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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
Stand With Crypto, a crypto and blockchain-focused political action committee (PAC), has decided to endorse 18 additional House and Senate candidates from both parties to get crypto-friendly allies to achieve positive results in the upcoming elections. Among the favored are Kirsten Gillibrand, Rick Scott, Dan Goldman, Young Kim, and House hopefuls Blake Masters and Sarah […]
https://news.bitcoin.com/stand-with-crypto-endorses-18-new-house-and-senate-candidates/
The U.S. Homeland Security Investigations has charged two men for operating Empire Market, a dark web marketplace, facilitating $430 million in illegal transactions. The defendants face severe penalties, including life imprisonment. “During the investigation, federal law enforcement seized cryptocurrency valued at $75 million at the time of the seizures, as well as cash and precious […]
https://news.bitcoin.com/us-charges-empire-market-operators-in-430m-dark-web-scheme-they-face-maximum-sentence-of-life-in-prison/
In a resurfaced video clip, Ripple CEO Brad Garlinghouse stated that his crypto firm is collaborating with around 10 governments globally on central bank digital currencies (CBDCs). “A central bank digital currency is a stablecoin. It’s just issued by the government,” the executive described. Ripple CEO on Working With Governments Worldwide A video clip surfaced […]
https://news.bitcoin.com/ripple-working-with-10-governments-globally-ceo-reveals-in-rediscovered-interview/
Ripple CEO Brad Garlinghouse expressed his view on the political landscape in the U.S. regarding cryptocurrency regulation on social media platform X on Monday. “You’ll hear this a lot more in the next few months in the U.S. — candidates will only gain votes for being pro-crypto, and absolutely lose them for being anti-crypto. There’s […]
https://news.bitcoin.com/ripple-ceo-pro-crypto-stance-will-win-votes-in-upcoming-elections/
A new report by Coinmetrics, along with researchers Victor Ramirez, Matías Andrade, and Tanay Ved, delves into the complexities of crypto tokenomics. The report explores the intricate balance of token distribution, valuation, and market impact. Understanding FDV and Token Float: Key Insights From Coinmetrics In recent years, the launch Fully Diluted Valuations (FDVs) of crypto […]
https://news.bitcoin.com/coinmetrics-report-explores-the-risks-of-high-fdvs-in-crypto-markets/
Bank of America (BOFA) forecasts a bullish trend for silver, anticipating an increase in prices through the latter half of 2024 into 2025. BOFA analysts project silver prices to average $35/oz by 2026, compared to the current spot price of $29.19/oz. This optimistic outlook is driven by expectations of an end to central bank interest […]
https://news.bitcoin.com/bank-of-america-predicts-bullish-trend-for-silver-prices-to-hit-35-oz-by-2026/
The decentralized finance (defi) protocol, Dydx, has officially launched version 5.0.0 of its blockchain software, introducing innovative trading features aimed at enhancing market dynamics and user control. This update, approved by the Dydx community, includes the implementation of isolated markets and margins, designed to refine risk management and collateral usage. Dydx Chain Launches Upgrade According […]
https://news.bitcoin.com/dydx-chain-launches-new-software-version-adds-slinky-oracle-for-real-time-price-updates/
Cleanspark Inc. has announced the acquisition of five new bitcoin mining facilities in Georgia for $25.8 million. The deal is expected to close immediately, increasing the company’s operating hashrate to over 20 EH/s by the end of the month. Publicly Listed Miner Cleanspark Obtains 5 New Mining Facilities The newly acquired sites, which range from […]
https://news.bitcoin.com/cleanspark-acquires-5-bitcoin-mining-facilities-in-georgia-for-25-8-million/
The price of bitcoin (BTC) fell below the $65,000 mark on Tuesday, reaching a low of $64,050 on Bitstamp. At 10:10 a.m. Eastern Time, BTC was trading at around $64,624 per coin. The last time BTC was in this price range was mid-May. Over the past 24 hours, $68.3 million in bitcoin long positions have […]
https://news.bitcoin.com/bitcoin-price-decline-continues-dipping-to-64050-on-bitstamp/
The Venezuelan government is likely to continue using cryptocurrency as a means to circumvent the latest set of U.S. sanctions on the country's oil and gold sectors, despite previous incidences of corruption involving crypto transactions ⚠️
