The price of Bitcoin is testing $100,000 after Fed Chair Jerome Powell issued a statement on the central bank’s ability to hold BTC. Powell took questions from reporters after announcing the Fed has lowered its key interest rate by a quarter percentage point in its third consecutive reduction. When asked if he sees any value …
Yearly archives: 2024
Bitcoin Whale Wakes Up After Three Years To Move $530,000,000 in BTC to New Wallets, Pays $46 in Fees: Arkham
A Bitcoin (BTC) whale that last transacted about 44 months ago has awakened and moved over half a billion dollars worth of the flagship crypto asset, according to on-chain data. Blockchain analytics platform Arkham Intelligence says that the Bitcoin whale, which last transacted in April 2021, has moved the large BTC stash to two new …
Stablecoins Should Become Mass Export Product of the US, Says Circle CEO Jeremy Allaire
The chief executive of stablecoin issuer Circle says that dollar-pegged digital assets should become a mass export product of the United States. In a new interview on CNBC Television, Circle CEO Jeremy Allaire says that the US should promote “full reserve digital dollars” as a means of preserving the value of the US dollar. Allaire …
Sophon Mainnet Goes Live With $500 Million Total Value Locked and Strategic Industry Collaborations
December 18, 2024 – Dubai, India Sophon has launched its mainnet, introducing the first-ever Validium on ZKsync powered by Avail DA. With over $500 million in TVL (total value locked) through the Sophon farming program, and a growing ecosystem of established partners, Sophon is paving the way for scalable, consumer-focused blockchain applications. The launch comes …
Synthetix launches multi-collateral perps on Base amid revamp
The DeFi protocol also launched an in-house perpetuals trading app.
Bybit Introduces Private Wealth Management Service for High-Net-Worth Clients
December 18, 2024 – Dubai, United Arab Emirates Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce the launch of its PWM (private wealth management) service, tailored to meet the unique needs of HNWIs (high-net-worth individuals) and institutional clients. This customized offering reflects Bybit’s commitment to delivering premium financial solutions that …
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Nigeria Arrests Nearly 800 Over ‘Pig Butchering’ Crypto Scam Targeting North Americans and Europeans
Nigerian authorities arrested nearly 800 individuals who allegedly operated crypto “pig butchering” scams targeting North American and European victims. In a pig butchering scam, bad actors form a relationship with victims online to gain their trust and convince them to invest in fake opportunities and/or cryptocurrency platforms that the scammers control. Once the victim has …
Solana surpasses rivals with record-breaking 66.9 million daily transactions
Solana (SOL) has solidified its position as a leading blockchain, setting a new milestone with unmatched network activity over the past day. According to Artemis data, the network processed an impressive 66.9 million transactions on Dec. 17. This achievement illustrates its growing popularity and efficiency. Solana Daily Transactions (Source: Artemis) This surge positioned Solana far …
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Hong Kong approves 4 new crypto trading platform licenses in regulatory push
Hong Kong’s Securities and Futures Commission (SFC) has issued licenses to four virtual asset trading platforms (VATPs), marking another step in its fast-tracked regulatory framework, according to a Dec. 18 statement. The licensed platforms include Accumulus GBA Technology Ltd, DFX Labs Company Ltd, Hong Kong Digital Asset EX Limited, and Thousand Whales Technology (BVI) Ltd. …
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Bitcoin retreats back to $104k as markets eye Fed decision and latest EU, UK inflation data
Bitcoin’s price has seen notable volatility ahead of the Federal Reserve’s interest rate decision later today, retracing from a recent high of $108,000 to hover around $104,000. The move comes amid a backdrop of mixed global economic signals, as fresh data highlights continued inflationary pressures in major markets. European and UK inflation prints arrived higher …
ASIC sues Binance Australia over investor misclassification and protections
The Australian Securities and Investment Commission (ASIC) has filed a lawsuit against Oztures Trading Ltd—the operator of Binance Australia Derivatives—over inadequate customer protection practices. According to a Dec. 18 statement, the regulator claims that over 500 retail investors were misclassified as wholesale clients, denying them crucial consumer safeguards. ASIC’s allegations ASIC alleged that between July …
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Ohio becomes latest state to propose Bitcoin treasury to protect funds from US dollar devaluation
Ohio lawmaker Derek Merrin introduced a groundbreaking bill to establish a Strategic Bitcoin Reserve within the state treasury, according to a Dec. 17 statement. The proposed legislation, known as the Ohio Bitcoin Reserve Act, seeks to empower the state treasurer with the authority to invest in Bitcoin, aligning with the growing trend of adopting it …
Bitcoin to hit $1 million by 2027 using new adoption pricing model
A new supply-and-demand equilibrium model suggests Bitcoin may surpass $1 million by January 2027, following current trends in adoption, liquidity, and Bitcoin reserves. A recent paper by Dr. Murray A. Rudd and Dennis Porter of Satoshi Action Education integrates Bitcoin’s fixed, inelastic supply schedule and dynamic demand factors, including institutional adoption and long-term holding behavior, …
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Polygon accuses Aave of monopolistic practices amid DeFi dispute
Polygon, one of the largest Ethereum layer-2 networks, has accused the DeFi lending platform Aave of adopting monopolistic practices. This dispute arises from a proposal to allocate locked bridge funds to yield-generating strategies, which Aave opposes. Tension escalated after the lending protocol threatened to withdraw its deployment from Polygon’s network. The controversial proposal has been …
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From Chinese Car Firm to Crypto: Cango Quietly Becomes a Bitcoin Mining Giant
According to a report from Blockspace Media, there’s a new entity on the block that has quietly climbed to become the third-largest publicly listed mining firm in terms of hashrate. Stealth Hashrate: Cango’s Surprising Crypto Pivot There’s a publicly listed Chinese car company called Cango that has shifted gears from automotive financing and car trading …
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