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💰 Bitcoin Miner Hut 8 Shares Slide as CEO Departs Weeks After Short-Seller Report
The shares of bitcoin miner Hut 8 (HUT) fell as much as 8% on Wednesday, after CEO Jamie Leverton left the company just weeks after the firm was hit by a short-seller report. The miner said Leverton, who served as CEO for three years, will be succeeded by the company's president, Asher Genoot, effective immediately. Genoot co-founded U.S. Bitcoin Corp. (USBTC) and became president and director of Hut 8 in November after a merger with USBTC.
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🟠 Binance offers $5M snitch bounty after RON token listing sparks ‘heated’ debate
Crypto exchange Binance has launched a $5 million bounty for information on potentially corrupt staff members after a spate of accusations alleged its crypto token listing could be front-run due to leaks. In a series of Feb. 5 X posts, Binance co-founder Yi He said “heated discussions” had taken place in the community after a recent plunge in the price of Ronin (RON) after it listed on Binance.
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🇰🇷 Montenegro deports former Terraform Labs CFO to South Korea amid fraud allegations
According to reports, law enforcement agencies referred to him as J.C.H. He was “handed over to the competent judicial and police authorities in South Korea today in order to conduct criminal proceedings for more criminal offenses related to financial investment fraud services.”. Daniel Shin, Terraform Labs co-founder, is facing a similar trial in Seoul for fraud, illegal fundraising, and violation of capital market laws.
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🇦🇷 Argentine Government Removes Tax on Bitcoin
The recently inaugurated government of Argentina, under the leadership of President Javier Milei, who is recognized for his strong liberal stance and support for Bitcoin, has introduced a comprehensive bill to the legislative body translated as “Law of Foundations and Initial Measures for Argentinian Liberty”.
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💰 FTX Plans to Sell $175M Claim Against Genesis to Repay Customers
FTX has filed a motion in a Delaware court, seeking approval to sell its $175 million claim against Genesis Global Capital, a financially troubled digital services firm. This move is part of FTX’s plan to compensate customers affected by its 2022 collapse. Acquired through a settlement last year, FTX intends to either auction or privately transact these claims, a crucial step in its overall strategy to liquidate assets and address financial challenges.
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💰 Bankrupt FTX wants to sell $175 million claim against Genesis to aid creditor repayment
FTX bankruptcy estate intends to sell its $175 million general unsecured claim against the collapsed crypto lender Genesis, according to a Feb. 2 court filing. FTX proposed to divest these claims through public auctions or private transactions, either in entirety or in parts, with single or multiple purchasers. The generated funds would be used to facilitate debt repayment and also restructure its financial obligations to creditors.
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💰 Bitcoin challenges ‘Magnificent Seven’ tech giants with 84% annual gain amid ETF buzz
The nascent Bitcoin ETF market has been on a remarkable journey in its initial two weeks, sparking an industry-wide discourse on potential capital migration from other assets into these ETFs. As Bitcoin matures as an asset, such long-term shifts may become more prominent, especially considering the stellar performance of tech stocks over the past year.
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🪙 Ethereum's 'Dencun' Upgrade Goes Live on Second Testnet, With Just One Remaining
The Ethereum blockchain's biggest upgrade since early 2023 went live on the second of three test networks, bringing the much-anticipated "Dencun" project and its "proto-danksharding" feature a step closer to reality. The number of layer-2 chains atop Ethereum is expanding fast, so the upgrade is seen as an essential element of the ecosystem's roadmap for supporting the growth.
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🇭🇰 Memecoin Floki blocks Hong Kong users from staking programs amid regulatory warnings
The Floki Inu cryptocurrency team has ceased Floki and TokenFi staking programs in Hong Kong after the local regulator listed them as “suspicious investment products,” according to its statement. Floki’s comment comes in response to the Securities and Futures Commission’s warning released on Friday. The SFC warned the public of Floki Staking Program and TokenFi Staking Program — both of which claim to offer annual returns of 30% to over 100%, according to the notice.
