BTC

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

Bybit exchange to halt operations in Malaysia

December 31, 2024 1 min read

Bybit, a digital asset exchange, has been told by Malaysia’s Securities Commission (SC) to stop its operations in the country because it is accused of operating without proper registration. On December 11, the SC ordered Bybit to shut down all its digital platforms, including its website and mobile apps, within 14 working days. The exchange was told to shut down its Malaysian Telegram support group and stop all ads aimed

MicroStrategy purchases 2,138 BTC for $209M

December 31, 2024 1 min read

Bitcoin’s recent price drop has raised worries for investors about the future of the cryptocurrency market, especially since altcoins usually follow Bitcoin’s lead. Even with this decline, Matrixport has pointed out past trends and other elements that could suggest Bitcoin might bounce back next year. MicroStrategy, a well-known software company, has boosted its Bitcoin holdings to 446,400 BTC after buying 2,138 BTC for $209 million at an average price of

Donald Trump appoints David Sacks as the US crypto czar

December 31, 2024 2 mins read

Donald Trump has recently appointed David Sacks as the US cryptocurrency czar, sparking talks about possible changes in regulations for digital assets. Sacks, a well-known tech entrepreneur who was PayPal’s first COO and started Yammer, is expected to help clarify and guide US cryptocurrency policies. Experts in the crypto industry, like Ryan Chow from Solv Protocol, are hopeful about his appointment. They believe Sacks will push for clearer rules that

Experts remain skeptical about the US adopting Bitcoin as a financial reserve

December 31, 2024 2 mins read

The possibility of the United States using Bitcoin as a financial reserve is uncertain right now, with prediction markets showing a drop in confidence. Experts highlight several political and economic issues that might block this possibility, especially during Donald Trump’s administration. Some people support Bitcoin, thinking it could improve financial stability with traditional reserves like gold, but there are still big challenges ahead. Prediction markets reveal very different views. Polymarket

Michael Saylor hints at another major Bitcoin purchase by MicroStrategy

December 31, 2024 1 min read

Michael Saylor, co-founder of MicroStrategy, has sparked new talk about the company’s possible Bitcoin buys, suggesting another purchase for the eighth week in a row. His recent puzzling social media post about “strange blue lines” on the SaylorTracker portfolio has raised expectations for a big Bitcoin purchase. MicroStrategy is known for buying a lot of Bitcoin, owning more than 192,042 BTC at an estimated cost of $18 billion. This strategy

Hackers target crypto professionals on LinkedIn with fake job offers

December 31, 2024 1 min read

Hackers are targeting crypto professionals on LinkedIn by pretending to be recruiters from well-known companies and using malware to steal victims’ cryptocurrency wallets. Cybercriminals use real tools like video interview platforms and offer fake job opportunities to trick potential victims. LinkedIn has removed over 80 million fake profiles in six months, but it still has a hard time dealing with these clever scams. Security expert Taylor Monahan pointed out how

Bitwise Asset Management files with the SEC to launch the Bitcoin Standard Corporations ETF

December 30, 2024 1 min read

Bitwise Asset Management has submitted a filing to the SEC for the Bitcoin Standard Corporations ETF, which aims to invest in public companies that possess at least 1,000 Bitcoin in their treasuries. The ETF will focus on equity securities of companies that meet specific criteria, including a minimum market capitalization of $100 million and daily liquidity of at least $1 million, while also maintaining a public float below 10%. Unlike

IRS classifies DeFi platforms as brokers under new

December 30, 2024 1 min read

On December 27, 2024, the IRS released a new rule that changes how decentralized finance (DeFi) is viewed by labeling DeFi front-end platforms as brokers, similar to decentralized exchanges (DEXs). New rules require platforms like Uniswap to follow Know Your Customer (KYC) protocols and share detailed transaction data with the IRS, starting in 2027. In the past, DeFi platforms focused on being decentralized and protecting user privacy, but these new

El Salvador’s Bitcoin reserve surpasses 6,000 BTC, valued at $569 million

December 29, 2024 1 min read

El Salvador has achieved a significant milestone by exceeding 6,000 Bitcoin (BTC) in its national reserves. The latest addition on December 29 brought the total to 6,000.77 BTC, worth around $569.3 million. The country’s Bitcoin investments grew by 108.02%, with an average purchase price of $45,450 per coin. The initiative started in September 2021 when President Nayib Bukele announced Bitcoin as legal tender and made the first purchase of 200

BlackRock holds 430,770 shares of its spot Bitcoin ETF IBIT

December 29, 2024 1 min read

BlackRock has raised its stake in its spot Bitcoin exchange-traded fund (ETF), IBIT, owning 430,770 shares worth more than $17 million as of October 31. This figure shows a big increase of 117% from the 198,874 shares reported on July 31 and is over ten times the 43,000 shares noted in the first quarter of the year. The IBIT is included in BlackRock’s Global Allocation Fund, which spreads investments across