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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
At this moment, Tesla’s Elon Musk holds the title of the wealthiest individual on the planet, as reported by the Forbes Real Time Billionaires list on June 1, 2024. However, there exists a potential future where Bitcoin’s creator, Satoshi Nakamoto, could surpass Musk’s fortune. Given the current value of BTC, the price would need to […]
https://news.bitcoin.com/musk-vs-nakamoto-a-210-bitcoin-surge-could-change-the-worlds-wealth-rankings/
This weekend, the Singaporean cryptocurrency firm QCP Capital reported a significant drop in market volatility after the approval of spot ethereum (ETH) exchange-traded funds (ETFs), despite ongoing catalysts. QCP highlighted that bitcoin is under bearish pressure due to potential new supply from the Mt Gox distribution, estimated at $9.6 billion, and from the DMM Bitcoin […]
https://news.bitcoin.com/sleepy-crypto-market-may-get-caught-offside-qcp-capital-eyes-bullish-shift-in-ethereum/
Republican Senator Ted Cruz from Texas has announced that he purchased three application-specific integrated circuit (ASIC) bitcoin miners. “I just bought 3 Bitcoin miners that started hashing today in Iraan, TX,” the Senator stated on X this week. “I’m proud to join the ranks of Texas bitcoin miners,” he added. Cruz is an ardent advocate […]
https://news.bitcoin.com/senator-ted-cruz-acquires-3-bitcoin-asic-miners-begins-hashing-in-texas/
UBS has raised its gold price forecast from rising central bank demand and geopolitical tensions. Meanwhile, the meme coin TRUMP surged over 30% in 24 hours after former President Trump’s appearance at the Libertarian National Convention, marking a 98,352.40% increase over the last year. President Biden faces a deadline to veto or sign a resolution […]
https://news.bitcoin.com/ubs-raises-gold-price-targets-trump-coin-hits-all-time-high-and-more-week-in-review/
In May, cybercriminals were less successful in their attacks on decentralized platforms, resulting in losses attributed to hacks and fraud incidents amounting to approximately $52.4 million. During the same period last year, digital assets worth $59.3 million were lost to similar attacks. Gala Games, which incurred a loss of $21 million, and Sonnefinance with $20 […]
https://news.bitcoin.com/study-crypto-losses-28-lower-in-may-attackers-primarily-targeting-defi-platforms/
Bitcoin, the pioneer of blockchain technology, has faced challenges as its adoption has grown. With its original design allowing only seven transactions per second, the network often struggles with scalability, leading to high fees and slower transaction times. To address these issues, Bitcoin layer two (L2) solutions have emerged. These projects aim to enhance the […]
https://news.bitcoin.com/an-introduction-to-bitcoin-layer-two-solutions/
Former U.S. President and presidential candidate Donald Trump’s crypto portfolio now exceeds $14 million, according to Arkham Intelligence’s onchain tracking tool. His crypto holdings include a significant amount of meme coins, which were airdropped to him by various developers. Trump has been convicted of 34 felony counts related to falsifying business records, marking the first […]
https://news.bitcoin.com/donald-trumps-crypto-portfolio-tops-14m-post-conviction-meme-coin-holdings-soar-says-arkham/
The bankruptcy proceedings of Bittrex Inc. involved a legal dispute over claims filed by Azim Ghader, who sought recovery for lost profits and damages after his cryptocurrency was frozen on the Bittrex exchange in 2017. The United States Bankruptcy Court for the District of Delaware found that Bittrex had complied with legal requirements and upheld […]
https://news.bitcoin.com/bankruptcy-court-backs-bittrex-in-cryptocurrency-freeze-dispute/
Following President Joe Biden’s veto of the resolution to overturn the U.S. Securities and Exchange Commission (SEC)’s controversial crypto rules in SAB 121, U.S. lawmakers in both the Senate and House of Representatives have intensified their efforts to pass the landmark crypto bill, the Financial Innovation and Technology for the 21st Century (FIT21) Act. ‘Senate […]
https://news.bitcoin.com/senate-urged-to-pass-landmark-crypto-bill-after-biden-vetoes-resolution-to-overturn-sec-rules/
After two consecutive months of record-breaking revenue, bitcoin miners experienced a significant downturn in earnings in May, a level not seen since October 2023. In April, miners generated $1.79 billion, whereas May’s figures show a considerably lower revenue of approximately $964.24 million. Sharp Decline in Bitcoin Miner Revenue in May Bitcoin miners generated 46.15% less […]
https://news.bitcoin.com/bitcoin-miners-see-46-15-revenue-drop-in-may-lowest-since-october-2023/