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💰 Bitcoin Technical Analysis: Bearish Signals and Bullish Hints Amidst Market Turbulence
Bitcoin, the leading digital currency by market cap, showcased nuanced market dynamics on Jan. 29, 2024. Bitcoin’s value fluctuated within a narrow band, ranging from approximately $41,950 to $42,069 within the last hour. Indicators such as oscillators and moving averages reveal a diverse perspective, indicating a multifaceted interaction of market factors. As the price fell beneath the $42,000 threshold, it appears that bearish forces have momentarily gained the upper hand.
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💰 Sleeping Bitcoin Wallets Awake: Over $14 Million in BTC Moved From Long-Inactive Addresses
Based on the latest onchain data, on Jan. 27, 2024, a wallet established on Aug. 28, 2013, transferred 115.50 bitcoin valued at $4.84 million, marking its first activity in more than a decade. Furthermore, two dormant accounts from 2017 also executed transactions on Saturday, moving a total of 218.49 bitcoin, equivalent to $9.16 million.
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💰 Bitcoin breaks past $42k, hitting a five-day high
The price of Bitcoin surpassed $42,000 on Jan. 26 amidst significant spot Bitcoin ETF flows and an upgrade to Coinbase’s stock rating. Bitcoin (BTC) was valued at $42,040.36 with a market cap of $824.4 billion at 8:05 pm UTC on Friday. That marks 5.3% growth over 24 hours. Bitcoin’s current price also represents a five-day high, as prices were close to $40,000 on Jan. 24 and 25 and as low as $38,678 on Jan. 23
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💰 ARK Bought $62.3M Worth of Own ETF in Last Week; Sold $42.7M of BITO
ARK Invest continued to offload shares of ProShares Bitcoin Trust ETF (BITO) in the last week while accumulating its own spot bitcoin exchange-traded fund. Cathie Wood's investment firm sold a total of 2,226,191 shares of the bitcoin futures ETF since Jan. 19, worth around $42.8 million at Thursday's closing price of $19.22, from its Next Generation Internet ETF (ARKW). Meanwhile, it has bought 1,563,619 shares in the ARK 21 Shares Bitcoin ETF (ARKB), worth approximately $62.3 million.
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💰 Bitcoin’s realized price by ‘young supply’ underpins recent price support
Bitcoin's rollercoaster ride through January saw it dip and rise with the whispers of the first U.S. spot Bitcoin ETFs. Yet, amid the "buy the rumor, sell the news" frenzy, not all was lost. CryptoSlate's analysis reveals the surprising resilience of Bitcoin in the clutches of volatility, but it's the critical role of the 'realized price'.
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🪙 Ethereum's Dencun Upgrade Reaches Final ‘Holesky’ Testnet, Starting Countdown to Data 'Blobs'
The final dress rehearsal for Ethereum’s upcoming Dencun upgrade occurred Wednesday, as the blockchain's biggest changes in almost a year took place on the Holesky test network. The test simulated “proto-danksharding,” a technical feature aimed at reducing the cost of transactions for rollups as well as making data availability cheaper, through the introduction of “blobs,” a new compartmentalized space for storing data.
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🇺🇸 SEC adopts rule to have stricter oversight over dealers, looping in crypto and DeFi
The Securities and Exchange Commission voted to adopt rules that require market participants who have significant liquidity-providing roles to comply with federal securities laws, looping in cryptocurrency to the mix. The SEC voted 3-2 to adopt that rulemaking in a meeting on Tuesday, which in its proposed 194-page form included one mention of crypto in a footnote.
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📣 British Columbia Court Backs Ban on Crypto Mining in Canadian Province
British Columbia’s provincial power utility, B.C Hydro’s, moratorium on crypto mining projects was ruled as reasonable by a provincial supreme court judge, according to a ruling posted on Monday. The moratorium was being challenged by Conifex Timber, a forestry company that had branched out into crypto mining. Conifex was planning a mining operation with Tsay Keh Dene Nation, an indigenous tribe.
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🇨🇳 Beijing targets crypto mining in revamped energy conservation plan
Beijing released an updated implementation plan for strengthening energy conservation, explicitly stating measures that will crack down on cryptocurrency mining activities. The Beijing Municipal Development and Reform Commission, along with 11 other departments, issued a detailed notice underscoring their commitment to a dual control system of energy consumption and carbon emissions.
