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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
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/
Ledn, a crypto lending firm, has secured a $50 million Bitcoin-backed syndicated loan from Sygnum, a Swiss digital asset banking group. This loan will be used to expand Ledn’s retail lending operations, providing additional liquidity to the crypto sector and the $1.38 trillion syndicated loan market. The collaboration highlights the growing integration of crypto assets […]
https://news.bitcoin.com/ledn-secures-landmark-50-million-bitcoin-backed-loan-from-sygnum-to-expand-retail-lending-operations/
Hong Kong lawmaker Johnny Ng Kit-chong has called for a legal framework to regulate decentralized autonomous organizations (DAOs) to boost Hong Kong’s Web3 investment landscape. Ng said a recent High Court ruling underscores the rule of law in Web3 operations and sets a significant legal precedent. The Mantra Chain Case A Hong Kong lawmaker, Johnny […]
https://news.bitcoin.com/hong-kong-lawmaker-calls-for-dao-regulation-to-boost-web3-investments/
Global financial services provider State Street has announced a strategic partnership with digital asset infrastructure provider Taurus to enhance its digital asset services. This collaboration aims to offer a comprehensive digital platform, including tokenization and digital custody, expanding State Street’s existing capabilities in fund administration. State Street Partners With Taurus to Expand Digital Asset Services […]
https://news.bitcoin.com/state-street-partners-with-taurus-to-boost-digital-asset-services/
Former CEO of Heartland Tri-State Bank has been sentenced to over 24 years in prison for embezzling $47 million through a fraudulent crypto scheme that contributed to the bank's collapse. This case highlights the ongoing legal repercussions surrounding cryptocurrency fraud and financial misconduct.
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The former CEO of failed Heartland Tri-State Bank was sentenced to over 24 years in prison for embezzling more than $47 million in a fraudulent crypto scheme that caused the bank’s collapse. He funneled the stolen funds into cryptocurrency wallets linked to a “pig butchering” scam, leading to a $9 million loss for investors and […]
https://news.bitcoin.com/former-bank-ceo-sentenced-to-prison-for-47m-crypto-fraud-leading-to-bank-collapse/
Economist and gold advocate Peter Schiff predicts that “precious metals mining will be the best-performing sector” this decade. He highlighted that “gold mining stocks are a steal” and anticipates “a major bull market.” Additionally, Schiff cautioned that the Federal Reserve risks making a policy mistake by cutting interest rates too soon. ‘The Stage Is Set […]
https://news.bitcoin.com/peter-schiff-expects-gold-mining-to-be-best-performing-sector-this-decade-foresees-major-bull-market/
Bitfufu Inc., a Nasdaq-listed cloud mining services company, announced a 69.7% revenue jump for the second quarter of 2024, bringing in $129.4 million. The Singapore-based firm, established in 2020 by CEO Leo Lu, credited this growth largely to a substantial increase in cloud mining revenue, which made up more than half of the quarter’s earnings. […]
https://news.bitcoin.com/bitfufu-reports-70-revenue-growth-in-q2-2024-cloud-mining-clients-pay-77-million/
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/
Roman Ziemian, co-founder of the cryptocurrency platform Futurenet, was arrested in Montenegro for allegedly orchestrating a $21 million cryptocurrency fraud scheme. The arrest was part of an international law enforcement operation involving Montenegrin authorities and Interpol. Ziemian, who was living under a false identity in Podgorica, now faces potential extradition to either Poland or South […]
https://news.bitcoin.com/roman-ziemian-arrested-in-montenegro-for-alleged-21-million-cryptocurrency-fraud/
India’s central bank, the Reserve Bank of India (RBI), published its August bulletin on Monday. The report discusses several aspects of central bank digital currency (CBDC) and its implications. The RBI is actively involved in developing CBDC initiatives to enhance cross-border payments, improve financial inclusion, and mitigate risks posed by private digital instruments. The RBI’s […]
https://news.bitcoin.com/rbi-report-highlights-indias-central-bank-digital-currency-development/
A Utah woman, Krista Renae Stone, 23, was sentenced to 78 months in federal prison for attempting to orchestrate a murder-for-hire using the dark web, the U.S. Department of Justice (DOJ) announced on Monday. Stone targeted her ex-boyfriend’s new girlfriend, arranging to pay $5,000 in bitcoin to a website offering hitman services between March and […]
https://news.bitcoin.com/woman-sentenced-to-prison-for-bitcoin-funded-dark-web-murder-plot/
Seven individuals were arrested in Malaysia during a special operation targeting illegal bitcoin mining in Bandar Baru Salak Tinggi and Taman Putra Perdana. The operation, which involved coordinated efforts by law enforcement, focused on detecting and stopping bitcoin mining activities linked to electricity theft. The suspects, aged between 30 and 74, included three local men […]
https://news.bitcoin.com/7-arrested-in-illegal-bitcoin-mining-crackdown-in-malaysia/
Peter Schiff predicts that gold mining will emerge as the best-performing sector in the coming decade, forecasting a significant bull market for precious metals. His insights highlight the growing importance of gold in investment strategies amid economic fluctuations.
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U.S. President and Republican presidential candidate Donald Trump stated on Monday that if elected, he would consider appointing Tesla CEO Elon Musk to a cabinet or advisory role. Trump praised Musk as a “brilliant” and “very smart guy,” expressing his openness to involving the Tesla boss in his administration if Musk were willing. Recently, Musk […]
https://news.bitcoin.com/donald-trump-considers-elon-musk-for-cabinet-role/
Nigeria’s Securities and Exchange Commission (SEC) has announced that it has not yet issued any crypto licenses, contrary to some reports. The SEC plans to start issuing licenses for digital services and tokenized assets in August 2024. This move follows increased scrutiny of crypto exchanges and a push to regulate the industry, including a mandate […]
https://news.bitcoin.com/nigerias-sec-denies-issuing-provisional-crypto-licenses/
Bit Digital, Inc. has shared an update on its journey into artificial intelligence (AI) services by securing a binding term sheet with Boosteroid Inc., a major player in the cloud gaming industry. This partnership highlights Bit Digital’s strategic direction, which focuses on enhancing its AI capabilities through its existing digital asset mining infrastructure. Bit Digital […]
https://news.bitcoin.com/bit-digital-expands-ai-and-hpc-footprint-signs-700-million-agreement-with-boosteroid/