Several reports have indicated that the ex-CEO and founder of Binance, Changpeng Zhao (CZ), has commenced his four-month term at a low-security federal facility in Lompoc, California. CZ Enters Low-Security Facility After Pleading Guilty to Money Laundering Charges Ex-Binance boss Changpeng Zhao (CZ) is now beginning his prison sentence after admitting guilt to charges related […]
https://news.bitcoin.com/ex-binance-ceo-changpeng-zhao-begins-4-month-prison-term-in-california/
Over the past week, non-fungible token (NFT) sales have declined again, slipping 7.03% compared to the previous week. During this period, $122.3 million in sales were recorded, with Ethereum-based NFTs taking the lead. 7-Day NFT Sales Slide 7.03% This week witnessed another seven days of subdued NFT sales, with Ethereum maintaining the lead and Bitcoin […]
https://news.bitcoin.com/nft-sales-dip-again-ethereum-leads-as-market-declines-by-7-03/
The Singaporean crypto exchange Bybit’s affiliate Spark Fintech Limited, has abandoned its pursuit of an operating license in Hong Kong. The affiliate withdrew its virtual asset trading platform application on May 31, exactly four months after submitting it. The decision followed the Hong Kong regulator’s classification of Bybit as an unlicensed entity, accompanied by threats […]
https://news.bitcoin.com/bybit-affiliate-withdraws-hong-kong-vasp-application-months-after-regulator-issued-license-warning/
The Brazilian State Attorney General has dismissed allegations that Johann Steynberg, the late mastermind of a South African bitcoin ponzi scheme, was granted irregular access to a computer and the internet while in prison. Acting public prosecutor Lauro Machado Nogueira recently released a report stating that evidence from prison authorities contradicted these claims. Additionally, Steynberg, […]
https://news.bitcoin.com/report-shows-no-evidence-of-special-treatment-for-btc-ponzi-scheme-mastermind-in-brazilian-jail/
According to Turkish authorities, the country’s law enforcement agencies have disrupted a criminal syndicate that lured unsuspecting residents into investing in a Ponzi scheme disguised as a cryptocurrency investment. The syndicate is reported to have swindled $1 billion from investors who were deceived by the scammers’ promise of high profits and zero risks. During the […]
https://news.bitcoin.com/turkey-detains-127-crypto-ponzi-scheme-co-conspirators-seizes-assets-worth-over-31-million/
Bitmain has announced the release of the Antminer L9, an application-specific integrated circuit (ASIC) miner tailored for coins that use the Scrypt algorithm, such as litecoin and dogecoin. The company reports that this new model provides 16 gigahash per second (GH/s) in hashing power and achieves an energy efficiency of 210 joules per gigahash (J/G). […]
https://news.bitcoin.com/bitmain-launches-antminer-l9-with-enhanced-16-gh-s-capacity-for-scrypt-based-coins/
This weekend, Ethena’s synthetic U.S. dollar stablecoin USDE reached the $3 billion range. As of June 2, 2024, USDE has surpassed First Digital’s FDUSD stablecoin. Ethena’s Synthetic Stablecoin USDE Exceeds $3 Billion Launched in February, the synthetic U.S. dollar stablecoin USDE, which offers yield earnings on holdings, has exceeded the $3 billion threshold. As of […]
https://news.bitcoin.com/ethenas-usde-stablecoin-surpasses-3-billion-flipping-first-digitals-fdusd/
The Wrapped Bitcoin (WBTC) protocol, initiated by Bitgo in 2019, holds the title of the largest BTC derivative project by market capitalization, and to date, no other project has exceeded its scale. Nonetheless, the past few years have seen a significant decline in the number of wrapped bitcoins in circulation, with more than 32% of […]
https://news.bitcoin.com/declining-but-dominant-wbtc-maintains-market-lead-over-btcb-rbtc-lbtc-and-other-derivatives/
With artificial intelligence (AI) seemingly destined to become central to everyday digital applications and services, anchoring AI models on public blockchains potentially helps to “establish a permanent provenance trail,” asserted Michael Heinrich, CEO of 0G Labs. According to Heinrich, such a provenance trail enables “ex-post or real-time monitoring analysis” to detect any tampering, injection of […]
https://news.bitcoin.com/software-engineer-anchoring-ai-on-public-blockchains-aids-in-establishing-a-permanent-provenance-trail/
U.S. Senator for Wyoming Cynthia Lummis has castigated President Joe Biden over his decision to veto a measure that would disapprove the Securities and Exchange Commission’s Staff Accounting Bulletin No. 121 (SAB 121). Lummis said the measure known as H.J. Res. 109, which had bipartisan support in the U.S. Congress, was intended to end the […]
https://news.bitcoin.com/wyoming-senator-cynthia-lummis-castigates-us-president-joe-bidens-veto/
