Browsing:BTC

KuCoin has reached an agreement with the New York Attorney General (NYAG) to halt all operations in the state.
5 months ago 2 mins read

KuCoin Settles $22 Million Lawsuit with NYAG, Exits New York Operations

KuCoin has reached an agreement with the New York Attorney General (NYAG) to halt all operations in the state. The agreement stems from a lawsuit filed by KuCoin alleging illegal and unregistered sales of securities and commodities. KuCoin is required to pay over $22 million as part of the agreement, with over $16.7 million earmarked for refunds to New York-based users and an additional $5.3 million to the NYAG. The lawsuit, filed in March, accused KuCoin of running a cryptocurrency exchange where users could buy and sell cryptocurrency classified as securities or commodities under New York State law. The agreement

Crypto Analyst Altcoin Sherpa Warns of Short-Term Bitcoin Drops Amid Long-Term Optimism
5 months ago 1 min read

A Crypto Analyst Warns of Short-Term Bitcoin Drops Amid Long-Term Optimism

Altcoin Sherpa, a popular crypto analyst, has issued a warning to Bitcoin investors about the possibility of further price drops. Sherpa took to social media to share insights into current market conditions, predicting that Bitcoin’s price could drop seven more times after the recent drop. The significant drop saw Bitcoin’s price fall below $40,500 on major exchanges, triggering a significant sell-off estimated at $409.8 million. Altcoin Sherpa acknowledged the significance of the drop but remained bullish on Bitcoin’s long-term prospects. While advising investors to brace themselves for further declines in Bitcoin’s price, Altcoin Sherpa emphasized that the current drop is

The past week saw the continuation of positive investment in the landscape of digital assets
5 months ago 1 min read

The crypto market gains over $40 million in a week, with Bitcoin leading

The past week saw the continuation of positive investment trends in the ever-changing landscape of digital assets, with a total inflow of $43 million. This sustained 11-week trend, while demonstrating resilience, represents a slight decrease from previous weeks. Notably, the market saw a shift toward short positions, indicating investor apprehension in the face of rising prices and potential market uncertainties. Bitcoin continues to be a dominant force, attracting $20 million in the last week and adding to its impressive year-to-date total of $1.7 billion. However, the report reveals an intriguing dynamic in which short positions on Bitcoin increased by $8.6

BlackRock has issued a warning to the US Securities and Exchange Commission (SEC) about Bitcoin's potential classification as a security.
5 months ago 1 min read

BlackRock warns the US SEC about Bitcoin’s potential classification as a security

BlackRock, the world’s largest asset manager, has issued a warning to the US Securities and Exchange Commission (SEC) about Bitcoin’s potential classification as a security. The asset manager emphasized the potential consequences, stating that such a classification could make trading and handling Bitcoin in the United States difficult. BlackRock is concerned about the potential negative impact on Bitcoin’s trading value if it is classified as a security by the SEC. Drawing parallels to the SEC’s legal actions against Ripple, BlackRock stated that the market value of XRP dropped from $100 billion to $10 billion as a result of regulatory scrutiny

Google has announced changes to its crypto advertisements policy to improve its advertising standards and protect users
5 months ago 1 min read

Google announces changes to its crypto advertisements policy

Google has announced changes to its crypto advertisements policy to improve its advertising standards and protect users from potential crypto investment risks. These updates are focused on Cryptocurrency Coin Trusts, which are financial instruments that simplify the trading of shares in trusts that hold significant amounts of crypto. The changes are intended to provide users with more reliable information while also protecting them from potential risks associated with crypto investments. The updated policy will go into effect on January 29, 2024, and will specifically target ads promoting cryptocurrency coin trusts in the United States. Advertisers who want to run crypto

BTC dropped by more than 5%
5 months ago 1 min read

Bitcoin plunges by over 5%, dropping below $42,000

The crypto market had a rocky start to the week, with major players such as Bitcoin (BTC) and Ethereum (ETH) dealing with a bearish trend in intraday trading. According to CoinMarketCap, BTC dropped by more than 5%, falling to $41,649 before recovering to $42,510 within a 24-hour period. Over the last day, CoinGlass data revealed a total of $411 million in liquidations, with $357 million linked to long positions in the broader crypto market. The heatmap of liquidations revealed significant liquidations, including over $104 million in Bitcoin and $82 million in Ethereum. Small-cap altcoins were also impacted by market volatility,

John Reed Stark
5 months ago 1 min read

Former SEC Chairman Warns of Binance’s Growing Legal Problems in the Face of DOJ and SEC Probe

Former SEC Internet Enforcement Chief John Reed Stark recently shared his thoughts on Binance, the global cryptocurrency exchange, and its mounting legal problems. His remarks shed light on the intense scrutiny directed at Binance and its former CEO, Changpeng Zhao (CZ) by both the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). Stark emphasized Binance’s extraordinary level of scrutiny, citing DOJ documents that reveal the extent of monitoring and commitments Binance has made. According to Stark, the DOJ’s demands include strict adherence to rules and regulations, which could result in significant costs for the crypto exchange.

