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The Industrial and Commercial Bank of China (ICBC), the world’s largest bank by total assets, recently compared bitcoin to digital gold and labeled Ethereum “digital oil” in a report. The bank emphasized the roles of these cryptocurrencies in the digital economy and their contributions to technological advancements. ICBC Sees Bitcoin as Digital Gold, Ethereum as […]
https://news.bitcoin.com/worlds-largest-bank-icbc-sees-bitcoin-as-digital-gold-calls-ethereum-digital-oil/
According to an analysis by The Insight Partners, the copy trading market is predicted to increase from $2.2 billion to $4 billion by the end of this decade. Thanks to this expansion, brokers now have a significant chance to implement cutting-edge copy trading platforms that satisfy trader demands. B2Broker has introduced a new generation of […]
https://news.bitcoin.com/b2brokers-new-generation-copy-trading-platform-shakes-up-the-market/
Fed Maintains Interest Rate; Equity Markets and Crypto Economy Experience Choppy Waters
The Federal Open Market Committee (FOMC), the group overseeing the nation's open market operations under U.S. law, decided to keep the target range for the federal funds rate at 5.25 to 5.5%. "The committee is strongly committed to returning inflation to its 2% objective," the FOMC stated on Wednesday. Read More Here 👉👉👉 https://x.com/BTCTN/status/1800954889608012036
Terraform Labs to Pay $4.47B in Settlement with SEC Following 2022 Collapse
According to a Bloomberg Law report, Terraform Labs Pte. agreed to pay $4.47 billion to settle a civil lawsuit filed by the U.S. Securities and Exchange Commission (SEC) after the Terra blockchain project’s 2022 collapse, which erased $40 billion in investor assets. Read More Here 👉👉👉 https://x.com/BTCTN/status/1800945006967972219
PRESS RELEASE. Cheyenne, WY, June 12, 2024 – AxonDAO (Axon DAO LLC, Wyoming) proudly announces the launch of A+Voice, an innovative research platform designed to monitor vocal biomarkers. This platform is an exceptionally effective tool for the early detection and ongoing assessment of conditions such as Alzheimer’s, Parkinson’s, dementia, post-traumatic stress disorder (PTSD), and Huntington’s […]
https://news.bitcoin.com/axondao-unveils-avoice-pioneering-biometric-ai-voice-collection/
The latest Glassnode onchain report reveals that major labeled entities collectively hold approximately 4.23 million bitcoin, representing over 27% of the adjusted circulating supply. This significant concentration of BTC holdings underscores the prominent role these entities play within the bitcoin ecosystem. Institutional Holdings: ETFs, Miners, Government, and Exchanges Control 4.23 Million Bitcoin According to Glassnode’s […]
https://news.bitcoin.com/report-major-entities-hold-over-4-million-bitcoin-accounting-for-27-of-supply/
Ripple has completed its acquisition of Standard Custody & Trust Company, a regulated digital asset custodian. This acquisition, announced by Ripple earlier this year, involves a trust company regulated by the New York Department of Financial Services. It broadens Ripple’s portfolio of licenses, which now includes nearly 40 U.S. money transmitter licenses, a Major Payment […]
https://news.bitcoin.com/ripple-completes-acquisition-of-standard-custody-trust-company/
The meme coin economy is thriving on Wednesday, ahead of the U.S. Federal Reserve meeting, as the sector saw nearly $4 billion injected over the last 12 hours. Several meme tokens experienced substantial gains, with BENJI rising 36.9%, MAGA increasing 23.2%, and the runes-based DOG gaining 22.1%. Crypto Market Rises 3.24% as Meme Coins Drive […]
https://news.bitcoin.com/meme-coin-economy-gains-4-billion-capital-injection-ahead-of-fed-meeting/
U.S. spot bitcoin exchange-traded funds (ETFs) witnessed $200.31 million in outflows on Tuesday following the $64 million in outflows the day prior. Grayscale’s Bitcoin Trust (GBTC) shed the most with a $121 million reduction. Spot Bitcoin ETFs Lose Ground Spot bitcoin ETFs have recorded two days of outflows so far as Tuesday’s trading sessions saw […]
https://news.bitcoin.com/us-bitcoin-etfs-see-200-million-outflow-grayscale-leads-with-121-million/
Russian President Vladimir Putin recently announced that the BRICS bloc aims to establish an independent payment system, free from political pressure and external interference. Putin stated that the addition of new members has increased BRICS’ share of global GDP to 36% and its share of the global population to 45%. Putin Announces BRICS Open to […]
