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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
On Aug. 22, Bitcoin’s onchain transaction fees took off, soaring to more than 1,250 satoshis per virtual byte (sat/vB), which translated to over $105 per transfer at 8:45 a.m. EDT. However, by 9:40 a.m. EDT on Thursday, fees had dropped to 625 sat/vB or $53.26 per transaction. Bitcoin Miners Rejoice as Fees Hit $105 The […]
https://news.bitcoin.com/babylon-staking-sparks-bitcoin-fee-surge-transfers-hit-105-before-plummeting/
On Wednesday, U.S. spot bitcoin exchange-traded funds (ETFs) marked their fifth straight day of inflows, adding $39.42 million to their gains. Meanwhile, the spot ether ETFs experienced a dip, losing $17.97 million during the day’s trading. Spot Bitcoin ETFs See Fifth Day of Inflows, Ether ETFs Hit by $17M Outflows Collectively, the 12 spot bitcoin […]
https://news.bitcoin.com/us-bitcoin-etfs-thrive-with-39m-boost-ethereum-etfs-experience-17m-decline/
HAQQ brings together the most reputable actors of Ethical finance in order to promote community-driven decentralized technologies worldwide. HAQQ is an EVM-equivalent chain, based on Cosmos SDK. The technology behind HAQQ makes it possible for any smart contract created on other EVM chains to be deployed onto the new network without any changes needed. Mohammed […]
https://news.bitcoin.com/gold-backed-and-ready-to-shine-haqq-founders-share-story-behind-deenar-stablecoin/
Arizona Attorney General Kris Mayes has issued a warning about the rising threat of cryptocurrency scams targeting vulnerable individuals, especially seniors. These scams include fraudulent investment schemes, impersonation of businesses or government entities, and blackmail, exploiting the public’s lack of cryptocurrency knowledge. Mayes urged residents to verify suspicious claims, avoid sharing personal information, and report […]
https://news.bitcoin.com/arizona-ag-warns-scammers-always-find-new-ways-to-steal-your-money-with-crypto/
The Tennessee Attorney General’s Office has issued a QR code scam alert, warning consumers about fraudulent QR codes used in various scams, including fake cryptocurrency investments. Consumers are urged to verify sources, check codes for tampering, and use secure scanner apps. Tennessee Attorney General Warns of QR Code Scams The Tennessee Attorney General’s Office issued […]
https://news.bitcoin.com/qr-code-scams-tn-attorney-general-issues-warning/
Crypto exchange Binance says it has protected over $2.4 billion from scams and fraudulent activities this year, safeguarding more than 1.2 million users worldwide. The exchange’s AI-driven and manual risk management system identified and blocked suspicious transactions, particularly during crypto withdrawals, where $1.1 billion in scam-related activities were thwarted, Binance explained. $2.4 Billion Saved, Says […]
https://news.bitcoin.com/binance-says-it-protects-over-2-4-billion-from-crypto-scams-this-year/
Germany’s Federal Financial Supervisory Authority (BaFin) has seized 13 unauthorized cryptocurrency ATMs in a nationwide operation involving 60 officers and raids on 35 locations. BaFin reported that the machines facilitated illegal transactions and posed money laundering risks. Under German law, trading currencies, including cryptocurrencies, without proper authorization is illegal, with violators facing up to five […]
https://news.bitcoin.com/german-authority-seizes-13-unauthorized-crypto-atms/
The Chapter 11 bankruptcy reorganization hearing for Terraform Labs Pte. Ltd. and Terraform Labs Limited is set for Sept. 19, 2024, at 10 a.m. EDT. This hearing will be pivotal in shaping the future of the crypto company, which has encountered substantial hurdles since the Terra ecosystem’s collapse in 2022. Terraform Labs Faces Pivotal Bankruptcy […]
https://news.bitcoin.com/terraform-labs-fate-hinges-on-sept-19-bankruptcy-hearing/
Cryptocurrency fund Ikigai Strategic Partners has agreed to pay a $150,000 fine to the National Futures Association (NFA) following allegations of an illicit bitcoin loan, according to an Aug. 20 decision by an NFA hearing panel. The fine addresses the fallout from the industry-wide liquidity crisis triggered by the collapse of crypto exchange FTX in […]
https://news.bitcoin.com/crypto-fund-settles-with-nfa-over-2-5m-bitcoin-loan/
On Wednesday, Bitfarms Ltd. announced plans to acquire Stronghold Digital Mining Inc. in a stock-for-stock merger valued at approximately $125 million, along with the assumption of $50 million in debt. The deal, expected to close in the first quarter of 2025, aims to expand Bitfarms’ energy portfolio in the U.S. and integrate power generation capabilities […]
