Browsing:Bitcoin

Ark Invest Sells Coinbase and GBTC Shares Amid Bitcoin's Rising Value
7 months ago 1 min read

Ark Invest Unloads Coinbase and Grayscale Bitcoin Trust (GBTC) Holdings Amid Bitcoin Surge

Cathie Wood’s Ark Invest recently made some moves in the crypto space, selling a portion of its shares in Coinbase and the Grayscale Bitcoin Trust (GBTC). On Monday, Ark Invest sold 42,613 shares of Coinbase and 100,739 shares of GBTC. The sales were worth approximately $5.8 million, based on the closing prices of Coinbase and GBTC on that day. This decision to offload shares came amidst a positive surge in both Coinbase and GBTC’s prices, as well as the broader crypto market. The crypto market has been experiencing a rally, with Bitcoin leading the way. On Monday night, Bitcoin reached

Bitcoin surged to over $35,000
7 months ago 1 min read

Bitcoin surges above $35,000 as spot ETF buzzes up

Bitcoin, the world’s leading cryptocurrency, is making headlines once again as it surged past the $35,000 mark. This exciting price movement is generating significant buzz, and there are a few key reasons behind it. As of Tuesday morning in Asia, Bitcoin was trading at $34,883, experiencing an impressive 14.8% surge over the past 24 hours and reaching a high of $35,066, a level it hasn’t seen since May 2022. This uptrend has contributed to Bitcoin’s weekly gain of 22.8%, delighting crypto enthusiasts and investors alike. The primary driver of this recent Bitcoin rally is the growing anticipation surrounding the potential

BlackRock has achieved a milestone
7 months ago 1 min read

BlackRock’s iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation)

BlackRock, one of the world’s leading asset management companies, has achieved a significant milestone. Its iShares Bitcoin Trust has been officially listed on the Depository Trust & Clearing Corporation (DTCC). This development marks a crucial step in the broader adoption of Bitcoin-related financial products within traditional investment systems. The Depository Trust & Clearing Corporation, or DTCC, is a central clearing and settlement service provider that plays a pivotal role in the U.S. financial markets. It’s responsible for processing and clearing a vast array of financial transactions, ensuring the smooth operation of stock and securities trading. In essence, it’s a fundamental

Canaan Inc
7 months ago 3 mins read

Canaan Inc. to Illuminate Blockchain Life 2023 Forum with Cutting-Edge Insights and Innovations

DUBAI — 23 October 2023 — Canaan Inc., a global leader in the blockchain technology industry, is gearing up to make a significant impact at the prestigious Blockchain Life 2023 Forum, set to take place on October 24–25, 2023, in the dynamic city of Dubai at the Festival Arena. The Blockchain Life 2023 Forum is a convergence of the brightest minds and pioneers in the world of blockchain technology, and Canaan Inc. is delighted to be part of this enlightening event. As a company deeply committed to pushing the boundaries of blockchain technology and its applications, Canaan Inc. is excited to share its

Bitcoin surged past the $30K mark on CoinMarketCap
7 months ago 1 min read

Bitcoin Breaks $30,000 After Rollercoaster Ride

Bitcoin surged past the $30,000 mark on CoinMarketCap. This comes after the surge that was triggered by some misleading news reports that claimed the U.S. Securities and Exchange Commission (SEC) had given the green light to BlackRock’s iShares Bitcoin exchange-traded fund (ETF) application. BlackRock promptly set the record straight, stating that their ETF application was still under review. That’s when reality hit, and Bitcoin’s price took a tumble, dropping below $27,000. Now, despite this rollercoaster ride, the crypto world is buzzing with anticipation. The possible approval of a spot-based Bitcoin ETF in the U.S. has the crypto community talking. Many

Tesla has continued to uphold its Bitcoin holdings in the third quarter (Q3) of 2023
7 months ago 1 min read

Tesla still holds $184 million in Bitcoin in Q3 report

Tesla has continued to uphold its Bitcoin holdings in the third quarter (Q3) of 2023, marking its fifth consecutive quarter without any changes to its digital asset investments. According to Tesla’s Q3 2023 financial results, released on October 18, the EV manufacturer company retained around $184 million worth of digital assets as of September 30. This amount is a fraction of the $1.5 billion worth of BTC that Tesla initially acquired in March 2021. The latest quarterly results affirm that Tesla neither purchased nor sold any Bitcoin during this period. It’s important to note that the previous year witnessed a

China's electric vehicle (EV) manufacturer, BYD
7 months ago 3 mins read

This company is the top electric car maker in the world, not Tesla: but will they accept crypto

