Emirates (UAE) regulators, SCA and VARA, have signed a cooperation agreement to strengthen the country’s position as a virtual assets hub. The agreement outlines licensing requirements for VASPs, establishes mutual supervision mechanisms, and aims to foster a stable and regulated virtual assets sector in the UAE. Both regulators will work together to ensure …
Continue reading “Regulators Partner to Bolster UAE’s Crypto Hub Status”
The crypto industry is still in its early stages of growth, despite a significant increase in adoption rates. Experts believe that the sector’s future depends on factors like regulatory developments and market stability. Singapore has emerged as a leading crypto hub due to its favorable regulatory environment and government support, partly driven by China’s crackdown …
Continue reading “Experts: Crypto In Early Stages of Growth Despite Rising Adoption”
Singapore’s Deputy Prime Minister Gan Kim Yong addressed concerns in Parliament regarding the risks of Worldcoin’s operations in Singapore, including potential money laundering through the sale of accounts. He emphasized that although Worldcoin does not perform a payment service under current laws, buying or selling accounts may constitute a violation. Investigations are ongoing, and the …
Continue reading “Singapore’s Parliament Addresses Worldcoin Account Misuse and Privacy Risks”
China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been conducted in 17 different areas, accumulating a total transaction value of …
Continue reading “China’s Digital Yuan Nears $1 Trillion in Transactions, PBOC Official Reveals”
Standard Chartered has launched a digital asset custody service in the United Arab Emirates (UAE), licensed by the Dubai Financial Services Authority. The service aims to provide secure storage for digital assets, initially focusing on bitcoin and ethereum. Brevan Howard Digital is the first client, and the bank plans further expansion into additional digital assets. …
Continue reading “Standard Chartered Launches Bitcoin and Ethereum Custody in UAE”
The North Carolina General Assembly has overridden Governor Roy Cooper’s veto to enact a bill prohibiting a central bank digital currency (CBDC) in the state. The Senate voted 27-17, securing the required supermajority. The bill bars payments using CBDC and state participation in Federal Reserve testing. This bill reflects strong opposition to CBDCs and emphasizes …
Continue reading “North Carolina Rejects Federal Digital Currency, Overrides Governor’s Veto”
The UK’s Financial Conduct Authority (FCA) has charged Olumide Osunkoya for operating unregistered crypto ATMs in the country. This case is significant as it represents the first prosecution under UK law for such activities. Osunkoya is accused of running a network of crypto ATMs that processed £2.6 million in transactions without registration, violating anti-money laundering …
Continue reading “FCA Files First Charges Against Unregistered Crypto ATM Operator in UK”
Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been …
Continue reading “Bitcoin Surges Above $57,000, But Investors Still Shorting: Fuel For More Rise?”
