BTC

Syria plans to legalize Bitcoin and digitize its currency to stabilize its war-torn economy

January 2, 2025 1 min read

Syria is contemplating the legalization of Bitcoin and the digitization of the Syrian pound as part of a strategic initiative to rejuvenate its struggling economy and attract foreign investments. Proposed by the Syrian Center for Economic Research (SCER), this plan aims to combat economic instability, rampant inflation, and financial exclusion through the adoption of blockchain technology and cryptocurrencies. The country has faced a severe economic downturn, with a reported 60%

If Floki Inu Was Your Missed Shot, BTFD Coin Could Be Your Second Chance at Meme Coin Success

January 2, 2025 5 mins read

The world of meme coins is unpredictable, fast-paced, and, let’s face it, downright thrilling. Among the standout names is Floki Inu, a project that took inspiration from Elon Musk’s Shiba Inu and transformed into a phenomenon. Floki Inu quickly gained traction, bringing together a loyal community and delivering impressive returns for early backers. But if you missed Floki Inu’s meteoric rise, don’t despair—crypto is a market of endless opportunities. Today,

The IRS offers temporary tax relief for CeFi crypto users in 2025

January 2, 2025 1 min read

In a significant move to alleviate the tax burden on cryptocurrency holders using centralized exchanges (CeFi), the IRS has announced a temporary measure for the year 2025. From January 1 to December 31, taxpayers will have the option to utilize personal records or crypto tax software to select specific asset units for tax purposes, diverging from the traditional First-In, First-Out (FIFO) method. This change is particularly beneficial during bull markets,

Do Kwon, the co-founder of Terraform Labs, was extradited from Montenegro to the US

January 1, 2025 1 min read

Do Kwon, the co-founder of Terraform Labs, has been extradited from Montenegro to the United States, concluding a protracted legal battle. Kwon was apprehended in March 2023 for attempting to travel with a counterfeit passport and subsequently fought extradition, seeking to return to South Korea instead. However, Montenegrin authorities denied his appeals, leading to his transfer to US officials at Podgorica International Airport on December 31. Kwon faces serious charges

A Hong Kong lawmaker proposes adding Bitcoin to the region’s fiscal reserves

January 1, 2025 1 min read

Wu Jiexhuang, a member of Hong Kong’s legislative council, has suggested adding Bitcoin (BTC) to the region’s fiscal reserves to improve financial security and boost the local cryptocurrency industry. He suggests using some of Hong Kong‘s foreign exchange funds to buy BTC for long-term holding. This could help strengthen the city’s position as a global financial center and bring in extra revenue from transaction stamp taxes. Jiexhuang thinks that if

The infamous Blockchain Bandit resurfaces after 5 years, moving $172 million in Ethereum

January 1, 2025 1 min read

A figure known as the “Blockchain Bandit” is back after five years, moving 51,000 ETH worth about $172 million from ten inactive wallets to a multi-signature wallet. The sudden transfer of funds, which have been inactive since 2018, has raised concerns among cybersecurity experts. They think it might suggest plans for liquidation, laundering, or new cyber attacks. The Blockchain Bandit became well-known in 2018 for taking advantage of Ethereum wallets

BlackRock’s IBIT Bitcoin ETF sets records as the fastest-growing ETF in history

January 1, 2025 1 min read

BlackRock’s IBIT Bitcoin ETF has gained attention in the financial world since it started in early 2024, after getting the green light from the SEC. It has grown rapidly, quickly overtaking older ETFs in both speed and total assets. On its first day, IBIT saw more than $425 million in options trading, creating a new benchmark for market interest. It has a low expense ratio of 0.25% and is expected

Bitcoin (BTC) drops to its lowest price since December 5

December 31, 2024 1 min read

Bitcoin (BTC) dropped by 2% in the last 24 hours, now at $91,800, a price last reached on December 5, when it went over $100,000 for the first time. This drop is more than 14% lower than the record high of $108,278 on December 17. Ether (ETH) has dropped by 0.7%, now costing $3,320. This is 17% lower than its peak in December and still below its highest price of

USDT stablecoin issuer Tether buys 7,629 BTC worth $705 million

December 31, 2024 1 min read

Tether, the issuer of the USDT stablecoin, has significantly increased its Bitcoin holdings by acquiring 7,629 BTC, valued at approximately $705 million. This acquisition raises Tether’s total Bitcoin holdings to 82,983 BTC, worth around $7.68 billion, making it the sixth-largest Bitcoin holder globally. This move aligns with Tether’s strategy to allocate 15% of its profits towards Bitcoin purchases, a plan initiated in May 2023, as part of their broader effort

Bitcoin loses the $95,000 price level and is trading below $93,600

December 31, 2024 1 min read

The cryptocurrency market is seeing big price drops, especially with Bitcoin (BTC) and other altcoins. Currently, Bitcoin is priced at $92,492.56, showing a 2% drop in the last 24 hours. Bitcoin hit a daily high of $95,110, then quickly fell to $92,234 before bouncing back a bit. Even with the recent ups and downs, Bitcoin has had a great year, hitting all-time highs in March and December, going over $100,000.

NYDIG to expand its Bitcoin offering through float financing

December 31, 2024 1 min read

NYDIG, a subsidiary of Stone Ridge, is set to enhance its Bitcoin-backed loan offerings through float financing, as outlined in the firm’s 2024 investor letter. The letter addresses common criticisms regarding Bitcoin’s utility, asserting that it can generate cash flow and serve as collateral for fiat loans. Float, a crucial concept in insurance and asset management, refers to the investable capital from premium payments or reserves. Stone Ridge’s Longtail Re

Christian Lindner urges the ECB and Bundesbank to add Bitcoin to reserves

December 31, 2024 1 min read

Christian Lindner, the ex-finance minister of Germany, has urged the European Central Bank (ECB) and the Bundesbank to think about adding Bitcoin to their reserves. He commended the Trump administration’s crypto policies in the U.S. as forward-thinking and highlighted the importance for Europe to stay aligned with the global move towards digital assets. Lindner pointed out in a parliamentary meeting that cryptocurrencies are becoming more important. He said they are