China’s electric vehicle (EV) manufacturer, BYD, is gaining ground on its American rival, Tesla, as it surpasses Tesla in quarterly production and becomes the world’s second-largest producer of EVs. The success of BYD is a reflection of China’s growing auto industry and the shift towards cleaner technology. It also highlights the challenges faced by Western countries trying to reduce their reliance on Chinese goods. BYD’s journey began as a battery company before it entered the EV market. The company’s CEO, Wang Chuanfu, co-founded BYD in 1995 after earning degrees in engineering and metallurgy. They initially gained recognition for producing rechargeable

The U.S. Securities and Exchange Commission (SEC) has decided not to pursue an appeal in Grayscale's case regarding a spot Bitcoin Exchange-Traded Fund (ETF).
7 months ago 1 min read

The US SEC Chooses Not to Appeal Grayscale’s Spot Bitcoin ETF Decision

The U.S. Securities and Exchange Commission (SEC) has decided not to pursue an appeal in Grayscale’s case regarding a spot Bitcoin Exchange-Traded Fund (ETF). This decision by the US SEC brings an interesting twist to the ongoing saga of cryptocurrency-based ETFs. The story began when Grayscale, a crypto investment firm, submitted an application to the SEC, seeking approval to transform its Bitcoin Trust into a spot Bitcoin ETF. However, the US SEC responded by denying Grayscale’s request, citing regulatory concerns. Unhappy with the SEC’s decision, Grayscale took the issue to court, sparking a legal battle. After a period of deliberation,

Bitcoin Stuck at $28,000: What's Next for BTC?
7 months ago 1 min read

Bitcoin Stuck at $28,000: What’s Next for BTC?

The upward march of Bitcoin’s (BTC) price encountered a roadblock last week, as it failed to secure a close above the $28,000 mark. Since reaching a peak of $28,580 on October 2, the world’s leading cryptocurrency has been navigating within a horizontal trading range. Now, the question on everyone’s mind is, where does Bitcoin go from here? The analysis of the weekly timeframe provides insights into Bitcoin’s recent price movements. Starting from the week of September 11th, the cryptocurrency embarked on an upward trajectory. During this ascent, it solidified the $25,300 level as a dependable support, demonstrating its resilience. Two

Bitmain
7 months ago 1 min read

Big Bitcoin Mining Company Struggles with Finances

Bitmain, the global leader in Bitcoin mining machine manufacturing, has made a surprising announcement. The company has suspended the September salaries of some of its employees due to a lack of positive cash flow. This unexpected development has raised eyebrows in the cryptocurrency industry and comes on the heels of Bitmain’s recent product launch in Hong Kong, where they unveiled the S21 Bitcoin mining device. Multiple internal sources have confirmed the authenticity of Bitmain’s announcement, which was made on October 3rd. This move to withhold salaries underscores the financial challenges the company is currently facing. The timing of this news

A Bitcoin Whale with $137 Million Stirs and Starts Moving Coins
7 months ago 2 mins read

Bitcoin Whale Holding $137 Million in Crypto Assets Resurfaces

A Bitcoin whale, known by its address 1LH1dY…yuztTz, has stirred from its slumber with an unexpected and significant move. This mysterious entity had been dormant for three years until today, when it executed a noteworthy transfer involving 5,000 BTC, valued at around $137 million. In this intriguing transaction, the Bitcoin whale directed 4,000 BTC to a fresh address, denoted as bc1q5r…40g22c, while the remaining 1,000 BTC found a new home in yet another address, labeled as 34aed6…byHr8D. Notably, neither of these addresses had any previous history or ownership associated with them. The story of this Bitcoin movement traces back to

Crypto Mining in Kazakhstan Under Threat Due to Rising Energy Prices
7 months ago 2 mins read

Kazakhstan’s Crypto Miners Facing Crisis Amid Soaring Energy Costs

Kazakhstan, known as the world’s third-largest Bitcoin mining hub in terms of hash rate, is currently grappling with a severe crisis in its crypto mining sector, largely attributed to skyrocketing energy expenses. In a notable development, eight prominent cryptocurrency mining companies, including industry players such as BCD Company, TT TECH Limited, KZ Systems, AI Solutions, Green Power Solution, VerCom, and Kinur Invest, have penned an open letter addressed to President Kassym-Jomart Tokayev. In this heartfelt letter, these leaders within the crypto mining realm shed light on the dire circumstances faced by the Kazakh crypto mining community due to exorbitant energy

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