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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
The Central Bank of Nigeria (CBN) will reintroduce a foreign exchange auction system as part of efforts to ease pressure on the local currency. The CBN has called on authorized dealer banks to share their respective lists of outstanding forex demand by end users. Auction System Aims to Mitigate Impact of Dollar Shortage on Exchange […]
https://news.bitcoin.com/nigeria-acts-to-stabilize-currency-with-forex-auction/
In July, numerous dormant bitcoin wallets, established in 2017, showed substantial activity. This trend continues into August, with 467.63 BTC spent so far, amounting to approximately $28.2 million. Millions on the Move: What’s Behind the Reawakening of 2017 Bitcoin Wallets? Last month, sleeping bitcoin wallets from 2017 moved about 1,636.94 BTC through 23 distinct transactions. […]
https://news.bitcoin.com/several-2017-wallets-reactivate-in-august-28-2-million-in-bitcoin-on-the-move/
A center aiming to drive blockchain innovation and establish Abu Dhabi as a hub for top global events and workshops, connecting industry leaders, has officially opened. Additionally, the blockchain center will incorporate a venture capital arm to support and invest in Web3 startups. Center to Serve as Platform for Launching Latest Blockchain Technology Apps A […]
https://news.bitcoin.com/abu-dhabi-unveils-blockchain-center-to-drive-blockchain-innovation/
We listen to talk after talk about crypto finally achieving asset-class legitimacy, but truly speaking, the encroachment of Wall Street giants into the blockchain space is a double-edged sword. The following is an opinion editorial written by Karel Kubat, Founder of Union Labs. As blockchain enthusiasts, we’ve long championed decentralization, transparency, and democratized access—the 2008 […]
https://news.bitcoin.com/blockchain-and-nation-state-infrastructure-why-bother/
Canza Finance has partnered with stablecoin issuer WSPN to provide secure and efficient financial solutions to users in Africa and other emerging markets. With the integration of WUSD into Canza Finance’s ecosystem, African users will be able to smoothly convert fiat currencies to the WUSD stablecoin. Boosting RWA and Defi Adoption Africa-focused fintech firm Canza […]
https://news.bitcoin.com/canza-finance-partners-with-stablecoin-issuer-to-bring-efficient-financial-solutions-to-africa/
Former U.S. President Donald Trump emphasized the importance of the U.S. leading in cryptocurrency, suggesting that the government could pay off its $35 trillion national debt with bitcoin. He described crypto as “a different form of currency” that is already “prominent” and “massive,” stating that “it’s going to end up benefiting the country.” Trump Advocates […]
https://news.bitcoin.com/trump-suggests-paying-off-35-trillion-national-debt-with-bitcoin-wants-us-to-be-leader-in-crypto/
The BRICS economic bloc is progressing towards a digital payment platform, Russia’s Federation Council Speaker Valentina Matviyenko has revealed. The initiative, named BRICS Bridge, aims to establish an independent financial system. This system could mitigate dependency on Western institutions, especially amid sanctions and Russia’s SWIFT disconnection. BRICS Moves Forward With Digital Payment Platform Initiative The […]
https://news.bitcoin.com/brics-advances-toward-independent-digital-payment-platform-russian-official-says/
JPMorgan, one of the largest investment banks, has predicted that silver prices will soar in 2025, led by different factors including an increase in demand from the expected monetary shifts and silver’s value as an inflation hedge. The price action, expected to reach $36 per ounce, will also be aided by supply constraints. JPMorgan Expects […]
https://news.bitcoin.com/jpmorgan-expects-silver-prices-to-soar-in-2025/
On Friday, U.S. spot ethereum exchange-traded funds (ETFs) faced $54.27 million in outflows, a stark contrast to Thursday’s net inflow of $26.7 million, as indicated by recent data. Meanwhile, Grayscale’s Ethereum Trust (ETHE) has seen a reduction of over $2 billion in ethereum since July 23. U.S. Ether ETFs Shed $54.27 Million on Friday The […]
https://news.bitcoin.com/grayscales-ethe-hemorrhages-2-billion-in-just-9-trading-days/
QCP Capital has reported a significant reversal in the crypto market, with bitcoin (BTC) prices retracing from recent highs. This shift comes amid an influx of bitcoin supply and worsening macroeconomic conditions. QCP Analysts Highlight Market Correction Driven by Bitcoin Supply Surge and Bearish Macro Sentiment In its recent market note, QCP Capital observed that […]