https://news.bitcoin.com/bitcoin-miner-bitfarms-to-acquire-stronghold-digital-mining-in-125-million-merger/
Recent data from Cryptoquant researchers indicate that bitcoin demand growth continues to show signs of weakness. Despite this, the report notes that long-term holders have been accumulating bitcoin at unprecedented levels, providing some resilience to the market. Report Shows Bitcoin Demand Craters Amid Weak Market Signals Bitcoin demand has seen a significant decline since early […]
https://news.bitcoin.com/cryptoquant-bitcoin-demand-remains-weak-despite-accumulation-by-long-term-holders/
As bitcoin hovers just below the $60,000 mark, two long-dormant bitcoin wallets, untouched since 2014 and 2013, sprang to life, moving a total of 342.59 BTC, valued at $20.3 million at today’s rates. 2 Vintage Bitcoin Wallets Suddenly Awaken, Moving $20.3 Million On Wednesday, a bitcoin wallet that had been inactive since Aug. 18, 2014—almost […]
https://news.bitcoin.com/dormant-bitcoin-wallets-from-2013-and-2014-come-alive-moving-20-3m/
Crypto investors are buzzing about PlayDoge (PLAY) as its presale enters the final stretch. The project has already managed to raise over $6 million in funding. And with only five days left before the presale closes, investors are rushing to secure PLAY tokens before they hit exchanges. Last Call for PlayDoge’s Red-Hot Presale PlayDoge’s presale […]
https://news.bitcoin.com/playdoges-6m-presale-has-only-5-days-left-analysts-are-expecting-it-to-explode/
As Kamala Harris eyes the presidency, reports highlight the Harris-Walz campaign’s backing of President Joe Biden’s budget proposal. This plan seeks to raise capital gains to 44.6% and introduces a 25% minimum tax on unrealized gains for Americans with over $100 million in wealth. Harris is also targeting an increase in the corporate tax rate, […]
https://news.bitcoin.com/insiders-report-report-kamala-harris-backs-bidens-plan-to-tax-unrealized-gains/
Gate Ventures (crypto exchange Gate.io’s VC arm) and Abu Dhabi Blockchain Center partnered to launch Falcon Gate Ventures, a $100 million fund supporting Web3 innovation. The fund aims to stimulate global Web3 growth and solidify the United Arab Emirates’ position as a digital economy hub. The collaboration will leverage expertise from both parties and involves […]
https://news.bitcoin.com/gate-ventures-abu-dhabi-blockchain-center-launch-100m-innovation-fund/
The Monero team has announced the initiation of a new privacy feature integration, known as Full-Chain Membership Proofs (FCMP++). This feature aims to significantly enhance transaction security and privacy on the Monero network by proving that the output spent is one of any output on the chain. This effectively removes various risks and increases the […]
https://news.bitcoin.com/monero-begins-integration-of-new-privacy-feature-fcmp-to-enhance-transaction-security/
The Australian Securities and Investments Commission (ASIC) has shut down more than 7,300 phishing and investment scam websites, including 615 targeting cryptocurrency. The regulator noted that collaboration with other agencies and advanced detection techniques have enabled ASIC to swiftly take down scams, contributing to the $1.3 billion in financial losses reported by Australians in 2023. […]
https://news.bitcoin.com/615-crypto-scam-sites-dismantled-by-australian-regulator/
Hackers recently took control of McDonald’s official Instagram account to promote a fraudulent Grimace meme coin, successfully scamming users out of $700,000 in Solana. The attackers also compromised the personal X account of McDonald’s Senior Marketing Director to further spread the scam. Grimace Coin, originally created as a meme token inspired by a social media […]
https://news.bitcoin.com/hackers-exploit-mcdonalds-instagram-to-promote-fake-grimace-coin-netting-700000-in-solana/
Nardos Bekele, CEO of NEPAD, believes AI can significantly benefit Africa by addressing various challenges and accelerating progress towards Agenda 2063. Although AI offers potential improvements in sectors like health, education, and agriculture, challenges such as fragmented digital infrastructure and ethical concerns hinder its adoption. Africa’s Agenda 2063 According to the head of an African […]
https://news.bitcoin.com/lack-of-cohesion-hinders-ai-adoption-in-africa-nepad-boss-says/
Nigel Green, CEO of financial advisory and investment management firm Devere Group, has advised investors to reassess portfolios due to the U.S. dollar’s significant drop, which signals a potential shift in market dynamics. The dollar’s decline could present both challenges and opportunities, he said, advising investors to strategically diversify away from dollar-heavy assets to capitalize […]