https://news.bitcoin.com/putin-says-brics-developing-independent-payment-system-free-from-political-pressure/
Nick Tomaino, a former business developer and marketing lead at Coinbase, explained how the idea of bitcoin for payments gradually lost its relevance in the market. Tomaino detailed that Coinbase rode this premise back in 2014 to raise $125 million in two funding rounds, but it was quickly clear that there was not a case […]
https://news.bitcoin.com/former-coinbase-business-developer-there-wasnt-a-long-term-case-for-bitcoin-payments/
The UBS editorial team, comprising financial analysts and economists at UBS, a prominent global financial services firm, recommends purchasing gold during price dips rather than selling. Recently, gold prices fell by over $80 per ounce due to strong U.S. payroll and earnings data, coupled with a rise in the 10-year U.S. Treasury yield and the […]
https://news.bitcoin.com/ubs-recommends-buying-gold-dips-amid-economic-uncertainty/
Russian President Vladimir Putin claims U.S. economic policies are diminishing the dollar’s global dominance. “Last year the share of payments for Russian exports in the unfriendly states’ so-called toxic currencies was halved,” he revealed, labeling the U.S.’s $1 trillion trade deficit as modern neocolonialism and emphasizing Russia’s shift towards using the ruble and local currencies […]
https://news.bitcoin.com/putin-says-us-dollar-dominance-diminishing-as-use-of-toxic-currencies-declines/
Analysts Highlight Significant Bitcoin Miner Capitulation Ahead of Fed Meeting —“Yesterday we saw the largest daily miner selling volume since late March: 1,200 bitcoin,” Moreno wrote. “Some big mining companies have been selling a portion of their reserves. These are bitcoin being sold OTC, not in exchanges,” the researcher added. https://x.com/BTCTN/status/1800660607416348776
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BRICS Ministers of Foreign Affairs have emphasized using local currencies in trade, reaffirming economic resilience and financial sovereignty. At their meeting on Monday, the Ministers underscored the importance of the enhanced use of local currencies in financial transactions between the BRICS countries. BRICS Ministers Push for Use of Local Currencies The BRICS Ministers of Foreign […]
https://news.bitcoin.com/brics-meeting-highlights-shift-to-local-currencies/
Bitwise’s Senior Crypto Research Analyst, Juan Leon, predicts a transformative impact on the global economy as artificial intelligence (AI) and cryptocurrency converge, potentially adding $20 trillion to the global Gross Domestic Product (GDP) by 2030. AI and Crypto — The Trillion-Dollar Synergy Leon’s bold forecast was emphasized at the recent Consensus conference in Austin, which […]
https://news.bitcoin.com/bitwise-analysis-ai-and-crypto-fusion-poised-to-elevate-global-economy-by-20-trillion/
In a comprehensive new report, Crystal Intelligence, a blockchain analytics firm, details a significant $19 billion in losses due to cryptocurrency crimes over the past thirteen years. The study covers a timeline from June 19, 2011, to March 6, 2024, and delves into the various types of criminal activities within the digital currency space. Study […]
https://news.bitcoin.com/crystal-intelligence-report-reveals-19-billion-lost-in-crypto-crimes-over-13-years/
Over the past 12 months, bitcoin (BTC) has appreciated more than 168% against the U.S. dollar, a notable performance compared to other asset classes globally. However, seven out of the top ten gainers in the past year have been meme coins, with the crypto assets TRUMP, WIF, BOME, BONK, MOG, and TURBO leading the charge. […]
https://news.bitcoin.com/12-month-crypto-gainers-meme-coins-take-7-of-top-10-spots/
Pixelverse, a developing entertainment studio and game ecosystem, has secured $5.5 million in a private funding round led by prominent Web3 venture capital firms. The funds are intended to support the growth of Pixelverse’s gaming platform, which has seen significant user engagement since its launch. Pixelverse Secures $5.5 Million Pixelverse‘s recent funding round saw participation […]
https://news.bitcoin.com/pixelverse-raises-5-5-million-to-expand-web3-gaming-ecosystem/
The Ghanaian cedi recently plunged to a record low, trading at GHS 14.9335 against the U.S. dollar, which led to its designation as the fourth-worst-performing currency globally. Additionally, a decline in cocoa production has further complicated matters for the cedi, a currency previously ranked as the world’s worst-performing during the last quarter of 2022. Cedi […]