https://news.bitcoin.com/qcp-capital-bitcoin-price-drop-due-to-supply-surge-and-macroeconomic-woes/
WienerAI (WAI) has proven to be one of the biggest crypto projects of the summer, with investors flocking to the token as the presale draws to a close. With WAI raising over $9 million ahead of its initial DEX listings on Monday 5th August, excitement is building around this new AI meme coin. Last Chance […]
https://news.bitcoin.com/analysts-bullish-on-wienerai-as-it-crosses-9m-in-ico-2-days-ahead-of-dex-launch/
PRESS RELEASE. Taipei, Taiwan —The Open Summit, the largest TON summit this summer, is set to be a landmark event for the global TON community. Powered by TONX and supported by the global TON community, the summit will take place from August 6-8, 2024, at the Taipei Nangang Exhibition Center TaiNEX2, as a part of […]
https://news.bitcoin.com/the-open-summit-set-to-transform-asias-web3-landscape-as-the-largest-ton-event-this-summer-2/
The seemingly fundamentals-defying surge of Solana’s native token, SOL, may reflect the project’s potential rather than its current technical performance, according to Chris Zhu, the CEO of Sonic. To support this assertion, Zhu highlights Solana’s ecosystem growth despite recent outages. Solana Stress Tests Lead to Upgrades and Improvements Nevertheless, in his written responses shared with […]
https://news.bitcoin.com/solana-tokens-rally-reflects-protocols-potential-says-web3-advocate/
Iran plans to support Russia’s initiatives on creating a BRICS single currency and expanding national currency payments within the bloc, according to Iran’s Ambassador to Moscow, Kazem Jalali. The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring the creation of a new currency to reduce reliance on the U.S. dollar and mitigate […]
https://news.bitcoin.com/iran-backs-russia-on-brics-single-currency-initiative/
An Airbnb host, Ashley, shared her experience on Tiktok about guests who accumulated a $1,500 electricity bill by setting up an electric vehicle station and mining cryptocurrency during their three-week stay. Despite leaving the property in excellent condition, the guests’ excessive energy use, captured on external security cameras showing them bringing in 10 computers, prompted […]
https://news.bitcoin.com/airbnb-host-imposes-no-mining-rule-after-guests-rent-her-property-to-mine-crypto/
After peaking at 677 exahash per second (EH/s) on July 25, Bitcoin’s network hashrate declined to 629 EH/s as of Aug. 4. The recent uptick in Bitcoin’s mining difficulty, coupled with the subsequent drop in its price, has driven bitcoin mining revenue to record lows. Monthly Bitcoin Fee Revenue Drops 75%, Hashrate Slides 48 EH/s […]
https://news.bitcoin.com/historic-drop-in-bitcoin-revenue-leaves-miners-struggling/
The U.S. stock market experienced significant declines, and the crypto market fell by 5.82% following a disappointing jobs report, sparking concerns about a potential recession. Meanwhile, Coinbase reported $1.4 billion in Q2 revenue, highlighting growth and regulatory progress in the crypto sector. In Zambia, the central bank aims to enforce the kwacha as the sole […]
https://news.bitcoin.com/markets-in-freefall-coinbase-reports-great-q2-revenue-and-more-week-in-review/
Mercado Libre, a financial and e-commerce service company with its own cryptocurrency token, became the largest company in Latin America after announcing its financial results for Q2. Mercado Libre announced a net income of $531 million, significantly surpassing the expected $432 million. Other numbers were also positive, including a 36% growth in sales in Brazil, […]
https://news.bitcoin.com/crypto-friendly-mercado-libre-becomes-latams-largest-company/
This piece is a guest post by Blocmates. Blocmates is an invaluable crypto news and educational resource that offers clarity in the often complicated and jargon-filled crypto space. In this article, writer Gaz of Blocmates breaks down Megaeth, one of the hottest Layer 2s, including explaining the technical reasons why so many people are excited […]
https://news.bitcoin.com/megaeth-the-endgame-eth-scaling-solution/
India’s Enforcement Directorate (ED) has executed its inaugural raid in the Leh Ladakh region to investigate fraudulent cryptocurrency activities under the Public Money Laundering Act (PMLA). The operation targeted six locations across Leh in Ladakh, Jammu in J-K, and Sonipat in Haryana, focusing on A. R. Mir and his associates. Allegations suggest thousands of investors […]
https://news.bitcoin.com/indias-crypto-raid-uncovers-massive-fraud-in-ladakh/