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In the last three days, bitcoin miners have experienced an 8.4% drop in profits, echoing a decrease in bitcoin prices. Since then, the network’s hashrate has fallen below the 600 exahash per second (EH/s) mark. Price Drop Squeezes Bitcoin Mining Profits Revenue for bitcoin miners has declined as the hashprice, the revenue from 1 petahash […]
https://news.bitcoin.com/bitcoin-miners-face-8-4-profit-decline-amid-falling-hashprice-and-market-pressures/
Bitfinex, a leading digital asset trading platform, has announced the listing of a new USD-denominated Tethered Asset, AUSDT, by Alloy by Tether. This innovative offering tethers its value to Tether Gold, backed by physical gold, introducing a new level of stability and reliability to the volatile cryptocurrency market. The AUSDT token, which is available for […]
https://news.bitcoin.com/bitfinex-becomes-first-exchange-to-list-new-usd-denominated-gold-tethered-asset/
South Korean cryptocurrency exchanges are set to reevaluate more than 600 digital assets, and those failing this process will ultimately be delisted. Once the process is completed, crypto exchanges will be required to conduct maintenance reviews quarterly. The reputation of the issuers and user protection tools are among the factors related to virtual assets that […]
https://news.bitcoin.com/korean-exchanges-set-to-reevaluate-over-600-listed-virtual-assets/
Adam Ficsor, the lead developer of Wasabi Wallet, a privacy-centric Bitcoin wallet, has revealed his position regarding the slow adoption of Bitcoin in El Salvador. In a recent interview, Ficsor stated that Bitcoin developers have failed El Salvador, having been unable to improve the situation of Bitcoin as a means of exchange, even with the […]
https://news.bitcoin.com/wasabi-wallet-lead-developer-bitcoin-developers-are-failing-el-salvador/
Fidelity Investments’ Director of Global Macro sees bitcoin as “exponential gold” and “an aspiring player on the store of value team.” According to his analysis, bitcoin’s price is “driven primarily by the growth in its network, which is in turn driven by bitcoin’s unique scarcity feature, as well as the monetary and fiscal policy cycle, […]
https://news.bitcoin.com/fidelitys-director-of-global-macro-sees-bitcoin-as-exponential-gold-on-store-of-value-team/
New York Rep. Alexandria Ocasio-Cortez has criticized the involvement of Fairshake, a crypto-focused super PAC, in New York’s 16th congressional district democratic party elections. Ocasio-Cortez qualified the media campaign against incumbent Jamaal Bowman, valued at over $2 million, as “corruption” and a “core threat to American democracy” on social media. Alexandria Ocasio-Cortez Tells Crypto PAC […]
https://news.bitcoin.com/alexandria-ocasio-cortez-bashes-fairshake-involvement-in-new-york-democratic-party-primaries/
The Bank of Thailand might be increasing its gold reserves to power a de-dollarized trading system, according to Jan Nieuwenhuijs, a gold market analyst. Nieuwenhuijs states that the Bank of Thailand’s constant gold purchases might indicate the nation is preparing to address the possible trade imbalances derived from using Mbridge, a CBDC cross-border settlement project. […]
https://news.bitcoin.com/analyst-bank-of-thailand-boosts-gold-reserves-to-push-de-dollarized-trading-system-fueled-by-cbdc/
Balaji Srinivasan argues that in the era of AI, money will become cryptocurrency, providing digital scarcity to complement AI’s digital abundance. “AI is digital abundance but it doesn’t make everything abundant. Crypto is digital scarcity and complements AI’s abundance. So money after AI is crypto,” he detailed. ‘Money Itself Becomes Cryptocurrency’ Balaji Srinivasan, a prominent […]
https://news.bitcoin.com/balaji-srinivasan-explains-why-crypto-will-dominate-post-ai-money-systems/
Multiple U.S. states have revoked or declined to renew Binance US money transmitter licenses due to compliance issues and legal troubles involving former CEO Changpeng Zhao (CZ). “North Dakota joins Alaska, Florida, Maine, North Carolina, and Oregon who have taken similar actions to revoke or deny the renewal of BAM Trading Services’ Money Transmission License,” […]
https://news.bitcoin.com/multiple-us-states-have-revoked-binance-us-crypto-licenses/
Blackrock’s chief investment officer of ETF and Index Investments discussed the cautious approach financial advisors take toward spot bitcoin exchange-traded funds (ETFs) due to price volatility and regulatory concerns. “Their job is really to construct portfolios and do the risk analysis and due diligence,” the executive stressed. “They’re doing that right now.” ‘This Journey That […]
https://news.bitcoin.com/blackrocks-cohen-discusses-financial-advisors-cautious-approach-to-spot-bitcoin-etfs/
