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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
Eighty-eight business leaders, including Ripple co-founder Chris Larsen, have endorsed Vice President Kamala Harris for president, in a new letter shared by CNBC on Friday. Some crypto investors are puzzled by Larsen’s move, given the Biden administration’s stringent regulatory stance on cryptocurrency and its ongoing lawsuit against Ripple. The U.S. Securities and Exchange Commission (SEC) […]
https://news.bitcoin.com/kamala-harris-gains-ripple-co-founder-chris-larsens-endorsement/
In recent weeks, both economists and technical indicators have hinted that the U.S. may be on the brink of a recession, causing anxiety to ripple through the markets. Meanwhile, over on X, the topic of recession is gaining more traction by the day, with users discussing the likelihood of an economic downturn. Social Media Buzzes […]
https://news.bitcoin.com/recession-concerns-ignite-amid-us-economic-slowdown-and-market-volatility/
As bitcoin dipped below $55K this week, something quite interesting happened behind the scenes. On Sept. 7, 2024, the network’s computational power hit a new lifetime high. The seven-day simple moving average (SMA) for Bitcoin’s total hashrate climbed to 679 exahash per second (EH/s) on Saturday, a slight bump of 2 EH/s over the previous […]
https://news.bitcoin.com/bitcoin-hashrate-hits-record-high-as-prices-drop-below-55k/
After a dip in August, the first week of September didn’t bring much sunshine to the world of non-fungible tokens (NFTs). Sales slid by 7.69% over the seven-day period. The total number of NFT transactions was just over 1 million, which is a notable 36.93% drop from the previous week. September NFT Sales Struggle With […]
https://news.bitcoin.com/nft-sales-slip-7-69-in-early-september-as-digital-collectible-market-adjusts/
A recent report from Glassnode, led by researchers Ukuriaoc and Cryptovizart, highlights growing stress among short-term bitcoin (BTC) holders. As market pressure mounts, these investors experience heightened unrealized losses, suggesting they may drive future sell-side activity. Glassnode: Unrealized Losses Climb for Short-Term Bitcoin Investors According to Glassnode’s onchain analysis, short-term bitcoin (BTC) holders are currently […]
https://news.bitcoin.com/report-highlights-short-term-bitcoin-holders-facing-heightened-unrealized-losses/
Luis Oscar Ramirez, founder and CEO of Mawari, believes the idea that artificial intelligence (AI) has contributed to the decline in metaverse interest and investment is misguided. Instead, Ramirez said he sees AI as a powerful catalyst for metaverse innovation, enhancing user experiences and making digital interactions more natural, intuitive, and engaging. Metaverse, NFT Decline […]
https://news.bitcoin.com/spatial-computing-expert-ai-didnt-contribute-to-metaverses-decline/
The largest Japanese banks—MUFG, SMBC, and Mizuho—plan to use a stablecoin-based system to facilitate cross-border payments in the future. The initiative, Project Pax, replaces correspondent banks with blockchain technology, linking it to SWIFT to allow users to initiate payments conventionally using regular banking rails. Japanese Banks Aim to Ditch Intermediaries for Blockchain-Based Stablecoin System Traditional […]
https://news.bitcoin.com/largest-japanese-banks-to-use-swift-linked-stablecoin-system-for-cross-border-payments/
Zambia’s latest move to restrict foreign currency use in domestic transactions is aimed at stabilizing its currency, the kwacha, according to central bank Governor Denny Kalyalya. The Bank of Zambia announced this initiative in June and is still consulting market participants, with no set implementation date. Kalyalya highlighted that foreign currency use hinders effective monetary […]
https://news.bitcoin.com/zambias-dedollarization-plan-aims-to-strengthen-kwacha-stability/
Pavel Durov, founder and CEO of Telegram, made his first public statement after his arrest in Paris. He was questioned by French authorities for four days over claims that he could be held responsible for illegal activities of Telegram users. Durov expressed surprise, citing that Telegram has an official representative for such matters. He pledged […]
https://news.bitcoin.com/pavel-durov-speaks-out-following-paris-arrest-over-telegrams-legal-issues/
On Sept. 6, Vaneck announced its decision to close and liquidate the Vaneck Ethereum Strategy exchange-traded fund (EFUT). The liquidation comes after evaluating key factors, including performance and investor interest. The firm noted that shareholders will have until September 16, 2024, to sell their shares before delisting. Vaneck to Wind Down Ethereum Futures ETF According […]
https://news.bitcoin.com/vaneck-reveals-plans-to-close-ethereum-futures-etf/
Ethereum has underperformed bitcoin by 44% since The Merge, according to research from Cryptoquant. Despite significant upgrades and the recent approval of ethereum spot exchange-traded funds (ETFs), the cryptocurrency continues to face challenges relative to bitcoin. Cryptoquant: Ethereum Underperforms Bitcoin by 44% Ethereum’s transition to a proof-of-stake (PoS) blockchain, known as The Merge, took place […]
https://news.bitcoin.com/ethereum-underperforms-bitcoin-2-years-after-the-merge-according-to-cryptoquant-data/
U.S. labor market woes mixed with a rising yield curve are fuelling economic jitters, causing stocks and Bitcoin to slide. The latest jobs report revealed a softer-than-expected outcome, contributing to growing concerns about a potential slowdown.