VanEck Predicts $2.4 Billion Surge in Bitcoin ETFs and Major Crypto Market Changes in 2024
5 months ago 1 min read

VanEck predicts a $2.4B surge in Bitcoin ETFs in 2024

VanEck, a leading investment firm, predicted a $2.4 billion inflow into Bitcoin exchange-traded funds (ETFs) in early 2024. The forecast is based on the release of the first true Bitcoin ETFs, which have the potential to reshape the crypto market. Because of their resistance to easy government control, investors are increasingly drawn to assets such as Bitcoin. Bitcoin, which is well-known for its resilience and resistance to traditional market trends, is gaining traction as a solid investment. Despite its volatility, experts predict that Bitcoin will remain above $30,000 in early 2024. Furthermore, a possible price increase is expected following a

A team led by Block founder Jack Dorsey has launched a new Bitcoin wallet called Bitkey
5 months ago 2 mins read

Jack Dorsey’s Block Unveils Bitkey: A Self-Custody Bitcoin Wallet for Global Users

A team led by Block founder Jack Dorsey has launched a new self-custody Bitcoin wallet called ‘Bitkey.’ This innovative wallet will be available in over 95 countries, providing users with a safe and simple way to manage their Bitcoin holdings. Bitkey can be accessed via a smartphone app or hardware storage, providing crypto enthusiasts with a flexible and accessible experience. The highlight of Bitkey is its two-of-three multi-signature wallet, which includes a secure hardware device and recovery tools. A server key, a mobile key, and the user’s fingerprint are all included in the wallet. Users will need to use both

JPMorgan CEO Calls for Crypto Ban Amid Senate Hearing as RCMP Targets Drug Traffickers Laundering Proceeds with Cryptocurrency
5 months ago 2 mins read

JPMorgan CEO Calls For Government Shutdown Crypto

Jamie Dimon, CEO of JPMorgan Chase, has reiterated his strong opposition to crypto, specifically advocating for a ban on digital assets such as Bitcoin (BTC). His comments came during a Senate Banking Committee hearing, in response to Senator Elizabeth Warren’s questions. Dimon’s remarks echo his long-held disdain for crypto, emphasizing his concerns about their alleged facilitation of criminal activity. Dimon’s criticism focuses on the primary use case of crypto, which he believes facilitates criminal activity. During the Senate hearing, he went so far as to say that if he had the authority, he would shut down the entire crypto industry,

Bitcoin is on an incredible rise breaking through the $44k barrier
5 months ago 2 mins read

Bitcoin surges past $44,000 in the last 24 hours

Bitcoin (BTC) is on an incredible rise, breaking through the $44,000 barrier and reaching its highest level since April 2022. Analysts are paying attention to the crypto’s impressive rise, which has increased by more than 160% this year. Meanwhile, JPMorgan CEO Jamie Dimon issued a warning, highlighting potential economic challenges for the United States soon. The dominance of Bitcoin in the current market rally can be attributed to its status as a global macro asset. North Rock Digital’s Hal Press emphasizes the appeal of Bitcoin as an alternative store of value, emphasizing the potential for increased regulatory clarity with the

Tether Rides Bitcoin Surge
5 months ago 1 min read

Tether gains over $1.1B from Bitcoin investments

Tether, the issuer of the widely used USDT stablecoin, has made impressive gains of over $1.1 billion from its Bitcoin investments. This lucrative venture has significantly bolstered Tether’s Bitcoin holdings, reaching 57,576 BTC, thanks to the recent surge in Bitcoin prices, which soared past $41,000. According to reports from Chinese journalist Colin, Tether strategically acquired these Bitcoins at an average price of $22,480 each. Notably, a significant portion of these acquisitions occurred before March 2023, allowing Tether to capitalize on the remarkable upswing in Bitcoin’s value. Initiating a proactive investment strategy, Tether commenced allocating 15% of its net profits into

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