Rich Dad Poor Dad author Robert Kiyosaki has declared that the stock market crash has arrived and “losses are substantial.” He stressed that the crash presents a lucrative opportunity for investors to buy assets at lower prices. Kiyosaki advised people to consider this downturn as a chance to get richer, predicting significant future gains in […]
https://news.bitcoin.com/robert-kiyosaki-declares-market-crash-has-arrived-losses-are-substantial/
Morgan Stanley is set to offer spot bitcoin exchange-traded funds (ETFs) to select clients through its 15,000 financial advisors starting next week. This marks a significant first for a major Wall Street bank. Advisors can pitch Blackrock’s Ishares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund to eligible clients, reflecting the growing acceptance of bitcoin […]
https://news.bitcoin.com/morgan-stanleys-15000-financial-advisors-can-start-pitching-bitcoin-etfs-to-clients-next-week/
U.S. senators received over 2,200 letters within 48 hours advocating for Senator Cynthia Lummis’ bill to make bitcoin a strategic reserve. The bill proposes the U.S. government acquire a significant bitcoin reserve to bolster the U.S. dollar and pay down national debt, aiming to position the U.S. as a global leader in financial innovation. Senators […]
https://news.bitcoin.com/us-senators-flooded-with-2200-letters-advocating-bitcoin-as-strategic-reserve/
Whatsapp, the social media platform owned by Meta Inc., has stated that it would be impossible to comply with additional demands from Nigeria’s consumer protection agency. The social media platform argues that the Nigerian agency’s order compelling it to pay a $220 million fine contains multiple inaccuracies and misrepresents how the platform operates. The fine […]
https://news.bitcoin.com/whatsapp-warns-it-may-leave-nigeria-over-order-to-pay-a-220-million-fine/
The Orissa High Court in India has reaffirmed that cryptocurrency trading and transactions are neither banned nor deemed illegal in India. Citing the legality of crypto, the court granted bail to Sandeep Chowdhury, CEO of Yes World, who was accused of defrauding investors through a Ponzi scheme disguised as a cryptocurrency business. Orissa High Court […]
https://news.bitcoin.com/indian-court-reaffirms-legality-of-cryptocurrency-grants-bail-to-yes-world-ceo/
In July, bitcoin miners earned $951.11 million, marking the lowest monthly revenue of the year. Out of this total, $24.9 million was generated from transaction fees, reflecting a trend of low onchain fees. July Bitcoin Mining Revenue Plummets to a 2024 Low The month was particularly challenging for bitcoin miners, as earnings hit their lowest […]
https://news.bitcoin.com/bitcoin-mining-squeeze-july-revenue-hits-lowest-monthly-intake-of-the-year/
Based on Polymarket predictions, Pennsylvania Governor Josh Shapiro is currently favored to be Kamala Harris’s Vice Presidential pick for her 2024 U.S. presidential campaign. Polymarket participants currently give Shapiro a 72% likelihood of being chosen as the running mate. Betting Markets Show Josh Shapiro Poised to Be Kamala Harris’s VP As of now, Kamala Harris […]
https://news.bitcoin.com/polymarket-bets-big-on-josh-shapiro-is-he-kamala-harriss-secret-vp-pick-for-2024/
The Ethiopian Prime Minister, Abiy Ahmed, has defended the decision to float the birr and insisted that this move does not amount to the devaluation of the currency. Ahmed stated that the intention is to unify the official and parallel market exchange rates. Reports suggest that Ethiopia’s decision to float the birr was promptly rewarded […]
https://news.bitcoin.com/ethiopian-premier-defends-currency-float-decision-rejects-devaluation-claims/
The Ohio Department of Commerce has ordered crypto exchange Coinzoom to cease operations in the state effective Aug. 1 following a regulatory examination. Current customers can still withdraw their assets, but the exchange cannot accept new business. The suspension follows a multi-state examination revealing financial discrepancies. Coinzoom is seeking an administrative hearing to address the […]
https://news.bitcoin.com/coinzoom-operations-suspended-in-ohio-following-regulatory-examination/
The head of strategy at crypto investment firm 21shares has explained that the broad-based bitcoin selloff following the Federal Reserve’s decision to keep interest rates unchanged was partly due to increasing geopolitical tensions in the Middle East and fears of conflict escalation, leading to a temporary flight to safety. He also noted that anticipated interest […]
https://news.bitcoin.com/bitcoin-and-crypto-to-gain-as-falling-rates-expand-global-liquidity-says-21shares-vp/