Author: Teererai Mukonavanhu

Article written by Teererai Mukonavanhu

Bitwise acquires ETC Group, expanding into Europe with $4.5B in crypto AUM

August 21, 2024 1 min read

Bitwise, the largest US crypto index fund manager, has acquired London-based ETC Group, a prominent issuer of crypto exchange-traded products (ETPs), marking a significant expansion into the European market. The acquisition adds over $1 billion in assets under management (AUM) to Bitwise’s portfolio, bringing its total AUM to over $4.5 billion. ETC Group, founded in 2019, offers a range of ETPs based on Bitcoin, Ethereum, Solana, and Ripple. Bitwise plans

Over 25,000 Arbitrum DAO participants approve ARB staking proposal

August 16, 2024 1 min read

The Arbitrum Decentralized Autonomous Organization (DAO) has officially ratified a proposal aimed at augmenting the functionality of the ARB token and fortifying the security of governance processes. The proposal, endorsed by 91% of more than 25,000 participants, will enable ARB token holders to stake and delegate their tokens in return for a liquid staked ARB token (stARB). This new currency will serve as a representation of their ownership and allow

Binance introduces ‘Super Earn’ to allows users to earn a Special Annual Percentage Rate (APR)

August 14, 2024 1 min read

Binance, the largest crypto exchange globally, has introduced Binance Super Earn, an innovative program enabling users to earn a Special Annual Percentage Rate (APR) on recently listed tokens. The program seeks to foster the growth and visibility of new initiatives while enhancing user earnings through augmented APR rewards. Users who possess these tokens on Binance will be rewarded through temporary promotions supported by the respective token initiatives. Users can utilize

Venezuelan government blocks Binance, X, Reddit, and Signal amid election unrest

August 14, 2024 1 min read

The Venezuelan government has implemented a digital embargo on prominent online sites, such as the cryptocurrency exchange Binance and the social media network X, as part of a wider effort to suppress digital services. The disturbance, documented on August 12, 2024, is ascribed to the government-controlled internet service provider CANTV. Binance’s website and mobile application became unreachable in Venezuela as a result of a DNS block, which is thought to

Celsius Network Sues Tether for $2 Billion Over Bitcoin Claims

August 11, 2024 1 min read

Celsius Network has initiated legal proceedings against Tether, the issuer of a stablecoin, on the grounds of purportedly engaging in fraudulent and advantageous practices to transfer around $2.4 billion worth of Bitcoin. Paolo Ardoino, the CEO of Celsius Network, has offered a lucid explanation of the matter, affirming that Celsius was among the clients that received USDT from the company. The arrangement entailed the provision of Bitcoin as security in

Analysts believe Bitcoin may have reached a market bottom despite recent volatility

August 6, 2024 1 min read

The fluctuation in the crypto market has sparked conjecture regarding a probable lowest point in the market for Bitcoin and Ethereum, despite substantial volatility undermining investor trust. The recent fluctuations in prices have led to significant liquidations amounting to $1.06 billion, with $901.33 million originating from long positions and $159.41 million from short positions. This substantial decline in value highlights the unpredictable nature of the cryptocurrency markets, causing unease among

Grayscale’s new Bitcoin Mini Trust offers the lowest fees in the US

August 1, 2024 1 min read

Grayscale has released the Bitcoin Mini Trust, a new way to buy that costs less than the Grayscale Bitcoin Trust (GBTC). The trust is a cheaper way to invest in Bitcoin and has been allowed by the US Securities and Exchange Commission (SEC). It is the cheapest Bitcoin exchange-traded product (ETP) in the United States, with an expense ratio of 0.15% when it launched. It did better than newly launched

The US government moves $2 billion in seized Bitcoin after Trump vowed to hold onto government crypto

July 30, 2024 1 min read

The US government moved $2 billion worth of Bitcoin it took from the Silk Road to new addresses. This is in line with former President Donald Trump’s plan to stop selling Bitcoin owned by the government if he wins the election again. The on-chain data from Arkham Intelligence showed that about 28,000 BTC were moved from the DOJ-confiscated funds on the Silk Road to two different accounts. The move has

Bitcoin price surges to $69,297 today, registering a 3.1% increase in 24 hours

July 28, 2024 1 min read

Bitcoin is poised to exceed the $70,000 threshold due to the anticipation of a substantial announcement regarding Bitcoin’s involvement in the United States’ financial policy during Donald Trump’s keynote speech at the Bitcoin 2024 Conference in Nashville. The price of Bitcoin reached its highest point at $69,300, indicating a 3.1% surge within the last 24 hours. Robert F. Kennedy Jr., a contender for the US presidency, proposed the idea that

The State of Michigan Retirement System holds $6.6 million in 21Shares’ ARKB ETF

July 27, 2024 1 min read

The State of Michigan Retirement System has allocated $6.6 million towards its investment in ARKB, a Bitcoin exchange-traded fund operated by 21Shares. The investment constitutes approximately 0.004% of the $143 billion held by the state in its pension fund. It reflects the increasing exposure and acceptance of spot Bitcoin ETFs in the United States. In January 2024, the Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs to be traded.

Grayscale Ethereum ETF sees over $1 billion in outflows since its debut

July 26, 2024 1 min read

Grayscale’s Ethereum ETF (ETHE) lost over $1 billion in three trading days after its conversion, lowering assets under management from $9 billion to $7.4 billion. Inflows were led by BlackRock’s iShares Ethereum Trust (ETHA), which attracted $71 million and followed by Grayscale’s Ethereum Mini Trust (ETH), a spinoff of Ethereum Trust. Fidelity’s Ethereum Fund (FETH), Bitwise’s Ethereum ETF (ETHW), VanEck’s Ethereum ETF (ETHV), and Invesco/Galaxy’s QETH all saw inflows. A

A subsidiary of the Coinbase Group was fined $4.5 million by FCA for onboarding high-risk customers

July 25, 2024 1 min read

The UK’s Coinbase subsidiary, CB Payments Limited (CBPL), has been fined £3.5 million ($4.5 million) by the Financial Conduct Authority (FCA) for multiple violations of anti-money laundering legislation. This is the initial enforcement action carried out by the FCA following the Electronic Money Regulations 2011 against a cryptocurrency company. In October 2020, CBPL voluntarily agreed with the FCA to stop accepting high-risk customers to enhance the firm’s financial crime controls.