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Bitcoin’s price took a dip below the $54,000 mark on Friday, as the cryptocurrency continued its downward trend over the past week. The value slipped by 3.5% compared to the previous day, reaching a low of $53,810, a level not seen since early August. Bitcoin Reaches a 30-Day Low Over the past 24 hours, bitcoin […]
https://news.bitcoin.com/crypto-market-chaos-93m-liquidated-in-4-hours-as-bitcoin-crashes-below-54k/
Thursday’s trading session saw spot bitcoin exchange-traded funds (ETFs) experienced outflows totaling $211.15 million, while ethereum ETFs faced a much smaller decline of $152,720. $211 Million Exits Bitcoin ETFs, Ethereum Funds Slip by $152K On Sept. 5, bitcoin and ethereum ETFs both took hits, with bitcoin ETFs leading the way in outflows. According to data […]
https://news.bitcoin.com/bitcoin-etfs-lose-211-million-as-ethereum-funds-see-modest-outflows/
The South African government is tightening its grip on cryptocurrency trading. Tax authorities (SARS) are issuing tax notices and clarifying regulations, likely using AI to identify non-compliant traders. The central bank meanwhile has clarified rules for crypto purchases, allowing individuals limited investment but restricting companies. SARS Using AI to Track Down Tax Dodgers South African […]
https://news.bitcoin.com/south-africa-leverages-ai-to-track-down-tax-dodging-crypto-traders/
Maria Corina Machado, head of the political coalition that contests the victory of Nicolas Maduro in Venezuela, has proposed establishing a bitcoin reserve for the country. Machado stated that bitcoin represented a lifeline for many Venezuelans, that protected their wealth from rampant hyperinflation and announced a bitcoin donation campaign to help them in their democratic […]
https://news.bitcoin.com/venezuelan-opposition-leader-proposes-establishing-a-bitcoin-reserve/
Sonic SVM has launched Hyperfuse Nodes, marking a significant milestone as the first node sale in the Solana ecosystem. This initiative aims to enhance decentralized infrastructure within the gaming blockchain space.
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The first atomic SVM chain on Solana, Sonic SVM, has announced the launch of Hyperfuse Nodes, marking the first node sale in the Solana ecosystem. The sale offers participants access to Sonic’s Solana Virtual Machine (SVM) technology and a potential opportunity to earn tokens. Sonic SVM Unveils Hyperfuse Nodes According to the announcement shared with […]
https://news.bitcoin.com/sonic-svm-announces-launch-of-hyperfuse-nodes-in-solanas-first-node-sale/
In the past 15 days, the stablecoin economy experienced modest yet steady expansion, adding $1.08 billion to its overall value. During this time, tether’s market capitalization increased by 790 million. Modest $1.08B Growth in Stablecoin Market Since Aug. 23 Growth in the stablecoin economy has slowed, though it continues to expand, as highlighted by recent […]
https://news.bitcoin.com/stablecoin-economy-expands-1-08b-in-2-weeks-despite-reductions-in-key-coins/
Between Sept. 1 and Sept. 7, 2024, the crypto market took a notable hit, shedding $170 billion in value. Bitcoin and ethereum were the main drivers of this downturn, responsible for 78.82% of the week’s losses. These two heavyweights saw their combined market caps shrink the most, dragging the entire market down with them. Crypto’s […]
https://news.bitcoin.com/september-crypto-crash-wipes-out-170b-bitcoin-and-ethereum-take-the-biggest-hit/
The general public is not actively concerned about whether applications are decentralized because they often cannot tell the difference between centralized and decentralized systems, according to Cais Manai, co-founder of Obscuro Labs. What matters more to them, Manai argues, is how decentralization can address real-world issues. Users Set to Value Decentralized Systems More As an […]
https://news.bitcoin.com/computer-scientist-users-will-value-decentralized-systems-more-as-web3-tech-matures/
