News

Ripple secures NY approval for RLUSD stablecoin

December 12, 2024 1 min read

Ripple CEO Brad Garlinghouse said that New York State regulators have approved the company’s first stablecoin, RLUSD. This is an important step as Ripple joins the stablecoin market. The New York State Department of Financial Services (NYSDFS) gave this certification to Ripple. This lets Ripple provide a stable digital currency that seeks to lower the volatility linked to its main asset, XRP. This initiative fits with Ripple’s plan to work

Bitget Token (BGB) surges over 36% and recorded a new all-time high of $3.28

December 12, 2024 1 min read

In a changing global cryptocurrency market, Bitget Token (BGB) has stood out, rising by 36% to reach an all-time high of $3.28. This rally happened even though Bitcoin recently dropped to the $96K range, showing BGB’s strength. BGB is trading at $3.24 and has a market cap of $4.53 billion. Its trading volume increased by more than 109% to $468 million in just 24 hours. The token did well because

Russian lawmaker proposes a Bitcoin reserve to enhance financial stability

December 12, 2024 1 min read

Anton Tkachev, a Deputy in the Russian State Duma, has suggested creating a strategic Bitcoin reserve to improve the country’s financial stability. This plan, shown to Finance Minister Anton Siluanov, highlights Bitcoin’s ability to be a strong asset, protected from international sanctions and inflation issues that affect regular currencies like the dollar, euro, and yuan. Tkachev’s proposal comes at a time when Russia is changing how it regulates cryptocurrency. President

Gold advocate Peter Schiff labels Bitcoin a “national security threat”

December 11, 2024 1 min read

Peter Schiff, a well-known supporter of gold and a critic of Bitcoin, has sparked new conversations about cryptocurrency by calling Bitcoin a “national security threat.” In a recent post on X (formerly Twitter), Schiff said that Bitcoin’s misuse and increasing popularity hurt economic efficiency and waste resources. He said that Bitcoin supporters are corrupting government officials. He believes that private investments in Bitcoin are fine, but using public money for

Bitcoin mining firm MARA spends $1.1 billion for 11,774 BTC

December 11, 2024 1 min read

Marathon Digital Holdings (MARA) has grown its cryptocurrency collection by buying 11,774 BTC for $1.1 billion. Now, it holds a total of 40,435 BTC. MicroStrategy, the biggest public holder of Bitcoin, recently announced that it bought 21,550 BTC for $2.1 billion. MARA recently bought something using money from selling zero-coupon convertible notes, as stated in a recent SEC filing. Public companies are increasingly investing in Bitcoin, and MARA has seen

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