BTC

South Korea’s Exchange Chairman plans to introduce crypto-based ETFs this year

January 6, 2025 1 min read

Eun-Bo Jeong, the Chairman of South Korea’s Exchange, has expressed a keen interest in launching crypto-based exchange-traded funds (ETFs) this year, responding to a growing global demand for such financial products. During the Securities and Derivatives Market Opening Ceremony on January 2, Jeong underscored the necessity for innovative financial solutions to rejuvenate South Korea’s capital markets, which have faced significant economic challenges over the past year, including a contracting domestic

Metaplanet wants to increase its Bitcoin holding from 1,762 to 10,000 BTC by 2025

January 6, 2025 1 min read

Metaplanet, a Japan-based venture capital firm, is on a mission to significantly increase its Bitcoin holdings from 1,762 to 10,000 BTC by 2025, as analysts anticipate a bullish trend that could elevate Bitcoin’s price to over $200,000. Following the investment strategies of MicroStrategy, Metaplanet has made 19 purchases totaling approximately $173.4 million. CEO Simon Gerovich emphasized the firm’s commitment to utilizing effective capital market tools to achieve this goal while

$75 billion asset manager ProShares files for Bitcoin ETFs

January 6, 2025 1 min read

ProShares, a leading asset manager with over $75 billion in assets, is seeking approval from the SEC to launch three innovative ETFs: the ProShares S&P 500 Bitcoin ETF, ProShares Nasdaq-100 Bitcoin ETF, and ProShares Gold Bitcoin ETF. These funds aim to track the performance of their respective indices and gold, but with a unique twist—they will measure returns in Bitcoin rather than US dollars. This approach is designed to appeal

Michael Saylor suggests burning Bitcoin keys at death

January 6, 2025 1 min read

Michael Saylor, chairman of MicroStrategy and a staunch advocate for Bitcoin, has proposed a controversial idea: the burning of private keys upon an individual’s death. He argues that this practice would enhance Bitcoin’s scarcity, ultimately benefiting the global community of Bitcoin holders by increasing the value of the remaining supply. In a recent interview, Saylor likened this concept to Bitcoin’s halving process, where mining rewards are reduced every four years

India intensifies crypto scam crackdown by teaming up with Google and Meta

January 5, 2025 1 min read

India is ramping up its fight against crypto-related scams, particularly the rising “pig butchering” frauds, through a partnership with tech giants Google and Meta, as outlined in the Ministry of Home Affairs’ 2024 annual report. These scams, which have reportedly cost investors over $3.6 billion in 2024, primarily target vulnerable populations, including unemployed youth and financially struggling individuals, by promising high returns on crypto investments. Scammers typically use social media

MicroStrategy plans to raise $2 billion to expand its Bitcoin reserves

January 5, 2025 1 min read

MicroStrategy, recognized as the largest corporate holder of Bitcoin, is set to raise $2 billion through a perpetual preferred stock offering, a strategy designed to enhance its Bitcoin reserves while ensuring financial flexibility. This financing method allows the company to issue shares without a maturity date, providing investors with regular dividends and alleviating the pressure of repayment deadlines. The initiative is distinct from previous plans to raise capital through equity

Crypto.com now offers stock and ETF trading in Pennsylvania, Ohio, Washington, and Arizona

January 4, 2025 1 min read

Crypto.com has recently expanded its offerings by launching stock and exchange-traded fund (ETF) trading for users in select U.S. states, including Pennsylvania, Ohio, Washington, and Arizona. Announced on January 2, 2025, this new feature allows users to trade without commission fees, access fractional shares, and transfer securities seamlessly, all within a single app. This integration of traditional finance with digital assets marks a significant step in bridging the gap between

IRS delays new crypto tax cost basis rules to December 2026

January 4, 2025 1 min read

The Internal Revenue Service (IRS) has postponed the implementation of new crypto cost-basis reporting rules, now set to take effect on December 31, 2026, providing brokers with additional time to comply with the complex regulations. Initially scheduled for late 2024, this delay follows requests from brokers and platforms for more time to adapt, offering temporary relief to crypto investors who were scrambling to meet the original deadline. In a recent

Morgan Stanley’s E-Trade considers offering direct crypto trading services

January 4, 2025 1 min read

Morgan Stanley’s E-Trade division is considering introducing direct cryptocurrency trading services, a move that signals a shift in the firm’s strategy towards digital assets. This exploration comes amid expectations of pro-crypto regulatory changes anticipated under Donald Trump’s administration following his recent election victory. Currently, E-Trade provides indirect exposure to cryptocurrencies through investment products, but direct trading would represent a significant evolution in its offerings. Historically, Morgan Stanley has supported Bitcoin,

A California resident files a lawsuit against 3 Asian banks for a crypto scam that cost him nearly $1 million

January 3, 2025 1 min read

Ken Liem, a California resident, has initiated a lawsuit against three Asian banks, alleging negligence in preventing a cryptocurrency scam that resulted in a loss of nearly $1 million. Filed in a California district court on December 31, 2024, the lawsuit claims that Fubon Bank Limited, Chong Hing Bank Limited, and DBS Bank Limited failed to conduct adequate due diligence and implement necessary Know Your Customer (KYC) and Anti-Money Laundering

Marathon Digital CEO Fred Thiel advises investing small monthly amounts in Bitcoin

January 3, 2025 1 min read

Fred Thiel, CEO of Marathon Digital, advocates for a strategy of investing small, consistent amounts in Bitcoin each month, citing its promising long-term growth potential. In a recent Fox Business interview, Thiel expressed optimism for Bitcoin’s future, particularly in 2025, due to rising institutional interest and the possibility of countries holding strategic Bitcoin reserves. While he refrained from giving a specific price prediction, he noted that regulatory advancements and increasing

China enforces stricter rules requiring banks to monitor and report risky crypto transactions

January 2, 2025 1 min read

China has implemented stringent regulations aimed at monitoring and reporting risky foreign exchange and cryptocurrency transactions, as part of its ongoing effort to combat illegal cross-border financial activities. The State Administration of Foreign Exchange (SAFE) has mandated that banks track transactions related to underground banking, cross-border gambling, and illicit crypto activities. This initiative requires banks to scrutinize the identities of individuals and institutions involved, trace the sources of funds, and