According to Victor Yu, co-founder of Carv, the current digital ecosystem favors data distributors over data creators. While he acknowledges the usefulness of regulatory frameworks like the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA)in overseeing internet users, Yu believes these frameworks fall short because they do not translate into full user […]
https://news.bitcoin.com/serial-entrepreneur-digital-ecosystem-favors-data-distributors-over-creators/
Binance Kazakhstan received formal consent from the Astana Financial Services Authority (AFSA) for a full regulatory license, marking a major step toward becoming Kazakhstan’s first fully regulated Digital Asset Trading Facility (DATF). The approval followed rigorous evaluations, including financial audits and ISO certifications. Once licensed, Binance will manage virtual assets, offer custody services, and conduct […]
https://news.bitcoin.com/binance-kazakhstan-receives-formal-consent-for-regulatory-license/
In what local media are calling the first operation of its kind, the Argentine judicial system ordered the seizure of nearly $28,600 in stablecoins from a criminal organization that used cryptocurrency to launder millions of dollars. The criminals obtained these funds from two main activities: phone smuggling and operating illegal online casinos. Argentine Justice Orders […]
https://news.bitcoin.com/first-seizure-of-stablecoins-recorded-in-argentina-as-authorities-disrupt-money-laundering-operation/
Russia will prioritize using its energy for social development instead of Bitcoin mining, according to the Ministry of Energy. Energy Minister Sergei Tsivilev stressed that if there is a surplus in certain areas, this power can be supplied to legal and registered energy miners operating outside the “gray” zone. Russia Will Not Prioritize Supplying Energy […]
https://news.bitcoin.com/russia-to-prioritize-supplying-energy-for-social-development-over-bitcoin-mining/
While bitcoin has dropped 7.6% over the past week and ether has slid 7.98%, many other assets have faced notable declines. The Tron-based SUN token took the hardest hit, plunging 23.61% to become this week’s biggest loser. On the flip side, helium (HNT) surged 27.23% within the same seven-day span. Bitcoin, Ethereum Slump as SUN […]
https://news.bitcoin.com/crypto-economy-falls-to-1-91t-34-coins-hit-hard-with-double-digit-declines/
Equities kicked off Friday on a quiet note, with little movement as the latest U.S. labor market report unveiled a softer-than-anticipated addition of 142,000 jobs for August. The data only adds to growing recession concerns, layering on top of several earlier signs hinting at an economic slowdown. Meanwhile, the 10-2 year Treasury yield spread has […]
https://news.bitcoin.com/rising-yield-curve-and-jobs-miss-add-to-economic-jitters-stocks-and-bitcoin-slide/
Crypto All-Stars (STARS) has blasted through the $1 million mark in its presale phase. With enormous staking rewards on offer through its new “MemeVault” feature, is Crypto All-Stars set to be the next big meme coin launch? STARS Presale Passes $1M as Investor Demand Heats Up Crypto All-Stars’ presale has been gaining momentum, with tens […]
https://news.bitcoin.com/crypto-all-stars-raises-1m-in-trending-presale-is-this-the-next-big-meme-coin/
Fractal Bitcoin, a sidechain of Bitcoin created by the Unisat wallet team, is gearing up for its debut on Sept. 9, introducing a fresh twist on mining called “Cadence Mining.” This process plans to enable bitcoin miners to merge-mine with Fractal Bitcoin every three blocks, offering a unique approach to merged mining and tokenomics within […]
https://news.bitcoin.com/fractal-bitcoin-set-to-launch-sidechain-with-unique-merged-mining-mechanism/
Crypto-native travel platform Travala has announced its integration with global travel marketplace Skyscanner. This partnership allows Skyscanner’s 110 million monthly users to discover and book over 2.2 million hotels using more than 100 cryptocurrencies via Travala. This integration positions Travala alongside leading travel agencies like Expedia and Booking, enhancing visibility and driving new users to […]
https://news.bitcoin.com/travala-integrates-with-skyscanner-enabling-crypto-payments-for-over-2-2-million-hotels/