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💰 Grayscale's GBTC Bitcoin Holdings: A $6 Billion Exodus in 22 Days
According to data, Grayscale’s Bitcoin Trust, GBTC, recently released another batch of bitcoin valued at $184.19 million. GBTC’s holdings decreased from 482,592.18 bitcoin to the current 478,337.43 bitcoin in just one day, marking a reduction of 4,254.75 coins. Since Jan. 12, 2024, GBTC has offloaded a total of 138,742.56 bitcoin, valued at slightly over $6 billion based on prevailing exchange rates.
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💰 Solana registers all-time high in monthly new addresses for January
There was significant increase in the number of new addresses on the Solana blockchain during the month of January, according to The Block’s data dashboard. The monthly count of new addresses on Solana increased to 11.81 million for January. This gain represents an 18% rise in new addresses on the network from December’s count of about 10 million — which was a multi-month high at the time.
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💰 Bitcoin’s steady stand: 146 days of trading between $40k and $45k
Bitcoin’s price rally from October 2023, which saw it soar from $25,000 to $49,000 in January 2024, witnessed the digital asset hitting the $40,000 mark for the first time since April 2022 on Dec. 4. From then on, it steadily consolidated above $40,000 for 49 consecutive days. However, it lost the $40,000 support level on Jan. 22. Bitcoin’s trading price currently hovers around $42,000.
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💰 Bitcoin heads for fifth consecutive monthly green candle amid rollercoaster market conditions
This month was a rollercoaster ride for the digital asset, with peaks touching $49,000 and troughs sinking to roughly $38,500. The volatility was stoked by the eagerly anticipated launch of the spot Bitcoin ETFs, which initially spurred a sell-off but eventually bolstered recovery. The period from September to December 2023 also recorded green monthly closes for Bitcoin, which saw Bitcoin shoot up from $25,000 to $45,000 in anticipation of the ETF.
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🔵 Circle will launch USDC on the Celo network
Circle, issuer of the stablecoins including USDC and EURC, will launch its USD-pegged stablecoin on Celo , the Layer 1 that's transitioning into an Ethereum Layer 2 scaling network. In addition to natively launching the token, an imminent governance vote will determine if USDC will act as Celo's official gas currency.
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📣 Crypto investors lost nearly $2b over 600+ incidents in 2023, data shows
In an X post on Jan. 29, PeckShield released an infographic highlighting the extensive scale of hacker attacks targeting the crypto sector in 2023. According to their data, crypto investors faced losses amounting to $2.6 billion due to illicit activities, with a recovery of nearly $675 million. PeckShield’s findings reveal that investors suffered losses of over $1.5 billion from hacks and an additional $1.1 billion from scam schemes, reflecting a 27.78% decrease compared to 2022.
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📣 Crypto Hacking Losses Halved in 2023
Funds stolen by hackers from cryptocurrency platforms fell by over 50% in 2023 compared to the previous year. However, the number of individual hacking incidents rose, indicating that hacking remains a significant threat for crypto investors. In 2022, hackers stole a record $3.7 billion from crypto platforms. But, according to a new report from the blockchain analytics firm Chainalysis, in 2023, that figure dropped to around $1.7 billion, representing a decrease of 54%.
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💰 Deutsche Bank Survey: Over One-Third of Respondents Expect Bitcoin to Fall Below $20,000
A Deutsche Bank survey has revealed that over one-third of 2,000 respondents anticipate bitcoin’s price to drop below $20,000. Moreover, around 15% of those surveyed predict the cryptocurrency’s price to range between $40,000 and $75,000 by the end of the year.
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🥇 BlackRock’s Bitcoin ETF First to Reach $2B in AUM
The BlackRock iShares Bitcoin ETF (IBIT) on Friday became the first of the recently launched spot bitcoin products to reach $2 billion in assets under management (AUM). This doesn't include Grayscale's GBTC, which had nearly $30 billion in AUM at the time of its conversion from a closed-end fund to a spot ETF.
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💰 Celsius billion-dollar Ethereum shift stirs speculation on creditor payback plans
Bankrupt crypto lending platform Celsius has shifted 459,561 Ethereum (ETH), valued at over $1 billion, to centralized exchanges, including Coinbase, Paxos, and FalconX, in the past 24 hours, per on-chain data. In detail, more than 300,000 ETH, equivalent to $673 million, was sent to Coinbase Prime. The firm also moved 146,507 ETH, valued at around $323.3 million, to Paxos, and another 7,800 ETH, worth $17.2 million, were transferred to FalconX.
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💰 Former Bitmex Chief Expects Bitcoin to Bottom Out Between $30,000 and $35,000
Former Bitmex CEO Arthur Hayes has predicted that bitcoin will find a support level between $30,000 and $35,000. He contends that the ongoing bitcoin selloff is not due to outflows from Grayscale’s bitcoin trust (GBTC). “That argument is bogus,” he claimed, adding that bitcoin’s price movement is “anticipating the Bank Term Funding Program (BTFP) will not be renewed.”
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💰 Bitwise first to publish on-chain addresses for Bitcoin ETF holdings
The Bitwise Bitcoin ETF (BITB) has published the on-chain addresses of its holdings – the first issuer to do so among the 11 approved funds. This major decision enables public verification of BITB’s holdings and flows directly on the blockchain.
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💰 Mt. Gox confirms creditors’ addresses for BTC repayments
On December 22, the crypto community of the /mtgoxsolvency subreddit revealed that the fallen Tokyo-based Bitcoin (BTC) exchange, Mt. Gox, has been sending emails to its creditors confirming that the repayment details they provided have been verified with relevant cryptocurrency exchanges. Mt. Gox has been sending emails in a staggered fashion, based on the platforms the creditors have their accounts with.
