Crypto News

Over $1.4 billion worth of crypto long positions were liquidated in the past hour

December 10, 2024 1 min read

The cryptocurrency market experienced a significant downturn on Monday, following a gradual decline over the weekend. Bitcoin (BTC) fell to just above $95,000, marking a 5% decrease within 24 hours, while Ether (ETH) saw a more substantial drop of 10%, settling at $3,590. This decline triggered the liquidation of over $1.4 billion in leveraged derivatives positions, predominantly from bullish investors, indicating a sharp market correction reminiscent of previous volatility seen

Amazon shareholders propose shifting cash reserves to Bitcoin

December 10, 2024 1 min read

Amazon shareholders are advocating for the company to invest a portion of its substantial $88 billion cash reserves in Bitcoin, viewing it as a potential hedge against inflation. This initiative, led by the National Center for Public Policy Research (NCPPR), emphasizes Bitcoin’s historical performance compared to traditional assets like bonds, despite its inherent volatility. The NCPPR argues that the Consumer Price Index (CPI) underrepresents actual inflation, which they estimate to

Justin Sun deposits $119.7M in Ethereum into HTX after Ethereum hit $4,000

December 9, 2024 1 min read

Justin Sun, the founder of Tron, has gained attention for depositing 29,920 ETH, worth $119.7 million, into HTX. This comes as Ethereum’s price surpasses $4,000. Sun made a big investment by buying 392,474 ETH from February to August 2023. He paid an average of $3,027 for each ETH, totaling around $1.19 billion. Right now, Sun’s estimated profit from this investment is $366 million, showing a 30% return. This does not

James Howells battles Newport Council to search a landfill for a lost hard drive holding 8,000 Bitcoin

December 9, 2024 1 min read

James Howells, who lives in Newport, is trying to find a hard drive with 8,000 Bitcoin worth about $800 million that he accidentally threw away in 2013. The Newport City Council has repeatedly denied his attempts to search a local landfill for the drive. They say that once items are thrown away, they belong to the council and cannot be taken back or sold. Howells wants to give 25% of

India partners with DC Wallet and AFC India to boost digital rupee adoption

December 9, 2024 1 min read

DC Wallet has teamed up with AFC India Limited to promote the use of India’s digital rupee, targeting more than 200 million people, especially those without bank access or with limited banking services. This initiative comes after the Reserve Bank of India’s (RBI) successful testing of the digital rupee on Ripple’s XRP ledger, which showed it is secure and can be scaled for wider use. The digital rupee started over

South Korea’s brief martial law declaration plunges stocks and sparks a $34.2B crypto trading surge

December 8, 2024 1 min read

Last Tuesday, South Korea went through a major political change when President Yoon Suk Yeol briefly declared martial law, which surprised many people in the country. The declaration was quickly taken back, but it caused a lot of uncertainty that negatively impacted the stock and cryptocurrency markets. The Kospi index dropped by 2%. Major companies like Samsung and LG Energy Solution saw declines of 1% and 2.8%, respectively. The government

Zero capital gains tax from January for Bitcoin holders in Czech Republic

December 8, 2024 1 min read

On December 6, 2023, the Czech Republic approved a change that will exempt income from cryptoasset transfers from personal taxes. This will start on January 1, 2025. This law lets people exclude this income if their total earnings from these transactions are under CZK 100,000 and if they have held the digital assets for more than three years before selling them. The framework reflects current exemptions for securities but has

Hong Kong moves closer to formalizing its stablecoin regulations

December 8, 2024 1 min read

On December 6, Hong Kong took a significant step towards regulating stablecoins by publishing a bill that outlines a comprehensive framework for issuers and marketers. This move comes as stablecoins gain traction as effective tools for cross-border transactions, with Standard Chartered referring to them as the crypto industry’s “killer app.” The proposed legislation mandates that stablecoin issuers and marketers obtain licenses from the Hong Kong Monetary Authority (HKMA), including those

Australia task force targets non-compliant crypto ATMs to combat criminal exploitation

December 8, 2024 1 min read

The Australian Transaction Reports and Analysis Centre (AUSTRAC) is ramping up its enforcement of Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regulations for crypto ATM providers. On December 6, AUSTRAC highlighted the growing use of crypto ATMs in money laundering and other illicit activities, noting that while Australia has around 400 registered crypto exchanges, only a fraction operate ATMs. This leaves many of the 1,200 crypto ATMs in the country potentially

Crypto market grows in 2024 with many new all-time highs

December 8, 2024 1 min read

The year 2024 marked a pivotal moment for the cryptocurrency market, characterized by significant maturation and increased institutional interest. With a President-elect advocating for the U.S. to become a global crypto hub, the market saw substantial growth as more individuals turned to crypto platforms and exchange-traded funds (ETFs) for investment. This surge in crypto adoption was facilitated by a more favorable regulatory environment, allowing digital currencies to integrate into the

Russian President Vladimir Putin calls Bitcoin “unstoppable”

December 6, 2024 1 min read

Russian President Vladimir Putin has recently recognized the strength of Bitcoin, stating that it cannot be banned. This is an important acknowledgment of cryptocurrency’s potential, especially with the ongoing economic sanctions against Russia. At a forum in Moscow, he pointed out that Bitcoin is decentralized, meaning it can’t be controlled from the outside. He also talked about how it can serve as a model for future payment systems. Putin spoke

Mt. Gox transfers 24,052 BTC after Bitcoin breaks a key milestone

December 6, 2024 1 min read

Bitcoin has recently achieved a significant milestone by surpassing the $100,000 mark, coinciding with a notable transfer of 24,052 BTC by the defunct exchange Mt. Gox to a new wallet. This transaction, valued in the billions, has ignited speculation regarding its intent, with analysts divided on whether it relates to creditor repayments or an internal reallocation of assets. The timing of the transfer, shortly after Bitcoin’s price breakthrough, has raised