Crypto News

Bitcoin miner MARA buys $100 million worth of bitcoin (BTC)

July 25, 2024 1 min read

Bitcoin miner MARA has acquired an extra $100 million worth of Bitcoin (BTC). As a result, its balance sheet now has over 20,000 BTC, equivalent to $1.3 billion. This represents roughly 0.1% of the total supply of Bitcoin, which is capped at 21 million units. The company did not disclose the exact timing and average price of the purchases. However, considering the dollar amount and the company’s balance sheet holdings

India to release its cryptocurrency policy by September

July 25, 2024 2 mins read

Economic Affairs Secretary Ajay Seth has stated that India will disclose its view on cryptocurrency policy by September after engaging in consultations with important parties. The policy will be formulated through a comprehensive process, involving the creation of a discussion paper that will outline the key concerns and solicit feedback from multiple stakeholders. The policy will be influenced by the agreement among stakeholders rather than being governed by extensive regulation.

Russian parliament legalizes crypto for international trade and mining

July 25, 2024 1 min read

The Russian parliament has passed a law allowing the use of crypto for international trade and legalizing crypto mining to counteract the effects of Western sanctions and regulatory constraints on Russian banks. The move aims to improve cross-border transactions and bypass trade restrictions, mirroring Venezuela’s use of crypto to evade sanctions. The law introduces a regulatory framework for Digital Financial Assets (DFAs) and Central Bank Digital Currencies (CBDCs), giving the

The Grayscale Ethereum Trust (ETHE) has lost more than $800 million

July 25, 2024 1 min read

The introduction of Ethereum ETFs in the US market has resulted in substantial market changes, with the Grayscale Ethereum Trust (ETHE) losing more than $800 million since its establishment. The inherent unpredictability and intricate nature of crypto ETF launch events resulted in a significant withdrawal of $26.7 million over two days, causing a sharp decline in the price of Ethereum. Although Fidelity’s Ethereum ETF received an investment of $74.5 million

Ethereum (ETH) price falls by over 7%, while the overall crypto market was down nearly 4%

July 25, 2024 1 min read

Ethereum (ETH) declined by over 7% throughout the last 24 hours, while the entire cryptocurrency market decreased by over 4%. This drop is attributed to investors evaluating the consequences of Mt. Gox’s recent transactions and broader economic events. At the time of writing, the value of Ether was around $3,185, reflecting a decrease of 7.9% in the past 24 hours. At the time of writing, the value of Bitcoin had

Anthony Pompliano discusses the SEC’s approval of Ethereum ETFs

July 25, 2024 1 min read

The approval of Ethereum Exchange-Traded Funds (ETFs) by the SEC has generated enthusiasm within the cryptocurrency sector. Anthony Pompliano, the CEO of Professional Capital Management, anticipates that while Ethereum ETFs may not generate as much excitement as Bitcoin ETFs, they will contribute to the wider adoption of cryptocurrencies. Pompliano credited the strong performance of Bitcoin ETFs to the significant amount of money flowing into them, as evidenced by BlackRock’s Bitcoin

Bitcoin (BTC) price still hovers above $66k despite Mt. Gox repayments

July 25, 2024 1 min read

On Wednesday morning, Bitcoin’s trading price surpassed $66,500, as a result of the US government’s actions that caused BTC to be sent to exchanges. The decline to a price of $65,444 on CoinMarketCap occurred as traders responded to the news that the US government had transferred Bitcoin (BTC) to cryptocurrency exchanges. The fact that Bitcoin remains above $66k suggests the possibility of a short-term rebound. Analysts are optimistic about the

Bitstamp plans to distribute Mt. Gox Bitcoin and Bitcoin Cash on July 25

July 24, 2024 1 min read

Bitstamp exchange has received a transfer of Bitcoin (BTC) from defunct crypto exchange Mt. Gox and will commence the process of distributing it to creditors on Thursday. The exchange also holds Bitcoin Cash obtained from the Mt. Gox trustee. This occurs ten years after the Bitcoin exchange crumbled due to a significant hacking event. Former users of the now-closed cryptocurrency exchange can now retrieve their digital possessions. The exchange has

XRP on the Precipice: Price Dips as Community Awaits SEC Meeting Outcome

July 24, 2024 1 min read

The price of XRP is currently hovering in anticipation of a crucial meeting between Ripple Labs and the US Securities and Exchange Commission (SEC) scheduled for July 25th. This follows a period of fluctuation for XRP, which had recently climbed to around $0.62 before pulling back slightly. Ripple CEO Bullish on Resolution: Ripple CEO Brad Garlinghouse has expressed optimism that the long-running legal battle with the SEC may be nearing

BlockFi completes the sale of its FTX claims, enabling final creditor payouts 

July 24, 2024 1 min read

BlockFi, a crypto lending company, has successfully sold its FTX claims, a significant step towards finalizing its bankruptcy process. The sale was completed at a premium to their face value, ensuring a near-term final distribution of 100% to all allowed customers and general unsecured creditors. Mohsin Y. Meghji, BlockFi’s plan administrator, confirmed the transaction in a report to the United States Bankruptcy Court for the District of New Jersey. In

BlackRock’s Ethereum ETF launch sees over $260 million in inflows

July 24, 2024 1 min read

The introduction of spot Ethereum ETFs in the United States has marked a noteworthy achievement for crypto fans and investors. The Ethereum ETF (ETHA) offered by BlackRock attracted the highest amount of new investments, totaling $266.5 million. This resulted in a daily trading volume above $1 billion. The Grayscale Ethereum Trust (ETHE) witnessed substantial outflows amounting to $484.1 million, in contrast to other ETFs which observed a combination of inflows

Kamala Harris is in talks to speak at the Bitcoin conference alongside Trump

July 24, 2024 2 mins read

Kamala Harris, the Vice President of the United States, is now negotiating her participation at the Bitcoin conference. The event already boasts Donald Trump and Robert F. Kennedy Jr. as speakers. The event, slated to take place in Nashville on July 25-27, is expected to be a significant draw. David Bailey, the Chief Executive Officer of Bitcoin Magazine and the organizer of the event, disclosed that discussions are underway with