According to an announcement, the Web3 and crypto firm Transak listed Paypal’s stablecoin, paypal usd (PYUSD), on its platform. This integration allows users to purchase PYUSD using various local payment methods, aiming to simplify the transition to cryptocurrencies. PYUSD Listed on Transak, Aiming to Ease Defi Transition Transak, a Web3 payments infrastructure provider, has added […]
https://news.bitcoin.com/transak-lists-paypals-pyusd-for-easier-crypto-access/
Tether, one of the largest companies in the stablecoin arena, has announced the launch of Alloy, a series of assets pegged to the value of another asset, but collateralized with gold. The first token in the Alloy lineup is AUSDT, which will track the value of the U.S. dollar using Tether Gold (XAUT) as collateral. […]
https://news.bitcoin.com/tether-launches-alloy-opening-the-gates-for-issuing-gold-standard-compliant-assets/
Solana-based cryptocurrency Beercoin has begun to show weakness after monumental early success. However, another Solana-based meme coin, Sealana, is just days out from its exchange launch, and analysts are hopeful that it could explode next. BEER Plunges Over 30% as Crypto Prices Tumble It’s been a challenging time for anyone who bought Beercoin this week […]
https://news.bitcoin.com/beercoin-price-sinking-but-expert-says-this-sealana-meme-coin-could-explode-next/
At the World Digital Mining Summit in Las Vegas, Bitmain, a leading manufacturer of application-specific integrated circuit (ASIC) bitcoin mining rigs, introduced two new mining machines. Both models—one air-cooled and one hydro-cooled—boast an efficiency rating of under 14 joules per terahash. Bitmain Introduces S21 XP and S21 XP Hydro Bitmain’s new Antminer S21 series mining […]
https://news.bitcoin.com/bitmains-new-s21-bitcoin-mining-rigs-debut-with-up-to-473-th-s-of-hashpower/
U.S. spot bitcoin exchange-traded funds (ETFs) experienced their third consecutive day of outflows on Monday, losing over $145 million. Fidelity’s FBTC continued to lead the outflows with $92 million exiting the fund on June 17. Fidelity’s FBTC and Ark Invest’s ARKB Among Biggest Losers During Monday’s Outflow According to sosovalue.xyz metrics, U.S.-based spot bitcoin ETFs […]
https://news.bitcoin.com/us-spot-bitcoin-etfs-face-third-day-of-outflows-145-million-drained-on-monday/
Coinbase International has announced its support for pre-launch markets, a platform that allows traders to trade perpetual futures contracts for tokens that are yet to launch. This feature offers traders the opportunity to participate in price discovery of upcoming projects within a secure environment. Pre-launch markets also carry unique considerations and elevated risks, including lower […]
https://news.bitcoin.com/coinbase-international-adds-support-for-trading-pre-launch-tokens/
The Securities and Exchange Commission of Zimbabwe (SECZ) and the Reserve Bank of Zimbabwe (RBZ) are reportedly developing a framework for virtual asset trading. The framework aims to provide clear legislation, client protection under the Data Protection Act, and educational support. Challenges include infrastructural investment and licensing fees for foreign-supplied systems. An informal virtual asset […]
https://news.bitcoin.com/zimbabwean-regulators-develop-framework-for-virtual-assets-trading/
Tanzania plans to amend its Income Tax Act to tax crypto trades. The proposal includes a three per cent withholding tax on income from digital asset transactions. Digital platform owners or facilitators of digital asset transfers will act as withholding agents. Foreign citizens operating such platforms must register under Tanzania’s Simplified Tax Regime. The government […]
https://news.bitcoin.com/tanzania-targets-crypto-traders-with-proposed-income-tax-act-amendment/
The Financial Stability Board (FSB) Plenary met in Toronto on June 14 to discuss various financial stability issues. Key topics included the financial stability outlook, lessons from the March 2023 banking turmoil, and enhancing the resilience of non-bank financial intermediation (NBFI). The FSB also reviewed progress on implementing its global regulatory framework for crypto asset […]
https://news.bitcoin.com/financial-stability-board-emphasizes-need-for-global-crypto-regulation-to-prevent-arbitrage/
The head of the Crypto Asset and Cyber Unit at the U.S. Securities and Exchange Commission (SEC)’s Division of Enforcement has left the agency after nine years of service. Under his guidance, the SEC took many enforcement actions against crypto firms, including major crypto trading exchanges Binance and Coinbase. SEC’s Crypto Enforcement Unit Leader Departs […]
https://news.bitcoin.com/secs-crypto-enforcement-unit-chief-departs-after-9-years/