Author: Emma Davis

Article written by Emma Davis

A crypto wallet containing $2 billion worth of Mt. Gox Bitcoin initiates a trial transaction

August 14, 2024 1 min read

A crypto wallet that received $2 billion of bitcoin from defunct exchange Mt. Gox’s trustee initiated a test transaction on Tuesday, possibly to prepare distributing funds to creditors. Arkham Intelligence analysts believe the wallet likely belongs to the crypto custody platform BitGo, one of the five service providers that distribute tokens to creditors. BitGo is the last remaining distribution partner. The test transaction followed a 33,100 BTC transfer two weeks

DBS Bank, Singapore’s largest bank by assets, initiates a pilot program for “DBS Treasury Tokens”

August 14, 2024 1 min read

DBS Bank, the bank with the highest amount of assets in Singapore, has initiated a trial program for “DBS Treasury Tokens” in collaboration with Ant International. The pilot utilizes DBS’s permissioned blockchain to enhance the administration of treasury and liquidity. The pilot project intends to decrease the time it takes to settle transactions inside a group from days to seconds, hence improving liquidity and the management of working capital. DBS’s

Asian countries are tightening crypto regulations while promoting innovation

August 12, 2024 2 mins read

Asia’s bitcoin industry is experiencing substantial changes as countries enforce more stringent laws while simultaneously promoting innovation. India, Thailand, Japan, Hong Kong, and Indonesia are collaborating to establish a more organized and systematic approach to digital assets. The Directorate General of GST Intelligence (DCGI) in India has issued a demand of $86 million to Binance, alleging non-payment of the necessary Goods and Services Tax. According to reports, Binance generated a

Bitcoin (BTC) Surges Past $61,000 but Faces Crucial Test at $60,500

August 10, 2024 1 min read

Bitcoin (BTC) surpassed the $60,000 mark on August 8th and must now maintain the $60,600 level as support on the daily chart to potentially reach $65,000 again. This analysis comes from a trader named Rekt Capital on X. The upward surge was likely initiated by BTC’s pursuit of a CME gap ranging from $59,400 to $62,550. Bitcoin has returned to its weekly trading range of $57,000 to $67,000 and is

Ripple partners with Dubai’s DIFC Innovation Hub to enhance blockchain

August 8, 2024 2 mins read

Ripple Labs has formed a partnership with the DIFC Innovation Hub, which is a part of the Dubai International Financial Centre (DIFC). The purpose of this partnership is to advance the use of blockchain technology and digital assets in the United Arab Emirates (UAE) and the Middle East, Africa, and South Asia (MEASA) area. The DIFC Innovation Hub is the most extensive innovation ecosystem in the region, accommodating more than

Ripple settles with the SEC, agreeing to a $125 million fine

August 8, 2024 1 min read

Ripple Labs has reached a settlement with the SEC, agreeing to pay a penalty of $125 million for selling its XRP token without proper registration. This resolution concludes a legal conflict in which the SEC previously sought penalties amounting to over $2 billion. The settlement is considered a triumph for Ripple, as allegations of fraud were dropped, resulting in a diminished penalty. The SEC initiated a legal action in 2020,

Bitcoin wallets holding between 1,000 and 10,000 BTC increase their holdings

August 6, 2024 1 min read

The price of Bitcoin (BTC) fell to $49,000 throughout the weekend but recovered to around $56,000, eliciting various responses from holders. Bitcoin whales, who are significant holders of assets, took advantage of the opportunity to buy at reduced rates, while small investors dumped their holdings as panic spread. Crypto wallets containing a quantity of Bitcoin (BTC) ranging from 1,000 to 10,000, with an approximate value of $56 million to $560

Bitcoin falls below $58,000 as people fear recession

August 4, 2024 1 min read

Bitcoin (BTC) dropped below $58,000 on Sunday because people were afraid the US economy would go into recession. A weaker-than-expected US jobs report and big crypto moves by Genesis caused the price to drop. In July 2024, the Labor Department reported 114,000 jobs, which was less than the 175,000 jobs that were expected. The jobless rate rose to 4.3%, which was the highest it had been since October 2021. Concerns

Over $50 million enters the US spot Bitcoin ETFs

August 2, 2024 1 min read

Spot Bitcoin ETFs got a lot of money coming in. Grayscale’s Mini BTC Trust ETF got $191 million. At the same time, spot Ether ETFs saw market instability, and Grayscale’s ETH ETF had withdrawals that kept happening. Five-figure sums of money were put into spot Bitcoin ETFs on August 1. Of this amount, $191.1 million went into Grayscale’s small BTC ETF. Bitwise’s BitB lost $20.7 million, Ark 21Shares’ ARKB lost

This Bitcoin Mining Company Loses $199.7 Million in Q2

August 2, 2024 1 min read

In the second quarter of 2024, Marathon Digital’s business lost a total of $199.7 million because of unexpected machine breakdowns and the April bitcoin halving event. Year over year, the company’s sales went up by 78% to $145.1 million. In the Nasdaq trade, MARA shares fell 7.78%. The price of its shares has dropped 20.89% so far this year. In Q2 2024, the company’s total hash rate hit a new

US spot Ethereum ETFs surge with $1.18 billion in inflows, driven by strong performances from BlackRock’s ETHA and Fidelity’s FETH

July 30, 2024 1 min read

For the week ending July 26, 2024, a net of $1.183 billion came into US spot Ethereum exchange-traded funds (ETFs). This does not include Grayscale’s ETHE and ProShares’ EETH. Even though Grayscale’s ETHE lost $1.513 billion and ProShares’ EETH lost $8 million, most funds saw positive gains, which shows that investors are becoming more interested in the Ethereum ETF market as a whole. BlackRock’s ETHA and Fidelity’s FETH were the

Wu Jiezhuang suggests that Bitcoin (BTC) be included in strategic fiscal reserves

July 29, 2024 1 min read

Wu Jiezhuang, a member of the Legislative Council of Hong Kong SAR, has proposed that Bitcoin be included in the country’s strategic budgetary reserves in the future. This suggestion comes in response to Donald Trump’s commitment to establish a national strategic stockpile of Bitcoin. Jiezhuang argues that Bitcoin and Web3 play vital roles in the progress of globalization and suggests that the SAR government should carefully and gradually explore the