https://news.bitcoin.com/ghanas-cedi-hits-record-low-against-us-dollar-amid-cocoa-output-decline/
Base Dawgz (DAWGZ), a brand-new multi-chain meme coin, has raised over $1 million in its presale. And now, one prominent analyst is predicting that DAWGZ could 10x from its current price after listing on DEXs. Base Dawgz – The Multi-Chain Meme Coin with Staking Rewards So, what’s fueling Base Dawgz’s early momentum? It’s mainly down […]
https://news.bitcoin.com/new-viral-meme-coin-base-dawgz-raises-1m-as-crypto-expert-forecasts-10x-potential/
Riot Platforms Calls for Bitfarms Chairman's Resignation, Demands Governance Changes
Bitcoin mining and infrastructure company Riot Platforms has criticized Bitfarms for adopting a shareholder rights plan, known as a Poison Pill, which prevents any shareholder from acquiring 15% or more of Bitfarms’ common shares without a formal takeover bid. Read More Here 👉 👉 👉 https://x.com/BTCTN/status/1800890935070355857
A new stablecoin has emerged among the top ten U.S. dollar-pegged tokens. Known as USDB, this auto-rebasing stablecoin was developed by the Blast team. Despite the stablecoin economy being underwhelming over the past 30 days, USDB has quietly secured the ninth-largest market capitalization among all U.S. dollar stablecoins. USDB Climbs the Ranks The decentralized finance […]
https://news.bitcoin.com/blasts-rebasing-stablecoin-usdb-now-ranks-9th-among-dollar-pegged-crypto-tokens/
Ripple has announced the development of a new product, the XRPL EVM Sidechain, which will bring Ethereum Virtual Machine (EVM) compatibility to the XRP Ledger (XRPL). This move is expected to unlock new opportunities in decentralized finance (defi) and real-world asset (RWA) tokenization. The sidechain will connect to the XRPL mainnet using a bridge, with […]
https://news.bitcoin.com/ripple-introduces-xrpl-evm-sidechain-bringing-ethereum-virtual-machine-compatibility-to-xrp-ledger/
In a significant announcement at the XRP Ledger Community Summit (#XRPL Apex) held in Amsterdam from 11-13 June 2024, Brad Garlinghouse, the CEO of Ripple, unveiled the name of Ripple’s new stablecoin – $RLUSD. Garlinghouse expressed his fondness for the name, stating, “I like to call it Real USD… Ripple USD”. This development marks a […]
https://news.bitcoin.com/ripple-ceo-unveils-new-stablecoin-name-at-xrp-ledger-community-summit/
Squads Labs, the team behind the Squads Solana-based smart accounts protocol, the Squads app, and the smart account-enabled wallet Fuse, announced it raised $10 million in its Series A funding round. Led by Electric Capital, the funds will be used to improve the functionality of already existing products and take Fuse to the market. Squads […]
https://news.bitcoin.com/squads-labs-raises-10-million-in-series-a-round-launches-fuse-smart-wallet/
Metaplanet, a publicly traded corporation on the Tokyo Stock Exchange, has announced an investment of 23.351 bitcoins, with an average purchase price of 10,706,180 yen per BTC, totaling 250 million yen ($1.6 million). The company now holds 141.0727 bitcoins, with an average purchase price of 10,278,391 yen per BTC, amounting to a total aggregated purchase […]
https://news.bitcoin.com/japanese-corporation-metaplanet-acquires-more-bitcoin-stock-price-soars/
Rich Dad Poor Dad author Robert Kiyosaki has stated that bitcoin is the easiest way to become a millionaire because the cryptocurrency “does the hard work.” He contrasted this with entrepreneurship, which requires significant intelligence, dedication, and luck. “That is why I love bitcoin,” he emphasized. Bitcoin Is the Easiest Route to Millionaire Status, Robert […]
https://news.bitcoin.com/rich-dad-poor-dad-author-robert-kiyosaki-sees-bitcoin-as-the-easiest-way-to-become-a-millionaire/
Two experts have explained that the global debate on the future of dollar dominance misses the point because it doesn’t focus on how the dollar’s future will evolve. They warned: “If the U.S. doesn’t keep its house in better order, dollar dominance will be the least of our worries.” Experts Discuss US Dollar’s Dominance Steven […]
https://news.bitcoin.com/experts-say-dollar-dominance-debate-misses-the-point-us-needs-economic-focus/
Bitwala, a blockchain banking service based in Berlin, has entered into a partnership with Curve, a digital wallet provider. The partnership is aimed at integrating Bitwala’s services with Curve’s digital wallet. Users can add Bitwala to their Curve Wallet and avail a 1% cashback offer on their purchases for 30 days. The Curve card can […]
https://news.bitcoin.com/bitwala-and-curve-announce-partnership-for-digital-wallet-integration/