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💰 GBTC Outflows Fall by 70% as $BTC Reclaims $43K
In the first two weeks after the Grayscale Bitcoin Trust (GBTC) was approved, there was a massive sell-off, causing Bitcoin to plunge. However, the outflows from GBTC have dropped by 70%, followed by a BTC price recovery. The price of Bitcoin has now recovered above the $43,000 level. The approval of spot Bitcoin ETFs in January was a watershed moment for the cryptocurrency market.
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🏦 Coinbase analysts see downside pressures on bitcoin's price becoming 'exhausted'
Downside pressures on bitcoin and the broader cryptocurrency market are starting to become exhausted, which could lead to a more supportive trading environment, according to Coinbase analysts. Coinbase's Weekly Market report, released on Friday, described how certain technical factors that had been exerting downside pressure on bitcoin specifically and the broader crypto market are beginning to wane.
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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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💰 BlackRock wants to project Bitcoin ETF ads onto former banks, filing says
BlackRock proposed a campaign to project spot Bitcoin ETF advertisements onto the sides of buildings in a Jan. 31 SEC filing. Each image otherwise shows a timeline of events leading up to the launch of BlackRock’s spot Bitcoin ETF this January. Certain images describe the launch of the first stock market in the U.S. in 1790, the first U.S. ETF in 1993, the launch of Bitcoin in 2009, and the first Bitcoin futures contract in 2017.
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💰 Terraform Labs says bankruptcy helps afford appeal against SEC’s fraud lawsuit
Terraform Labs’ Chapter 11 bankruptcy protection would allow the company to pursue an appeal against the U.S. Securities and Exchange Commission’s securities fraud lawsuit, the company said in a Tuesday filing. The company filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on Jan. 21, with estimated assets and liabilities between $100 million and $500 million.
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🇪🇺 EU agency says crypto firms can sometimes serve non-European users
EU-based crypto firms can serve non-EU customers in some cases, the European Securities and Markets Authority (ESMA) said on Jan. 29. It emphasized that companies cannot use the exemption to bypass Markets in Crypto Assets Regulation (MiCA) rules. MiCA came into force in June 2023 and set out many new rules for cryptocurrency industry members in the EU.
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NEW: 🏛 Charles Schwab, with $8.5 trillion AUM, could soon launch a spot 💰 Bitcoin ETF, capitalizing on second-mover advantages
Analysts suggest a "big and disruptive" move, such as "rolling out shock-and-awe low fees"❗️
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💰 Criminal charges against ex-Celsius CEO must stick, prosecutors say
U.S. prosecutors have pushed back against former Celsius CEO Alex Mashinsky’s motion to dismiss two criminal charges brought against him. Prosecutors argued that the charges, which include commodities fraud and market manipulation, show Mashinsky’s intention to mislead investors about his crypto platform’s profitability and business practices and manipulate the market for Celsius’ proprietary CEL token.
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🪙 Ethereum Foundation Reveals Finalized Dencun Upgrade Timeline
In a recent announcement by the Ethereum Foundation, the Ethereum blockchain network is set for a major enhancement through the introduction of Dencun. The foundation elaborated that Dencun is scheduled to launch on the Sepolia network at epoch 132,608 on Jan. 30, 2024, and will subsequently activate on the Holesky network at epoch 29,696 on Feb. 7, 2024.
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🇺🇸 Gensler says SEC's move to approve spot bitcoin ETFs was limited, despite excitement about possible Ethereum ETFs
Securities and Exchange Commission Chair Gary Gensler said Wednesday that the agency's move to approve several spot bitcoin exchange-traded products earlier this month was limited to just the single cryptocurrency, despite some anticipation by some that spot Ethereum ETFs could be next to gain approval. The agency approved 11 spot bitcoin ETFs on Jan. 10 following a decision in a D.C. court by three judges that said the SEC had to re-review a bid for Grayscale's spot bitcoin ETF application.
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