Rashawn Russell, a former investment banker, was sentenced on Thursday to 41 months in prison for a cryptocurrency fraud scheme that caused $1.5 million in investor losses. From November 2020 to August 2022, Russell deceived multiple victims by promising high returns from cryptocurrency investments, only to misappropriate their funds for personal use, gambling, and repaying […]
https://news.bitcoin.com/ex-banker-sentenced-to-41-months-in-us-prison-for-crypto-fraud-scheme/
JPMorgan has predicted an initial negative market reaction for spot ethereum exchange-traded funds (ETFs), expecting lower demand compared to bitcoin ETFs. The global investment bank also cautions that approximately $1 billion may exit the Grayscale Ethereum Trust, putting downward pressure on ether prices shortly after the launch of spot ethereum ETFs. ‘Initial Market Reaction to […]
https://news.bitcoin.com/jpmorgan-predicts-negative-initial-reaction-for-ethereum-etfs-expects-lower-demand-than-bitcoin-etfs/
Cathie Wood’s Ark Investment Management has withdrawn from the race to launch a spot ether exchange-traded fund (ETF), as its name was removed from the application filed with 21shares. The ETF, now renamed 21shares Core Ethereum ETF, reflects Ark’s decision not to pursue the ether ETF at this time. Despite this, Ark remains committed to […]
https://news.bitcoin.com/cathie-woods-ark-invest-halts-spot-ethereum-etf-plans/
Ripple CEO Brad Garlinghouse foresees the emergence of exchange-traded funds (ETFs) for cryptocurrencies beyond bitcoin and ether, following the U.S. Securities and Exchange Commission (SEC) approval of spot bitcoin and ethereum ETFs. At the Consensus 2024 event, he stated: “I think it’s just a matter of time, and it’s inevitable there’s gonna be an XRP […]
https://news.bitcoin.com/ripple-ceo-says-xrp-solana-cardano-etfs-are-inevitable/
The financial services firm Unchained and the University of Texas have partnered to launch a long-term endowment fund in bitcoin (BTC). Joseph Kelly, CEO and co-founder of Unchained, set the ball rolling with a personal donation of two bitcoins. The bitcoin financial services firm also intends to connect UATX faculty and their research with key […]
https://news.bitcoin.com/bitcoin-firm-unchained-partners-with-university-of-texas-to-launch-5-million-bitcoin-endowment-fund/
On Friday, U.S. spot bitcoin exchange-traded funds experienced their 14th consecutive day of inflows, totaling around $50 million. Leading the inflows once more was Blackrock’s IBIT, while Grayscale’s GBTC saw outflows. $1.7B in Trade Volume and $50M in Inflows During Friday’s Bitcoin ETF Trading Sessions Approximately $50 million in inflows were reported during Friday’s spot […]
https://news.bitcoin.com/grayscales-gbtc-and-vanecks-hodl-report-outflows-as-us-bitcoin-etfs-gain-50m/
In recent weeks, Binance and Robinhood observed a modest influx of approximately 1,302 BTC or $88 million in bitcoin, with Robinhood acquiring the majority of these assets. Conversely, Coinbase experienced a noticeable decrease in its bitcoin reserves, witnessing an outflow of 40,406 BTC valued at $2.7 billion in the past two months. Coinbase, Binance, and […]
https://news.bitcoin.com/2-7-billion-reduction-coinbase-records-40406-btc-outflow-in-60-day-period/
Coinbase, Inc. has escalated its dispute with the Securities and Exchange Commission (SEC) by filing a reply brief in the Third Circuit Court of Appeals, arguing the necessity of clear rulemaking for the digital asset industry. The case underscores the ongoing tensions between regulators and the digital asset sector over compliance and operational standards. Coinbase […]
https://news.bitcoin.com/coinbase-challenges-secs-rulemaking-process-argues-for-clear-regulations-on-digital-assets/
Worldcoin, the iris-scanning biometric proof-of-personhood project, announced on Thursday the launch of its operations in Colombia. Via social media, the project reported that eye-scanning operations were already available in Bogota and Medellin, for World ID users. Currently, only ten locations with orbs (iris scanning machines) are available, six in Bogota and four in Medellin. Nonetheless, […]
https://news.bitcoin.com/worldcoin-officially-launches-in-colombia/
The SEC’s Office of Investor Education and Advocacy has issued an alert, highlighting five common crypto scams investors should watch out for to avoid losing money. The SEC warns that fraudsters exploit cryptocurrency popularity with sophisticated techniques, making fund recovery difficult. For example, “Fraudsters may conduct pump-and-dump schemes with crypto assets, including so-called ‘memecoins’ that […]
https://news.bitcoin.com/sec-issues-investor-alert-highlighting-5-common-crypto-scams/