https://news.bitcoin.com/devere-ceo-advises-shifting-away-from-us-assets-as-dollar-weakens/
On Wed., Aug. 21, 2024, Bloomberg shared that Vice President Kamala Harris intends to back policies that favor digital currencies. Brian Nelson, a senior advisor for the Harris campaign, told Bloomberg in an interview that if Harris secures the presidency in November, she will “support policies that ensure that emerging technologies and that sort of […]
https://news.bitcoin.com/campaign-advisor-says-harris-will-support-policies-promoting-growth-of-digital-currencies/
A Ghanaian banking consultant, Richmond Atuahene, has expressed concerns about Vice President Mahamudu Bawumia’s pledge to back the cedi with gold. Atuahene believes Ghana needs a stable economic environment before implementing this policy. John Gatsi, a dean at the University of Cape Coast School of Business, warns that backing the cedi with gold alone will […]
https://news.bitcoin.com/experts-question-ghana-vps-gold-backed-currency-pledge/
Bitcoin’s price hit $61,838 per coin by 3:45 p.m. EDT on Wednesday, after spending much of the day lingering below the $60,000 mark. The crypto market mirrored the upward movement seen in the S&P 500 and Nasdaq, which both rallied just before the closing bell. This newfound optimism is largely being credited to the Federal […]
https://news.bitcoin.com/bitcoin-bulls-charge-toward-62k-as-feds-minutes-triggers-market-frenzy/
The Supreme People’s Court of China, the highest court of law in the country, and the Supreme People’s Procuratorate have issued a joint document that interprets the current money laundering law and defines several issues related to its application. In this interpretation, the two organizations list virtual asset transactions as one of the tools available […]
https://news.bitcoin.com/highest-court-of-china-moves-to-list-virtual-asset-transactions-as-a-money-laundering-tool/
Two dormant Bitcoin wallets from 2013 and 2014 have recently come to life, moving a total of 342.59 BTC, valued at approximately $20.3 million. This notable activity raises curiosity in the cryptocurrency community about the motives behind the sudden transactions.
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Zimbabwe’s gold-backed currency, the ZIG, has seen a significant increase in usage since its introduction in April. While the U.S. dollar remains the dominant currency for most citizens, the ZIG is used for 40% of payments and 80% of government transactions. The government aims to eventually replace the U.S. dollar with the ZIG as the […]
https://news.bitcoin.com/zimbabwes-gold-backed-currency-sees-gains-but-us-dollar-remains-dominant/
While Bitcoin is widely recognized as a proof-of-work (PoW) network, it’s not necessarily the most profitable PoW asset to mine. With Bitcoin’s hashprice being relatively low, miners have been increasingly turning their attention to mining alephium (ALPH) and kaspa (KAS). These two digital currencies currently offer the highest profitability for miners, according to the latest […]
https://news.bitcoin.com/kaspa-and-alephium-mining-gain-traction-as-bitcoins-hashprice-remains-low/
Five days ago, Arkham Intelligence revealed that Blackrock, the world’s largest fund manager, was on the brink of overtaking Grayscale in onchain asset value. As of Aug. 21, Blackrock has officially surpassed Grayscale, securing its position as the top digital asset manager in terms of onchain reserves. World’s Largest Fund Manager Just Surpassed Grayscale in […]
https://news.bitcoin.com/blackrock-dethrones-grayscale-becoming-worlds-largest-digital-asset-manager/
On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) saw inflows of $88.06 million, while ether ETFs experienced outflows totaling $6.49 million. Blackrock’s IBIT and ETHA led the charge, capturing the largest inflows of the day. Blackrock’s Bitcoin and Ether ETFs Lead the Day in Inflows Data from sosovalue.xyz reveals that spot bitcoin ETFs hauled in […]
https://news.bitcoin.com/inflows-and-outflows-bitcoin-etfs-gain-88m-ether-drops-6-49m/
Binance and its former CEO, Changpeng Zhao (CZ), are facing a revived class action lawsuit in the U.S. District Court for the Western District of Washington, Seattle. The lawsuit, filed by three cryptocurrency investors, alleges that Binance facilitated money laundering of stolen crypto assets, making them untraceable. The plaintiffs claim that their stolen crypto was […]
https://news.bitcoin.com/binance-faces-renewed-legal-battle-over-alleged-crypto-money-laundering/