Binance.US wins court approval to invest $40 million of customer funds in US Treasury Bills under strict conditions

1 min read

Binance.US has received judicial clearance to allocate customer fiat cash for investment in US Treasury bills. The court ruling grants permission for the exchange to allocate about $40 million for investment purposes. This will be done by investing $10 million on a weekly basis over a period of four weeks using a TreasuryDirect account. The funds, presently located at BitGo, need to be transferred to an autonomous third-party custodian in

The Winklevoss twins donate $1 million in Bitcoin (BTC) to John Deaton’s campaign

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Republican candidate John Deaton, who is competing against Senator Elizabeth Warren in Massachusetts, has received a $1 million Bitcoin donation from the Winklevoss twins, Tyler and Cameron. Tyler censured Warren, labeling her as the primary adversary of cryptocurrencies, while Cameron commended Deaton for being supportive of Bitcoin and cryptocurrencies. The twins’ endorsement is a component of a wider endeavor by the crypto community to back candidates who are in favor

SEC Chair Gensler Warns of Crypto Risks: What It Means for Investors

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Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), recently released a cautionary statement on social media regarding cryptocurrencies. He specifically drew attention to the growing popularity of meme coins such as Dogecoin, Shiba Inu, and PEPE, which are sponsored by celebrities. Gensler questioned the SEC’s intentional tactic of issuing warnings during important crypto legislative discussions in Congress. Gensler’s position has provoked criticism from the crypto industry,

Over $53 million daily net inflow was recorded into the US spot Bitcoin ETFs

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Eleven US spot bitcoin exchange-traded funds received a total of $53.35 million in daily net inflows on Wednesday, extending their positive streak to nine consecutive days. BlackRock’s IBIT experienced the highest net inflows of the day, totaling $110.37 million. The Bitcoin ETF with the greatest net asset value had a transaction volume of $1.21 billion. Fidelity’s FBTC experienced the most significant increase in net funds, amounting to $2.83 million. BITB,

Major Security Breach at Indian Crypto Exchange WazirX: Over $235 Million Stolen

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In a major security incident, Indian cryptocurrency exchange WazirX fell victim to a hack that resulted in the theft of around $235 million worth of various digital assets. The breach, which occurred on July 18th, 2024, targeted WazirX’s multisig wallet on the Ethereum network. Investigators believe the stolen funds were moved to a new address and then partially converted to Ethereum using the Tornado Cash mixing service, a tool often

Vitalik Buterin urges the crypto community to support politicians who uphold decentralization

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Vitalik Buterin, co-founder of Ethereum, has voiced reservations over the political strategy of the crypto movement. He argues that just endorsing candidates based only on their support for crypto is insufficient. He stressed the need for political candidates to endorse overarching principles such as decentralization, privacy, and technological freedom. He also cautioned against the potential long-term dangers of limiting the criteria for supporting political politicians. Buterin criticized the increasing tendency

Mt. Gox’s recent Bitcoin transactions spark fears among investors

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Reports indicate that Mt. Gox, a cryptocurrency exchange located in Tokyo, has recently moved 48,641 bitcoins, leading to concerns regarding its potential repayment to creditors. Ki Young Ju, the CEO of CryptoQuant, has the belief that the fear and uncertainties surrounding the repayment of Bitcoin are overstated. He states that the increase of Bitcoin’s market capitalization is surpassing the growth of its realized capitalization, suggesting a strong demand. Although $224

Bitcoin mining profitability is at historic lows despite high trading values

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The operational efficiency of Bitcoin mining is being hindered by the rapid increase in the network’s hashrate, which has reached 635 exahashes per second (EH/s), resulting in heightened competition. Since November 2021, the hashrate, which represents the computational capacity required for transactions on proof-of-work blockchains, has increased by over thrice, coinciding with a period when Bitcoin’s price was comparable. As of July 16, the “hash price” has dropped to $51.13,

Bitcoin ETFs see a $300 million inflow over seven days

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On July 15th, 2024, the total net inflow of $301 million was recorded for all 11 US spot Bitcoin ETFs, marking their continuous run of seven days. The iShares Bitcoin Trust (IBIT) from BlackRock had the highest net inflow of $117.25 million, making it the most actively traded Bitcoin ETF on that particular day. ARK Invest and 21Shares’ ARKB experienced net inflows of $117.19 million, demonstrating significant interest from institutional

Kraken to start distributing BTC and Bitcoin Cash funds from the Mt. Gox Trustee

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Kraken exchange has obtained monies from the Mt. Gox Trustee and intends to disburse them to creditors within a timeframe of 7-14 days. This development represents a crucial milestone in addressing the Mt. Gox cyberattack, which had a profound effect on the cryptocurrency market and prompted the implementation of more robust security protocols. Kraken’s acceptance of Bitcoin and Bitcoin Cash is a crucial milestone in addressing a major event in

Mt. Gox BTC Transfer Impact: Will the Market Stay Strong? Discover Which Cryptos to Buy Today

4 mins read

The crypto market is calm, waiting for the next bull run. Altcoins still offer a good entry point, yet they are beginning to rise and could explode soon. Amid this backdrop, the impact of the Mt. Gox BTC transfer looms large. With uncertainty in the air, many wonder if the market will stay strong. This article delves into which cryptocurrencies show promise and may be poised for growth. The unfolding

This whale moves nearly $60 million in BTC after 12 Years of dormancy

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A bitcoin whale has transferred 1,000 BTC from a Bitcoin wallet that has been inactive for almost 12 years. The wallet, acquired in September 2012, currently holds a value over $64 million, representing a remarkable growth of 530,000%. Whale Alert, a cryptocurrency monitoring tool, has observed that the wallet has received little and insignificant quantities of Bitcoin on several occasions throughout the past 12 years. However, these transactions seem to