Crypto News

A U.S. court nullifies Tornado Cash sanctions

November 27, 2024 1 min read

A U.S. federal appeals court has invalidated sanctions against Tornado Cash, a crypto-mixing service, ruling that its immutable smart contracts cannot be classified as property. The Fifth Circuit Court of Appeals’ decision is a significant win for decentralization and privacy advocates, but it has reignited discussions on regulating blockchain tools often linked to illegal activities. The Treasury’s OFAC imposed sanctions on Tornado Cash in 2022, accusing it of facilitating money laundering

Elon Musk’s recent Dogecoin-themed meme raised questions about potential market manipulation

November 26, 2024 2 mins read

Elon Musk’s recent social media posts referencing “D.O.G.E.” have once again raised questions about his influence on Dogecoin (DOGE). A recent tweet mentioning the “Department of Government Efficiency (D.O.G.E.)” caused a brief spike in DOGE’s price, even though Musk’s reference was tied to a political project rather than the cryptocurrency itself. This pattern has led to speculation over whether Musk intentionally impacts the meme coin’s value through his posts. Musk

WisdomTree has filed for a Delaware trust to launch an XRP ETF

November 26, 2024 1 min read

Global asset manager WisdomTree has made a significant move toward creating an exchange-traded fund (ETF) for XRP by filing for a Delaware trust, a preliminary step before seeking approval from the U.S. Securities and Exchange Commission (SEC). If successful, the ETF would track the market performance of XRP, currently the sixth-largest cryptocurrency by market capitalization. WisdomTree joins other asset managers, such as Bitwise and Canary Capital, in the race to

Rumble is investing $20 million in Bitcoin to hedge against inflation

November 26, 2024 2 mins read

Rumble, a video-sharing and cloud services platform, has announced a dual focus on cryptocurrency and gaming, positioning itself as a trailblazer in these fast-growing sectors. The company plans to allocate up to $20 million of its cash reserves to Bitcoin as part of a strategy to hedge against inflation and store long-term value. This decision aligns with trends seen among major corporations like MicroStrategy, which have adopted Bitcoin as a

FTX plans to start reimbursing creditors by January 2025

November 25, 2024 1 min read

FTX, the bankrupt cryptocurrency exchange, has announced its reorganization plan will take effect in January 2025, prioritizing creditor reimbursement, particularly for overseas clients. The company aims to finalize agreements with fund distributors by December 2024, enabling payouts early next year. CEO John J. Ray III emphasized FTX’s commitment to returning funds to customers quickly. However, creditors are expected to recover only 10-25% of their losses, sparking frustration among those impacted

BlackRock’s Bitcoin ETF Options Debut with $2 Billion Exposure

November 21, 2024 1 min read

BlackRock’s Bitcoin ETF (IBIT) options launched with unprecedented success, amassing nearly $2 billion in notional exposure on their first day. Analysts highlighted the trading of 354,000 contracts, with a call-to-put ratio of 4.4:1, attributing this surge to Bitcoin’s recent rally to all-time highs. The introduction of IBIT options marks a pivotal moment for institutional adoption of Bitcoin, providing regulated avenues for hedging, speculation, and passive income generation. Options allow traders

Bitcoin surpasses $97K, nearing $100K

November 21, 2024 1 min read

Bitcoin (BTC) has surged past $97,500, nearing the $100,000 milestone, driven by a pro-crypto U.S. government and renewed market optimism. This rally, dubbed the “Trump trade,” gained momentum after the Republican election victory and Federal Reserve rate cuts, boosting risk appetite across asset classes. BTC’s 30% rise over 14 days has brought its market capitalization close to $2 trillion. Institutional interest has further fueled the rally, with BlackRock’s IBIT options—tracking

The chance of Bitcoin reaching $100,000 by year’s end surges to 72%

November 20, 2024 1 min read

The likelihood of Bitcoin (BTC) reaching $100,000 by the end of 2024 has surged to 72% on Polymarket, a prediction platform. This optimism stems from growing institutional interest, improving macroeconomic conditions, and anticipation around regulatory advancements, especially in the U.S. Key drivers of Bitcoin’s rally include declining inflation and lower interest rate expectations, which have boosted investor confidence. Speculation about the approval of a spot Bitcoin exchange-traded fund (ETF) is

Metaplanet to raise over $11.7 million in bonds to buy Bitcoin (BTC)

November 19, 2024 1 min read

Japan-based Metaplanet, listed on the Tokyo Stock Exchange, has announced plans to deepen its Bitcoin (BTC) investments. On November 18, the company revealed it would issue ¥1.75 billion (approximately $11.7 million) in one-year bonds at a 0.36% interest rate to fund additional BTC purchases. Already holding over 1,000 BTC, Metaplanet aims to cement its position as a leading Bitcoin treasury in Japan. Often compared to U.S.-based MicroStrategy for its aggressive

Key details from MicroStrategy’s recent Bitcoin acquisition

November 18, 2024 1 min read

MicroStrategy has announced a significant Bitcoin (BTC) acquisition, purchasing 51,780 BTC between November 11 and November 17, 2024. This move highlights the company’s steadfast commitment to its Bitcoin-focused strategy, championed by Executive Chairman Michael Saylor. The purchase was funded through MicroStrategy’s At-the-Market (ATM) program, which involves issuing and selling shares to raise capital. To date, the company has utilized $5.7 billion of the program’s $21 billion total, leaving $15.3 billion

Base, Coinbase’s Layer-2 network, celebrates 1 billion transactions

November 18, 2024 1 min read

Base, Coinbase‘s Ethereum (ETH) Layer-2 network, has reached an impressive milestone of 1 billion transactions just over a year after its launch in August 2023. This achievement highlights Base’s rapid growth, surpassing networks like Bitcoin, which took over 15 years to hit similar transaction numbers. Base now ranks as the second most popular blockchain of 2024, outperforming competitors such as Optimism and Arbitrum, and has seen interest surge ninefold compared

Ripple CEO Brad Garlinghouse credits Trump’s policies for unlocking billions in crypto value

November 18, 2024 1 min read

Ripple CEO Brad Garlinghouse is optimistic about the cryptocurrency industry’s future, citing recent U.S. political developments as catalysts for growth. In a recent interview, he highlighted how pro-business policies, particularly under a potential second Trump presidency, could create opportunities for the sector. Garlinghouse noted significant growth in U.S.-based crypto assets, including Ripple’s XRP, since the election, driven by increased investor confidence and prospects for regulatory reform. He pointed to the