Bitcoin (BTC)

Roman Sterlingov, the founder of the crypto mixer Bitcoin Fog, is challenging a potential 30-year prison sentence after being convicted on multiple money laundering charges. Sterlingov’s defense team argues that the recommended sentences of 30 years by the prosecution and 20 years by the Probation Office are excessive and unfair compared to similar cases. The defense insists that such severe recommendations stem from the “cumulative effect” of various legal enhancements that address...

The US Government transferred close to $600 million in bitcoin to a Coinbase Prime deposit wallet. Contrary to popular belief in the crypto circles, this transaction to an exchange may not imply selling activity. The US Government moved 10,000 bitcoins, worth $593.91 million, to a Coinbase Prime deposit wallet on August 14. These assets were seized from the darknet marketplace Silk Road. The wallet transferring these funds, ‘bc1qlap8hkt9genaljz5nt2zlehhudx63zlahr2zek,’ received the bitcoin...

The British Columbia Securities Commission (BCSC) has determined that the cryptocurrency trading platform ezBtc and its founder, David Smillie, defrauded investors of approximately $9.5 million, equivalent to 13 million Canadian dollars, in crypto assets. The BCSC’s investigation uncovered that ezBtc and Smillie engaged in misleading and deceptive practices, misappropriating funds intended for customer accounts. Crypto Funds Diverted for Gambling According to the official...

Bitcoin’s price is consolidating in a tight range as market participants are uncertain about the future direction of the price. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has recently rebounded from the $50K area, following the significant drop below the 200-day moving average. Currently, the market is consolidating below the moving average, which is located around the $63K mark, failing to climb back above. Meanwhile, the $56K support...

This Year’s Theme: “On the Move” Throughout history, people have left their homes for a variety of reasons and have found themselves in faraway places. This has led to encounters with foreign lands, their inhabitants, their customs, their flora and fauna. Cultural heritage collections are full of artifacts resulting from and bearing witness to those people “on the move”: archival records, travel reports, audiovisual documents, object collections, oral histories etc. These...

A new financial disclosure has revealed that Trump has millions of dollars invested in crypto – an industry that’s become a clear target of his electoral campaign. Yet despite his many specific appeals to Bitcoin investors, there’s no evidence that the former president holds any BTC himself, as opposed to smaller alternatives. Trump’s Crypto Portfolio According to the 2024 disclosure published by Citizens for Ethics, the Republican nominee holds somewhere between $1 million...

Switzerland has initiated a public consultation on a new bill that aims to integrate cryptocurrency tax data into its international information exchange agreements. Announced by the Federal Council on Wednesday, this initiative seeks to extend the sharing of crypto asset information to 111 jurisdictions that are part of the existing automatic exchange of information (AEOI) system. This process will be in line with the OECD’s Crypto-Asset Reporting Framework. Switzerland has been one of the...

A wallet related to BitGo conducted a test transfer on Tuesday, following which it sent all its holdings to another wallet. A user on Reddit mentioned receiving the funds owed to them by Mt. Gox through BitGo. A wallet that received over $2 billion worth of bitcoin from Mt. Gox moved a minuscule amount on Tuesday before clearing the entirety of its holdings. While the value of its bitcoin holdings was over $2 billion two weeks ago when the funds flowed in, the price of the 33,105 bitcoins it...

U.S. spot bitcoin exchange-traded funds (ETFs) experienced a significant outflow on Wednesday, with $81.36 million leaving the products, according to data from SosoValue. This marked the end of a two-day streak of positive inflows. Among the funds, BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, saw a net inflow of $2.68 million. Franklin’s EZBC also reported an inflow of $3.42 million, its first since July 22. These two were the only funds to register inflows on Wednesday. In...

The broader cryptocurrency market lost around $70 billion in capitalization in the past seven days as the majority of the coins are trading in the red. This comes on the backs of considerable drops in the past few days, so let’s dive in. Starting with Bitcoin, the price was trading above $60K this time last week, and a push above $61K was even attempted during the weekend. As soon as Monday came, though, the bears took control and pushed the price below $59K. Buyers had an...