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🪙 Potential Approval of Spot ETF Is Ethereum’s 'Strongest Narrative Right Now'
The approval of a spot ethereum exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) could be the crypto asset’s “strongest narrative,” according to a Kaiko Research analysis. The Kaiko Research team believes that ethereum’s rally post-bitcoin ETF approvals show that investors are betting on the regulator’s approval of ether-based ETFs.
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🟠 Binance Data Including Code, Internal Passwords Leaked on GitHub: Report
According to 404 Media, the material, posted by an account called "Termf," included code, infrastructure diagrams, internal passwords, and other technical information. Some code available on the site is reportedly related to Binance's implementation of security measures, including passwords and multi-factor authentication (MFA).
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🟠 Hamas victims file class action against Binance over allegedly facilitating terrorism financing
Families of Hamas victims have filed a lawsuit against the cryptocurrency exchange Binance in a federal court in Manhattan, alleging that the platform indirectly facilitated financial transactions for Hamas, Bloomberg News reported Feb. 1. The plaintiffs are seeking compensatory and punitive damages in an effort to hold the exchange accountable.
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💰 Google allows spot Bitcoin ETF ads; BlackRock, VanEck among sponsored links
Google has begun to permit advertisements featuring U.S. spot cryptocurrency exchange-traded funds (ETFs) as of Jan. 29. Third-party reports indicate that some asset managers have already begun to advertise their ETFs with Google. One X post from WatcherGuru shows that BlackRock and VanEck spot Bitcoin ETFs now appear as sponsored links in Google search results.
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💰 BlackRock and Fidelity spot bitcoin ETFs close in on Grayscale in daily trading volume
After several days in a row of dominance, it appeared for a time on Tuesday that BlackRock and Fidelity spot bitcoin ETFs might surpass Grayscale's fund in terms of daily volume for the first time since the products began trading more than two weeks ago. Grayscale's fund, a conversion rather than a brand new product, has shed billions of dollars after starting with more than $25 billion in assets under management.
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💰 9 Newly Launched Spot Bitcoin ETFs Accumulate BTC Holdings Worth Nearly $6 Billion
Current data reveals that Blackrock’s IBIT spot bitcoin exchange-traded fund (ETF) currently possesses 52,025.76 bitcoin, with a total value of $2.18 billion. Furthermore, Fidelity’s FBTC has increased its bitcoin holdings, now standing at 46,238.09 bitcoin as of Jan. 29, 2024.
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💰 Vanguard Says No to Bitcoin ETFs — Views Crypto as 'Immature Asset Class' With 'No Inherent Economic Value'
Financial giant Vanguard has explained why the firm does not make spot bitcoin exchange-traded funds (ETFs) available on its trading platform. A Vanguard executive stressed that cryptocurrency is “an immature asset class that has little history, no inherent economic value, no cash flow, and can create havoc within a portfolio.”.
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💰 $867 Million Erased — Grayscale's GBTC Experiences Record 20,803 Bitcoin Reduction in 24 Hours
Recent data from Grayscale’s GBTC spot bitcoin exchange-traded fund reveals a significant reduction in its holdings, with 20,803.83 bitcoin, valued at $867.98 million, being withdrawn from the fund’s reserves. This substantial outflow, occurring over the past 24 hours, marks the most considerable decrease in GBTC’s reserves since it transformed into a publicly-listed ETF on Jan. 11, 2024.
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💰 Bitcoin hovers just under $40,000 as market tracks Grayscale outflows
Bitcoin price eclipsed $40,000 at different points on Wednesday but largely hovered just below that mark, as market watchers continued to observe the selling off of Grayscale's spot bitcoin ETF. The price of the world's largest cryptocurrency by market capitalization was $39,672 at 4:37 p.m. ET, according to The Block's Price Page. While it's up 1.3% over the past 24 hours, bitcoin's price has declined nearly 14% over the past two weeks.
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⚪️ Crypto Lender Nexo Seeking $3B in Damages From Bulgaria
Cryptocurrency lender Nexo has filed an arbitration claim against the Republic of Bulgaria, seeking $3 billion in damages. Nexo has accused the country of making “wrongful and politically motivated actions...involving unjustified and oppressive criminal investigations,” according to an emailed statement on Wednesday.
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💰 Peter Schiff Says All Spot Bitcoin ETFs Are Now in Bear Markets — Warns of Deeper Losses 📉
Gold bug and economist Peter Schiff has warned of deeper losses for spot bitcoin exchange-traded funds (ETFs), emphasizing that they are “now in bear markets.” Referencing the Proshares Bitcoin Strategy ETF which is down more than 50% in over two years, Schiff predicted that those who bought the newly approved spot bitcoin ETFs “will experience even worse results.”
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📣 Alameda Research voluntarily drops lawsuit filed against Grayscale Investments
Alameda Research Ltd., the hedge fund associated with bankrupt FTX, has voluntarily dismissed a lawsuit it had brought against Grayscale Investments. The firm had been seeking injunctive relief to "allow redemptions and reduce fees in Grayscale trusts" and unlock $9 billion or more in value for shareholders. John J. Ray lll, CEO of FTX, previously said the goal was to unlock value being "suppressed by Grayscale's self-dealing and improper regulation ban."
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🦊 MetaMask introduces Ethereum validator staking feature, powered by Consensys
MetaMask, the popular crypto wallet application, has partnered with Consensys Staking to run Ethereum validator nodes on behalf of users willing to stake at least 32 eth, a current value of about $80,000. Following its transition from a proof-of-work network to a proof-of-stake network in the September 2022 known as ‘The Merge,’ Ethereum’s network is now secured by such validators. Many
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